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A few days ago, Weigao Group announced that the inaugural meeting of Weigao Yangtze River Delta Group with the theme of "gathering momentum and creating the future intelligently" was successfully held in Shanghai on April 13.
It is reported that Weigao Yangtze River Delta Group will adopt the "1+2+3+6" operation model, including the establishment of Weigao Yunxing Intelligent Innovation Park platform, the establishment of two centers for talent and innovation, as well as the development of overseas business, big health business and empowerment business three major sectors, six industrial groups. Through the coordinated development of diversified businesses, we will open up a new path for the sustainable development of Wego Group, and build a new platform governance model of intensification and digitalization.
At present, Wego has set up 4 regional marketing centers, 6 overseas R&D centers, 15 overseas offices, and a sales network covering more than 100 countries and regions around the world. The establishment of the new group is an important measure for Weigao to implement the "three transformations" development strategy, and it is also a key step for it to open up the second growth curve and move towards diversified development.
In 2023, Weigao Group will adhere to the guidance of promoting the transformation of industrial concepts, governance models, and value embodiment, give full play to its own advantages, strengthen innovation support, make efforts in industrial transformation, deepen digital empowerment, and play a strong voice for high-quality development.
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Weigao Yunxing Intelligent Innovation Park
It is understood that as the core operation platform of Weigao Group in the strategic layout of the Yangtze River Delta, Weigao Yunxing Intelligent Innovation Park will be characterized by "space + service + investment", focusing on the four core industries of major surgery, early screening and early diagnosis, health technology and blood net metabolism, to build a one-stop medical device professional park with CRO (clinical research outsourcing), CDMO (drug research and development and production outsourcing) and CSO (clinical science outsourcing) full service functions.
The park is located in Shanghai South Hongqiao Smart Medical Innovation Pilot Zone, which broke ground in 2021, covering an area of 61 acres, with a construction area of 180,000 square meters, a total investment of 2 billion yuan, and 3,000 office staff. At present, the construction of the project has entered the final stage, and it is expected to be officially delivered and put into operation in the second half of 2024.
Renderings of the Weigao Yunxing Zhichuang Park project
At present, the park is actively exploring the construction of smart parks, and is committed to building a digital empowerment service system, covering property services, supporting services, investment promotion services and industrial ecological services, etc., to help the park realize the integrated global management of virtual control and reality, as well as the all-round and multi-dimensional perception of the overall construction of the park, and realize the deep integration of various application modules.
In addition, Weigao Yunxing Intelligent Innovation Park will fully rely on its own industrial group, target customers, expert resources and an extensive network of ecological partners. By promoting the interconnection of enterprises in the park, efficiently integrating industrial ecological resources, and using big data precipitation and algorithms to meet the personalized needs of settled enterprises and industry enterprises, the development of the industry is empowered by digital intelligence.
Ecological planning of digital industry in Weigao Yunxing Intelligent Innovation Park
Smart parks
The smart park is an innovative industrial park based on information technology and the Internet of Things, which realizes the interconnection of facilities and equipment, data sharing and intelligent management through the application of intelligent equipment and systems, covering many application scenarios such as park management, operation, consumption, and Internet of Things, providing enterprises with a more efficient and intelligent development environment, and then forming community value association and circle resource sharing, which is an important stage for the industrial park to digital transformation and the direction of the future development of the industrial park.
Huawei's 2022 Future Smart Campus White Paper mentions that the construction of smart campuses requires digital transformation and "decoupling and reconstructing" traditional integration methods through "connection + digital platform", so as to change the spider-web application integration relationship between traditional weak current systems. With the digital platform as the core, the digital platform should be used as the core to support various business applications through servitization upward, and connect various terminals downward, and the digital platform should be used as the "black soil" to fully develop the ecological manufacturers of the smart park to jointly meet the needs of customers and create value.
The path of smart park construction
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5 billion in Qingdao
The establishment of the new group is an important measure for Weigao to implement the "three transformations" development strategy, and it is also a key step for it to open up the second growth curve and move towards diversified development.
In addition, Weigao International Medical Device Industrial Park, with a total investment of 5 billion yuan, will also officially settle in Qingdao High-tech Zone in 2022.
On November 25, 2022, the Management Committee of Qingdao High-tech Zone and Wego Group signed a number of cooperation agreements, including Qingdao Wego International Medical and Health Industry Headquarters, Digital Low-carbon National Headquarters, Medical and Health Industry Fund and other projects, marking the in-depth cooperation between Wego Group and Qingdao High-tech Zone.
Qingdao Weigao International Medical and Health Industry Headquarters
Among them, the first phase of Qingdao Weigao International Medical and Health Industry Headquarters Project, covering an area of about 91 acres, mainly introduces projects invested by industrial funds, including the Sino-Korean joint venture Ruibosi (Qingdao) Biotechnology Co., Ltd. project, Anhui Tongling Bionic Technology Co., Ltd. project and other projects such as industrial fund investment.
Digital Low Carbon National Headquarters
In response to the national "dual carbon" strategy, the digital low-carbon national headquarters project relies on Weigao Group to build a digital low-carbon national headquarters with energy trusteeship as the core and integrating R&D, production, operation, operation and maintenance, and big data management. We will build the country's first digital low-carbon demonstration zone on the energy consumption side, build a smart energy operation and maintenance center, establish a low-carbon technology research and development center, and build a digital low-carbon product innovation experimental workshop.
A joint project between Qingdao University and Wego Group
After the project lands in the high-tech zone, it will rely on the outstanding advantages of Qingdao high-tech zone in the development of the medical and pharmaceutical industry, policy support, business environment, etc., the high-quality resources of Qingdao University in scientific and technological research and development, talent training, discipline construction, etc., and the unique advantages of Weigao Group in the transformation of achievements, application promotion, market expansion, etc., to jointly build the Weigao Research Institute of Qingdao University. Focus on the technology research and development, achievement transformation, commercial application and other work of drugs, medical devices, rehabilitation medicine and other industries. Build an integrated industrial system of "production, education, research and application", and lead the high-quality development of Qingdao's biomedical and medical device industries.
Medical and Health Industry Fund
Relying on the advantages of Weigao Group in medical devices, biomedicine and rehabilitation medicine, the medical and health industry fund project is jointly established by Qingdao Guidance Fund, High-tech Zone Guidance Fund and Industrial Fund, Weigao Capital, Qingsong Capital, etc., to introduce high-quality projects for the international medical industrial park through the industrial fund to attract investment and capital.
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Wego Orthopedics personnel changes
According to the data, Weigao Group was founded in 1988, and at the beginning of its establishment, it mainly produced low-value medical consumables such as infusion sets, syringes, blood transfusion sets, infusion needles, PVC materials, etc., and then continued to develop in the field of medical devices with higher added value.
Today, Weigao has grown into a "giant" enterprise in the field of medical consumables in China. It has more than 1,000 varieties of medical devices and drugs, more than 200,000 specifications, more than 1,500 patents, and three listed companies: Weigao Orthopedics, Weigao and East China CNC.
Among them, Weigao Orthopedics, as a leading orthopedic instrument in China, is one of the most comprehensive orthopedic product companies in China. Its products cover various fields such as spine, trauma, joint, sports medicine, bone repair material implants, surgical instrument products, platelet-rich plasma (PRP) preparation kits and closed trauma negative pressure drainage kits.
According to the data of 2019, the overall market share of Weigao Orthopedics in the field of orthopedic implantable medical devices in China ranks first among domestic manufacturers and fifth in the whole industry. On June 30, 2021, Weigao Orthopedics officially landed on the Science and Technology Innovation Board, and opened sharply higher on the first day of listing, once touching a high of 123.87 yuan per share, but it has been in a downward trend since then.
October 17, 2022 to 76.12 yuan / share; On August 23, 2023, the lowest fell to 36.36 yuan / share, a decrease of 70.65%; As of January 3, 2024, the company's stock price has been fluctuating at the level of 40 yuan. On January 3, it fell below 40 yuan / share, and it is still in a downward trend.
Performance is under pressure
While the stock price fell, the performance of Weigao Orthopedics also continued to be under pressure. According to the financial report, from 2020 to 2023, Weigao Orthopedics achieved operating income of 1.82 billion yuan, 2.15 billion yuan, 2.06 billion yuan and 1.28 billion yuan respectively, and total profits of 560 million yuan, 690 million yuan, 6.0 million yuan and 110 million yuan respectively.
In the first quarter of 2024, the company achieved revenue of 348 million yuan, a year-on-year decrease of 10.74%; the net profit was 35 million yuan, a year-on-year decrease of 62.92%; The net profit of non-attributable to the parent company was 35 million yuan, a year-on-year decrease of 62.03%.
Personnel changes
In addition, since the beginning of this year, the personnel changes of Weigao Orthopedics have also been quite large. On the evening of March 8, Weigao Orthopedics issued an announcement announcing that Chairman Gong Jianbo, directors Yan Xia and Qiu Guoping submitted written resignation applications.
Subsequently, on March 27, Weigao Orthopedics announced again that Chen Min, the company's director, would be appointed as the new chairman to replace Gong Jianbo, who had resigned.
One month after Wego Orthopedics issued a notice of personnel changes, Wego Group also issued an announcement on the change of directors.
According to the announcement, according to the "Resolution of the Shareholders' Meeting of Weigao Group Co., Ltd.", the composition of the board of directors of Weigao Group was changed from five to seven, and it was agreed that Lian Xiaoming would resign as a director of the company and elect Chen Min, Gao Yu and Cong Rinan as directors of the company for a term of three years. The new board of directors of the company is composed of seven directors: Chen Lin, Tang Zhengpeng, Long Jing, Yan Xia, Chen Min, Gao Yu and Cong Rinan.
This change means that Lian Xiaoming, the former director of Weigao Group, has withdrawn, and three new directors have been added, namely Cong Rinan, Chen Min and Gao Yu.
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As we all know, 2022-2023 is a "big year" for the centralized procurement of orthopedic consumables, and the three major fields of orthopedic joints, trauma, and spine are all included in the scope of centralized procurement of orthopedic medical consumables. This is not a small short-term impact on orthopedic consumables companies, and many domestic A-share orthopedic listed companies are facing the dilemma of "locking the table" in both revenue and net profit, which also accelerates the industry reshuffle and forces enterprise reform.
In 2024, the impact of centralized procurement will continue, and the establishment of Weigao Yunxing Intelligent Innovation Park is expected to take advantage of Shanghai's location advantages to quickly occupy the domestic and international markets, seize the highland of technology, capital and talents, and create conditions for the development of the group in the next 30 years.
So can Wego Group choose to "start a second business" and finally open up a new business empire? The home of equipment will continue to pay attention.