Driven by technological innovation to incubate products, Aiwei Technology strikes gold in the in-vitro diagnostics sector

Publication Time:

2024-07-23 00:00

Source:

Figure ① Institutional investors conduct a field research at Aiwei Technology; Figure ② Aiwei Technology's company building; Figure ③ An explainer introduces the company's products; Figure ④ Aiwei Technology's executive team answers investors' questions; Figure ⑤ Institutional investors visit the company's laboratory; Figures ①, ③, ④, and ⑤ were photographed by He Wenying; Figure ② was provided by the company

“Previously, things like excrement and secretions were all manually inspected, which was both dirty and tiring. To address this industry pain point, the company is committed to applying ‘artificial intelligence + machine vision technology + big data’ to the morphological testing of clinical specimens in medical and health institutions, driving the industry's development from manual to automated microscopic examination,” Aiwei Technology Chairman Ding Jianwen said in an interview with a reporter from the Securities Daily.

As a talent selected for the national ‘Ten Thousand Talents Plan’, Ding Jianwen has a deep affection for the automated microscopic examination industry and its products. Under his leadership, Aiwei Technology has driven product incubation through technological innovation and has gained recognition from more than 6,000 hospitals in China.

How will Aiwei Technology further expand into the primary medical care and consumer product markets in the future, and how will it discover more business opportunities in in-vitro diagnostics? Recently, a reporter from the Securities Daily, along with numerous institutional investors, visited Aiwei Technology to explore the future prospects of the company's automated microscopic examination technology.

Cutting-edge technology applied to clinical medicine

Entering Aiwei Technology's product display area, a production line of approximately four meters long and over one meter wide, composed of several white testing instrument modules, caught the reporter's eye. Urine test tubes were seen being quickly transported on the specimen tube transport module to various testing positions and completing testing, with the adjacent computer screen displaying comprehensive test results in images and text. The specimen's transportation and testing proceeded smoothly, and the speed was astonishing.

Aiwei Technology's Vice General Manager Lin Changqing introduced to the Securities Daily reporter: “This is the company's newly launched AVE-7200 fully automated urine analysis modular production line, which can test and analyze 14 dry chemical items in urine, such as occult blood and white blood cells. Simultaneously, it uses artificial intelligence and machine vision technology, employing an automated morphological microscopic examination method for automated identification and classification counting of formed elements in urine.”

It is reported that this product can complete fully automated testing of urine physical examination, dry chemistry, and formed elements microscopy, generating comprehensive reports covering physical, chemical, and morphological analyses of urine, providing comprehensive diagnostic indicators for clinical practice and has begun to be used in the inspection departments of extra-large tertiary hospitals.

It is understood that the above-mentioned product is only one of Aiwei Technology's flagship products. To date, Aiwei Technology's medical testing instruments have accumulated more than 15,000 units installed in China, and have been installed in more than 6,000 hospitals nationwide. Among them, the company's urine, stool, and reproductive tract secretion testing products have taken a leading position in the market.

Lin Changqing said: “Many well-known tertiary hospitals in China, such as the China-Japan Friendship Hospital, Xiangya Hospital of Central South University, and the First Affiliated Hospital of China Medical University, have installed our products. The company has accumulated more than 4,200 units installed in tertiary hospitals across China.

While achieving market leadership in instruments, Aiwei Technology actively develops supporting reagents and consumables, forming a virtuous cycle of instrument promotion driving sales of supporting reagents and consumables, laying a solid foundation for the company's continued growth.

In 2023, the company's revenue exceeded 200 million yuan, a year-on-year increase of 1.79%; net profit attributable to the parent company reached 21.53 million yuan, a year-on-year increase of 19.81%. In the first quarter of this year, the company's performance continued its growth trend, achieving revenue of 46.8138 million yuan, a year-on-year increase of 14.46%; and net profit attributable to the parent company reached 5.07 million yuan, a year-on-year increase of 136.42%.

Exploring primary medical care and consumer markets

Against the backdrop of achieving a leading market share in the hospital market, Aiwei Technology is actively expanding into the consumer and primary medical care markets to create new profit growth points.

“This Helicobacter pylori test strip home self-test card is one of the products aimed at the consumer market,” Lin Changqing introduced the company's product to the reporter. “Just unscrew the cap of the diluent tube, use the sampling spoon attached to the cap to sample the stool, then tighten the cap and shake the liquid repeatedly, then drop it into the sample well of the test card, and you can read the result within 10 to 15 minutes.”

It is understood that, with such rapid testing products as a starting point, Aiwei Technology will next focus on developing the consumer medical market. The company has developed dozens of lightweight POCT/iPOCT products for the consumer medical market focused on chronic disease management, health monitoring, and home self-testing, covering women's health, scientific pregnancy, childhood diarrhea, early tumor screening, gastrointestinal diseases, urinary system diseases, diabetes, and health checkups, and has launched them on major e-commerce platforms, targeting individual consumers.

In addition, the primary medical care market will also be another key focus for Aiwei Technology. Targeting the characteristics of small scale, low specimen volume, and low automation requirements of primary medical and health institutions, the company has developed small, multi-functional instrument products to meet the clinical testing needs of primary medical and health institutions.

Attracting institutions to conduct field research

Based on the company's high-tech content and multi-segment strategic deployment, this research activity attracted more than 20 representatives from well-known institutions such as Hunan Qingshi Venture Capital Management Co., Ltd. (hereinafter referred to as “Qingshi Venture Capital”), Hunan Huazhou Investment Private Equity Fund (hereinafter referred to as “Huazhou Investment”), Hunan Fuchuan Private Equity Investment Fund, and Fangzheng Hesheng Investment.

In addition, Tianjian Accounting Firm's Hunan branch also participated in the exchange as the organizer of this research activity. This is the first time a Hunan listed company has invited an audit firm to participate in an “in-person” exchange with investors.

Industry insiders said that encouraging audit firms to directly interact with market investors is conducive to investors gaining a multi-faceted understanding of listed companies, further solidifying the responsibilities of audit firms as ‘gatekeepers’, and is also conducive to promoting the ‘two-way rush’ between Hunan institutions and local enterprises, helping companies attract more ‘patient capital’.”}, {

After conducting in-depth research on Aiwei Technology, Chen Zhaoqian, a representative from Qingshi Venture Capital, said in an interview with the Securities Daily reporter: “The R&D cycle for medical devices is long, and the entry barriers are high. As a pioneer and leader in domestic automated microscopic examination technology, the company has a first-mover advantage in the industry. The launch of the company's primary and consumer product lines is expected to become an important business growth point for the company in the future.”

“Being able to become a supplier of instruments and reagents for many tertiary hospitals shows the company's reputation,” While giving affirmation, Li Liping, a representative from Huazhou Investment, also made some suggestions to Aiwei Technology: “In the future, we hope the company will further enhance its marketing efforts to improve product market share and look forward to the explosive growth of the company's primary and consumer product lines.”