Group 1: Hong Kong Stocks Performance - BYD Electronics (00285) rose over 7%, reporting a nearly 14% year-on-year increase in net profit for the first half of 2025, with positive progress in AI data center business [1] - Beihai Kangcheng-B (01228) surged over 11%, achieving profitability in the first half of the year and recently forming a strategic partnership with Baiyang Pharmaceutical [1] - MicroPort Medical (00853) increased over 11%, with a reported loss of $46.602 million for the first half of 2025, a 51.9% reduction in loss year-on-year [1] - Bank of China Hong Kong (02388) rose over 6%, reporting a net profit of HKD 22.12 billion for the first half of 2025, with an increase in net trading income year-on-year [1] - UBTECH (09880) increased over 4%, announcing a strategic partnership agreement worth $1 billion with international investment firm Infini Capital [1] - Gold stocks performed well, with China Silver Group (00815) up over 8%, Zhaojin Mining (01818) up over 7%, Shandong Gold (01787) up over 6%, Chifeng Jilong Gold (06693) up over 6%, and Zijin Mining (02899) up over 6%, driven by rising gold prices due to increased interest rate cut expectations [1] Group 2: Chinese Companies' Financial Results - China Communications Construction (01800) fell over 5%, reporting a 16.9% year-on-year decrease in net profit for the first half of 2025 and not declaring an interim dividend [2] - Evergrande Property (06666) declined over 3%, with a 5.6% year-on-year drop in net profit for the first half of the year, with management expressing pessimism about economic benefits from Evergrande Group [2] - Zoomlion Heavy Industry (01157) rose over 2%, reporting a more than 20% year-on-year increase in net profit for the first half of 2025, with institutions optimistic about export growth in the second half [2] - Midea Group (00300) increased over 2%, reporting a 25.04% year-on-year increase in net profit for the first half of 2025 and proposing an interim dividend of HKD 5 per 10 shares [2] Group 3: US Stocks Performance - Autodesk (ADSK.US) rose 9.09%, reporting a 17% year-on-year revenue increase for the second fiscal quarter and raising its full-year revenue and adjusted EPS guidance [3] - Gap (GAP.US) increased 1.52%, with revenue slightly below market expectations for the second fiscal quarter, and management indicated that tariffs may pressure annual gross margins [3] - Marvell Technology (MRVL.US) fell 18.60%, reporting record revenue of $2.01 billion for the second quarter, a 58% year-on-year increase, but provided a Q3 revenue guidance slightly below expectations [3] - Alibaba (BABA.US) surged 12.90%, with a market value increase of $36.7 billion overnight, reporting an 18% year-on-year decline in Non-GAAP net profit, but strong resilience in core business [3] - Ambarella (AMBA.US) rose 16.78%, providing strong guidance for Q3 revenue, expected to be between $100 million and $108 million, reflecting continued growth in edge AI demand [3] - IREN Ltd (IREN.US) increased 14.93%, exceeding expectations in its fourth-quarter earnings report and announcing a priority partnership with NVIDIA [3] Group 4: Other Notable Stocks - Dell Technologies (DELL.US) fell 8.88%, reporting that its infrastructure division's operating profit margin was below expectations [4] - Affirm Holdings (AFRM.US) rose 10.59%, reporting better-than-expected revenue and profit for the fourth fiscal quarter [4] - TryHard Holdings (THH.US) declined 9.80%, issuing 1.5 million shares at $4 each, at the lower end of the pricing range [5] - GrowHub (TGHL.US) increased 1.48%, issuing 3.8 million shares at $4 each, also at the lower end of the pre-set pricing range [5]

Group 1 - The China Securities Hong Kong Stock Connect Medical Theme Index (932069) has risen by 2.99%, with notable increases in constituent stocks such as Chunli Medical (01858) up 10.49%, MicroPort Medical (00853) up 7.02%, and Crystal Technology Holdings (02228) up 6.89% [1] - The Hong Kong Medical ETF (159366) has also seen an increase of 2.44% [1] - The China Securities All Index Medical Device Index (H30217) has increased by 1.46%, with significant gains from Ji Min Health (603222) up 9.98%, Hualan Biological Engineering (301093) up 7.81%, and Huatai Medical (688617) up 6.93% [2][3] Group 2 - The FDA has accepted Vibration-Controlled Transient Elastography (VCTE) as an alternative endpoint for assessing liver fibrosis in patients with Metabolic Associated Steatotic Liver Disease (MASH), marking a significant breakthrough in non-invasive diagnostic technology [4] - This advancement is expected to enhance drug development efficiency for MASH and provide growth opportunities for domestic companies in the non-invasive companion diagnostics field [4] - The pharmaceutical and biotechnology sector showed marginal improvement in Q2 2025, with the innovative drug and CXO sectors performing particularly well, as the CXO industry rebounded with a 14% year-on-year revenue increase and a 54% increase in net profit [4] Group 3 - The domestic medical device industry is gradually recovering from an adjustment period, with market demand showing signs of recovery [5] - In Q2 2025, the medical equipment sector experienced a 5.26% year-on-year revenue growth, and the medical consumables sector maintained stable growth [5] - The Hong Kong Medical ETF (159366) focuses on rare medical segment leaders and has a high CXO content, while the Medical Device ETF (159883) is the largest in A-shares, covering various sub-sectors of the medical device industry [5]

Core Viewpoint - MicroPort Medical reported a revenue of approximately $547.5 million for the first half of 2025, reflecting a year-on-year decrease of 2% while the company narrowed its net loss to $46.6 million, a reduction of 51.9% compared to the previous year [1] Financial Performance - Revenue for the first half of 2025 was approximately $547.5 million, down 2% year-on-year [1] - The net loss attributable to equity shareholders was $46.6 million, which represents a 51.9% reduction in losses compared to the same period last year [1] - Basic loss per share was 2.53 cents [1] Cost Management - The total expenses for sales, management, and research and development decreased by 14.5% compared to the same period in 2024 [1] - The operating expense ratio improved by 8.1 percentage points year-on-year [1] - The research and development expense ratio decreased from 20.6% to 13.2% [1] Non-Core Business Disposal - The company completed the disposal of several non-core businesses during the reporting period, resulting in a positive gain of $26.1 million [1]

Core Insights - MicroPort Medical's Firehawk® drug-eluting stent system has shown promising results in the TARGET-FIRST clinical study, allowing for a reduction in dual antiplatelet therapy duration from 12 months to 1 month for low-risk acute myocardial infarction patients without increasing ischemic risk and significantly reducing bleeding complications [1] Group 1: Clinical Research and Findings - The TARGET-FIRST study results were published in the New England Journal of Medicine and presented at the European Society of Cardiology 2025 Congress, highlighting the significance of the findings in potentially changing global clinical practices [2] - Firehawk® stent previously gained attention for addressing late thrombosis issues in a separate European trial, indicating its clinical benefits and economic potential [3] Group 2: Product Features and Design - Firehawk® is a third-generation drug-eluting stent that combines low restenosis rates with low late thrombosis rates, utilizing a unique drug release mechanism that allows for targeted and timed drug delivery [4] - The stent's design features a drug load that is one-third of conventional stents and a coating area that constitutes about 5% of the total metal area, promoting rapid endothelial healing while maintaining the stent's drug-eluting properties [4] Group 3: Market Expansion and Future Plans - Firehawk® has been introduced in 67 countries and regions across Asia, Europe, the Americas, Africa, and Oceania, with plans for commercial expansion in North America following the positive TARGET-FIRST study results [4]

Firehawk╱火鹰支架是该集团自主研发的第三代冠脉药物洗脱支架系统，兼具了药物洗脱支架"低再狭 窄率"的特性和裸金属支架"极低晚期血栓率"的优势。该系统采用间断式单面凹槽载药与药聚合物控释 设计，严密包裹在槽内的药物╱涂层聚合物在抵达血管病变区后才释出，实现雷帕霉素"定向、定时、 定量"靶向释放。药物载荷仅为常规的三分之一，涂层面积也仅占金属总面积的5%左右，基本保持了裸 支架的结构形态，从而使Firehawk╱火鹰支架在保持其药物支架属性和基本功能的同时，实现与裸支架 相当的快速内皮化愈合效果。TARGET-FIRST研究进一步验证了在涂层面积和载药量方面尽可能迫近裸 支架这一集团独特设计理念的系统性临床获益。 《新英格兰医学杂志》以高影响因子、严格的同行评审和强大的全球学术影响力著称，位居世界医学四 大顶级期刊之首，其权威性被公认为评价科创和临床成果的最高标准。欧洲心脏病学年会亦是全球顶尖 的心血管学术盛会。这种通过"顶级期刊快速通道+顶级学术会议核心专场"同步亮相的情况极为罕见， 仅限于突破性强、能迅速改变全球临床实践和具有重大公共卫生意义的开创性研究成果;TARGET- FIRST研究获此殊荣和礼 ...

Core Viewpoint - MicroPort Medical announced the publication of the TARGET-FIRST clinical study results for its Firehawk® drug-eluting stent system in the New England Journal of Medicine, highlighting a significant reduction in dual antiplatelet therapy duration for low-risk acute myocardial infarction patients without increasing ischemic risk [1] Group 1 - The Firehawk® stent allows for a reduction in dual antiplatelet therapy (DAPT) duration from 12 months to 1 month for patients achieving complete revascularization [1] - The study results were presented at the European Society of Cardiology 2025 Congress in Spain, under the "Latest Breakthrough Clinical Trials (HOT LINE)" session [1] - The shortened DAPT duration not only does not increase ischemic risk but also significantly reduces bleeding complications [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 微創醫療科學有限公司* Firehawk®╱火鷹®支架先前的一項歐洲臨床試驗TARGET AC，曾因解決了晚期血栓這一困惑醫學界 多年的難題而在全球頂級期刊《柳葉刀》發表，並引發了對該中國造產品的全球性關注。在歐洲實施 的兩個完全獨立的大規模臨床研究，不僅證實了Firehawk®╱火鷹®支架的臨床獲益，也佐證了其有一 定的經濟性潛力和人道化優勢。因其具備了實質性影響心血管領域臨床實踐和綜合治療策略的關鍵 因素，Firehawk®╱火鷹®支架有望成為破局「高品質－經濟性－可及性」不可能三角的稀有醫療方案之 一。本集團始終致力於研發創新型醫療器械和技術，並與世界一流的研究人員合作，讓中國造產品 在世界舞台上依靠數字大膽說話，以堅實的臨床證據驗證安全性和有效性，讓更多患者得以受益於 我們的技術。 關於Firehawk®╱火鷹®支架 Firehawk®╱火鷹®支架是本集團自主研發的第三代冠脈藥物洗脫支架系統，兼具 ...

报告期内，集团面对复杂多变的地缘政治及国际贸易冲突、医保费用精细化管理的持续推进、部分业务 集采执行落地晚于预期等外部挑战，以及集团近年密集获批新产品尚处于准入及/或培育期、产品结构 短期调整带来的新旧动能衔接存在一定时滞性等影响，集团收入增长阶段性承压，报告期内，录得收入 5.48亿美元，同比下降2.2%(剔除汇率影响)。 格隆汇8月30日丨微创医疗(00853.HK)发布公告，截至2025年6月30日止六个月，实现收益5.48亿美元， 同比减少2.2%；公司权益股东应占亏损为4660.2万美元，上年同期公司权益股东应占亏损为9683万美 元；基本每股亏损2.53美分。 ...

公告称，亏损收窄主要得益于报告期内，集团销售、管理、研发三项费用总金额较2024年同期缩减 14.5%，运营费率同比优化8.1个百分点，其中研发费率由20.6%下降至13.2%。集团于报告期内完成数家 非核心业务处置，为集团带来2610万美元的正向收益。 微创医疗(00853)公布2025年中期业绩，收入约5.475亿美元，同比减少2%;公司权益股东应占亏损4660.2 万美元，同比减亏51.9%;每股基本亏损2.53美分。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 微創醫療科學有限公司* （於開曼群島註冊成立的有限公司） （股份代號：00853） 截至二零二五年六月三十日止六個月的未經審核中期業績公告 財務摘要 | | | 截至六月三十日止六個月 | | | --- | --- | --- | --- | | | 二零二五年 | 二零二四年 | 變動百分比 | | | 千美元 | 千美元 | % | | | （未經審核） | （未經審核） | | | 收入 | 547,532 | 558,702 | 減少2.2% | | | | | （剔除匯率影響） | | 期間利潤╱（虧損） | (36,361) | (106,674) | 減虧65.9% | | 公司權益股東應佔利潤╱（虧損） | (46,602) | (96,830) | 減虧51.9% | | 每股利潤╱（虧損）－ | | | | | 基本（美分） | (2.53) | (5.29) | 減虧52.2% ...