Financial Performance - For the fiscal year ending December 31, 2023, the company reported revenue of RMB 665.6 million, an increase of 21.6% compared to RMB 547.4 million in the previous fiscal year[2]. - The company achieved a net profit of RMB 134.6 million for the fiscal year 2023, marking a significant turnaround from a net loss of RMB 24.7 million in the previous year[3]. - The adjusted net profit under non-Hong Kong Financial Reporting Standards reached RMB 195.4 million, representing a 49.5% increase from RMB 130.7 million in the prior year[3]. - Revenue for the fiscal year 2023 increased by 21.6% to RMB 665.6 million from RMB 547.4 million in 2022, driven by leading market share products and new product approvals[91]. - Gross profit rose by 30.2% to RMB 511.8 million in 2023, with a gross margin of 76.9%, up from 71.8% in 2022[94]. - Basic and diluted earnings per share for 2023 were RMB 0.25, compared to a loss per share of RMB 0.04 in 2022[47]. - Total comprehensive income for the year was RMB 145,785 thousand, compared to a loss of RMB 36,453 thousand in 2022[48]. - The company recorded a net income of RMB 40.0 million in 2023, up 21.6% from RMB 32.9 million in 2022, primarily due to increased interest income[97]. Market Position and Growth - The Chinese neurointerventional medical device market is projected to grow from RMB 8.16 billion in 2023 to RMB 20.26 billion by 2028, indicating substantial growth potential[5]. - The company holds the largest market share among domestic brands in the Chinese neurointerventional medical device market, ranking fourth overall by sales revenue in 2023[7]. - The company is positioned to benefit from ongoing reforms in China's healthcare system, which prioritize clinical efficacy and cost management in medical device procurement[6]. - The group established a promotion team with 85 employees, averaging over 12 years of industry experience, covering 3,000 hospitals nationwide and supporting approximately 167,000 neurointerventional surgeries[9]. - The group’s international business generated RMB 317 million in revenue, a 44.6% increase year-on-year, with significant growth in the APAC, EMEA, and LATAM regions[12]. Product Development and Innovation - The company has developed several innovative products, including the world's first stent system for treating intracranial atherosclerosis and the first domestically approved flow-diverting stent for cerebrovascular diseases[7]. - The company achieved significant progress in its R&D projects, with five products including Tigertriever® and WAVE-track™ receiving approval from the National Medical Products Administration (NMPA) in 2023[15]. - The company has a diversified product portfolio with 18 approved products in China and 12 in various development stages, ranking first among domestic neurointerventional device companies[14]. - The company has a total of 11 hemorrhagic stroke treatment products in its pipeline, with five already commercialized, covering key treatment areas[18]. - The company anticipates regulatory approvals for several products in the coming years, including approvals expected in 2024 and 2026 for various devices[16]. Sales and Distribution - The sales revenue from hemorrhagic stroke products reached RMB 425.3 million in the fiscal year 2023, representing a 42.0% increase compared to the previous year, driven by the increased clinical usage of Tubridge® stents and NUMEN® coils[18]. - The Tubridge® stent entered approximately 250 new hospitals, cumulatively covering over 1,000 hospitals, significantly boosting the sales of the Fastrack® microcatheter system[10]. - The Bridge® stent entered approximately 500 new hospitals, with clinical usage doubling compared to the previous year, and it secured exclusive procurement in Henan Province[10]. - The acute ischemic stroke product line generated sales revenue of RMB 25.7 million in 2023, marking a significant increase of 394.2% compared to the previous year, largely due to contributions from the newly launched Neurohawk® stent and X-track® catheter[29]. Financial Management and Expenses - Employee costs rose to RMB 180,869,000 in 2023 from RMB 160,428,000 in 2022, an increase of approximately 12.8%[64]. - Research and development expenses amounted to RMB 199,665,000 in 2023, up from RMB 141,532,000 in 2022, representing a significant increase of approximately 41%[66]. - Distribution costs grew by 27.6% to RMB 110.7 million in 2023, attributed to the recovery of distribution activities in the Chinese market and expanded overseas business[95]. - Administrative expenses decreased by 17.0% to RMB 56.1 million in 2023, due to improved operational efficiency[96]. - The company recognized an impairment loss of RMB 30,200,000 on its investment in Rapid Medical, reducing its carrying amount[79]. Corporate Governance and Future Plans - The company has complied with all applicable corporate governance codes during the reporting period[122]. - The company plans to enhance operational efficiency by optimizing quality control systems and expanding production facilities to increase capacity[45]. - The company aims to establish overseas R&D and production centers to enhance global brand recognition and attract talent in the neurointervention field[46]. - The company plans to optimize its product portfolio through strategic acquisitions, investments, or collaborations, with an expected timeline for completion by December 31, 2024[119]. - The board proposed a final dividend of HKD 0.11 per share for the year ended December 31, 2023, subject to shareholder approval[127].

Financial Performance - MicroPort NeuroTech reported a revenue of RMB 500 million for the first half of 2023, representing a 20% increase compared to the same period last year[9]. - The company achieved a gross margin of 65%, which is a slight improvement from 63% in the previous year[9]. - The company reported a net profit of RMB 150 million for the first half of 2023, up from RMB 120 million in the same period last year, marking a 25% increase[9]. - The company achieved a revenue of approximately RMB 299.2 million in the first half of 2023, representing a significant increase of 45.2% compared to RMB 206.0 million in the same period last year[10]. - Operating profit reached approximately RMB 82.2 million, marking a substantial growth of 505.2% from RMB 13.6 million year-on-year[10]. - The net profit for the period was approximately RMB 58.0 million, a turnaround from a loss of RMB 93.7 million in the previous year[10]. - The management provided a revenue guidance of RMB 1.1 billion for the full year 2023, reflecting a growth rate of 15%[10]. Product Development and Innovation - The company has allocated RMB 100 million for R&D in 2023, focusing on innovative technologies in neuro-intervention[10]. - The company plans to launch two new products in the neurovascular segment by the end of 2023, aiming to capture an additional 5% market share[10]. - The company has developed several innovative products, including the world's first stent system for intracranial atherosclerosis and the first domestically approved flow-diverting stent[14]. - The company has a total of 17 products approved and commercialized in China, with 13 products in various stages of development, ranking first among domestic neurointerventional medical device companies[20]. - The new generation Tubridge Plus® stent is expected to be launched in 2024, while the Neurohawk® stent 2nd generation is also anticipated in 2024[22]. - The company is actively expanding its product portfolio and market presence through new product development and regulatory approvals[21]. Market Expansion and Strategy - MicroPort NeuroTech is expanding its market presence in Southeast Asia, targeting a revenue contribution of 10% from this region by 2025[10]. - The company holds an 8% market share in China's neurointerventional medical device market, which has nearly doubled since 2020[14]. - The company is positioned to benefit from ongoing healthcare reforms, with a focus on high-value medical devices expected to see faster growth[13]. - The company plans to continue its strategy of global integration and sustainable high-quality development, focusing on innovative product offerings in the neuro-interventional space[9]. - The company plans to expand its global presence by entering the top ten countries and regions for neurointerventional procedures, enhancing its international team and product offerings[49]. Regulatory Approvals and Compliance - The company received regulatory approval for four new products in China, including Tigertriever® and W-track® devices, while three additional products are under review[9]. - The company has obtained MDSAP certification, which lowers the audit costs for entering overseas markets[9]. - MicroPort NeuroTech emphasized its commitment to corporate governance and transparency in its operations, aligning with the latest regulatory standards[10]. Financial Position and Investments - The group's cash and cash equivalents as of June 30, 2023, were approximately RMB 827.5 million, a slight decrease from RMB 827.9 million as of December 31, 2022[60]. - The group's total borrowings as of June 30, 2023, were zero, with a capital debt ratio of 4.6%, down from 5.7% as of December 31, 2022[61]. - The company has a total of 165 R&D personnel, with over 55% holding a master's degree or higher, indicating a strong focus on innovation and technical expertise[41]. - As of June 30, 2023, the company holds 196 authorized patents, including 44 overseas patents, reflecting its commitment to independent intellectual property development[42]. - The company has established a digital quality control system covering the entire production process, which has been recognized with multiple international quality certifications[43]. Sales and Distribution - The company expanded its product reach to over 200 new hospitals, supporting approximately 145,000 surgeries across more than 2,800 hospitals nationwide[8]. - The company has established a promotion team with nearly 100 employees, averaging over 8 years of industry experience, and has partnered with over 200 distributors, covering all 31 provinces in China[16]. - The market share-leading product Tubridge® has entered over 150 new hospitals, totaling coverage in over 940 hospitals, driving rapid growth in the accompanying Fastrack® microcatheter system[16]. Research and Development - Research and development costs increased by approximately 71.9% from RMB 49.2 million to RMB 84.5 million, reflecting the growth in existing and new R&D projects[54]. - The company has conducted 7 overseas surgical training and academic exchange activities in the first half of 2023, promoting products like Tubridge® at the World Neurointervention Congress[19]. - The company has a pipeline of 11 hemorrhagic stroke treatment products, with 5 already commercialized, covering key treatment areas[23]. Shareholder Information - Major shareholders include MP Scientific Corporation with a 53.35% stake and China Micro-Invasive Investment Management with a 10.39% stake[66]. - The company did not declare any interim dividend for the six months ended June 30, 2023[80]. - During the six months ended June 30, 2023, 516,717 share awards were granted and fully vested[72].

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 299,193 thousand, representing a 45.2% increase from RMB 205,993 thousand in the same period last year[2] - Gross profit for the same period was RMB 232,637 thousand, up 64.4% from RMB 141,547 thousand year-on-year[2] - Operating profit surged to RMB 82,200 thousand, a significant increase of 505.2% compared to RMB 13,582 thousand in the previous year[2] - The company reported a profit of RMB 57,999 thousand for the period, recovering from a loss of RMB 93,729 thousand in the same period last year[2] - Earnings per share improved to RMB 0.11, compared to a loss per share of RMB 0.20 in the previous year[2] - Total comprehensive income for the period was RMB 83,278 thousand, recovering from a loss of RMB 139,695 thousand in the previous year[5] - The company recorded other net income of RMB 18,198 thousand, compared to RMB 4,840 thousand in the previous year[4] - The pre-tax profit for the six months ended June 30, 2023, was RMB 18,198,000, compared to RMB 4,840,000 for the same period in 2022[13] - The company reported a tax expense of RMB 10,315,000 for the six months ended June 30, 2023, up from RMB 5,004,000 in the same period of 2022[16] Revenue Growth Drivers - The growth was driven by increased market penetration of leading products and several new product launches, contributing to revenue growth[3] - Revenue from medical device sales for the six months ended June 30, 2023, was RMB 298,185,000, an increase of 45.2% compared to RMB 205,189,000 for the same period in 2022[12] - The company's international business achieved significant progress, with overseas revenue reaching RMB 150 million, a year-on-year increase of 27.3%[32] - Sales revenue from hemorrhagic stroke products recorded RMB 206.8 million, representing a 76.0% year-on-year growth, primarily driven by increased clinical usage of the Tubridge® stent and global sales of the NUMEN® coil[36] Research and Development - Research and development costs increased to RMB 84,531 thousand from RMB 49,183 thousand year-on-year, reflecting ongoing investment in innovation[4] - R&D expenses for the six months ended June 30, 2023, amounted to RMB 90,409,000, representing a 44.8% increase from RMB 62,550,000 in the same period of 2022[15] - The company has a diverse pipeline with 17 products approved for commercialization in China and 13 products at various development stages, ranking first among domestic neurointerventional medical device companies[34] - The company has completed all patient enrollments for the clinical studies of the Tubridge Plus® stent and the PARAT MINI study for treating medium-sized and wide-neck aneurysms[39] Market Position and Expansion - The company holds an 8% market share in the Chinese neurointerventional medical device market, which has nearly doubled since 2020[27] - The Tubridge® stent has over 45% market share in China based on 2022 surgical volume, ranking second overall and first among domestic brands[36] - The company has established partnerships with over 200 distributors, covering all 31 provinces and municipalities in China[29] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[104] Financial Health and Investments - Total assets less current liabilities amounted to RMB 1,649,713 thousand, compared to RMB 1,573,200 thousand at the end of the previous year[7] - The company had cash and cash equivalents of approximately RMB 827.5 million as of June 30, 2023, compared to RMB 827.9 million as of December 31, 2022, with net cash inflow from operating activities of approximately RMB 32.4 million during the reporting period[86] - The company's total borrowings remained zero as of June 30, 2023, with a capital debt ratio of 4.6%, down from 5.7% as of December 31, 2022[87] - The company has achieved over 90% localization rate for raw materials, enhancing supply chain stability and optimizing production costs[61] Future Outlook and Strategic Plans - The company has provided a future outlook with a revenue guidance of RMB 120 million for the next six months, which would represent a 20% increase year-on-year[104] - A strategic acquisition of a local competitor is in progress, which is expected to enhance the company's product offerings and increase market penetration by 25%[104] - The company plans to enhance its innovation capabilities and expand its product portfolio to provide comprehensive solutions for cerebrovascular diseases[63] - The company intends to expand its global presence by entering the top ten countries and regions for neurointerventional procedures, establishing overseas R&D and production centers[66] Corporate Governance and Compliance - The company aims to enhance its corporate governance practices in line with the latest regulations, ensuring compliance and transparency[102] - The independent auditor has reviewed the interim financial report, which remains unaudited[97] - The board has resolved not to declare any interim dividend for the reporting period[98]

Financial Performance - MicroPort NeuroTech reported a revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-over-year increase of 15%[2]. - The company achieved a gross profit margin of 65%, which is an improvement from the previous year's margin of 60%[2]. - The company reported a net profit of RMB 300 million for 2022, a 20% increase compared to the previous year[2]. - The company achieved a revenue of RMB 547.4 million in 2022, representing a significant increase of 43.0% compared to the previous year[13]. - Adjusted net profit for the year was RMB 130.7 million, reflecting a growth of 38.9% year-on-year[13]. - The company achieved a revenue of RMB 547.4 million in the fiscal year 2022, representing a growth of 43.0% compared to the previous year[18]. - International business revenue reached RMB 21.9 million, showing a remarkable increase of 3,492% year-on-year[18]. - The sales revenue of hemorrhagic stroke products reached RMB 299.6 million in FY2022, representing a 40.0% increase year-over-year, primarily driven by increased sales of NUMEN® coils and higher clinical usage of Tubridge® stents[26]. - The sales revenue for intracranial atherosclerosis narrowing products reached RMB 148.7 million in the fiscal year 2022, representing a 31.6% increase year-on-year, driven by the accelerated market promotion of the Bridge® vertebral artery stent[33]. - The sales revenue for access products reached RMB 92.4 million in the fiscal year 2022, a 69.7% increase year-on-year, attributed to the growth in Asahi® guidewire sales and the contribution of the new U-track® support catheter[43]. Market Expansion and Strategy - The company has set a revenue guidance of RMB 1.5 billion for the fiscal year 2023, reflecting a growth target of 25%[2]. - MicroPort NeuroTech plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[2]. - The company is actively expanding its global business presence and enhancing online and offline medical education training[18]. - The company is expanding its market presence in Asia, targeting a 20% increase in market share by the end of the fiscal year[87]. - The company has established subsidiaries in the USA, UK, Netherlands, and Brazil, expanding its business presence across four continents[13]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of up to RMB 500 million allocated for this purpose[2]. - A strategic acquisition of a smaller competitor is in progress, expected to enhance the company's product offerings and customer base[88]. Research and Development - MicroPort NeuroTech is investing RMB 200 million in R&D for new product development, focusing on innovative neurovascular devices[2]. - The company has 166 authorized patents, including 37 overseas patents, with 262 additional patents pending registration[11]. - The company launched several new products in 2022, including the NUMEN® embolization coil and Bridge® vertebral artery drug-eluting stent system, contributing significantly to revenue growth[18]. - The company has established a strong pipeline of 10 hemorrhagic stroke treatment products, with five already commercialized[26]. - The company plans to launch new products, including Numen NEST® and biodegradable coils, expected to be approved by 2025 and 2026, respectively[25]. - The company is also developing new products like Q-track® microcatheters, with expected approval in 2023 and 2026[25]. Operational Efficiency - The company aims to enhance operational efficiency and reduce costs through improvements in its operational system and production capacity expansion[52]. - The company has achieved a 30% reduction in production costs through improved operational efficiencies[85]. - The production facility in Zhangjiang, Shanghai, has an annual design capacity increased from 110,000 to 180,000 units, with plans to further increase to 350,000 units by 2025[48]. - The company achieved a domestic raw material localization rate of over 90% by the end of the reporting period[48]. Corporate Governance and Compliance - The company has implemented new compliance strategies to improve corporate governance, aiming for a 10% reduction in operational risks[87]. - The board of directors includes experienced professionals with backgrounds in engineering, marketing, and management, ensuring robust governance[80]. - The company has established a shareholder communication policy to promote effective communication with shareholders and encourage active interaction[171]. - The company has adopted a share incentive plan to reward directors and eligible employees, reflecting its commitment to talent recognition[106]. - The company has maintained directors' liability insurance since its listing to provide adequate protection for its directors in the performance of their duties[117]. - The company has established a whistleblowing policy allowing employees and stakeholders to report concerns about misconduct anonymously[164]. Employee and Talent Management - The company aims to enhance employee skills and career development, fostering talent to grow alongside the organization[97]. - The company has established a competitive compensation and benefits system, emphasizing employee welfare and performance recognition[105]. - The company has a total of 167 R&D personnel, with approximately 50% holding a master's degree or higher as of the end of 2022[46]. - The company has implemented regular compliance training for marketing staff to ensure accurate and truthful information dissemination[198]. Environmental, Social, and Governance (ESG) - The company’s first ESG report covers the period from January 1, 2022, to December 31, 2022, disclosing relevant ESG information[177]. - The company has set annual ESG management goals covering resource use and health safety, with regular reviews of progress[184]. - The company has established an ESG governance framework, with the board of directors being the highest authority responsible for reviewing ESG-related risks and approving public disclosures[185]. - The company emphasizes responsible supply chain management and product safety, engaging suppliers in training and evaluation processes[188]. - The company has a zero-tolerance policy towards corruption and bribery, requiring all employees to sign a code of conduct prohibiting improper behavior[195]. Risk Management - The company has implemented various risk management procedures and guidelines across key business processes, including project management, sales, leasing, financial reporting, human resources, and IT[163]. - The internal audit department conducted independent risk assessments to identify potential risks affecting the group, including strategic, financial, market, operational, and legal risks[163]. - The board is responsible for evaluating and determining the nature and extent of risks the company is willing to take to achieve strategic objectives[163].

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分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 MicroPort NeuroTech Limited 微創腦科學有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2172） 截至2022年12月31日止年度之 年度業績公告 | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------|-----------------------------------------------------------------------|- ...

MicroPort NeuroTech Limited 微創腦科學有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：2172 INTERIM REPORT 2022 中期報告 INTERIM REPORT 2022 中期報告 MicroPort NeuroTech Limited 微創腦科學有限公司 C M Y CM MY CY CMY K ai166366582627_MicroPort NeuroTech IR2022 Cover 7mm op.pdf 1 20/9/2022 下午5:23 目錄 | 2 | 釋義 | | --- | --- | | 4 | 公司資料 | | 6 | 總裁致辭 | | 8 | 財務摘要 | | 9 | 管理層討論及分析 | | 28 | 企業管治及其他資料 | | 33 | 獨立核數師報告 | | 34 | 綜合損益表 | | 35 | 綜合損益及其他全面收益表 | | 36 | 綜合財務狀況表 | | 38 | 綜合權益變動表 ...