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。 Shanghai MicroPort MedBot (Group) Co., Ltd. 上海微創醫療機器人（ 集 團 ）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：2252） 截至2024年12月31日止年度 全年業績公告 董事會欣然公佈本集團截至2024年12月31日止年度經審核綜合業績，連同截至 2023年12月31日止年度之比較經審核數據。有關業績已經審計委員會審閱。 於本公告內，「我們」及「我們的」指本公司及（倘文意另有所指）本集團。本公 告所載若干金額及百分比數據已因約整進行調整，或已約整至一個或兩個小 數位。任何表格、圖表或其他地方中總額與當中所列金額總和之間的任何差異 乃因約整所致。 | 財務摘要 | | | | | --- | --- | --- | --- | | | 截至12月31日止年度 | | | | | 2024年 | 2023年 | 變動 | | | ...

Investment Rating - The report assigns a "Buy" rating to the company with a target price of HKD 21.83, compared to the current price of HKD 15.34 [1]. Core Views - The company is on the verge of turning profitable, with the commercialization of surgical robots showing promising results. The years 2025-2026 are identified as critical turning points for profitability [6][57]. - The domestic market is expected to expand due to relaxed medical device configuration policies, with a significant increase in the planned number of laparoscopic surgical robots [6][43]. - The company has made significant strides in the overseas market, securing over 20 international orders in its first year of commercialization, aided by 5G remote surgery solutions [6][57]. Summary by Sections Financial Performance - Revenue projections indicate a substantial increase from RMB 104.59 million in 2023 to RMB 1,368.07 million by 2026, reflecting growth rates of 384.15%, 173.16%, 108.01%, and 130.20% respectively [2]. - The net profit attributable to the parent company is expected to improve from a loss of RMB 1,012.17 million in 2023 to a profit of RMB 102.05 million in 2026, with growth rates of 11.20%, 42.60%, 46.57%, and 132.88% [2]. - Earnings per share (EPS) are projected to rise from -1.01 in 2023 to 0.10 in 2026 [2]. Market Position and Strategy - The company has established a comprehensive portfolio of surgical robots, including laparoscopic, orthopedic, vascular, and percutaneous robots, with all four major product lines now commercialized [6][40]. - The company leads in domestic bids for laparoscopic surgical robots, with a significant share of the planned configurations in eastern and western regions of China [6][43][45]. - The report highlights the company's competitive edge in the domestic market, with a 52% bid success rate for new laparoscopic surgical systems [6][44]. Growth Drivers - The new medical device configuration policy is expected to facilitate the release of over 300 additional laparoscopic surgical robots in 2025-2026 [6][43]. - The company has successfully penetrated international markets, with rapid growth in overseas orders and the implementation of 5G remote surgery demonstrations across various regions [6][49]. - The report anticipates that the company will benefit from increased domestic demand and international expansion, projecting significant revenue growth across its product lines [6][57]. Valuation - The report uses a price-to-sales (PS) ratio for valuation, estimating a target PS of 15 times for 2026, leading to a target price of HKD 21.83 [6][57].

0.00 2024 INTERIM REPORT 2024 2024 中期報告 INTERIM REPORT 中期報告 Shanghai MicroPort MedBot (Group) Co., Ltd. 上海微创医疗机器人（集团）股份有限公司 the state and the first Shanghai MicroPort MedBot (Group) Co., Ltd. 上海微创医疗机器人（集团）股份有限公司 (a joint stock company incorporated in People's Republic of China with limited liability) 股票代碼：2252 Stock Code: 2252 （於中華人民共和國註冊成立的股份有限公司） 2252 （於中華人民共和國註冊成立的股份有限公司） 目 錄 2 公司資料 4 財務摘要 5 公司概況 6 總裁報告 9 管理層討論及分析 31 企業管治及其他資料 42 獨立核數師報告 43 綜合損益表 44 綜合損益及其他全面收益表 45 綜合財務狀況表 47 綜合權益變動表 49 簡明綜合現金流量表 50 未經審計 ...

[ T able_StockInfo] 2024 年 09 月 04 日 证券研究报告•2024 年中报点评 当前价：6.55 港元 微创机器人-B（2252.HK）医疗保健 目标价：——港元 海外订单达 10 台，国产机器人迎出海里程碑 [Table_Summary 事件：公司发布] 2024中报，实现营业收入 1.0亿元（+106%），毛利 4701万 元，净亏损 2800 万元，亏损明显收窄主要因： 1）营业收入增长；2）业务聚 焦和降本增效带来的费用优化。 强化腔镜和骨科机器人的业务聚焦，国内海外双点开花。（1）腔镜手术机器人 图迈：截至 24H1，公司自研腔镜机器人"图迈"已在国内 20 家医院实现商业 化装机，辅助完成人体临床手术量突破 1300例，位居国产腔镜机器人第一。海 外端，图迈海外在手订单量累计达 10台，已有 2台实现商业化装机，是国产腔 镜手术机器人出海的标志性里程碑。（2）骨科手术机器人：截至 24H1，骨科 手术机器人鸿鹄已累计获得约30台海外销售订单，全球累计 TKA手术量超1300 例，覆盖约 70家医院。 降本增效是主旋律。24H1公司净亏损 2800万元，同比缩窄 48. ...

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。 Shanghai MicroPort MedBot (Group) Co., Ltd. 上海微創醫療機器人（ 集 團 ）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：2252） 截至2024年6月30日止六個月之中期業績公告 董事會欣然公佈本集團截至2024年6月30日止六個月之未經審核綜合中期業績， 連同截至2023年6月30日止六個月之比較數字，已經審計委員會審閱。 於本公告內，「我們」及「我們的」指本公司及（倘文意另有所指）本集團。本公 告所載若干金額及百分比數據已因約整進行調整，或已約整至一個或兩個小 數位。任何表格、圖表或其他地方中總額與當中所列金額總和之間的任何差異 乃因約整所致。 | --- | --- | --- | |---------------------------------------|--------------------------------- ...

Financial Performance - Revenue for 2023 reached RMB 104,592 thousand, a significant increase from RMB 21,603 thousand in 2022[8] - Gross profit for 2023 was RMB 14,694 thousand, up from RMB 6,562 thousand in 2022[8] - The company reported a net loss of RMB 1,023,530 thousand in 2023, compared to a net loss of RMB 1,146,284 thousand in 2022[8] - Total assets decreased to RMB 1,427,907 thousand in 2023 from RMB 1,930,125 thousand in 2022[9] - Non-current assets stood at RMB 633,859 thousand in 2023, down from RMB 831,303 thousand in 2022[9] - Current liabilities increased to RMB 685,276 thousand in 2023 from RMB 325,314 thousand in 2022[9] - The company's free cash flow net outflow decreased by 42% from RMB 1,158 million in 2022 to RMB 670 million in 2023[18] - Revenue for the year ended December 31, 2023, was RMB 104.6 million, a 384.2% increase from RMB 21.6 million in 2022, driven by strong market performance of the core product Toumai and successful overseas promotion of orthopedic robots[61] - Gross profit increased by 123.9% to RMB 14.7 million in 2023 from RMB 6.6 million in 2022, but gross margin decreased to 14% from 30% due to inventory impairment of RMB 29.0 million[62] - Sales and marketing expenses rose by 29.6% to RMB 238.4 million in 2023 from RMB 184.0 million in 2022, primarily due to increased commercialization efforts and marketing team costs[63] - Administrative expenses decreased by 25.9% to RMB 126.4 million in 2023 from RMB 170.5 million in 2022, mainly due to optimization of operational efficiency and reduced staffing costs[64] - R&D costs decreased by 24.7% to RMB 569.2 million in 2023 from RMB 755.8 million in 2022, as the company focused on products nearing commercialization and improved R&D efficiency[65] - Other net loss was RMB 13.3 million in 2023, compared to a net income of RMB 42.1 million in 2022, primarily due to RMB 40.5 million in losses from site lease terminations[67] - Net loss on financial instruments at fair value through profit or loss was RMB 42.5 million in 2023, compared to RMB 27.0 million in 2022, mainly due to a further decline in the fair value of NDR investment[68] - Financing costs increased to RMB 18.6 million in 2023 from RMB 11.4 million in 2022, primarily due to higher bank loan interest[69] - Inventory as of December 31, 2023, was RMB 229.5 million, with an inventory impairment of RMB 29.0 million due to product upgrades and optimization[73] - Capital expenditures for the reporting period were RMB 66.5 million, primarily for property, plant, and equipment[75] - Employee costs decreased to RMB 561.2 million in 2023 from RMB 612.9 million in 2022, primarily due to a reduction in the number of employees[76] - Cash and cash equivalents decreased to RMB 507.7 million as of December 31, 2023, from RMB 748.0 million as of December 31, 2022, driven by increased R&D and marketing activities[77] - Total interest-bearing borrowings increased to RMB 475.1 million as of December 31, 2023, compared to RMB 33.1 million as of December 31, 2022, with the debt-to-asset ratio rising to 65% from 27%[80] - Net current assets decreased to RMB 108.8 million as of December 31, 2023, from RMB 773.5 million as of December 31, 2022, due to ongoing R&D, clinical registration, and commercialization expenses[81] Product Development and Commercialization - Core product TuMai completed 10 commercial installations during the reporting period, achieving strong year-on-year growth[14] - TuMai has secured nearly 20 bids nationwide, breaking the long-term market monopoly of imported brands and leading the domestic market share[14] - The company's Mona Lisa prostate biopsy robot achieved 1 commercial installation after receiving NMPA approval in May 2023[14] - R-ONE vascular intervention robot accumulated several intention orders shortly after its approval in December 2023, showing strong commercialization potential[14] - TuMai secured its first overseas order at the end of 2023, marking a significant milestone for domestic surgical robots in international markets[15] - The company's Honghu robot has accumulated 15 overseas sales orders and completed over 100 robot-assisted surgeries[15] - The company obtained 8 domestic and international registrations/approvals in 2023, including NMPA approvals for TuMai, Honghu, R-ONE, and Mona Lisa[16] - TuMai has completed over 120 5G remote clinical surgeries globally with a 100% success rate[17] - The company's revenue in 2023 reached RMB 104.6 million, a strong increase of 384.2% compared to the previous year's RMB 21.6 million, driven by the commercialization of its main products, including Toumai, Honghu, and Qingtingyan[22] - Toumai, the company's core product, completed 10 commercial installations in 2023, a significant increase from the previous year, and has accumulated nearly 20 bids nationwide, including top-tier hospitals[23] - The company's Mona Lisa prostate biopsy robot achieved 1 commercial installation and successfully performed 1 commercial surgery after receiving NMPA approval in May 2023[23] - The R-ONE vascular intervention robot, approved in December 2023, has quickly accumulated several intent orders, showing strong commercialization potential[23] - The company's products, including Toumai, Honghu, and Qingtingyan, have maintained their leading positions in their respective fields despite intense domestic competition[23] - The company's international cooperation in the field of percutaneous surgery has led to the development of the Mona Lisa prostate biopsy robot, which has shown promising results in the market[23] - The company's focus on technological innovation and commercialization has been a key driver of its revenue growth[22] - The company's products have been recognized for their clinical value, technological innovation, and comprehensive training services, earning the trust of doctors and hospitals[23] - The company's strategic focus on sustainable growth and operational efficiency has helped it navigate the challenges of a complex global economic and geopolitical environment[22] - The company's products have been instrumental in advancing the adoption of robotic-assisted surgery in China, contributing to the overall growth of the surgical robot market[19] - Tuo Mai achieved its first overseas sales order, marking the first overseas sale of a domestically produced laparoscopic surgical robot, and successfully assisted in its first overseas radical prostatectomy[24] - Hong Hu, the company's flagship product, has accumulated 15 overseas sales orders and completed over 100 robot-assisted surgeries, including multiple consecutive surgeries[24] - Tuo Mai has completed over 120 5G remote clinical surgeries globally with a 100% success rate, setting nearly 20 national and global remote surgery records[27] - The company's free cash flow outflow decreased by 42% from RMB 1,158 million in 2022 to RMB 670 million in 2023 due to strategic focus and cost reduction measures[28] - Tuo Mai received NMPA approval in October 2023 for multi-department commercialization, including urology, general surgery, gynecology, and thoracic surgery[26] - Hong Hu received approvals from Brazil ANVISA, Australia TGA, and UK UKCA, becoming the first and only domestic surgical robot approved in major markets including China, the US, EU, Brazil, Australia, and the UK[26] - R-ONE vascular intervention robot received NMPA approval in December 2023, becoming the first commercialized coronary vascular intervention robot in China[27] - iSR'obot Mona Lisa prostate biopsy robot received NMPA approval in May 2023, forming a diagnostic and therapeutic integration platform with Tuo Mai[27] - The company has accelerated the transformation of its five major business segments, with 4/5 segments having innovative products approved for market[26] - The company is the only surgical robot company globally covering five "golden tracks": laparoscopic, orthopedic, pan-vascular, natural orifice, and percutaneous surgery[29] - The company's core product, the Toumai laparoscopic surgical robot, has been approved for use in urology, general surgery, gynecology, and thoracic surgery by the NMPA in October 2023, significantly accelerating its commercialization process[33] - As of the report date, Toumai has secured nearly 20 domestic bids and completed 11 commercial installations, with 10 installations completed within 2023 alone[33] - Toumai has assisted in over 2,000 high-difficulty clinical surgeries across more than 90 hospitals in 31 provinces, including over 1,600 Level 4 surgeries and nearly 300 types of procedures[34] - Toumai has achieved over 120 successful 5G remote clinical surgeries globally, with a 100% success rate, including the longest-distance surgery spanning over 5,000 kilometers[37] - In December 2023, Toumai completed its first overseas commercial installation and successfully assisted in its first international clinical surgery for prostate cancer, marking a significant milestone for domestic laparoscopic surgical robots[36] - The company has established over 30 Toumai clinical application and training centers nationwide, enhancing its market presence and surgeon training capabilities[34] - Toumai's EU CE certification application has been accepted, and its remote endoscopic surgery system has initiated NMPA registration clinical work with clinical enrollment underway[37] - The company has made breakthroughs in 5G remote surgery technology, including the first transatlantic and transpacific remote surgery validations, showcasing its advanced capabilities in remote surgery[37] - Toumai has gained international recognition and influence, particularly after its debut at the 2023 SRS Annual Meeting, where it showcased its clinical and technical expertise[36] - The company has completed nearly 50 "first domestic cases" with Toumai, further solidifying its leading position in the domestic laparoscopic surgical robot market[34] - The Toumai single-arm laparoscopic surgical robot has completed enrollment for registration clinical trials and is being applied in multiple departments such as gynecology, urology, and general surgery in hospitals in Beijing, Shanghai, and Nanchang[39] - The Dragonfly three-dimensional electronic laparoscopic endoscope achieved stable sales performance during the reporting period and maintained its leading position among domestic brands[40] - The Dragonfly endoscope obtained the EU certification from the British Standards Institution (BSI) and expanded its market space in the high-end medical equipment field, laying a solid foundation for overseas commercialization[40] - The Honghu orthopedic surgical robot obtained NMPA approval for both total knee and total hip replacement surgeries, making it the first and only domestic robot with a self-developed robotic arm approved for such applications[41] - The Honghu robot has received FDA 510(k) certification, EU CE certification, Brazil ANVISA, Australia TGA, and UK UKCA certification, making it the first and only domestic surgical robot approved in major markets including China, the US, the EU, Brazil, Australia, and the UK[41] - The Honghu robot has accumulated 15 overseas orders and completed over 100 robot-assisted surgeries overseas[42] - The company has established nearly 20 Honghu clinical application and training centers nationwide and completed nearly 900 robot-assisted clinical validation surgeries in over 50 hospitals across 17 provinces and municipalities in China[42] - The Honghu robot has successfully conducted several 5G remote joint replacement surgeries, including the first 5G remote domestic robot-assisted total knee replacement surgery in Tibet[42] - The company expects the combined application of the Honghu robot and MicroPort's joint prostheses to effectively shorten the learning curve for doctors and maximize the clinical value of both products[42] - Honghu robot demonstrated high surgical precision and efficiency in total knee arthroplasty, with no significant difference compared to international top-tier orthopedic surgical robots[43] - Honghu completed its first human surgery for unicompartmental knee arthroplasty, marking its entry into clinical validation for such applications[44] - The bronchoscopic surgical robot successfully completed the first human clinical trial for robot-assisted bronchoscopic lung nodule biopsy in China[45] - R-ONE vascular intervention robot received NMPA approval in December 2023 and accumulated several domestic orders, with successful 5G-assisted remote PCI surgeries over 2,800 km[46][47] - Mona Lisa prostate biopsy robot achieved NMPA approval, completed one commercial installation, and performed one commercial surgery, filling a market gap in China[48] - The company's 5G remote surgery technology has achieved over 120 successful clinical cases globally, with a maximum transmission distance of 5,000 km and control distance of nearly 13,000 km[49] - The company has established over 30 Toumai clinical application and training centers and nearly 20 Honghu clinical application and training centers nationwide[52] - The company has applied for a total of 1,278 patents globally, with 395 patents granted (263 in China and 132 overseas)[56] - The company has two production bases in China, located in Shanghai and Suzhou, supporting large-scale production of surgical robots and consumables[54] - The company has built a mobile training and demonstration platform for surgical robots, promoting the technology nationwide[53] - The company has established two R&D centers in China (Shanghai and Shenzhen) and overseas R&D centers in Singapore and the U.S.[51] - The company has a team of approximately 650 employees, primarily based in China, Singapore, and the U.S.[55] - The company plans to expand its product portfolio and establish a multi-specialty surgical robot platform[58] - The company aims to accelerate commercialization and increase market penetration by establishing more training centers and improving clinical application experiences[59] - The company has partnered with 301 Hospital to build the world's first 5G remote precision minimally invasive surgery training center[50] - The company's Shanghai Minimally Invasive Surgical Robot Engineering Technology Research Center is the first provincial-level surgical robot engineering center[51] Corporate Governance and Leadership - Dr. He Chao, aged 39, was appointed as an Executive Director on October 18, 2017, and transferred to the role on June 10, 2022. He is responsible for overseeing the company's R&D, daily management, and strategic development[85] - Dr. He Chao has over 16 years of experience in surgical robotics R&D and holds multiple leadership roles within the company, including Executive Director of Suzhou MicroPort Changxing Robotics Co., Ltd. since July 2019[85] - Mr. Sun Hongbin, aged 49, was appointed as a Non-Executive Director on April 3, 2020, and transferred to the role on June 10, 2021. He serves as the Chairman of the Board and oversees the company's management and operations[86] - Mr. Sun Hongbin has over 20 years of experience in the medical device industry and currently serves as the CFO of MicroPort Medical Group and holds various executive roles within the group[86] - Mr. Chen Xinxing, aged 38, was appointed as a Non-Executive Director on December 29, 2023, and is responsible for overseeing the company's management and operations[87] - Mr. Chen Xinxing has extensive experience in investment banking and private equity, currently serving as Managing Director at Hillhouse Investment and Non-Executive Director at Ningbo Jenscare Biotechnology Co., Ltd[87] - Mr. Chen Chen, aged 40, was appointed as a Non-Executive Director on September 17, 2020, and transferred to the role on June 10, 2021. He oversees the company's management and operations[88] - Mr. Chen Chen has 12 years of experience in business consulting and investment management, currently serving as Executive General Manager at Beijing Panmao Investment Management Co., Ltd[88] - Dr. Li Minghua, aged 72, was appointed as an Independent Non-Executive Director on December 30, 2020, and transferred to the role on June 10, 2021. He chairs the Remuneration and Assessment Committee and is a member of the Audit and Strategic Development Committees[89] - Dr. Li Minghua has a distinguished career in radiology and medical imaging, having served as Director of the Radiology Department at Shanghai Sixth People's Hospital and Professor at Shanghai Jiao Tong University[89] - Yao Haisong, aged 50, was appointed as an independent director on December 30, 2020, and re-designated as an independent non-executive director on June 10, 2021[90] - Mei Yongkang, aged 52, was appointed as an independent non-executive director on June 21, 2022, and has over 25 years of experience in managing various financing and accounting activities[90] - Zhang Jie, aged 45, was appointed as a shareholder representative supervisor on December 30, 2020, and currently serves as the chairman of the supervisory board[92] - Zhang Lihong, aged 47, was appointed as a shareholder representative supervisor on December 30, 2020, and has extensive experience in intellectual property management[92] - Chen Gong, aged 32, was appointed as an employee representative supervisor on December 29, 2023, and has been responsible for the R&D management of surgical robots since January 2020[94] - Yao Haisong holds a Bachelor's degree in Clinical Medicine from Shanghai Second Medical University and a Master's degree in International Business Law from the National University of Singapore[90] - Mei Yongkang holds a Bachelor's degree in Business Administration from the Chinese University of Hong Kong and completed the CFO program at CEIBS[90] - Zhang Jie holds a Bachelor's degree in Communication Principles from Zhejiang University of Technology and a Master's degree in Testing and Measurement Technology from Shanghai University of Technology[92] - Zhang Lihong holds a Bachelor's degree in Detection Technology and Instruments from Xi'an University of Technology and a Master's degree in Measurement and Control Technology from Xi'an University of Technology[94] - Chen Gong holds a Bachelor's degree in Mechanical Design and Manufacturing from Henan University of Engineering and a Master's degree in Mechanical Engineering from Jiangsu University[94] - The company's board of directors and supervisors were re-elected and appointed on December 29, 2023, with Dr. He Chao re-elected as an executive director and Mr. Sun Hongbin re-elected as the chairman of the board[115] - The company's senior management compensation for the year ended December 31, 2023, includes one individual earning between RMB 1,000,001 and RMB 1,500,000, two individuals earning

Investment Rating - The report does not specify a clear investment rating for the company [1] Core Insights - The company reported a significant increase in revenue for 2023, achieving 1.0 billion RMB (+384.2%), although it incurred a net loss of 1.02 billion RMB [2] - The growth in revenue is attributed to strong market performance of its core product, the TUMAI laparoscopic surgical robot, and successful promotion of the orthopedic robot, Honghu, in overseas markets [2] - The gross margin decreased to 14% (-16.4 percentage points) primarily due to inventory impairment [2] - The company is focusing on core R&D projects, leading to a reduction in R&D expenses and successful cost-cutting measures [2] Revenue and Profit Forecast - Revenue projections for 2024 to 2026 are estimated at 2.8 billion RMB, 12.4 billion RMB, and 17.3 billion RMB respectively, with net profits expected to be -590 million RMB, -195 million RMB, and 90 million RMB [4][9] - The company is currently in its early stages but is expected to ramp up production soon [4][9] Product Development and Market Position - The TUMAI laparoscopic surgical robot has made significant commercial progress, being the first and only four-arm laparoscopic surgical robot developed by a Chinese company to receive NMPA approval [2] - The Honghu orthopedic surgical robot has also achieved multiple certifications, including FDA and CE, and has completed over 800 robotic-assisted surgeries across more than 40 hospitals in China [3] - The company has expanded its product lineup with the approval of several new robotic systems, including the Mona Lisa prostate puncture robot and the R-ONE vascular intervention robot [3] Financial Metrics - The company’s gross margin is projected to improve significantly from 12.5% in 2023 to 40%, 45%, and 50% in the following years [9] - The net profit margin is expected to turn positive by 2026, with a projected net profit of 90 million RMB [4][9] - The company’s earnings per share (EPS) is forecasted to improve from -1.06 RMB in 2023 to 0.09 RMB in 2026 [4][9]

Investment Rating - The report assigns a "Buy" rating to the company with a target price of HKD 15.1 [1][8]. Core Insights - The company reported a revenue increase of 384% year-on-year to RMB 105 million in 2023, with a reduction in net loss by 11% to RMB 1.01 billion [1]. - The report anticipates an acceleration in the issuance of configuration certificates, which may mitigate the cautious procurement behavior of hospitals due to anti-corruption measures [1]. - The company plans to control its free cash flow outflow to within RMB 450 million in 2024, indicating a focus on financial management [1]. Financial Performance Summary - 2023 revenue reached RMB 105 million, aligning with market expectations, with a gross margin of 14.0%, down 16.3 percentage points year-on-year [1][4]. - The net loss for 2023 was RMB 1.01 billion, a decrease from RMB 1.14 billion in 2022, with expectations for 2024 revenue to exceed RMB 200 million and net loss to narrow to below RMB 700 million [1][4]. - The company had cash reserves of RMB 510 million at the end of 2023, down from RMB 750 million at the end of 2022, highlighting the need for new financing solutions [1][4]. Product Pipeline and Regulatory Approvals - The company has several products in various stages of development, including the Toumai and Skywalker surgical robots, with expected CE certification for some products in 2024 [5][7]. - The report outlines the anticipated approval timelines for new products, with several expected to be approved by 2026 or later [5][7].

Financial Performance - The company reported a revenue of RMB 104.6 million for the year ended December 31, 2023, representing a year-on-year increase of 384.2%[3] - Gross profit for the same period was RMB 14.7 million, compared to RMB 6.6 million in the previous year[2] - The net loss for the year was RMB 1,023.5 million, an improvement from a net loss of RMB 1,146.3 million in 2022, primarily due to increased operating income and reduced R&D expenses[3] - Free cash flow net outflow decreased by 42% to RMB 670 million from RMB 1,158 million in the previous year[3] - The company’s basic and diluted loss per share improved to RMB (1.06) from RMB (1.19) in the previous year[2] - The company reported a pre-tax loss of RMB 1,023,530,000 for 2023, compared to a pre-tax loss of RMB 1,146,284,000 in 2022, indicating a reduction in losses[24] - The adjusted net loss for the year was RMB 869.1 million in 2023, down from RMB 982.4 million in 2022, indicating an improvement of approximately 11.5%[85] Revenue Sources - The total revenue from customer contracts for medical device sales in 2023 was RMB 104,592,000, a significant increase from RMB 21,603,000 in 2022[14] - Revenue from external customers in China for 2023 was RMB 83,385,000, compared to RMB 21,603,000 in 2022[19] - The company recorded a significant increase in revenue driven by the strong market performance of its core product and successful promotion of orthopedic surgical robots in overseas markets[3] Expenses and Costs - The company experienced an increase in sales and marketing expenses due to aggressive business activities for multiple product promotions[3] - Sales and marketing expenses rose by 29.6% from RMB 184.0 million for the year ended December 31, 2022, to RMB 238.4 million for the year ended December 31, 2023, attributed to increased labor costs and promotional investments for core flagship products[77] - Administrative expenses decreased by 25.9% from RMB 170.5 million for the year ended December 31, 2022, to RMB 126.4 million for the year ended December 31, 2023, due to operational efficiency improvements and a streamlined management team[78] - R&D costs decreased by 24.7% from RMB 755.8 million for the year ended December 31, 2022, to RMB 569.2 million for the year ended December 31, 2023, as the company focused on products closer to commercialization and improved R&D efficiency[79] Assets and Liabilities - Total assets decreased to RMB 794.0 million from RMB 1,098.8 million year-on-year[7] - The company's equity attributable to shareholders decreased to RMB 519.5 million from RMB 1,417.7 million in the previous year[8] - The group has short-term interest-bearing borrowings amounting to RMB 375,357,000 as of December 31, 2023[11] - Interest-bearing borrowings increased to RMB 475,057,000 in 2023 from RMB 33,100,000 in 2022, indicating a significant rise in debt levels[29] - The company's cash and cash equivalents decreased from RMB 748 million in 2022 to RMB 507.7 million in 2023, a decline of about 32.2%[90] Product Development and Approvals - The core product, TUMAI, received NMPA approval for multi-department applications in October 2023, marking a significant milestone since its initial approval in January 2022[37] - The Mona Lisa prostate puncture robot received NMPA approval in May 2023, achieving one sale and successfully conducting a commercial surgery during the reporting period[38] - The R-ONE vascular intervention robot quickly accumulated several intended orders after receiving approval in December 2023, indicating strong commercialization potential[38] - The Honghu surgical robot obtained NMPA approval for hip and knee joint replacement surgeries in September 2023, becoming the first domestic surgical robot approved in major markets including China, the US, and the EU[41] Market Expansion and Strategy - The company aims to expand its overseas market presence, particularly in countries along the "Belt and Road" initiative, leveraging its competitive technology and pricing[35] - The company is positioned to benefit from the dual drivers of policy incentives and market demand for high-end medical equipment in China[34] - The implementation of the "14th Five-Year Plan" is expected to significantly boost the demand for high-end medical equipment, including laparoscopic surgical robots[34] Clinical Applications and Innovations - The company completed over 120 5G remote clinical surgeries globally with a success rate of 100%, showcasing its leadership in remote surgical applications[42] - The company has established nearly 20 clinical application and training centers for "Honghu" across China, completing around 900 robot-assisted clinical verification surgeries in over 50 hospitals[56] - The company has successfully registered multiple innovative products across four out of five key surgical fields, accelerating the transformation of its research and development efforts[44] Future Outlook and Plans - The company plans to enhance manufacturing capabilities and supply chain management with an allocation of HKD 84.13 million, with all funds expected to be utilized by the end of 2025[97] - The company aims to accelerate commercialization and increase market penetration by establishing more surgical robot training centers and enhancing communication with doctors and patients[73] - The company is advancing its globalization strategy by building an innovative platform for medical robot solutions and collaborating with top hospitals and research institutions worldwide[74]

智通财经APP获悉，微创机器人-B(02252)跌超3%，截至发稿，跌3.09%，报13.8港元，成交额584.78万 港元。 消息面上，微创机器人公布，预计2023年度净亏损不超过10.5亿人民币，相较上年度取得11.46亿人民 币。亏损减少主要因营业收入增长带来毛利增加；及焦核心研发项目，提升研发效率带来研发费用下 降。 此外，公司预计2023年度收入同比增长超过350%，该增长主要归因于集团产品图迈四臂腔镜手术机器 人、鸿鹄关节置换手术机器人、蜻蜓眼三维电子腹腔内窥镜全面推进商业化进程带来销售收入的持续增 长。 ...