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，概不就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 泰 醫 療 器 械（ 杭 州 ）股 份 有 限 公 司 （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號： 2235） 承董事會命 微泰醫療器械（杭州）股份有限公司 MicroTech Medical (Hangzhou) Co., Ltd. 董事長 董事會會議召開日期 微泰醫療器械（杭州）股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈， 本公司將於2025年8月29日（星期五）舉行董事會會議，其中包括審議及批准本 公司及其附屬公司截至2025年6月30日止六個月之未經審計的中期業績及其發 佈，並考慮建議派發中期股息（如有）。 鄭攀 中國，杭州，2025年8月18日 於本公告日期，本公司執行董事為鄭攀博士、于非博士、施永輝博士及劉秀女士；本公司非 執行董事為毛碩先生及高韻女士；及本公司獨立非執行董事為厲力華博士、王春鳳女士、何 建昌先生及程華博士 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 微泰醫療器械（杭州）股份有限公司 (於中華人民共和國注冊成立) 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02235 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 169,235,842 | RMB | | 1 RMB | | 169,235,842 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 169,235,842 | RMB | | 1 RMB | | 169,235,842 | | 2. 股份分類 | 普通股 | ...

Core Points - The company, Weitai Medical Devices (Hangzhou) Co., Ltd., has initiated a voluntary recall of its subcutaneous infusion sets for insulin pumps due to potential non-compliance with product technical requirements [1] - The recall is classified as a Class III recall, which indicates that the products involved do not pose a significant risk of injury or illness [1] - A total of 25,660 sets of the affected product, registered under the certificate number National Medical Device Approval 20173143333, were sold in China [1] Summary by Category - **Product Recall** - The company has proactively recalled the insulin pump subcutaneous infusion sets due to UV absorbance results that may not meet technical standards [1] - The recall is classified as Class III, indicating a lower risk level [1] - **Sales Impact** - The recall affects 25,660 units sold in the Chinese market [1] - Detailed information regarding the models, specifications, and batches of the recalled products is available in the Medical Device Recall Event Report [1]

Financial Performance - In the fiscal year 2024, the company reported total revenue of 346 million yuan, representing a year-on-year growth of 36.48% [2] - The net profit attributable to shareholders was a loss of 63.12 million yuan, an improvement from a loss of 125 million yuan in the same period last year [2] - The net cash flow from operating activities was -121 million yuan, an improvement from -153 million yuan in the previous year [2] - The basic earnings per share were -0.15 yuan, with a weighted average return on equity of -3.09% [2][18] Valuation Metrics - As of April 30, 2024, the company's price-to-book ratio (TTM) was approximately 1.22 times, and the price-to-sales ratio (TTM) was about 6.99 times [2] Revenue Composition - The revenue composition for 2024 included 340.7 million yuan from the sale of medical devices and consumables, with minimal contributions from other services and rental payments [12] Cash Flow Analysis - The net cash flow from financing activities was -33.15 million yuan, a decrease of 9.69 million yuan compared to the previous year [22] - The net cash flow from investment activities was 121 million yuan, compared to -541 million yuan in the previous year [22] Asset and Liability Changes - As of the end of 2024, cash and cash equivalents decreased by 10%, while accounts receivable increased by 58.54% [30] - The company saw a significant increase in contract liabilities by 241.53% and accounts payable by 112.32% [33] Financial Ratios - The current ratio was reported at 11.41, and the quick ratio was 11.11, indicating a strong liquidity position [36]

Financial Performance - Revenue for 2024 reached RMB 345.615 million, a 36.4% increase from RMB 253.228 million in 2023[12] - Gross profit for 2024 was RMB 182.849 million, up 51.5% from RMB 120.665 million in 2023[12] - The net loss for 2024 decreased to RMB 63.118 million from RMB 125.016 million in 2023, indicating improved profitability[12] - The company's operating revenue for the year ending December 31, 2024, was RMB 345.62 million, a 36.5% increase from RMB 253.23 million for the year ending December 31, 2023, primarily driven by the launch and commercialization of the new generation continuous glucose monitoring system AiDEX X[43] - The continuous glucose monitoring system generated RMB 180.43 million in revenue, accounting for 52% of total revenue, compared to RMB 75.71 million and 30% in the previous year[44] - The gross profit for the year ending December 31, 2024, was RMB 182.85 million, a 51.5% increase from RMB 120.67 million in the previous year, with the gross margin improving from 47.7% to 52.9%[46] - The company's operating costs increased by 22.8% to RMB 162.77 million, up from RMB 132.56 million, mainly due to increased labor and material costs driven by higher sales volumes[45] - Research and development expenses rose by 9.2% to RMB 76.56 million, up from RMB 70.10 million, reflecting ongoing product development and clinical trials[48] Market Expansion and Product Development - Cumulative users of the continuous glucose monitoring system exceeded 600,000, driving a 138% year-on-year increase in sales revenue[8] - The company has expanded its product coverage to 108 countries and regions, enhancing its international market presence[8] - The number of hospitals cooperating with the diabetes digital management platform surpassed 2,200, increasing the scale of healthcare personnel served from over 7,000 to over 10,000[8] - The company plans to accelerate the development and clinical registration of new products, including the CGM and PanCares artificial pancreas system, in 2025[9] - The company aims to expand its market share and brand reputation for core products, with a projected annual growth rate of over 20% for continuous glucose monitoring systems in China[64] - The company has successfully entered markets in 108 countries, including Europe, the Middle East, Africa, Asia, and Latin America, with positive feedback on its Equil brand products from local doctors and patients[66] - The company plans to enhance its product portfolio by advancing the development and clinical registration of new products, including the second-generation patch insulin pump system and the new AiDEX X continuous glucose monitoring system[68] - The company is focused on upgrading diabetes management through an innovative model combining devices, algorithms, and cloud platforms, aiming to improve monitoring and management efficiency[69] Research and Development - R&D investment for the reporting period was RMB 76.56 million, an increase from RMB 70.10 million in 2023, primarily for personnel expenses and ongoing product development[34] - The company aims to integrate advanced analytics and AI algorithms into its cloud-based artificial pancreas solution for personalized glucose management[22] - The company’s product pipeline includes five major categories, focusing on diabetes monitoring, treatment, and management technologies[16] - The new generation AiDEX X continuous glucose monitoring system has entered rapid commercialization after receiving approvals from national and EU authorities[32] Corporate Governance and Management - The company has a strong focus on strategic planning, international business development, and capital market activities led by Dr. Shi Yonghui, the Chief Strategic Development Officer[78] - The financial management is overseen by Ms. Liu Xiu, who has over 18 years of experience in finance and investment[80] - The leadership team includes experienced professionals with backgrounds in biomedical engineering and strategic consulting, contributing to the company's growth strategy[85] - The company is committed to maintaining high standards of corporate governance and transparency in its operations[85] - The board of directors includes independent members who provide oversight and strategic guidance on corporate governance and audit matters[85] - The company has established specific terms of reference for its four board committees, ensuring clear definitions of their powers and responsibilities[124] - The board has maintained a balanced diversity among its members, considering various factors such as skills, experience, and gender[135] Risk Management and Compliance - The board acknowledges its responsibility for risk management and internal control systems, which aim to manage significant risks rather than eliminate them[147] - The company has adopted a series of risk management policies to continuously identify, assess, and monitor key risks related to its strategic objectives[150] - The company has established a risk management and internal control system, which is reviewed annually, and is deemed effective and sufficient for the year ending December 31, 2024[154] - The company has implemented various internal control measures across its business operations, including employee training on compliance with policies related to intellectual property protection and environmental safety[152] - The company has a strict anti-corruption policy for sales and marketing activities, requiring distributors to provide written commitments to adhere to the company's standards[152] Sustainability and Social Responsibility - The company is committed to sustainability, with plans to reduce operational carbon emissions by 25% over the next three years[104] - The company is committed to integrating social responsibility into its business development strategies and human resource management[183] - The company has established an ESG supervisory committee to oversee and implement ESG strategies, consisting of the CFO, securities officer, legal officer, and administrative executive[185] - The company identified 23 material issues based on industry trends, national regulations, and international standards to enhance sustainable development performance[189] - The company engages with stakeholders to understand their concerns and expectations, ensuring transparency and accountability in operations[186][188] Shareholder Engagement - The company communicates with shareholders through various channels, ensuring their rights are protected during significant matters presented at the annual general meeting[162] - The company has established a website for public access to the latest information regarding its operations and financial data[171] - The company emphasizes the importance of effective communication with shareholders to enhance understanding of its business performance and strategies[171] - The company has a policy for shareholders to propose extraordinary general meetings if the board does not respond within a specified timeframe[166]

Summary of Weitai Medical Conference Call Company Overview - **Company**: Weitai Medical - **Industry**: Continuous Glucose Monitoring (CGM) and Insulin Pump Systems Key Financial Performance - **2024 Revenue**: 346 million CNY, a year-on-year increase of 36.5% [3] - **Gross Profit**: 183 million CNY, a year-on-year increase of 51.5%, with a gross margin of 52.9%, up by 5.2 percentage points from the previous year [3] - **Net Loss**: 63.11 million CNY, a reduction of 49.5% compared to 2023 [3] - **Cash Reserves**: 1.697 billion CNY as of the end of 2024 [3] - **R&D Expenses**: 76.56 million CNY, an increase of 9.2% from 2023 [3] Product Performance and Market Position - **New Generation CGMS Sales**: 180 million CNY, accounting for 52.2% of main business revenue, with a year-on-year growth of 138.3% [4] - **User Base**: Over 600,000 cumulative users for the new generation CGMS [4] - **E-commerce Channel**: Completed construction, with significant growth expected in 2025 [7] - **International Market**: Products commercialized in 108 countries, with CE certification for the new CGMS [8] Product Development and Regulatory Approvals - **New Product Submissions**: Multiple new insulin pump systems and CGMS have submitted registration applications [5] - **First Generation CGM Expansion**: Approved for use in children and adolescents [5] Market Growth Expectations - **2025 CGM Business Growth**: Expected to double, with domestic CGM growth rate projected at over 50% [4][13] - **Insulin Pump Business**: Steady growth anticipated, with a focus on pediatric applications [14] Cost Management and Efficiency - **Cost Reduction Measures**: Enhanced operational efficiency and reduced procurement costs [16] - **Future Gross Margin**: Expected to continue rising due to improved management and production cost reductions [16] Sales and Marketing Strategy - **Sales Expense Ratio**: Expected to be below 50% in 2025, despite absolute growth in sales expenses [18] - **E-commerce Sales Growth**: Anticipated to double in 2025 [19] - **Market Expansion Plans**: Increased investment in new customer acquisition and channel enhancement [20] AI and Technological Integration - **AI Applications**: Initial applications in internal operations, with future potential for consumer-facing AI products [21] Competitive Landscape - **Market Penetration**: Current CGM penetration in China is about 5%, with significant growth potential [13][28] - **Competitor Analysis**: Imported brands like Abbott are losing market share to domestic manufacturers [13] Conclusion - **Profitability Outlook**: Expected to reach breakeven or slight profitability in 2025, with significant revenue growth anticipated [27] - **Market Demand**: High growth trajectory in the domestic CGM market, with increasing health awareness among consumers [28]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported a revenue of RMB 345.62 million, representing a 36.5% increase from RMB 253.23 million for the fiscal year ending December 31, 2023[3]. - Gross profit for the same period was RMB 182.85 million, up 51.5% from RMB 120.67 million, with a gross margin of 52.9%, an increase of 5.2 percentage points from 47.7%[5]. - The net loss for the fiscal year was RMB 63.12 million, significantly reduced from a loss of RMB 125.02 million, marking a 49.5% improvement[6]. - Total operating revenue for 2024 reached RMB 345.62 million, a 36.4% increase from RMB 253.23 million in 2023[18]. - Net profit for 2024 was RMB (63.12) million, improving from RMB (125.02) million in 2023, representing a 49.6% reduction in losses[18]. - Basic and diluted earnings per share for 2024 were both RMB (0.15), compared to RMB (0.29) in 2023, indicating a 48.3% improvement[19]. - Other comprehensive income after tax for 2024 was RMB 113.99 million, down from RMB 314.51 million in 2023, a decrease of 63.7%[19]. Revenue Sources - The company achieved sales of RMB 180.43 million from its continuous glucose monitoring system, a remarkable 138.3% increase from RMB 75.71 million in the previous year[5]. - Revenue from medical devices and consumables sales was CNY 340.73 million in 2024, up from CNY 248.61 million in 2023, reflecting a growth of 37.0%[28]. - The continuous glucose monitoring system generated RMB 180.43 million in revenue, accounting for 52% of total revenue, compared to RMB 75.71 million and 30% in the previous year[60]. - The company’s revenue from mainland China was CNY 236.69 million in 2024, compared to CNY 170.89 million in 2023, marking a growth of 38.5%[29]. Research and Development - Research and development expenses for the year were RMB 76.56 million, an increase from RMB 70.10 million, focusing on new product development and clinical trials[10]. - Research and development expenses increased to RMB 76.56 million in 2024, up from RMB 70.10 million in 2023, reflecting a 9.5% increase[18]. - Research and development investment reached RMB 76.56 million, an increase from RMB 70.10 million in 2023, primarily for personnel expenses, new product development, and clinical trials[49]. - The company has made significant advancements in product development, including the approval of the next-generation AiDEX X continuous glucose monitoring system and the PanCares closed-loop artificial pancreas system[9]. Market Expansion - The company has expanded its product reach to 108 countries and regions, with the new LinX continuous glucose monitoring system entering multiple European healthcare systems[14]. - The company has successfully expanded market access and product sales in 108 countries and regions, including Europe, the Middle East, Africa, Asia, and Latin America[80]. - The company is expanding its international marketing efforts, particularly in Europe and emerging markets, to capitalize on higher healthcare spending and insurance coverage[80]. Product Development - The company has a diverse product portfolio in diabetes monitoring, treatment, and management, including 20 registered medical devices in China and 22 products with EU CE marks as of December 31, 2024[37]. - The core product, Equil, a patch insulin pump system, has been used in over 1,100 professional hospitals and maintains a leading position among domestic brands[39]. - The company has developed and commercialized 15 types of blood glucose meters and 7 types of test strips in China, with additional products available in overseas markets[43]. - The company is designing a cloud-based AI-enabled artificial pancreas as part of its closed-loop solution, integrating advanced analytics tools for personalized glucose management[42]. Financial Position - As of December 31, 2024, the company had cash reserves of RMB 1.697 billion, indicating strong liquidity[7]. - Total assets decreased slightly to RMB 2.15 billion in 2024 from RMB 2.16 billion in 2023, a decline of 0.6%[20]. - Cash and cash equivalents decreased to RMB 1.70 billion in 2024 from RMB 1.89 billion in 2023, a reduction of 10.0%[20]. - Total liabilities increased to RMB 171.72 million in 2024, up from RMB 97.70 million in 2023, a significant increase of 75.7%[21]. - The company's total equity decreased to RMB 1.97 billion in 2024 from RMB 2.06 billion in 2023, a decline of 4.2%[22]. Shareholder Actions - The company has repurchased 7,216,800 H shares, accounting for 4.26% of the total H shares, to enhance shareholder value and confidence[17]. - The company has repurchased a total of 456,000 shares of its ordinary H shares since January 1, 2025, which are held as treasury shares[86]. - The board of directors did not recommend a final dividend for the year ending December 31, 2024, consistent with the previous year[92]. Compliance and Governance - The audit committee reviewed the consolidated annual results for the year ending December 31, 2024, and confirmed compliance with accounting standards and regulations[94]. - The annual report for 2024 will include all relevant information as required by listing rules and will be published on the company's website[95]. - The company is committed to maintaining compliance with health, safety, and environmental protection standards as indicated by the CE mark[97]. - The executive directors include Dr. Zheng Pan, Dr. Yu Fei, Dr. Shi Yonghui, and Ms. Liu Xiu, indicating a strong leadership team[101].

Financial Performance - For the first half of 2024, MicroTech Medical reported revenue of RMB 150.82 million, a 36.1% increase from RMB 110.81 million in the same period of 2023[6]. - Gross profit for the first half of 2024 was RMB 83.80 million, up 45.5% from RMB 57.61 million in the first half of 2023, with a gross margin of 55.6%, an increase of 3.6 percentage points year-on-year[6]. - The net loss for the first half of 2024 was RMB 37.74 million, compared to RMB 18.66 million in the same period of 2023, primarily due to increased sales expenses of RMB 34.60 million[6]. - Operating costs increased by 26.0% to RMB 67.02 million for the six months ended June 30, 2024, compared to RMB 53.20 million in the same period of 2023, primarily due to increased sales volume[43]. - Sales expenses rose by 50.2% to RMB 103.52 million for the six months ended June 30, 2024, driven by investments in online sales channels and new product promotions[45]. - The company reported a total comprehensive loss of RMB (37,665,057.57) for the six months ended June 30, 2024, compared to RMB (17,972,841.81) for the same period in 2023[102]. - The company’s total equity attributable to shareholders decreased to RMB 2,012,517,363.46 from RMB 2,061,084,559.70, a decline of about 2.4%[108]. Product Development and Sales - Sales from the new generation continuous glucose monitoring system, AiDEX X, reached RMB 74.72 million, a significant increase of 245.2% compared to RMB 21.64 million in the first half of 2023[6]. - The core product, Equil patch insulin pump system, is now used in over 1,000 hospitals, with an 18.4% increase in hospital access during the reporting period, maintaining a leading position among domestic insulin pump brands[10]. - The company launched the AiDEX X continuous glucose monitoring system in April 2024, receiving positive feedback from users and medical experts, with over 300,000 cumulative users for both AiDEX and AiDEX X products[10]. - The company has developed 15 types of blood glucose meters and 7 types of test strips in China, with 12 types of blood glucose meters and 6 types of test strips commercialized in overseas markets[26]. - The company is focused on developing new products and optimizing existing ones to provide better clinical outcomes and cost-effective diabetes management tools[64]. Research and Development - Research and development expenses increased to RMB 34.6 million in the first half of 2024, up from RMB 32.0 million in the same period of 2023, due to the introduction of R&D talent and increased clinical trial expenditures[8]. - The company is designing a cloud-based AI-enabled artificial pancreas, integrating advanced analytics tools for personalized blood glucose management[25]. - The company plans to continue investing in product research and development, including the international registration of the new generation continuous glucose monitoring system AiDEX X[63]. - The second-generation Equil insulin pump system is under development, featuring higher waterproof ratings and larger insulin reservoir capacity[19]. Market Expansion and Strategy - The company is focused on enhancing the accessibility of medical products and services for diabetes patients, driving high-quality business development[6]. - The company aims to expand its marketing network and accelerate international market expansion, focusing on cloud-based diabetes management platforms to provide clinical benefits and reduce costs[16]. - The company has expanded its international market presence, with core products marketed in over 30 countries and regions, including recent entry into the Brazilian market[38]. - The company has successfully expanded its market access and product sales in over 80 countries, including Europe, the Middle East, Africa, Asia, and Latin America[62]. - Future outlook includes potential mergers and acquisitions to strengthen market position[87]. Corporate Governance - The company is committed to high standards of corporate governance and has adopted the relevant codes of conduct[71]. - The board believes that having the same individual serve as both chairman and CEO ensures consistent leadership and effective strategic planning[68]. - The company has complied with all applicable provisions of the corporate governance code, except for the separation of the roles of chairman and CEO[68]. Cash and Liquidity - As of June 30, 2024, the company had cash reserves of RMB 1.805 billion, indicating a strong liquidity position[8]. - The company's cash and cash equivalents as of June 30, 2024, were RMB 1,805,310,831.60, down from RMB 1,885,880,958.10 as of December 31, 2023[103]. - The company reported a significant increase in accounts payable, which rose to RMB 56,695,103.37 from RMB 33,772,276.03, an increase of approximately 68%[106]. - The company’s retained earnings showed a negative balance of RMB (259,665,189.24) as of June 30, 2024, worsening from RMB (221,930,140.77) at the end of 2023[108]. Shareholder Information - The company holds a total of 421,138,000 issued shares as of June 30, 2024, including 169,235,842 H shares[80]. - Major shareholders include Dr. Zheng Quan, holding 28.27% of domestic shares and 17.79% of H shares[79]. - The company has a significant ownership structure, with Qiming Venture Partners V, L.P. holding 96.99% of QM32 Limited, which owns 11,925,181 H shares and 22,146,766 unlisted foreign shares[97]. Customer Engagement and Support - The company has established a customer operation and maintenance team to enhance after-sales service efficiency and effectiveness[36]. - The company has established a 24/7 customer service hotline to provide consultation and support for its products, enhancing customer satisfaction[60]. - The company launched a public welfare initiative "No Finger Prick, Painless Glucose Monitoring" to raise awareness of diabetes management and provide convenient monitoring solutions[36].

Financial Performance - Revenue for the first half of 2024 reached RMB 150.8 million, an increase of 36.1% compared to RMB 110.8 million in the same period of 2023[2] - Gross profit for the first half of 2024 was RMB 83.8 million, up 45.5% from RMB 57.6 million in the first half of 2023, with a gross margin of 55.6%[3] - Net loss attributable to shareholders for the first half of 2024 was RMB 37.7 million, a 102.2% increase compared to RMB 18.7 million in the same period of 2023[2] - Operating revenue for the six months ended June 30, 2024, was CNY 150,815,673.60, a 36% increase from CNY 110,814,418.81 in the same period of 2023[7] - Net profit for the six months ended June 30, 2024, was CNY (37,735,048.47), compared to CNY (18,661,588.27) in the same period of 2023[7] - Total comprehensive income attributable to owners of the parent for the six months ended June 30, 2024, was CNY (37,665,057.57), compared to CNY (17,972,841.81) in the same period of 2023[9] Sales and Revenue Growth - Sales from the continuous monitoring system amounted to RMB 74.7 million, representing a significant increase of 245.2% from RMB 21.6 million in the first half of 2023[3] - Revenue from the sale of medical devices and consumables reached RMB 148,453,653.35 for the six months ended June 30, 2024, up from RMB 108,548,949.39 in the same period of 2023, representing an increase of approximately 36.7%[19] - Revenue from the domestic market in China was RMB 110,695,273.86, compared to RMB 71,550,081.69 in the previous year, indicating a growth of about 54.7%[20] - Sales of the Continuous Glucose Monitoring System accounted for 49.5% of total revenue, increasing from 19.5% in the previous year, while the Insulin Pump System contributed 26.3%[49] Cost Management and Expenses - The company implemented cost reduction measures, resulting in management expenses decreasing by 12.7% to RMB 19.7 million, with management expenses as a percentage of revenue dropping from 20.4% to 13.1%[3] - The increase in net loss was primarily due to higher sales expenses, which rose by RMB 34.6 million, including costs associated with the launch of AiDEX X and increased e-commerce investments[3] - Research and development expenses increased to RMB 34.6 million, up from RMB 32.0 million for the year ending June 30, 2023, due to the recruitment of key R&D personnel and increased clinical trial expenditures[4] - Operating costs increased by 26.0% to RMB 67.02 million for the six months ended June 30, 2024, compared to RMB 53.2 million in the same period of 2023, primarily due to increased sales volume[50] Product Development and Innovation - The launch of the new generation continuous glucose monitoring system AiDEX X contributed to the revenue growth and increased user acquisition[3] - The company achieved significant advancements in product development, including the approval of the next-generation continuous glucose monitoring system by the National Medical Products Administration, with EU registration obtained[4] - The company is expanding the application scope of its insulin pump system to include children and adolescents with diabetes, having received approvals from the National Medical Products Administration and EU registration[4] - The company is developing a second-generation insulin pump system with enhanced waterproofing and larger insulin reservoir capacity, which will integrate with the closed-loop artificial pancreas system[31] Market Expansion and Strategy - The company is actively expanding its international market presence, with products marketed in over 30 countries and regions, including recent approvals in Brazil[46] - The company plans to expand its marketing network and accelerate international market expansion while enhancing management and operational efficiency[29] - The company is focusing on market expansion and new product development as part of its future strategy[7] - The company aims to increase market share and brand reputation in the diabetes treatment sector, targeting a market of 130 million diabetes patients in China[62] Corporate Governance and Shareholder Engagement - The company aims to strengthen investor confidence and protect shareholder interests through share repurchase initiatives[6] - The board of directors believes that the current arrangement of having the chairman and CEO roles held by the same person ensures consistent leadership and effective strategic planning[68] - The board will continue to review and consider separating the roles of chairman and CEO at an appropriate time[69] - The company has adopted a code of conduct for securities trading by directors and supervisors, confirming compliance during the reporting period[70] Social Responsibility and Community Engagement - The company initiated a public welfare campaign "No Prick Glucose Monitoring" to enhance public awareness of diabetes management and provide more convenient and painless glucose monitoring solutions[4] - The company is committed to fulfilling its social responsibilities and promoting health management[4] - The company has launched a public welfare initiative "No Finger Prick Glucose Monitoring" in collaboration with health organizations to improve public awareness of diabetes management[44] Workforce and Training - The group has a workforce of 750 employees as of June 30, 2024, and provides ongoing training programs to enhance their skills[61] - The company has launched training programs to enhance the professional skills of insulin pump medical personnel, ensuring optimal treatment outcomes[5] Research and Development Focus - The R&D team consists of experts with an average of over 16 years of relevant experience, focusing on interdisciplinary capabilities in biomedical, materials science, and artificial intelligence[41] - The company has established long-term collaborations with key opinion leaders in the industry to guide its R&D process[41] - The company is developing a cloud-based big data diabetes management platform, which is currently in the registration stage[38]

Financial Performance - In 2023, the company's revenue reached RMB 253.228 million, a significant increase of 46% compared to RMB 173.607 million in 2022[18]. - The gross profit for 2023 was RMB 125.734 million, up from RMB 81.936 million in 2022, reflecting a gross margin improvement[18]. - The net loss for 2023 was RMB 125.016 million, compared to a net loss of RMB 35.043 million in 2022, indicating a worsening financial performance[18]. - Total assets decreased to RMB 2,158.782 million in 2023 from RMB 2,294.097 million in 2022, showing a decline of approximately 6%[19]. - The total liabilities increased to RMB 97.697 million in 2023 from RMB 82.065 million in 2022, representing a rise of about 19%[19]. - The company reported a total revenue of HKD 1,000,000 for the fiscal year ending December 31, 2023, with a significant increase in user data and engagement metrics[132]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in 2023, representing a growth of 15% year-over-year[82]. - User data showed an increase in active users, reaching 5 million, which is a 25% increase compared to the previous year[82]. - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to 12%[82]. - New product launches are expected to contribute an additional 200 million in revenue in the upcoming year[82]. Research and Development - In 2023, MicroTech Medical achieved a 14.8% increase in R&D investment compared to the same period in 2022, recognized as a national-level "Little Giant" enterprise[11]. - The company is investing in R&D, allocating 15% of its revenue towards new technology development[82]. - The company aims to strengthen partnerships with distributors in overseas markets and leverage social media to build brand awareness and user reputation[13]. - The company is focused on optimizing R&D and production efficiency, improving sales organization effectiveness, and increasing product gross margins while reducing management expense ratios[13]. - MicroTech Medical is committed to continuous investment in product development, clinical research, marketing expansion, and brand building to become a leader in diabetes treatment and monitoring products[13]. - The company has established a postdoctoral workstation and initiated the construction of an advanced manufacturing base[11]. Product Development and Innovation - The user base for the AIDEX product has exceeded 200,000 globally, with Equil entering over 1,000 professional hospitals and the "Inspection System" being adopted in more than 1,400 hospitals[12]. - The company has made significant progress in product development, with the new generation CGM product AiDEX X approved in mainland China and advancing EU registration[11]. - The product pipeline includes five major categories, with 15 products registered in China and nine products receiving EU CE marking[25]. - The company plans to submit registration materials for its Equil insulin pump system for children and adolescents in 2024, aiming for market entry thereafter[27]. - The second-generation insulin pump system is under development, featuring improved waterproofing and user-friendly operation[28]. - The AIDEX continuous glucose monitoring system is the second commercially available system globally that offers real-time, calibration-free monitoring, enhancing patient compliance and reducing hypoglycemia risks[29]. - As of December 31, 2023, AIDEX has expanded its application to children and adolescents aged 2 to 18, with clinical trials completed and registration applications submitted to regulatory authorities[29]. - The new generation AIDEX X system has received market approval from the National Medical Products Administration and was registered in the EU in 2023, featuring a smaller design and improved performance[29]. - The PanCares closed-loop artificial pancreas system, which automates insulin delivery and glucose monitoring, completed all clinical enrollments as of the report date and is part of the company's cloud-based AI-enabled solutions[33]. - The company has developed and commercialized 15 types of blood glucose meters and 7 types of test strips in China, with 12 blood glucose meters and 6 test strips available in overseas markets[34]. - A blood glucose meter for newborns has completed clinical trials and a registration application has been submitted to the regulatory authority as of December 31, 2023[35]. - The Exactive Pro system, which simultaneously measures blood glucose, ketones, and uric acid, received market approval in 2023, becoming the first integrated product in China to offer these three indicators[36]. - The company has made significant progress in digital blood glucose management, enabling real-time data sharing between monitoring devices and healthcare providers[37]. Market Expansion and Strategy - MicroTech Medical plans to enhance its market share by expanding its core product's pediatric indications and conducting clinical registrations for closed-loop artificial pancreas systems[13]. - In 2023, the company made notable advancements in its e-commerce channels, collaborating with major platforms to reach end users directly[12]. - The company aims to expand its marketing network and enhance brand awareness of innovative products in international markets[25]. - Market expansion plans include entering three new international markets by the end of 2024[82]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million allocated for potential mergers and acquisitions[82]. - A new partnership with a leading healthcare provider is expected to enhance service offerings and expand market reach[82]. Corporate Governance and Compliance - The board held 7 meetings during the reporting period to discuss financial and operational performance, approved annual and interim results, and business outlook[85]. - The audit committee reviewed financial performance and reports for the year ending December 31, 2023, focusing on financial reporting, operational compliance, risk management, and internal control systems[87]. - The remuneration and assessment committee consists of three members, including one executive director and two independent non-executive directors, with attendance records documented[88]. - The board maintains a balanced diversity in its composition, ensuring gender diversity in recruitment and promoting female leadership potential within the company[93]. - The company adheres to various laws and regulations regarding occupational health and safety, implementing a series of safety measures[103]. - The board is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[128]. - The strategic committee includes members who will oversee the implementation of the company's strategies and monitor operational and financial performance[111]. - The company has arranged appropriate liability insurance for directors and senior management to cover potential legal actions arising from company activities[112]. - The nomination committee considers various factors for board diversity and sets measurable targets to enhance diversity within the board[91]. - The audit committee did not make any recommendations regarding the selection, appointment, or dismissal of external auditors during the reporting period[119]. - The board has reviewed corporate governance policies and practices, ensuring compliance with legal and regulatory requirements[138]. - The company has implemented a comprehensive risk management framework to address credit, liquidity, and foreign exchange risks[142]. - The board diversity policy aims to enhance effectiveness by considering various factors such as gender, skills, and experience[148]. - The company is committed to maintaining a balance of skills, experience, and diversity within the board to ensure effective governance[153]. - The nomination committee is responsible for evaluating and recommending candidates for board positions based on their qualifications and potential contributions[154]. Environmental and Social Responsibility - The environmental report indicates that the company generated 5,830 kg of non-hazardous waste, with a per capita waste of 9.59 kg, and successfully recycled 556 kg[150]. - The company has implemented various measures and procedures for environmental protection, occupational health, and safety[181]. - The company maintains a strict anti-corruption policy for sales personnel and distributors, requiring written commitments to avoid improper benefits[182]. - The company regularly monitors and evaluates its diversity policies to ensure ongoing effectiveness[160]. - The company has a website (www.microtechmd.com) for effective communication with shareholders and to provide updates on business operations and financial information[159]. - The company has established effective communication channels with shareholders and investors, ensuring timely updates on the group's latest developments[188]. - The board has adopted a dividend policy, considering factors such as actual and projected financial performance, cash flow, and future business expansion plans when determining dividend amounts[189]. - The report complies with the Hong Kong Stock Exchange's guidelines on environmental, social, and governance reporting, adhering to principles of materiality, quantification, balance, and consistency[191].