Recently, Shenzhen Mindray (MR.NYSE) v. Libang (300206.SZ) series of intellectual property infringement cases lasted for nearly one and a half years and made a verdict in one of the cases. Libang Instrument lost the case and was asked to stop manufacturing and sales immediately. And promised to sell infringing patented products, and to compensate Mindrup Shenzhen for 1 million yuan. In the other 23 cases, there was no new progress.
According to informed sources close to the two sides, there is a trend of a deadlock in the current lawsuit. Libang Instrument may win a lawsuit in some cases. In the long term, the impact on the growth of the company's performance will gradually diminish. However, Mao Weiming, director of Shenzhen Mindray's public relations department, revealed to the "First Financial Daily": "In fact, 17 of the 24 cases have been completed by the Shenzhen Intermediate People's Court. The results of the preliminary examination are Mindray wins."
Regardless of the final result of the patent case, it has actually had a negative impact on Ribang Instruments. Recently, the company’s semi-annual report showed that net profit fell by 1.98%. Among them, sales revenues of color ultrasound products related to lawsuits fell by 15% year-on-year, and revenue from sales of maternity and childcare products and system multi-parametric monitoring products fell by nearly 10% year-on-year.
Libang Instrument’s semi-annual report announced on the 24th showed that operating income in the first half of 2012 was 186 million yuan, an increase of 8.24% year-on-year; total profit was 36 million yuan, up 17.18% year-on-year; but deductions attributable to shareholders of listed companies were not Net profit from recurring gains and losses was 25 million yuan, down 1.98% year-on-year.
In response to the verdict, Libang Instrument stated that the product models involved in the case were already in the later stages of the life cycle. According to the plan, they were exiting the market. New upgraded products began to be gradually replaced according to the product planning scheme. The company also appealed to the Higher People's Court of Guangdong Province within 10 days after the judgment was handed down.
Prior to this, Mindell sued Libang Instrument for infringement of its professional and commercial secrets, which included a total of 23 patent dispute cases and a trade secret dispute case.
According to the financial data publicly disclosed by Libang Instrument, the company's main business sales revenue from 2008 to 2010 totaled 719 million yuan, while the cumulative sales revenue of suspected infringing custody products and ultrasound imaging products totaled 299 million yuan, accounting for a total of 2008 From 2010 to 2010, 41.54% of the total sales revenue of the main business.
Last year, due to the influence of patent lawsuits, loss of tenders, and slowdown of new products, the first-year net profit of Libang Instrument dropped by 10%.
A member of the Libo Securities Department stated to this newspaper that after appealing against the first case, other cases were also actively preparing for responding, and the losses would be minimized as much as possible.
"Libang Instrument met the industry's competitors on the eve of the IPO, and it did have flaws in research and development." The above-mentioned industry insiders are evaluated.
Currently, Libang Instrument is making up an urgent lesson. In 2011, research and development expenses increased by 48.3%, accounting for 15.1% of the operating revenue, compared with peers, which accounted for 15.1%. In 2010, it accounted for 11.9%.
Mao Weiming revealed that in the first year of the launch of new products in the medical device industry, gross profit was the highest. After the market was introduced, gross margins in previous years could be kept above 50%. The good profit space is only four or five years. Therefore, R&D and new product reserves are the key to maintaining high gross profit for medical and mechanical companies.
In the new product update, Libang Instrument is gradually getting rid of last year's downturn. Since 2012, U50 portable all-digital color ultrasonic diagnostic system has been launched (CE certified in the European Union, foreign sales have been partially registered, domestic registration is being applied), and elite V8 Multi-parameter monitor (high-end monitor, has been completed domestic registration, and has obtained the European Union CE certification), veterinary multi-parameter monitor, Libang D Series digital ultrasonic diagnostic system, and signed as the United States Cooper Surgical, Inc. The company's exclusive distributor of high frequency LEEP electric knife system in China.
According to informed sources close to the two sides, there is a trend of a deadlock in the current lawsuit. Libang Instrument may win a lawsuit in some cases. In the long term, the impact on the growth of the company's performance will gradually diminish. However, Mao Weiming, director of Shenzhen Mindray's public relations department, revealed to the "First Financial Daily": "In fact, 17 of the 24 cases have been completed by the Shenzhen Intermediate People's Court. The results of the preliminary examination are Mindray wins."
Regardless of the final result of the patent case, it has actually had a negative impact on Ribang Instruments. Recently, the company’s semi-annual report showed that net profit fell by 1.98%. Among them, sales revenues of color ultrasound products related to lawsuits fell by 15% year-on-year, and revenue from sales of maternity and childcare products and system multi-parametric monitoring products fell by nearly 10% year-on-year.
Libang Instrument’s semi-annual report announced on the 24th showed that operating income in the first half of 2012 was 186 million yuan, an increase of 8.24% year-on-year; total profit was 36 million yuan, up 17.18% year-on-year; but deductions attributable to shareholders of listed companies were not Net profit from recurring gains and losses was 25 million yuan, down 1.98% year-on-year.
In response to the verdict, Libang Instrument stated that the product models involved in the case were already in the later stages of the life cycle. According to the plan, they were exiting the market. New upgraded products began to be gradually replaced according to the product planning scheme. The company also appealed to the Higher People's Court of Guangdong Province within 10 days after the judgment was handed down.
Prior to this, Mindell sued Libang Instrument for infringement of its professional and commercial secrets, which included a total of 23 patent dispute cases and a trade secret dispute case.
According to the financial data publicly disclosed by Libang Instrument, the company's main business sales revenue from 2008 to 2010 totaled 719 million yuan, while the cumulative sales revenue of suspected infringing custody products and ultrasound imaging products totaled 299 million yuan, accounting for a total of 2008 From 2010 to 2010, 41.54% of the total sales revenue of the main business.
Last year, due to the influence of patent lawsuits, loss of tenders, and slowdown of new products, the first-year net profit of Libang Instrument dropped by 10%.
A member of the Libo Securities Department stated to this newspaper that after appealing against the first case, other cases were also actively preparing for responding, and the losses would be minimized as much as possible.
"Libang Instrument met the industry's competitors on the eve of the IPO, and it did have flaws in research and development." The above-mentioned industry insiders are evaluated.
Currently, Libang Instrument is making up an urgent lesson. In 2011, research and development expenses increased by 48.3%, accounting for 15.1% of the operating revenue, compared with peers, which accounted for 15.1%. In 2010, it accounted for 11.9%.
Mao Weiming revealed that in the first year of the launch of new products in the medical device industry, gross profit was the highest. After the market was introduced, gross margins in previous years could be kept above 50%. The good profit space is only four or five years. Therefore, R&D and new product reserves are the key to maintaining high gross profit for medical and mechanical companies.
In the new product update, Libang Instrument is gradually getting rid of last year's downturn. Since 2012, U50 portable all-digital color ultrasonic diagnostic system has been launched (CE certified in the European Union, foreign sales have been partially registered, domestic registration is being applied), and elite V8 Multi-parameter monitor (high-end monitor, has been completed domestic registration, and has obtained the European Union CE certification), veterinary multi-parameter monitor, Libang D Series digital ultrasonic diagnostic system, and signed as the United States Cooper Surgical, Inc. The company's exclusive distributor of high frequency LEEP electric knife system in China.
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