AMCO United Holding Limited (Stock Code: 630) has released a supplemental disclosure to its 2024 Annual Report, focusing on the medical products segment. The announcement provides a breakdown of revenue from FY2022 to FY2024, reasons for revenue changes, strategic initiatives, and details of a newly acquired manufacturing permit in the People’s Republic of China (PRC).
FY2024 results show total medical products revenue at HK$25.57 million, compared to HK$21.94 million in FY2023 and HK$54.42 million in FY2022. The three product categories—lancet piping parts/devices, customized parts for medical devices, and epidemic prevention products—recorded varied performance. Epidemic prevention items, at HK$16.34 million in FY2022, declined to HK$Nil by FY2023 due to market normalization after COVID-19. Lancet piping parts and devices fell from HK$30.43 million in FY2022 to HK$14.13 million in FY2023 before settling at HK$11.02 million in FY2024, influenced by post-pandemic demand drops and price competition. Customized parts used in medical devices rose significantly—from HK$7.65 million in FY2022 to HK$14.54 million in FY2024—driven by the industry shift toward integrated systems and continuous glucose monitoring technology.
Despite short-term challenges, AMCO United Holding Limited reports a 16.5% overall revenue increase for the medical segment in FY2024. The supplemental disclosure attributes this to ongoing product development initiatives that require time to yield meaningful financial outcomes. A stronger focus on high-precision, customized parts and the roll-out of new product lines have reportedly begun to offset declines in traditional lancet-related items.
The announcement highlights a strategic plan that aims to expand beyond lancets into surgical instruments, orthopedic tools, imaging equipment, and diagnostic devices. In August 2025, a new manufacturing permit was obtained in Shandong province (山東醫療器械註冊証), enabling the production and commercialization of an expanded portfolio that includes infusion devices, non-invasive care items, and protective equipment. This permit broadens the scope of AMCO United Holding Limited’s existing medical products business rather than introducing an entirely new line. The plan involves immediate market entry through certified subcontractors, followed by a possible move into additional provincial registrations in 2026.
The document clarifies that the overall business model, relying on a mix of in-house production and outsourcing, remains consistent. The company’s operational strategy continues to prioritize capital-light expansion while maintaining quality control. The existing manufacturing facility in Dongguan, Guangdong Province, has an annual capacity of around five million units, supported by 15 full-time employees. Many of the facility’s plant and machinery are fully depreciated due to accounting policies but remain operational.
According to the supplemental information, management expertise is led by experienced directors and a newly formed operational team focusing on the manufacturing permit. Some team members possess more than a decade of experience in the medical device industry. The supply chain currently features mid-sized Chinese suppliers specialized in lancet components and other medical device parts.
In July 2025, a new operating subsidiary, 濟南珈友和醫療科技有限公司 (Jinan Jiayouhe Medical Technology Co., Ltd.), was established in Jinan City, Shandong Province, to strengthen AMCO United Holding Limited’s PRC market presence. The legal representative of this entity, who also brings more than 10 years of industry experience, is leading efforts to secure sales and purchase agreements targeting an estimated RMB20 million sales volume by the end of 2025. Prospects for 2026 include further market penetration into hospital clients and a data-driven plan to open regional offices and warehouses based on demand density.
The supplemental information states that all other details in the 2024 Annual Report remain unchanged, reinforcing the emphasis on the significance of the medical segment’s progress and strategic roadmap within AMCO United Holding Limited’s broader corporate objectives.