On November 16, 2016, Transtek Medical was officially listed on the Growth Enterprise Market of Shenzhen Stock Exchange, and the wearable device has become a key business for its development. The 2016 annual report shows that the sales of Transtek Medical's wearable sports bracelets have grown significantly, ranking second in China and fifth in the world.
According to statistics from IDC, a market research organization, the global wearable market continued to grow rapidly in the fourth quarter of 2018, with shipments in the Chinese market reaching 22.7 million units, accounting for 38.2% of shipments in the global wearable market. In the fourth quarter of 2018, Transtek Medical's market share in the wearable device market was still high.
Since 2019, Transtek Medical has been following the development of the times and policies, promoting transformation and upgrading, focusing on important fields such as sports health and chronic disease management, transforming from 2C to 2B, and from facing scattered consumers to industry customers and professional institutions in fields such as home medical care, home health, health device, smart wearables as well as chronic disease management. It provides strategic key customers with healthy IoT smart devices and medical-grade telehealth overall solutions. After the transformation, Transtek Medical has regained rapid business growth.
The outbreak of the COVID-19 made Transtek Medical completely come to prominence at home and abroad. During the epidemic, Transtek Medical seized the bonus of telemedicine services, actively provided overseas major customers with health IoT products such as blood pressure monitors and smart bracelets, as well as overall solutions for medical-grade telehealth management, and provided telemedicine services for corporate employees.
The 2020 annual report data shows that Transtek Medical's revenue reached 1.337 billion yuan, a year-on-year increase of 51.27%; the net profit attributable to the parent company in the same period was 70 million yuan, a year-on-year increase of 125.86%. In the first quarter of 2021, Transtek Medical still maintained rapid growth, with revenue increasing by 128.26% year-on-year.
