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） 截至二零二三年十二月三十一日止年度之全年業績公告 | --- | --- | --- | --- | |------------------------------------|---------------------|--------------------------|------------------| | | | | | | 財務摘要 | | | | | | | | | | | | 截至十二月三十一日止年度 | | | | 二零二三年 千美元 | 二零二二年 千美元 | 變動百分比 | | | | | % | | 收入 | 950,725 | 840,831 | 增加 15.8% | | | | | | | | | | （剔除匯率影響） | | 毛利 | 532,098 | 501,771 | 增加 6.0% ...

Investment Rating - The report maintains a "Buy" rating for the company, citing its strong R&D capabilities and leadership in the high-value medical consumables sector [3][6] Core Views - The company's 2023 performance fell below market expectations, with a 15% YoY revenue growth (excluding currency impact) and a net loss of up to $650 million (compared to $588 million in 2022) [2] - Excluding one-time factors, the net loss was up to $436 million, representing a reduction of over 13% compared to the previous year [2] - The company remains a leader in high-value medical consumables, with significant R&D progress and a robust pipeline of innovative products [2] Financial Performance Summary - Revenue is expected to grow from $970 million in 2023E to $1,331 million in 2025E, with a CAGR of 15.3% to 15.8% [4][8] - Net loss is projected to decrease from $423 million in 2023E to $387 million in 2025E [4][8] - EPS is forecasted to improve slightly from -23.08 cents in 2023E to -21.11 cents in 2025E [4][8] Business Segment Highlights - Key business segments showed strong growth: - Cardiovascular intervention (Xinmai Medical) grew 32% YoY - Neurointervention (MicroPort NeuroTech) grew over 22% YoY - Heart valve (XinTong Medical) grew 31-36% YoY - Surgical robotics (MicroPort Robotics) grew over 350% YoY [2] - Emerging businesses contributed to exponential revenue growth [2] R&D and Product Pipeline - The company invested $170 million in R&D in H1 2023, maintaining its position as the industry leader with 30 green channel products [2] - Key product milestones include: - Vascular intervention robot, left atrial appendage occluder, and MRI-compatible pacemaker approved for market - Venous stent system, occlusion balloon, and next-generation peripheral balloon catheter submitted for approval - Second-generation absorbable stent Firesorb expected to submit for approval in Q4 2023 [2] Market Data - Current share price: HKD 6.55 [5] - Total market capitalization: HKD 12.013 billion [6] - 3-month turnover rate: 66.8% [6] Financial Statements Summary - Revenue is projected to grow steadily, reaching $1,331 million by 2025E [8] - Gross margin remains healthy, increasing from $596 million in 2023E to $832 million in 2025E [8] - Operating cash flow is expected to remain negative, with a forecast of -$337 million in 2025E [10]

智通财经APP获悉，微创医疗(00853)近期获资金加仓，2月16日暴涨24%，今日早盘再涨超13%，截至 发稿，涨13.11%，报7.59港元，成交额1.28亿港元。 国金证券指出，基于海外市场旺盛的医疗需求、充足的产品盈利空间、国内企业制造优势和技术突破逐 步成型等原因以及对外资医疗器械企业的复盘，看好未来国产医疗器械海外拓展的前景，建议关注在产 品临床创新、制造供应、客户粘性渠道布局方面具备优势的企业。 值得注意的是，心脉医疗业绩预告显示，预计2023年年度实现营业收入11.74亿元人民币到12.01亿元， 同比增加31%到34%。预计2023年年度实现归母净利润为4.75亿元到4.92亿元，同比增加33%到38%。微 创脑科学业绩预告显示，于2023年预计集团录得经调整净利润不低于1.78亿元，同比增长至少约36%； 与上年亏损2468万元相比，2023年将实现净利润扭亏为盈且增长强劲。 ...

Revenue Growth and Financial Performance - Revenue increased by 19% to $482.605 million in the first half of 2023 compared to $404.984 million in the same period of 2022[11] - Gross profit rose by 16% to $288.416 million in H1 2023 from $247.702 million in H1 2022[11] - Net loss attributable to equity shareholders decreased by 18% to $162.618 million in H1 2023 from $198.130 million in H1 2022[11] - Global business revenue increased by 25% year-over-year to $483 million, driven by strong demand recovery in the medical sector[13] - Revenue from neurovascular intervention, cardiovascular intervention, heart valve, and large vessel & peripheral vascular intervention businesses grew by 45%, 42%, 41%, and 36% respectively year-over-year[13] - Surgical robot business revenue surged by 3,110% year-over-year, driven by commercialization progress[13] - Cardiovascular intervention business international revenue increased by 94% year-over-year, supported by overseas market penetration[13] - Orthopedic business revenue grew by 10% year-over-year, with domestic joint product implant volume nearly doubling[14] - Rhythm management business revenue increased by 5% year-over-year, with domestic revenue surging 107% due to the Rega® pacemaker[14] - Large vessel & peripheral vascular intervention business international revenue rose by 114% year-over-year, covering 28 overseas countries and regions[14] - Neurovascular intervention business achieved a 505% year-over-year increase in operating profit and turned a net profit[15] - Global business revenue reached $482.6 million, a significant increase of 25% year-over-year (excluding currency impact)[19] - International (non-China) business revenue was $234.4 million, a stable increase of 11% year-over-year (excluding currency impact)[19] - Cardiovascular intervention business revenue grew by 42% year-over-year to $79.2 million (excluding currency impact)[20] - Overseas revenue for the cardiovascular business surged by 93.7% year-over-year to $16.1 million (excluding currency impact)[20] - Sales in Asia (excluding China) and South America for the cardiovascular business increased by 142% and 125% year-over-year, respectively (excluding currency impact)[20] - Revenue from coronary balloons and stents in overseas markets grew by 130% and 59% year-over-year, respectively[20] - Domestic cardiovascular intervention business achieved sales revenue of approximately $63.1 million, a significant year-on-year increase of 33.5% (excluding exchange rate effects)[21] - The company's coronary stent and balloon products maintained the top market share in China, with the volume of interventional procedures gradually recovering[21] - The company's global orthopedic business revenue reached $115.9 million, a year-on-year increase of 10.0% (excluding exchange rate effects)[22] - International (non-China) orthopedic business revenue was $104.2 million, a year-on-year increase of 7.7% (excluding exchange rate effects), with EMEA region revenue increasing by 18%[23] - China orthopedic business revenue was $11.6 million, a year-on-year increase of 51.1% (excluding exchange rate effects), driven by a surge in surgical demand[23] - The company's rhythm management business achieved global revenue of $108.3 million, a year-on-year increase of 4.7% (excluding exchange rate effects)[25] - International (non-China) rhythm management business revenue was $100.5 million, a year-on-year increase of 2.3% (excluding exchange rate effects)[25] - Bluetooth® pacemaker sales increased by 49% year-on-year, despite supply chain challenges[25] - EEMEA and Asia-Pacific regions saw significant revenue growth in rhythm management, with increases of 73% and 63% respectively (excluding exchange rate effects)[25] - The company's cardiac rhythm management business in China achieved revenue of $7.8 million, a significant increase of 50.5% year-over-year (excluding currency impact)[26] - The company's domestically developed MRI-compatible pacemaker, Rega®, drove a 107% year-over-year increase in revenue for the domestic pacemaker product portfolio[26] - The company's aortic and peripheral vascular intervention business generated revenue of $89.0 million, a 35.5% year-over-year increase (excluding currency impact), with a net profit of $39.5 million, up 30.1%[27] - The company's overseas aortic and peripheral vascular intervention business achieved sales revenue of $6.0 million, a 114.3% year-over-year increase, with products now sold in 28 countries[28] - The neurointervention business recorded revenue of approximately $42.6 million, a 45.2% year-over-year increase (excluding currency impact), with a net profit of $8.4 million, turning a profit compared to the previous year[29] - Heart valve business revenue reached $25.0 million, a significant increase of 41.4% year-over-year (excluding currency impact)[31] - Heart valve business gross margin improved by 2 percentage points to 66.1% due to cost-saving measures and economies of scale[31] - Heart valve business operating efficiency improved, with R&D, distribution, and administrative costs as a percentage of revenue decreasing by 12 percentage points[31] - Implant volume for heart valve products increased by 46% year-over-year, driven by market share gains and procedure penetration[32] - VitaFlow® and VitaFlow Liberty® products expanded to approximately 70 new hospitals, covering over 500 hospitals in total[32] - International heart valve business revenue surged by 243.1%, driven by rapid growth in Latin America[32] - Surgical robot business revenue soared by 3,110.2% year-over-year (excluding currency impact) to $4.9 million[33] - Toumai® surgical robot completed over 1,200 cases, setting a new record for domestic surgical robot procedures[33] - Honghu® surgical robot completed over 600 clinical validation cases, including high-complexity surgeries[33] - Surgical medical device business revenue reached $3.1 million, a significant increase of 39.4% year-over-year (excluding exchange rate effects)[35] - The OCT system and disposable imaging catheters in the interventional imaging field saw significant growth in shipments and market share[36] - The company's cold and hot compress therapy device achieved coverage in over 150 hospitals in China, with distribution channels covering major first- and second-tier cities[36] - The first rehabilitation robot product, the "Lower Limb Rehabilitation Trainer," entered mass production and is set to begin domestic sales[36] - La Fenice® insulin pump sales nearly doubled year-over-year, driven by expanded sales channels and improved hospital repurchase rates[37] - Total revenue for the six months ended June 30, 2023, increased by 19.2% to $482.6 million, or 24.8% excluding currency impact, compared to $405.0 million in the same period of 2022[48] - Non-China sales accounted for 48.6% of total revenue, driven by the company's global strategy and diversified product portfolio[46] - Cardiovascular intervention business revenue grew by 30.5% (42.4% excluding currency impact) to $79.2 million, driven by market expansion and product optimization in key regions[49] - Orthopedic medical devices business revenue increased by 7.6% (10.0% excluding currency impact) to $115.9 million, supported by the adoption of new technologies like surgical robots[50] - Rhythm management business revenue rose by 3.7% (4.7% excluding currency impact) to $108.3 million, driven by increased elective surgeries and new product adoption[51] - Large vessel and peripheral vascular intervention business revenue grew by 25.7% (35.5% excluding currency impact) to $89.0 million, supported by strong demand and new product launches[52] - Neurointervention business revenue increased by 36.0% (45.2% excluding currency impact) to $42.6 million, driven by market-leading products and new product penetration[53] - Heart valve business revenue rose by 31.9% (41.4% excluding currency impact) to $25.0 million, driven by increased market recognition and sales of VitaFlow® products[54] - Surgical robot business revenue surged by 3,037.8% (3,110.2% excluding currency impact) to $4.9 million, reflecting rapid market adoption[47] - Surgical robot business revenue reached $4.9 million, a 3,110.2% increase year-over-year (excluding currency impact) or 3,037.8% increase in USD terms, driven by market expansion and increased sales of core products[55] - Surgical medical device business revenue increased to $3.1 million, up 39.4% year-over-year (excluding currency impact) or 28.3% in USD terms[56] - Other business revenue rose to $14.6 million, a 92.9% increase year-over-year (excluding currency impact) or 71.3% in USD terms, driven by strong growth in emerging sectors like interventional imaging and non-vascular intervention[57] - Revenue for the six months ended June 30, 2023, was $482.605 million, an increase from $404.984 million in the same period in 2022[105] - Gross profit for the six months ended June 30, 2023, was $288.416 million, up from $247.702 million in the same period in 2022[105] - Loss from operations for the six months ended June 30, 2023, was $159.943 million, an improvement from $185.569 million in the same period in 2022[105] - Net loss attributable to equity shareholders for the six months ended June 30, 2023, was $162.618 million, compared to $198.130 million in the same period in 2022[105] - Basic loss per share for the six months ended June 30, 2023, was 8.94 cents, compared to 10.94 cents in the same period in 2022[105] - Revenue from contracts with customers for medical device sales increased to $472.745 million in the first half of 2023, up from $399.521 million in the same period in 2022[116] - Total revenue from external customers reached $482.605 million in the first half of 2023, compared to $404.984 million in the first half of 2022[116] - Revenue from the Chinese market (operating country) grew to $248.179 million in the first half of 2023, up from $188.660 million in the same period in 2022[117] - Revenue from the North American market increased to $50.354 million in the first half of 2023, compared to $48.936 million in the first half of 2022[117] - Revenue from the European market rose to $132.128 million in the first half of 2023, up from $123.806 million in the same period in 2022[117] - Revenue from the Asian market (excluding China) increased to $34.078 million in the first half of 2023, compared to $30.040 million in the first half of 2022[117] - Revenue from the South American market grew to $11.052 million in the first half of 2023, up from $6.161 million in the same period in 2022[117] - Revenue from other regions decreased to $6.814 million in the first half of 2023, down from $7.381 million in the first half of 2022[117] - Revenue from property rentals in China and the US increased to $3.259 million in the first half of 2023, up from $1.831 million in the same period in 2022[117] - The cardiovascular intervention business generated $568.128 million in revenue, while the orthopedic medical device integration business contributed $533.021 million in revenue[121] - Total revenue for the six months ended June 30, 2023, was $415.229 million, with the largest contributions from the Orthopedic Medical Devices segment at $108.674 million and the Rhythm Management segment at $104.437 million[122] - The company reported a total segment loss of $192.374 million for the six months ended June 30, 2022, with the largest losses in the Surgical Robot segment at $71.177 million and the Rhythm Management segment at $36.777 million[122] - Total segment assets as of June 30, 2022, amounted to $3.557 billion, with the Cardiovascular Intervention segment holding the highest assets at $565.823 million[122] - The company's total segment liabilities as of June 30, 2022, were $1.425 billion, with the Rhythm Management segment having the highest liabilities at $438.940 million[122] - The company's comprehensive loss for the six months ended June 30, 2023, was $219.921 million, compared to $253.275 million for the same period in 2022[123] - Government subsidies contributed $10.842 million to other net income for the six months ended June 30, 2023, compared to $6.125 million in the same period in 2022[124] - The company's financing costs for the six months ended June 30, 2023, included $8.208 million in interest on convertible bonds and $11.007 million in interest on other interest-bearing borrowings[125] - Research and development costs for the six months ended June 30, 2023, were $199.130 million, with $3.466 million capitalized as development costs[127] - The company's current tax expense for the six months ended June 30, 2023, included $10.192 million in Chinese corporate income tax and $3.723 million in taxes from other jurisdictions[128] - Certain subsidiaries of the company are eligible for a preferential corporate income tax rate of 15% due to their certification as "High-Tech Enterprises"[128] - The company's basic loss per share for the six months ended June 30, 2023, was calculated based on a loss attributable to ordinary equity shareholders of $162.618 million, compared to $198.130 million for the same period in 2022[130] - The diluted loss per share for the six months ended June 30, 2023, was $171.898 million, compared to $204.794 million for the same period in 2022[131] - The company recognized new right-of-use assets of $9.240 million for manufacturing facilities, warehouses, and office buildings in the six months ended June 30, 2023, compared to $8.802 million in the same period in 2022[132] - The company acquired property, plant, and equipment with a cost of $42.970 million in the six months ended June 30, 2023, compared to $58.613 million in the same period in 2022[132] - The company incurred building construction costs of $48.559 million and capitalized development costs of $11.796 million in the six months ended June 30, 2023, compared to $30.338 million and $8.621 million, respectively, in the same period in 2022[132] - The company disposed of or wrote off property, plant, and equipment with a net book value of $11.937 million, resulting in a loss of $5.492 million in the six months ended June 30, 2023, compared to a net book value of $612,000 and a loss of $79,000 in the same period in 2022[132] - The company's trade receivables, net of loss provisions, amounted to $188.667 million as of June 30, 2023, compared to $170.873 million as of December 31, 2022[135] - The company's trade payables amounted to $146.834 million as of June 30, 2023, compared to $143.261 million as of December 31, 2022[137] - The company received a cash consideration of RMB 58 million (equivalent to $8.027 million) for the capital increase of MicroPort YouTong Medical Technology (Jiaxing) Co., Ltd., which was recorded as "other payables" as of June 30, 2023[138] - Total interest-bearing borrowings increased to $674,664 thousand as of June 30, 2023, compared to $522,076 thousand as of December 31, 2022[140] - Bank loans with collateral amounted to $254,392 thousand, and unsecured bank loans were $420,272 thousand as of June 30, 2023[141] - The company's convertible bonds outstanding as of June 30, 2023, were $748,672 thousand, with a market value of approximately $596.8 million[143][144] - The company repurchased $35,000,000 of its 2021 convertible bonds for a total cash consideration of $31,869,000 during the first half of 2023[144] - The weighted average exercise price of outstanding share options increased to HK$17.12 as of June 30, 2023, from HK$16.16 as of December 31, 2022[149] - The company did not propose any interim or final dividends for the six months ended June 30, 2023[146] - The company did not repurchase any shares under the share reward plan during the six months ended June 30, 2023[147] - The company's total bank financing drawn as of June 30, 2023, was $109,158,000, secured by land use rights and self-use buildings with a net book value of $185,453,000[141] - The company's total bank loans secured by equity interests in subsidiaries amounted to $145,234,000 as of June 30, 2023[141] - The company is actively seeking potential financing opportunities to meet its liquidity needs[145] - The company granted 10,079,716 stock options to MicroPort CardioFlow MedTech Corporation at a weighted average exercise price of HKD 2.53, with a vesting period from March 2023 to March 2028[151] - The company granted 2,115,311 stock options to Suzhou MicroPort Orthopedics (Group) Co., Ltd. at a weighted average exercise price of CNY 11.42, with a vesting period from April 2023 to April 2028[151] - The company granted 1,803,541 shares to employees under the share incentive plan at a fair value of $4,241,000, compared to 1,578,325 shares at $3,559,000 in the same period last year[152] - MicroPort

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） 截至二零二三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 | | | | 二零二三年 | 二零二二年 | 變動 | | | 千美元 | 千美元 | 百分比 | | | （未經審核） | （未經審核） | | | 收入 | 482,605 | 404,984 | 增加 25% | | | | | （剔除匯率影響） | | 毛利 | 288,416 | 247,702 | 增加 16% | | 期間虧損 | (219,921) ...

Car First Control Comment | --- | --- | --- | |---------------------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | MicroPort Scientific Corporation | | | | | | | | 微創醫療科學有限公司 | | | | | | | | (於開曼群島註冊成立的有限公司) (股票代码：00853） | | | 年度報告 A M (202) 1955 a 16 2 11 g -17 Pr | --- | --- | --- | --- | |-------|---------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | 公司資料 | | 3 | | | 財務摘要 | | 4 | | | | | | | | 五年財務摘要 | | 5 | | | 公司概況 | | 6 | | | 主席報告 ...

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） 截至二零二二年十二月三十一日止年度之全年業績公告 | --- | --- | --- | --- | |----------------------|------------|--------------------------|------------------| | | | | | | 財務摘要 | | | | | | | | | | | | 截至十二月三十一日止年度 | | | | 二零二二年 | 二零二一年 | 變動百分比 | | | 千美元 | 千美元 | % | | 收入 | 840,831 | 778,639 | 15.6% | | | | | （剔除匯率影響） | | 毛利 | 501,771 | 491,773 | 2.0% | | 年內虧損 | (588,115) | (351,295) | 不適用 ...

| --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|----------------|-------|-------|-------|--------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | ØMicroPort微创 | | | | | | | | | 罪度報告 | | | | | | | | | | | | | MicroPort Scientific Corporation 微創醫療科學有限公司 (於開曼群島註冊成立的有限公司) (股票代碼：00853) | Alley Allery Allery All All o 0 0 ti 6 150 | --- | --- | --- | --- | --- | --- | |-------|------------------------------------ ...