Lexin Medical competes with Apple on the same stage: creating a sports health bracelet

On the morning of November 16, the Shenzhen Stock Exchange, a loud ringing bell witnessed the re-expansion of the “Zhongshan Plate” – Guangdong Lexin Medical Electronics Co., Ltd. (hereinafter referred to as “Lexin Medical” successfully landed on the GEM and became Zhongshan is the 15th A-share listed company and the first intelligent hardware company in China to complete the A-share listing.

In September this year, IDC, the international authoritative third-party data analysis organization, announced the 2016Q2 Global Wearable Devices Market Report. According to the report, global wearable device shipments have risen again. Among them, the sales volume of Lexin Medical has exceeded one million, ranking the top five in the world with a market share of 4.6%, and competing with international brands such as Apple and Fitbit. The quarterly tracking report of China's wearable device market in the second quarter of 2016 released by IDC also showed that the sales volume of Lexin Medical increased by 54.6% from the previous quarter's 668,000 units, ranking second in China. Behind Xiaomi.

The “new” company, which has only entered the wearable market for more than a year, is called “the first hardware of smart hardware”, from the original electronic scale solution provider to the health care equipment hardware supplier, the combination of software and hardware. Health management service providers, and nowadays, smart bracelet sales are closely following Xiaomi, and even landing on the GEM. What kind of ability is it to catch up with?

Lexin Medical competes with Apple on the same stage: creating a sports health bracelet

1.2009 transformation involved in intelligent hardware

In 2002, Pan Weichao, who just resigned in the original company, set up Zhongshan Chuangyuan Electronics Co., Ltd. (predecessor of Lexin Medical) with several students. At that time, it coincided with the transfer of domestic mechanical scales to the key nodes of electronic scales, but there has been no relevant technical support in China. Pan Weichao has some patents and technologies in this respect.

Through three years of research and development and precipitation, Chuangyuan Electronics has gradually become the largest supplier of electronic scale control panels and sensors in China, with a monthly shipment of 700,000 sets. By 2005, the company's sales exceeded 100 million yuan. Despite the record high sales, Pan Weichao judged that pure supply parts are difficult to develop for a long time, and Lexin Medical began to transform into a complete machine product. With the expansion of business, technology research and development and product design capabilities, the company's product line has been continuously enriched, and the company's revenue has increased year by year.

Around 2009, due to the impact of the financial crisis, the domestic traditional ODM business is under pressure. "At the time, many foundry manufacturers were price wars at the Canton Fair, and they were struggling to sell for 4 dollars or 3.95 dollars." As a member of the export manufacturing company, Pan Weichao looked at his heart but felt pain in his heart. He does not want his company to sacrifice profits in order to increase market share.

Therefore, Lexin Medical made a decision that made many people puzzling. It went to the smart hardware that was rarely recognized at home at that time: the development of home medical health management, research and development of Internet-based smart home medical health electronic products.

"In fact, there was no such thing as intelligent hardware at the time. At the time, in the process of communicating with foreign customers, everyone had a similar idea, that is, the data in electronic scales and other products were extracted and shared, managed and applied. Xu Yingfeng, Secretary of the Board of Guangdong Lexin Medical Electronics Co., Ltd. recalled.

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