心泰医疗：H股短暂停牌 金十数据4月22日讯，心泰医疗(02291.HK)公告，公司H股股份已于2025年4月22日上午十时五十七分起 短暂停牌。 ...

港股心泰医疗盘中涨超70%，成交额超1亿港元。 ...

港股医疗设备及用品股心泰医疗(02291.HK)早盘持续异动，三次因触发市调机制而进入冷静期，涨幅一 度扩大至100%，现有所收窄至76%，报28.25港元。 ...

Financial Performance - The company reported a consolidated revenue of HK$1.2 billion for the fiscal year 2024, representing a year-on-year increase of 15%[1]. - Lepu Medical Technology reported a revenue increase of 15% year-over-year for the last fiscal year, reaching RMB 1.2 billion[10]. - For the year ended December 31, 2024, the Company achieved revenue of RMB471.6 million, representing a year-on-year increase of 44.4% from 2023[57]. - Revenue from CHD occluder products grew by 6.8% from RMB230.2 million in 2023 to RMB245.9 million in 2024, representing 70.4% and 52.2% of total revenue, respectively[106]. - Revenue from pathway products increased by 22.1% from RMB66.5 million in 2023 to RMB81.3 million in 2024, accounting for 20.4% and 17.2% of total revenue, respectively[107]. - Revenue from PFO and LAA occluder products surged by 396.6% from RMB29.0 million in 2023 to RMB143.9 million in 2024, representing 8.9% and 30.5% of total revenue, respectively[110]. - Net profit attributable to shareholders of the parent company increased by 62.2% from RMB151.4 million for the year ended December 31, 2023, to RMB245.6 million for the year ended December 31, 2024[26]. - The company achieved a net profit margin of 20%, reflecting strong operational efficiency and cost management[10]. User Growth and Market Expansion - User data showed a growth in active users by 25%, reaching a total of 500,000 users by the end of the fiscal year[1]. - User data indicated a 25% growth in the number of active users of Lepu's medical devices, totaling 500,000 users[10]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[1]. - Lepu Medical plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[10]. Research and Development - Investment in R&D increased by 30%, focusing on innovative medical technologies and product enhancements[1]. - The company is investing RMB 200 million in R&D for new medical technologies, including advancements in transcatheter valve replacement systems[10]. - The company launched seven new products in the past year, enhancing its product pipeline in the structural heart disease sector[35]. - The company is actively working on new product development, including biodegradable LAA delivery systems, which are in the preparation stage for registration materials[53]. Product Development and Innovation - The company introduced two new products in the cardiovascular segment, which are anticipated to contribute an additional HK$200 million in revenue next year[1]. - Lepu Medical's new product line, including the TMVR system, is expected to launch in Q3 2024, aiming to capture a significant share of the minimally invasive surgery market[10]. - The company has successfully commercialized multiple occluder products, including MemoPart® ASD occluder (double-rivet), MemoPart® VSD occluder (double-rivet), and MemoPart® PDA occluder (double-rivet)[47]. - The company is preparing for the initiation of overseas clinical trials for MemoSorb® fully-degradable occluder systems[47]. Sustainability Initiatives - Future guidance includes a commitment to sustainability initiatives, with a target of reducing carbon emissions by 25% over the next five years[1]. - Lepu Medical is committed to sustainability initiatives, aiming to reduce its carbon footprint by 15% over the next three years[10]. Financial Management and Cost Control - The gross profit margin improved to 60%, up from 55% in the previous year, due to cost optimization measures[1]. - The company aims to reduce operational costs by 15% through efficiency improvements and automation[1]. - Operating costs rose by 26.9% from RMB37.5 million in 2023 to RMB47.6 million in 2024[115]. - Labor costs rose by 39.7% from RMB10.9 million in 2023 to RMB15.2 million in 2024, driven by increased output and sales volume[120]. Leadership and Management - Ms. Chen has been serving as the Executive Director and General Manager since January 29, 2021, and has been with the Group since December 2011[182]. - Ms. Zhang has been a Director since January 29, 2021, and was appointed as Deputy General Manager and Chief Technology Officer on May 28, 2021[184]. - The Group's management team has a diverse background in both engineering and business, enhancing its strategic decision-making[190]. - The leadership team has a strong track record in both domestic and international markets, positioning the company for future growth[190].

Financial Performance - Revenue increased by 44.4% from RMB 326.6 million for the year ended December 31, 2023, to RMB 471.6 million for the year ended December 31, 2024[3]. - Gross profit rose by 46.7% from RMB 289.1 million for the year ended December 31, 2023, to RMB 424.0 million for the year ended December 31, 2024[3]. - Net profit attributable to shareholders increased by 62.2% from RMB 151.4 million for the year ended December 31, 2023, to RMB 245.6 million for the year ended December 31, 2024[3]. - The net cash flow from operating activities was RMB 222.5 million, up 35.5% from the previous year[8]. - The total assets of the group amounted to RMB 2,083.0 million, reflecting a 4.8% increase from the beginning of the year[8]. - The net assets of the group were RMB 1,997.0 million, which is a 3.7% increase from the beginning of the year[8]. - Operating profit for 2024 was RMB 286,135,584.69, up 65.9% from RMB 172,327,097.00 in 2023[69]. - The total comprehensive income attributable to the parent company for the year ended December 31, 2024, was RMB 245,559,893.33, compared to RMB 151,378,805.98 for the previous year, representing an increase of approximately 62%[72]. - Basic and diluted earnings per share for the year were both RMB 0.71, up from RMB 0.44 in the previous year, indicating a growth of approximately 61.36%[72]. Research and Development - Research and development expenses decreased by 6.6% from RMB 62.1 million for the year ended December 31, 2023, to RMB 58.0 million for the year ended December 31, 2024[3]. - The company has a total of 29 commercialized products and 28 products in various stages of research and development[5]. - The company is focusing on biodegradable medical devices and exploring advanced fields such as cardiac mechanical circulatory support[5]. - The company is engaged in the research and development of biological valves for heart disease treatment, indicating ongoing innovation in its product offerings[73]. - The company is focusing on the development of vascular closure devices, with significant market potential in China as no products have been approved yet[22]. Product Development and Market Strategy - The company aims to provide safe, efficient, innovative, and comprehensive medical solutions in the cardiac intervention device industry[5]. - The company has 4 products under registration review and preparation, with several others in clinical trials[6]. - The biodegradable oval foramen occluder has generated sales revenue close to one-third of the total revenue, highlighting its market success[11]. - Two innovative products targeting aortic dissection and abdominal aortic aneurysm are entering clinical trials, representing significant advancements in the company's product offerings[12]. - The company is developing a transcatheter aortic valve system for patients with isolated aortic regurgitation, with clinical trials planned to start by the end of 2025 after successful animal testing[13]. - The company has entered the mechanical circulatory support (MCS) device market, with various products in preclinical and clinical testing stages, aiming to provide optimal medical solutions for patients[15]. - The company aims to continue developing innovative medical solutions for structural heart disease, focusing on core technologies and product development[18]. - The company is positioned to leverage its first-mover advantage and superior product characteristics to capture significant market potential in the high-growth, low-penetration domestic market[19]. Financial Management and Expenses - Operating costs rose by 26.9% from RMB 37.5 million for the year ending December 31, 2023, to RMB 47.6 million for the year ending December 31, 2024[31]. - Sales expenses surged by 56.8% from RMB 45.4 million for the year ending December 31, 2023, to RMB 71.1 million for the year ending December 31, 2024[38]. - Management expenses decreased by 15.4% from RMB 42.1 million for the year ending December 31, 2023, to RMB 35.6 million for the year ending December 31, 2024[39]. - Financial expenses improved from RMB -8.7 million for the year ending December 31, 2023, to RMB -23.9 million for the year ending December 31, 2024, reflecting an increase in interest income[41]. - Income tax expense increased by 87.1% from RMB 21.7 million for the year ended December 31, 2023, to RMB 40.5 million for the year ending December 31, 2024, primarily due to increased taxable income from business performance growth[43]. Market Presence and Future Outlook - The company plans to enhance its marketing team and expand its sales network in China to improve brand recognition and service capabilities[23]. - The company aims to increase the market penetration of existing products and establish a good reputation for Chinese brands in the global market[24]. - The global market for mechanical circulatory support (MCS) is expected to grow at a compound annual growth rate of over 10%, reaching approximately USD 3.4 billion by 2025[21]. - The company plans to fully utilize the net proceeds from the global offering by December 31, 2027, subject to business needs and market conditions[115]. Corporate Governance and Compliance - The company has adopted the Corporate Governance Code as its own governance code and has complied with its provisions during the reporting period, with some deviations noted[117]. - The company confirmed compliance with the Standard Code for securities trading by directors and supervisors during the reporting period[118]. - The Audit Committee, consisting of two independent non-executive directors and one non-executive director, reviewed the consolidated financial statements for the year ending December 31, 2024[120].

合作伙伴征集：2025全球手术机器人大会 报名：首届全球眼科大会 | 暂定议程 报名：首届全球心血管大会 | 奖项报名倒计时 报名：首届全球骨科大会 | 奖项报名倒计时 2025年3月15日上午，2025中国医学装备大会在重庆悦来国际会议中心成功召开。相关政府部门领导、知名院士、医疗机构专家，研发生产企业、高校、科 研院所、投融资机构负责人等嘉宾出席大会。 中国医学装备协会理事长 侯岩介绍， 2024年中国医学装备市场规模达到 1.35万亿 元，同比增长 6％ 左右 。据了解，目前我国已形成22个大类1100多个 品类的产品体系，是世界上产品类别和品种最齐全的国家之一，产品广泛服务于临床应用，覆盖卫生健康各个领域。 目前大会已圆满落幕。本届展会中，哪些企业凭借创新亮相引起了行业关注？又有哪些前沿产品和技术成为焦点？思宇将全面回顾展会精彩亮点，供各位读 者参考。 # 美敦力 美敦力在本届大会上展出 近80款 全球创新产品， 包括 全球首发的PulseSelect一次性心脏脉冲场消融导管 ，以及多款前沿技术产品， 其中不乏首次展出及近 期获批的产品和技术。 其中包括中国首款获批的 PulseSelect一次性心脏 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a 25% year-over-year growth[1]. - The company provided a positive outlook for the next quarter, projecting a revenue increase of 15% to 1.38 billion RMB[1]. - The company reported a significant increase in revenue, achieving a total of RMB 1.2 billion for the reporting period, representing a 25% year-over-year growth[11]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 30% and aiming to reach RMB 1.56 billion[13]. - For the six months ended June 30, 2024, the company achieved revenue of RMB 249.1 million, representing a period-on-period increase of 49.7% from the same period in 2023[62]. - Net profit attributable to shareholders for the same period was RMB 140.2 million, reflecting an increase of 85.6% compared to the previous year[62]. - The interim results for the six months ended June 30, 2024, reflect significant growth in both revenue and net profit, indicating strong market performance[20]. - The total profit for the six months ended June 30, 2024, was RMB 164,137,210.86, compared to RMB 87,108,001.98 in the same period of 2023, representing an increase of approximately 88.5%[198]. User Growth and Market Expansion - User data indicates a growth in active users, reaching 500,000, which is a 40% increase compared to the previous period[1]. - Market expansion efforts include entering two new international markets, which are projected to generate 300 million RMB in additional revenue[1]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of the fiscal year[15]. Product Development and Innovation - New product launches are expected to contribute an additional 200 million RMB in revenue over the next six months[1]. - Ongoing research and development efforts have led to the advancement of two new medical technologies, expected to be commercialized by Q3 2024[11]. - The company is focusing on the development of biodegradable medical devices, successfully implementing degradability based on traditional metal medical devices[24]. - The MemoSorb® biodegradable ASD occluder has obtained NMPA registration, indicating progress in the commercialization of biodegradable products[50]. - The company is actively pursuing clinical trials for its biodegradable left atrial appendage occluder, indicating a commitment to innovative solutions[52]. - The company has a robust pipeline with products at various stages, including 4 under registration review and several in clinical trials, showcasing its growth potential[24]. Financial Management and Cost Control - The management highlighted a focus on improving operational efficiency, aiming for a 5% reduction in costs by the end of the fiscal year[1]. - The gross margin improved to 60%, up from 55% in the previous year, indicating better cost management[13]. - The company continues to focus on cost management, as evidenced by the reduction in R&D expenses while achieving higher revenue and profit margins[20]. - Research and development expenses decreased by 21.3% from RMB 27.6 million for the six months ended June 30, 2023, to RMB 21.7 million for the six months ended June 30, 2024[20]. Strategic Acquisitions and Investments - The company is considering strategic acquisitions to enhance its product portfolio and market presence[1]. - The company plans to pursue strategic acquisitions to enhance its product portfolio, with a budget of up to USD 50 million allocated for this purpose[12]. - The company plans to fully utilize the net proceeds by December 31, 2027, subject to changes based on evolving business needs[169]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code throughout the reporting period, except for the separation of the roles of chairman and CEO[171]. - The board structure includes one executive director, three non-executive directors, and three independent non-executive directors, ensuring a balance of power[171]. - The audit committee has reviewed the unaudited interim financial information for the six months ended June 30, 2024, ensuring compliance with accounting standards[181]. Cash Flow and Liquidity - The company believes its liquidity requirements will be satisfied through cash flows generated from operating activities and funds raised from capital markets[125]. - As of June 30, 2024, total assets were RMB 2,149.5 million, up 8.2% from the beginning of the reporting period[62]. - Total cash and cash equivalents decreased by 10.5% from RMB 1,212.0 million as of December 31, 2023, to RMB 1,084.2 million as of June 30, 2024, primarily due to cash used in investing activities[126]. Employee and Operational Metrics - The company had 239 full-time employees as of June 30, 2024, up from 219 as of December 31, 2023[136]. - The total staff costs for the six months ended June 30, 2024, amounted to approximately RMB 52.1 million, including capitalized staff costs of approximately RMB 9.1 million[136].

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company demonstrated strong financial performance in H1 2024, with significant growth in revenue, gross profit, and net profit Key Financial Indicators for H1 2024 | Metric | H1 2024 (RMB million) | H1 2023 (RMB million) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 249.1 | 166.4 | +49.7% | | Gross Profit | 226.7 | 147.7 | +53.4% | | R&D Expenses | 21.7 | 27.6 | -21.3% | | Net Profit Attributable to Parent | 140.2 | 75.6 | +85.6% | [Management Discussion and Analysis](index=3&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the company's strong H1 2024 business performance, highlighting product portfolio advancements and future strategic initiatives - The company specializes in R&D, manufacturing, and commercialization of interventional medical devices for structural heart disease, advancing from traditional metal devices to biodegradable solutions and exploring cutting-edge areas like transseptal puncture and mechanical circulatory support[3](index=3&type=chunk) Overall Performance for H1 2024 | Metric | Amount (RMB million) | YoY Growth | | :--- | :--- | :--- | | Revenue | 249.1 | +49.7% | | Net Profit Attributable to Parent | 140.2 | +85.6% | | Net Cash Flow from Operating Activities | 103.5 | +67.8% | [Business Review](index=3&type=section&id=Business%20Review) As a leading supplier of interventional medical devices for structural heart disease, the company achieved strong performance in H1 2024, driven by 22 marketed products and a robust pipeline in biodegradable technology, heart valves, and mechanical circulatory support [Product Portfolio Overview](index=3&type=section&id=Product%20Portfolio%20Overview) As of the reporting period, the company boasts a comprehensive product pipeline, including 22 marketed occluder and accessory products, 4 NMPA-approved products, 4 under review, and 25 in-development products spanning occluders, heart valves, surgical accessories, and mechanical circulatory support - The company's product portfolio spans from commercialized to preclinical stages, with key projects including the MemoSorb® biodegradable occluder series, ScienCrown® transcatheter aortic valve system, and various mechanical circulatory support products[3](index=3&type=chunk)[4](index=4&type=chunk)[5](index=5&type=chunk) [Review of Business Segments](index=7&type=section&id=Review%20of%20Business%20Segments) Significant progress was made across all business segments, with congenital heart disease occluders remaining stable and stroke prevention products, particularly biodegradable PFO occluders, emerging as a core growth driver, while heart valve, mechanical circulatory support, and access product pipelines advanced as planned - In the congenital heart disease sector, the fourth-generation MemoSorb® fully biodegradable occluder system is a flagship product, and the MemoSorb® biodegradable atrial septal defect occluder received NMPA registration in August 2024[9](index=9&type=chunk) - In the field of cardiogenic stroke prevention, the second-generation MemoSorb® biodegradable PFO occluder achieved excellent sales performance post-launch, contributing nearly **one-third of the company's total revenue** during the reporting period, becoming a blockbuster product[10](index=10&type=chunk) - In the heart valve sector, the ScienCrown® transcatheter aortic valve implantation system is expected to be approved for market launch in Q4 2024, potentially altering the company's competitive landscape in the domestic market[11](index=11&type=chunk) - In the access product category, the RF-Lance® radiofrequency puncture device and disposable radiofrequency transseptal puncture needle were approved for market launch in April and July 2024, positioning the company as one of the most comprehensive suppliers in the domestic structural heart disease field[13](index=13&type=chunk) [Outlook](index=10&type=section&id=Outlook) The company will continue to focus on technological innovation in structural heart disease, particularly deepening the application and commercialization of biodegradable technologies, with future strategies including accelerating high-potential product development, strengthening marketing networks, and consolidating first-mover advantages for sustainable growth - The company will continue to advance the application of biodegradable technology, viewing it as a crucial future direction for medical devices that will help penetrate existing markets and expand into new ones[15](index=15&type=chunk) - In cardiogenic stroke prevention, the company will focus on promoting its marketed biodegradable PFO occluder to further expand market penetration in the coming years[15](index=15&type=chunk) - The company plans to expand into the blue ocean markets of mechanical circulatory support (MCS) and protective PCI, accelerating the R&D and market entry of access products such as vascular closure devices and radiofrequency puncture systems[17](index=17&type=chunk) - For international business, the company plans to expand sales channels with a global perspective and timely advance the commercialization of innovative products like biodegradable occluders and heart valves overseas[18](index=18&type=chunk) [Financial Review](index=12&type=section&id=Financial%20Review) This section provides a detailed analysis of the company's financial performance, including revenue, cost of sales, expenses, net profit, liquidity, and key financial ratios [Operating Revenue](index=12&type=section&id=Operating%20Revenue) Total revenue for H1 2024 increased by **49.7%** to **RMB 249.1 million**, primarily driven by a **1,070.1% surge** in "PFO and LAA Occluder Products" revenue, which now accounts for **32.0%** of total revenue due to the successful commercialization of the new biodegradable PFO occluder Revenue Breakdown by Product Category (For the Six Months Ended June 30) | Product Category | 2024 Revenue (RMB million) | Revenue Share | 2023 Revenue (RMB million) | Revenue Share | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Congenital Heart Disease Occluders | 128.6 | 51.6% | 125.2 | 75.3% | +2.7% | | Access Products | 40.3 | 16.2% | 33.8 | 20.3% | +19.4% | | PFO and LAA Occluders | 79.8 | 32.0% | 6.8 | 4.1% | +1,070.1% | | Other Products | 0.4 | 0.2% | 0.6 | 0.3% | -26.5% | | **Total** | **249.1** | **100.0%** | **166.4** | **100.0%** | **+49.7%** | - The significant increase in revenue from PFO and LAA occluder products is primarily attributed to the successful market penetration of the new biodegradable PFO occluder, which generated **RMB 79.3 million** in sales during the period[23](index=23&type=chunk) [Cost of Sales and Gross Profit](index=13&type=section&id=Cost%20of%20Sales%20and%20Gross%20Profit) Cost of sales increased by **20.5%** year-over-year to **RMB 22.4 million**, significantly slower than revenue growth, leading to a **53.4% increase** in gross profit to **RMB 226.7 million** and an improved gross margin from **88.8% to 91.0%** Cost of Sales Components (For the Six Months Ended June 30) | Cost Item | 2024 Amount (RMB million) | Share | 2023 Amount (RMB million) | Share | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Raw Materials and Consumables | 10.1 | 45.2% | 8.6 | 46.3% | +17.5% | | Labor Costs | 5.8 | 26.0% | 4.4 | 23.8% | +31.8% | | Amortization of Intangible Assets | 4.2 | 18.8% | 3.3 | 17.6% | +28.9% | | **Total** | **22.4** | **100.0%** | **18.6** | **100.0%** | **+20.5%** | - Gross profit increased by **53.4%** from **RMB 147.7 million** in the prior period to **RMB 226.7 million**, aligning with overall revenue growth[28](index=28&type=chunk) [Expense Analysis](index=15&type=section&id=Expense%20Analysis) During the reporting period, the company's expense structure significantly changed, with sales expenses increasing by **58.3%** due to team expansion and new product promotion, while administrative expenses decreased by **11.0%** and R&D expenses by **21.3%**, reflecting reduced listing-related and auditor fees and past R&D expenditure peaks - Selling expenses increased by **58.3%** to **RMB 31.5 million**, primarily due to an expanded marketing team and increased market promotion costs from new product commercialization[30](index=30&type=chunk) - Administrative expenses decreased by **11.0%** to **RMB 18.4 million**, mainly due to the expiration of certain listing-related intermediary contracts, adoption of electronic communication, and a change in auditors[31](index=31&type=chunk) - R&D expenses decreased by **21.3%** to **RMB 21.7 million**, primarily because a higher number of R&D projects were in the type testing or animal study phases during the corresponding period in 2023, incurring higher related expenditures[32](index=32&type=chunk) [Net Profit](index=16&type=section&id=Net%20Profit) Driven by strong revenue growth, improved gross margin, and effective control over administrative and R&D expenses, the company's net profit significantly increased by **85.6%** to **RMB 140.2 million** from **RMB 75.6 million** in the prior period Net Profit Performance | Metric | H1 2024 (RMB million) | H1 2023 (RMB million) | YoY Change | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Parent | 140.2 | 75.6 | +85.6% | [Liquidity, Financial Resources, and Capital Structure](index=16&type=section&id=Liquidity%2C%20Financial%20Resources%2C%20and%20Capital%20Structure) As of June 30, 2024, the Group maintained a robust financial position with **RMB 1.0842 billion** in cash and cash equivalents and no outstanding bank borrowings, though net current assets decreased to **RMB 1.2259 billion** primarily due to increased other payables from the 2023 final dividend declaration - As of June 30, 2024, total cash and cash equivalents amounted to **RMB 1.0842 billion**, a decrease from **RMB 1.2120 billion** at the end of 2023[38](index=38&type=chunk) - As of June 30, 2024, the Group had no outstanding borrowings or unutilized bank facilities[38](index=38&type=chunk) - Net current assets decreased by **9.6%** from **RMB 1.3565 billion** at the end of 2023 to **RMB 1.2259 billion**, primarily due to an **RMB 189.5 million** increase in other payables resulting from the declared 2023 final dividend[39](index=39&type=chunk) [Key Financial Ratios](index=19&type=section&id=Key%20Financial%20Ratios) As of June 30, 2024, the current ratio significantly decreased from **23.9 times** at the end of 2023 to **5.6 times**, while the debt-to-asset ratio increased from **3.0% to 12.5%**, primarily reflecting a substantial increase in current liabilities due to the declared 2023 final dividend Key Financial Ratios Comparison | Ratio | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Current Ratio | 5.6 times | 23.9 times | | Debt-to-Asset Ratio | 12.5% | 3.0% | [Financial Information](index=20&type=section&id=Financial%20Information) This section presents the company's consolidated financial statements, including the income statement, balance sheet, and detailed notes to the financial statements [Consolidated Income Statement](index=20&type=section&id=Consolidated%20Income%20Statement) During the reporting period, the company achieved total operating revenue of **RMB 249 million**, a **49.7%** year-over-year increase, with operating profit reaching **RMB 164 million** (up **90.9%**) and net profit attributable to parent at **RMB 140 million** (up **85.6%**), resulting in a significant rise in basic earnings per share to **RMB 0.4044** Key Items from Consolidated Income Statement (For the Six Months Ended June 30) | Item | 2024 (RMB) | 2023 (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 249,100,148.65 | 166,351,313.28 | | Operating Profit | 163,888,847.44 | 85,802,122.75 | | Total Profit | 164,137,210.86 | 87,108,001.98 | | Net Profit | 140,228,466.38 | 75,572,149.71 | | Net Profit Attributable to Parent Company Shareholders | 140,228,466.38 | 75,572,149.71 | | Basic Earnings Per Share (RMB/share) | 0.4044 | 0.2179 | [Consolidated Balance Sheet](index=23&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2024, total assets reached **RMB 2.149 billion**, an **8.2%** increase from the beginning of the period, while total liabilities significantly rose to **RMB 269 million** from **RMB 60.19 million**, primarily due to increased dividends payable, with equity attributable to parent company owners remaining stable at **RMB 1.881 billion** Key Items from Consolidated Balance Sheet | Item | June 30, 2024 (RMB) | December 31, 2023 (RMB) | | :--- | :--- | :--- | | Total Current Assets | 1,491,742,452.48 | 1,415,768,421.66 | | Total Non-Current Assets | 657,723,876.45 | 571,169,794.51 | | **Total Assets** | **2,149,466,328.93** | **1,986,938,216.17** | | Total Current Liabilities | 265,843,097.78 | 59,230,865.23 | | **Total Liabilities** | **268,523,169.81** | **60,190,638.38** | | **Total Equity** | **1,880,943,159.12** | **1,926,747,577.79** | [Notes to Financial Statements](index=27&type=section&id=Notes%20to%20Financial%20Statements) The notes provide detailed explanations for key financial statement items, including a rise in accounts receivable from **RMB 32.69 million** to **RMB 73.22 million** due to business growth, and a significant increase in other payables from **RMB 9.05 million** to **RMB 199 million**, primarily driven by **RMB 195 million** in dividends payable - Accounts receivable balance increased from **RMB 40.65 million** at the end of 2023 to **RMB 88.26 million**, with a carrying value of **RMB 73.22 million**, primarily due to business expansion[58](index=58&type=chunk)[59](index=59&type=chunk) - Other payables significantly increased, primarily due to dividends payable rising from **RMB 0** to **RMB 194.8 million**[64](index=64&type=chunk)[65](index=65&type=chunk) [Other Information](index=34&type=section&id=Other%20Information) This section covers the utilization of listing proceeds, corporate governance practices, and the company's dividend policy [Use of Net Proceeds from Listing](index=34&type=section&id=Use%20of%20Net%20Proceeds%20from%20Listing) The company's global offering generated net proceeds of approximately **HKD 567 million**, with approximately **HKD 150 million** utilized as of June 30, 2024, leaving **HKD 417 million** unutilized, primarily allocated for R&D, sales and marketing, and potential investments, with full utilization expected by the end of 2027 Use of Net Proceeds from Global Offering (As of June 30, 2024) | Purpose | Net Proceeds (HKD million) | Cumulative Utilized (HKD million) | Unutilized Funds (HKD million) | Expected Full Utilization Date | | :--- | :--- | :--- | :--- | :--- | | R&D Activities | 287.6 | 103.2 | 184.4 | Before December 31, 2027 | | Sales and Marketing | 137.9 | 26.6 | 111.3 | Before December 31, 2027 | | Capacity Enhancement | 28.4 | 7.4 | 21.0 | Before December 31, 2027 | | Strategic Investments and Acquisitions | 56.7 | 13.2 | 43.5 | Before December 31, 2027 | | Working Capital | 56.7 | 0.0 | 56.7 | Before December 31, 2027 | | **Total** | **567.3** | **150.4** | **416.9** | | [Corporate Governance](index=36&type=section&id=Corporate%20Governance) During the reporting period, the company largely complied with the Corporate Governance Code, with one deviation where the roles of Chairman and Chief Executive Officer are held by the same individual, Ms. Chen Juan, which the Board believes benefits the Group's business through consistent leadership and efficient decision-making - The company deviates from Rule C.2.1 of the Corporate Governance Code, where the roles of Chairman and Chief Executive Officer are concurrently held by one person, Ms. Chen Juan, a structure the Board believes benefits the Group's business prospects[76](index=76&type=chunk) [Dividend Policy](index=37&type=section&id=Dividend%20Policy) The Board of Directors decided not to recommend the payment of an interim dividend for the six months ended June 30, 2024 - The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2024[80](index=80&type=chunk)

Financial Performance - The company reported a significant increase in revenue, achieving a total of $500 million, representing a 25% growth year-over-year[2]. - Lepu Medical reported a revenue increase of 15% year-over-year for the fiscal year ending December 31, 2023, reaching RMB 1.2 billion[11]. - Revenue increased by 31.6% from RMB 247.7 million for the year ended December 31, 2022, to RMB 325.9 million for the year ended December 31, 2023[25]. - Profit attributable to owners of the Company was RMB 151.5 million for the year ended December 31, 2023, compared to a loss of RMB 19.8 million for the year ended December 31, 2022[25]. - Non-IFRS adjusted net profit increased by 55.4% from RMB 111.1 million for the year ended December 31, 2022, to RMB 172.6 million for the year ended December 31, 2023[25]. - The company recorded a net profit of RMB 151.5 million for the year ended December 31, 2023, compared to a net loss of RMB 19.8 million for the year ended December 31, 2022[151]. - The company experienced a significant improvement in financial performance, with total revenue growth and effective cost management strategies implemented throughout the year[148]. User Growth and Market Expansion - User data showed a 30% increase in active users, reaching 1.2 million by the end of the fiscal year[2]. - The user base for Lepu Medical's vascular solutions expanded by 20%, with over 500,000 new patients treated in 2023[11]. - The company is expanding its market presence in Southeast Asia, targeting a 10% increase in market penetration by the end of the next fiscal year[2]. - Lepu Medical plans to enter two new international markets in 2024, aiming for a 5% market share within the first year of operation[11]. - Lepu ScienTech plans to enter new international markets, targeting a 10% increase in overseas sales by the end of the next fiscal year[24]. - The company aims to expand its market reach through ongoing research and development efforts, as well as potential acquisitions and partnerships[52]. Product Development and Innovation - New product launches included a cutting-edge medical device that is expected to capture a 15% market share within the first year[2]. - Research and development expenses increased by 40%, totaling $50 million, to support innovation in medical technology[2]. - Lepu Medical is investing RMB 200 million in R&D for innovative medical technologies, focusing on minimally invasive procedures[11]. - The company is investing heavily in R&D, allocating approximately 15% of its revenue to develop new technologies, including the transcatheter mitral valve repair (TMVR) systems[24]. - The company aims to maximize the application of biodegradable materials in structural heart disease medical devices to enhance product quality and effectiveness[35]. - The company is committed to providing safe, effective, and innovative medical solutions while exploring new frontiers in medical device technology[48]. Strategic Partnerships and Acquisitions - The company is exploring strategic acquisitions to enhance its product portfolio, with a budget of $100 million allocated for potential deals[2]. - A new partnership with a leading healthcare provider is expected to drive sales growth by 15% in the upcoming year[2]. - Lepu Medical has completed the acquisition of a local competitor, enhancing its product portfolio and increasing market presence by 15%[11]. - The company has established partnerships with leading hospitals, increasing its distribution network by 25% in the last year[24]. Financial Health and Efficiency - The company reported a net profit margin of 12%, up from 10% in the previous year, indicating improved operational efficiency[2]. - The gross margin improved to 60%, up from 55% in the previous year, due to cost optimization and increased operational efficiency[11]. - The company aims to reduce production costs by 8% through operational efficiencies and supply chain optimizations in the upcoming year[24]. - The company recorded a net cash flow generated from operating activities increased by 150.7% to RMB 164.3 million for the year ended December 31, 2023, compared to the previous year[31]. - Total assets of the Group were RMB 1,986.5 million as of December 31, 2023, representing a 9.8% increase from the beginning of the year[31]. Market Trends and Future Outlook - The global market for mechanical circulatory support (MCS) devices is expected to grow at a compound annual growth rate (CAGR) of over 10% from 2021 to 2028, reaching a market value of USD 3.4 billion by 2025[94]. - Approximately 13.7 million patients in China and over 64 million globally suffer from cardiac underpower, with about 50% expected to die within five years of diagnosis[94]. - The company aims to differentiate its products in the structural heart disease market, potentially altering the competitive landscape significantly[70]. - The company plans to enhance its marketing team and expand its sales network in China to improve brand awareness and reputation among doctors and patients[100].

智通财经APP讯，心泰医疗(02291)公布2023年业绩，收入约3.26亿元，同比增加31.6%。研发费用同比 增加14.3%至6160万元，公司拥有人应占利润1.515亿元，同比扭亏为盈。经调整纯利同比增加55.4%至 1.73亿元，每股盈利0.44元，末期股息每股0.57元(含税)。 截至本公告日期，该集团共计拥有22款已上市封堵器及配件产品，9款注册审评及注册准备中产品，另 有24款处于不同研发阶段的封堵器、心脏瓣膜及手术配件、机械循环辅助等在研产品。 ...