Core Insights - The latest shareholder equity disclosures for several companies, including Runmind-B, Asia Pacific Financial Investment, UBTECH, Baolong Commercial, and Youbo Holdings, were made on June 30, 2025 [1] Group 1: Runmind-B (02297) - Shenzhen Futian Tongchuang Weiye Great Health Investment Fund reduced its holdings from 83.304 million shares to 81.939 million shares, representing a decrease in ownership from 5.94% to 5.85% [2] - Huang Li decreased his holdings from 113 million shares to 111 million shares, with ownership dropping from 8.05% to 7.95% [2] - Shenzhen Tongchuang Weiye Venture Capital also reduced its holdings from 113 million shares to 111 million shares, with a similar decrease in ownership percentage [2] Group 2: Asia Pacific Financial Investment (08193) - Zhu Xiaoge and Liu Shengnan both reduced their holdings from 54.3772 million shares to 46.6372 million shares, resulting in a decrease in ownership from 19.43% to 16.67% [2] Group 3: UBTECH (09880) - Wang Lin's holdings remained stable at approximately 29.893 million shares, maintaining an ownership percentage of 8.05% [2] Group 4: Baolong Commercial (09909) - Xu Huafang decreased his holdings from 19.192 million shares to 18.942 million shares, with ownership dropping from 2.99% to 2.95% [2] Group 5: Youbo Holdings (08N22069) - Tang Yuantao slightly increased his holdings from 359 million shares to 360 million shares, with ownership increasing from 70.12% to 70.14% [2]

Core Viewpoint - The vascular interventional surgery robot market is rapidly growing, driven by technological advancements, capital investment, and increasing demand, with significant potential for development in China due to the high prevalence of cardiovascular diseases [1][4][8]. Industry Definition and Classification - Vascular interventional surgery robots assist doctors in performing diagnostic and therapeutic procedures guided by medical imaging, utilizing tools such as needles, guidewires, and catheters. They can be classified based on functionality and application techniques, with coronary intervention being the most developed area globally [2][4]. Current Industry Development Status - The vascular interventional surgery robot market has seen substantial growth, with the global market size increasing from $0.03 billion in 2016 to $1.8 billion in 2022, and projected to reach approximately $5.3 billion by 2024 and over $10 billion by 2025 [4][6][8]. Market Potential in China - The vascular interventional surgery robot market in China is still in its early stages, with a market size of approximately $0.29 million in 2022, expected to grow to about $8.58 million by 2025, driven by the high incidence and mortality rates of cardiovascular diseases [8][19]. Industry Chain - The industry chain for vascular interventional surgery robots includes upstream components and materials, midstream equipment manufacturing and system integration, and downstream clinical applications and services [10]. Competitive Landscape - The competitive landscape includes both international and domestic companies. Notable international players have received FDA and CE certifications, while domestic companies are beginning to achieve significant milestones, such as the approval of the first domestic vascular interventional surgery robot by Yidu Medical [12][17][18]. Future Development Trends - The future of vascular interventional surgery robots is expected to feature enhanced feedback and advanced force control capabilities, integrating advanced imaging navigation functions, and expanding applications across various types of vascular interventions [19].

Financial Performance - The company reported a revenue of RMB 39.8 million for the year ended December 31, 2024, a decrease of 45.6% compared to RMB 73.2 million in 2023[9]. - Gross profit for the same period was RMB 23.9 million, down 50.8% from RMB 48.6 million in 2023, resulting in a gross margin of 59.9%[9]. - The loss attributable to shareholders was RMB 113.5 million, a slight improvement of 2.0% from RMB 115.8 million in the previous year[9]. - The adjusted loss per share based on non-Hong Kong Financial Reporting Standards was RMB 0.10, reflecting an 11.1% increase from RMB 0.09 in the previous year[9]. - The net loss for the year ended December 31, 2024, was RMB 1.153 billion, compared to a net loss of RMB 1.171 billion for the year ended December 31, 2023[37]. - Cash used in operating activities for the year ended December 31, 2024, was RMB 843 million, significantly impacted by high R&D, administrative, and sales expenses[38]. - Cash and cash equivalents decreased by 59.3% to RMB 54,607,000 from RMB 134,085,000 in 2023[10]. - Total assets decreased by 19.2% to RMB 463,060,000 from RMB 573,308,000 in 2023[10]. - The company's available distributable reserves as of December 31, 2024, amount to approximately RMB 418.1 million, a decrease from RMB 805.2 million in 2023[157]. Product Development and Innovation - The company’s caFFR system has over 95% accuracy and a convenient operation process taking less than five minutes, establishing its leading position in the domestic FFR measurement market[4]. - The caIMR system received approval from the National Medical Products Administration in April 2023, becoming the first commercially approved minimally invasive IMR measurement product globally[4]. - The company plans to expand the indications for the caFFR system to include acute STEMI, acute NSTEMI, and HFpEF patients, broadening its market reach[4]. - The company aims to launch an interventional surgical robot that integrates all clinical applications for automated PCI processes, enhancing clinical value[6]. - Future product launches include the caFFR system's expanded indications for acute STEMI, acute NSTEMI, and HFpEF patients, expected to be completed by 2025[24]. - The company has established a distribution network of 257 domestic distributors covering over 550 hospitals across 21 provinces in China[16]. - The production capacity is expected to support the annual production of 11,375 consoles and 1,130,765 pressure sensors[19]. - The company plans to integrate existing production and R&D facilities on a newly acquired land of approximately 20,000 square meters to enhance overall capabilities[19]. Corporate Governance and Board Structure - The board of directors is composed of three executive directors, three non-executive directors, and three independent non-executive directors, ensuring a balanced power structure[178]. - The company has appointed independent non-executive directors with extensive experience in financing and investment[70]. - The board's composition includes professionals with backgrounds in finance, law, and engineering, which supports a well-rounded strategic approach to business decisions[61][68]. - The company has established mechanisms to ensure independent viewpoints are provided to the board[194]. - The company has adopted corporate governance practices in line with the listing rules, ensuring high standards of governance to protect shareholder interests[177]. - The company has a diverse board with members holding degrees from prestigious institutions, including Tsinghua University and RMIT, ensuring a high level of expertise[60][66]. - The board diversity policy aims to enhance effectiveness by considering various diversity aspects, including gender, age, and professional qualifications[195]. - The company has achieved a gender ratio of 61% female employees and at least one female director on the board[196]. Financial Management and Risks - The company faces several major risks and uncertainties, some of which are beyond its control[85]. - The company has incurred significant operating losses since its inception and may continue to do so in the foreseeable future as it expands product development and seeks regulatory approvals for its pipeline products[88]. - The company may face challenges in recruiting patients for clinical trials, which could delay clinical development activities[91]. - Rising market prices for raw materials and components may adversely impact the company's financial condition[91]. - The company may face potential product liability claims, and its insurance may not be sufficient to cover all liabilities[91]. - The company actively communicates with stakeholders and aims to enhance operational management and sustainable development based on stakeholder feedback[98]. Employee and Director Management - The company aims to enhance employee skills through continuous education and training programs[49]. - The company has adopted a pre-IPO stock option plan to attract and retain skilled personnel for future growth and expansion[49]. - All directors actively participate in continuous professional development to enhance their knowledge and skills[198]. - The company maintains a proactive approach to director training and development to ensure compliance and effective governance[199]. - The term for executive directors is three years, with specific notice periods for termination outlined in service agreements[190]. - Independent non-executive directors are evaluated annually for their independence, ensuring they provide unbiased opinions[192]. Market Position and Strategy - The company aims to become a global leader in vascular interventional robotic surgery and a respected company worldwide[182]. - The company plans to continue expanding in both the Chinese and global markets to maximize shareholder value and will support capital expenditures through various financing channels[48]. - The company has established partnerships with various investment entities, including Shenzhen Tongchuang Weiye, which holds approximately 96.3% partnership interest in Tongxiang Haoguan[129]. - The company is indirectly owned by Ping An Group, which holds 100% of Ping An Capital and 72,000,000 shares in Ping An Investment[131]. Compliance and Legal Matters - The group has established compliance policies and procedures to ensure adherence to applicable laws and regulations, with no significant non-compliance events reported during the reporting period[165]. - There are no significant legal proceedings or arbitrations involving the company as of December 31, 2024[166]. - The independent auditor for the year ending December 31, 2024, is Shinewing (HK) CPA Limited, which has been appointed for the upcoming annual general meeting[151]. Shareholder Information - As of December 31, 2024, the total number of issued shares is 1,167,799,000[122]. - The top five customers accounted for 49.8% of the total revenue for the year ending December 31, 2024, compared to 43.8% in 2023[163]. - The largest single customer represented 22.1% of the total revenue for the year ending December 31, 2024, up from 14.2% in 2023[163]. - The company has a significant shareholder structure, with Shanghai Jinglin Equity Investment Management holding approximately 5.05% of the shares[127]. - The company has not reported any significant changes in its main business activities during the reporting period[80].

Financial Performance - Revenue decreased by approximately 46.6% from RMB 504 million for the six months ended June 30, 2023, to RMB 268 million for the six months ended June 30, 2024[3]. - Gross profit fell by about 49.9% from RMB 373 million for the six months ended June 30, 2023, to RMB 187 million for the same period in 2024, with a gross margin decline from 74.0% to 69.5%[4]. - The company recorded a loss of RMB 427 million for the six months ended June 30, 2024, compared to a loss of RMB 480 million for the same period in 2023[10]. - Net cash used in operating activities was RMB 412 million for the six months ended June 30, 2024, primarily due to significant R&D, administrative, and sales expenses[11]. - The company reported a basic and diluted loss per share of RMB 0.04, unchanged from the previous year[55]. - The loss attributable to shareholders for the six months ended June 30, 2024, was RMB 41,646,000, compared to RMB 47,479,000 for the same period in 2023, representing a decrease of approximately 12.4%[87]. Expenses and Cost Management - Research and development expenses decreased by approximately 18.3% from RMB 226 million for the six months ended June 30, 2023, to RMB 185 million for the same period in 2024[5]. - Sales expenses reduced by about 22.9% from RMB 384 million for the six months ended June 30, 2023, to RMB 296 million for the same period in 2024[6]. - General and administrative expenses decreased significantly from RMB 373.21 million for the six months ended June 30, 2023, to RMB 233.56 million for the six months ended June 30, 2024, representing a year-on-year decline of approximately 37.4%[8]. - Employee benefit expenses dropped by RMB 122.01 million, primarily due to a reduction in salaries and administrative staff[8]. - The company is focusing on cost control measures to manage expenses effectively amid declining sales[6]. Revenue Sources and Market Performance - FlashPressure caFFR pressure sensor sales dropped from RMB 40.6 million in 2023 to RMB 21.1 million in 2024[3]. - FlashAngio caFFR system sales decreased significantly from RMB 3.9 million in 2023 to RMB 15,000 in 2024[3]. - The company reported a total of RMB 308,000 in installation and training service revenue for the six months ended June 30, 2024, down from RMB 439,000 in 2023[3]. - Revenue from product sales dropped to RMB 26,560 thousand, down 46.8% from RMB 49,935 thousand year-over-year[74]. - Revenue from the Chinese market was RMB 26,497 thousand, a significant decline of 47.4% from RMB 50,366 thousand in the same period of 2023[77]. Research and Development - The R&D team consists of over 100 members, accounting for approximately one-third of the total workforce, focusing on innovative products in precision intervention therapy[22]. - The company continues to focus on research and development, particularly in the areas of coronary artery disease and related technologies[118]. - The proprietary consumables for the caFFR system have patient self-pay prices ranging from RMB 10,200 to RMB 12,000 in 33 provinces and regions, with 24 provinces including it in medical insurance reimbursement lists[21]. - The company is actively working to include the caIMR system's proprietary consumables in medical insurance reimbursement lists[21]. Corporate Governance and Shareholding - The board of directors consists of three non-executive directors, three independent non-executive directors, and three executive directors, ensuring a balanced distribution of power and authority[33]. - The company has adopted the corporate governance code and has complied with all provisions except for the separation of roles between the chairman and CEO, which is currently held by the same individual[33]. - As of June 30, 2024, Mr. Huo Yunfei holds 214,749,000 shares, representing approximately 18.39% of the company[39]. - The total shareholding of major shareholders indicates a significant concentration of ownership, with the top three shareholders holding over 50% of the shares[42][43]. - The company is subject to regulatory disclosures under the Securities and Futures Ordinance, ensuring transparency in shareholding[41]. Assets and Liabilities - Total assets increased to RMB 600,794 thousand as of June 30, 2024, compared to RMB 573,308 thousand on December 31, 2023, representing an increase of approximately 4.3%[57]. - Current liabilities surged to RMB 108,543 thousand, a significant increase from RMB 40,982 thousand, reflecting a rise of approximately 164.5%[58]. - The company recorded a total equity of RMB 480,257 thousand as of June 30, 2024, down from RMB 520,012 thousand, representing a decrease of about 7.6%[58]. - The company's total liabilities reached RMB 120,537 thousand, up from RMB 53,296 thousand, indicating a significant increase of approximately 126.3%[58]. Strategic Plans and Market Expansion - The company plans to continue expanding in the Chinese and global markets, focusing on product development and growth through internal development, mergers, and acquisitions[16]. - The company aims to enhance its competitive advantage in the FFR and IMR fields, expand IVD product coverage, and penetrate both domestic and overseas markets to achieve healthy growth and high-quality development in 2024[31]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position[120]. Compliance and Regulatory Matters - The company is committed to ensuring compliance with local regulations and standards[120]. - The company is subject to the Securities and Futures Ordinance of Hong Kong[120]. - The company has maintained a policy of regularly monitoring liquidity risks and ensuring sufficient cash and cash equivalents to meet its operational needs[71].

[Announcement Overview](index=1&type=section&id=Announcement%20Overview) This section provides the purpose and background of the announcement, detailing the use of net proceeds from the global offering [Purpose and Background of the Announcement](index=1&type=section&id=Purpose%20and%20Background%20of%20the%20Announcement) This announcement supplements Runmed Medical Co., Ltd.'s 2023 annual report, detailing the use of approximately HK$78.6 million net proceeds from the global offering as of December 31, 2023 - This announcement is a supplementary disclosure to Runmed Medical Co., Ltd.'s (Stock Code: 2297) 2023 annual report[1](index=1&type=chunk) - The primary purpose is to provide specific details on the use of approximately **HK$78.6 million** net proceeds from the global offering as of December 31, 2023[1](index=1&type=chunk) [Use of Net Proceeds from Global Offering](index=1&type=section&id=Use%20of%20Net%20Proceeds%20from%20Global%20Offering) This section details the allocation and utilization of the HK$78.6 million net proceeds from the global offering across various strategic initiatives [Allocation and Utilization of Net Proceeds](index=1&type=section&id=Allocation%20and%20Utilization%20of%20Net%20Proceeds) As of December 31, 2023, the company fully utilized the HK$78.6 million net proceeds from the global offering, with HK$42.3 million used in 2023, primarily for R&D, production, and commercialization of core and pipeline products Allocation and Utilization of Net Proceeds from Global Offering (As of December 31, 2023) | Intended Use of Net Proceeds | Approximate Percentage of Total Net Proceeds | Net Proceeds Allocated (HK$ million) | Balance as of December 31, 2022 (HK$ million) | Net Proceeds Utilized in 2023 (HK$ million) | Balance as of December 31, 2023 (HK$ million) | | :------------------------------------------------------------------------------------------------ | :------------------------------------------- | :----------------------------------- | :-------------------------------------------- | :------------------------------------------ | :-------------------------------------------- | | Ongoing R&D, further clinical studies, registration preparation, production, and commercialization of core products caFFR and caIMR systems | 80.0% | 62.9 | 35.1 | 35.1 | – | | Ongoing R&D, production, and commercialization of other pipeline products | 16.5% | 13.0 | 7.2 | 7.2 | – | | General working capital and general corporate purposes | 3.5% | 2.7 | – | – | – | | **Total** | **100.0%** | **78.6** | **42.3** | **42.3** | **–** | - As of December 31, 2023, the **HK$78.6 million** net proceeds from the global offering were fully utilized, with **HK$42.3 million** utilized in 2023[1](index=1&type=chunk) [R&D and Commercialization of Core Products](index=1&type=section&id=R%26D%20and%20Commercialization%20of%20Core%20Products) The company allocated 80.0% of net proceeds (HK$62.9 million) to R&D, clinical studies, registration, production, and commercialization of caFFR and caIMR systems, fully utilized by December 31, 2023 Fund Utilization for R&D and Commercialization of Core Products | Metric | Amount (HK$ million) | | :-------------------------- | :------------------- | | Allocated Amount | 62.9 | | Amount Utilized in 2023 | 35.1 | | Balance as of December 31, 2023 | – | - **80.0%** of the net proceeds (**HK$62.9 million**) were allocated for ongoing R&D, clinical studies, registration, production, and commercialization of the core caFFR and caIMR systems[1](index=1&type=chunk) [R&D and Commercialization of Other Pipeline Products](index=1&type=section&id=R%26D%20and%20Commercialization%20of%20Other%20Pipeline%20Products) 16.5% of net proceeds (HK$13.0 million) were allocated for ongoing R&D, production, and commercialization of other pipeline products, fully utilized by December 31, 2023 Fund Utilization for R&D and Commercialization of Other Pipeline Products | Metric | Amount (HK$ million) | | :-------------------------- | :------------------- | | Allocated Amount | 13.0 | | Amount Utilized in 2023 | 7.2 | | Balance as of December 31, 2023 | – | - **16.5%** of the net proceeds (**HK$13.0 million**) were allocated for ongoing R&D, production, and commercialization of other pipeline products[1](index=1&type=chunk) [General Working Capital and Corporate Purposes](index=1&type=section&id=General%20Working%20Capital%20and%20Corporate%20Purposes) 3.5% of net proceeds (HK$2.7 million) were allocated for general working capital and corporate purposes, fully utilized by December 31, 2023 Fund Utilization for General Working Capital and Corporate Purposes | Metric | Amount (HK$ million) | | :-------------------------- | :------------------- | | Allocated Amount | 2.7 | | Amount Utilized in 2023 | – | | Balance as of December 31, 2023 | – | - **3.5%** of the net proceeds (**HK$2.7 million**) were allocated for general working capital and corporate purposes[1](index=1&type=chunk) [Other Information](index=2&type=section&id=Other%20Information) This section clarifies the impact of this supplementary announcement on the 2023 annual report and details the current composition of the Board of Directors [Impact on 2023 Annual Report](index=2&type=section&id=Impact%20on%202023%20Annual%20Report) The information in this supplementary announcement only complements the 2023 annual report, not affecting the accuracy or validity of other disclosed information, with the report's content remaining unchanged - The supplementary information provided in this announcement does not affect other information contained in the 2023 annual report[2](index=2&type=chunk) - Except for the disclosures in this announcement, other content of the 2023 annual report remains unchanged[2](index=2&type=chunk) [Composition of the Board of Directors](index=2&type=section&id=Composition%20of%20the%20Board%20of%20Directors) As of the announcement date, Runmed Medical Co., Ltd.'s Board of Directors comprises three executive, three non-executive, and three independent non-executive directors - The Board of Directors consists of Mr. Huo Yunfei, Mr. Lyu Yonghui, and Ms. Gu Yang as Executive Directors[2](index=2&type=chunk) - The Board of Directors includes Dr. Huo Yunlong, Mr. Wang Lin, and Mr. Heng Lei as Non-executive Directors[2](index=2&type=chunk) - The Board of Directors comprises Mr. Liao Chuanjiang, Mr. Li Haomin, and Mr. Chen Xuefeng as Independent Non-executive Directors[2](index=2&type=chunk)

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 26.9 million, a decrease of 46.6% compared to RMB 50.4 million in the same period of 2023[1] - Gross profit for the same period was RMB 18.7 million, down 49.9% from RMB 37.3 million, resulting in a gross margin of 69.5%, compared to 74.0% in 2023[1] - The adjusted loss attributable to shareholders for the six months ended June 30, 2024, was RMB 40.2 million, a decrease of 4.5% from RMB 42.1 million in 2023[1] - Operating loss for the six months was RMB 44.7 million, compared to RMB 55.3 million in the same period last year[2] - The company reported a net loss of RMB 42.7 million for the period, compared to a net loss of RMB 48.0 million in 2023[2] - The company reported a loss attributable to shareholders of RMB 41,646 thousand for the six months ended June 30, 2024, compared to a loss of RMB 47,479 thousand for the same period in 2023, representing a decrease of approximately 12.9%[22] - The basic loss per share remained at RMB 0.04 for both the six months ended June 30, 2024, and 2023, indicating no change in performance on a per-share basis[22][23] - The loss for the six months ended June 30, 2024, was RMB 42.7 million, an improvement from a loss of RMB 48.0 million for the six months ended June 30, 2023[53] Revenue and Sales - Revenue for the six months ended June 30, 2024, was RMB 26,868 thousand, a decrease of 46.7% compared to RMB 50,374 thousand for the same period in 2023[11] - Product sales accounted for RMB 26,560 thousand, down 46.8% from RMB 49,935 thousand in the previous year[11] - Revenue decreased from RMB 50.4 million for the six months ended June 30, 2023, to RMB 26.9 million for the six months ended June 30, 2024, representing a year-on-year decline of approximately 46.6%[34] Expenses and Costs - Research and development expenses for the period were RMB 18.5 million, down from RMB 22.6 million in the previous year[2] - Employee benefit expenses decreased to RMB 45,550 thousand, down 30.3% from RMB 65,347 thousand in the same period last year[16] - Sales expenses decreased by approximately 22.9% to RMB 29.6 million for the six months ended June 30, 2024, from RMB 38.4 million for the same period in 2023, mainly due to reduced employee benefits and marketing development expenses[48] - General and administrative expenses significantly decreased by approximately 37.4% to RMB 23.4 million for the six months ended June 30, 2024, from RMB 37.3 million for the same period in 2023, primarily due to a reduction in employee benefits[50] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 600.8 million, an increase from RMB 573.3 million as of December 31, 2023[5] - Cash and cash equivalents were RMB 117.9 million, down from RMB 134.1 million at the end of 2023[5] - Trade receivables increased to RMB 7,831 thousand as of June 30, 2024, from RMB 3,691 thousand as of December 31, 2023, reflecting a growth of approximately 112.9%[25] - The net amount of trade and other receivables rose to RMB 17,698 thousand as of June 30, 2024, compared to RMB 10,350 thousand as of December 31, 2023, marking an increase of about 71.3%[25] - Trade payables decreased to RMB 1,552 thousand as of June 30, 2024, from RMB 3,447 thousand as of December 31, 2023, a decline of approximately 54.9%[31] - The company had a debt balance of RMB 25.5 million as of June 30, 2024, with unused bank financing of RMB 480.1 million[56] Corporate Governance - The company has adhered to all provisions of the corporate governance code, except for the deviation regarding the roles of the Chairman and CEO being held by the same individual, Mr. Huo Yunfei[61] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim financial information for the six months ending June 30, 2024[64] - The company is committed to maintaining high standards of corporate governance to enhance shareholder value and accountability[61] - The company will continue to review and monitor its corporate governance practices to ensure compliance with the corporate governance code[61] - The company has established a standard code for securities trading by directors, which all directors confirmed compliance with during the reporting period[61] - The company has a diverse board composition, ensuring a balanced distribution of power and authority[61] Research and Development - The company continues to invest in the research, development, and commercialization of medical devices related to caFFR systems, caIMR systems, and IVD products[7] - The caFFR system has achieved over 95% accuracy and a convenient operation process of less than five minutes, establishing itself as a leading FFR measurement product in the domestic market[32] - The caIMR system received approval from the National Medical Products Administration in April 2023, becoming the world's first minimally invasive IMR measurement product approved for commercialization[32] - The company plans to expand the indications for the caFFR system to include acute STEMI, acute NSTEMI, and HFpEF patients, enhancing its product offerings[32] - The Flash Robot vascular interventional navigation surgical system is currently in the research and refinement stage, with successful animal trials completed in February 2022[42] - The company has obtained 85 II-class registration certificates for biochemical diagnostic reagents, covering major diagnostic categories such as liver function and kidney function[43] Market Strategy and Expansion - The company aims to enhance its competitive advantage in the FFR and IMR fields and expand its IVD product coverage and market presence in the second half of the year[44] - The company is actively pursuing overseas market layouts and strengthening domestic market penetration to achieve healthy growth and high-quality development in 2024[44] - The company plans to continue expanding in both China and global markets, focusing on product development and growth through internal development, mergers, and acquisitions[57] - As of June 30, 2024, the company has established a distribution network of 185 domestic distributors covering over 350 hospitals across 21 provinces, four autonomous regions, and four municipalities in China[34] - The company has sold and installed core products in over 700 hospitals, with more than 1,400 hospitals having used the core products in China[34] Other Financial Information - The company did not declare any interim dividend for the six months ended June 30, 2024[1] - The company has not declared or paid any dividends for the six months ended June 30, 2024, and 2023[29] - Other income increased from RMB 1.5 million for the six months ended June 30, 2023, to RMB 7.3 million for the six months ended June 30, 2024, primarily due to increased government subsidies[51] - Income tax expense changed from a credit of RMB 0.5 million for the six months ended June 30, 2023, to an expense of RMB 0.3 million for the six months ended June 30, 2024, mainly due to profit generated from interest income[52] - The company has capital commitments of RMB 283.7 million related to construction and services for its industrial park as of June 30, 2024[57]

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 73.2 million, a decrease of 12.4% from RMB 83.6 million in 2022[12] - Gross profit for 2023 was RMB 48.6 million, down 30.5% from RMB 69.8 million in 2022, resulting in a gross margin of 66.3% compared to 83.5% in the previous year[12] - The loss attributable to shareholders for 2023 was RMB 115.8 million, a significant reduction of 91.4% from RMB 1.35 billion in 2022[12] - The adjusted loss attributable to shareholders under non-HKFRS for 2023 was RMB 108.3 million, compared to RMB 100.9 million in 2022, reflecting a 7.3% increase[12] - The basic and diluted loss per share for 2023 was RMB 0.10, a 93.3% improvement from RMB 1.50 in 2022[12] - The company reported a revenue decline of approximately 12.4%, from RMB 836 million in 2022 to RMB 732 million in 2023, primarily due to contributions from the caFFR and caIMR systems[21] - Gross profit decreased by approximately 30.4% from RMB 698 million in the year ended December 31, 2022, to RMB 486 million in the year ended December 31, 2023, with gross margin dropping from 83.5% to 66.3%[34] - The company reported a comprehensive loss for the year ending December 31, 2023, with no dividends declared or distributed[104] Product Development and Innovation - The caFFR system has over 95% accuracy and a convenient operation process taking less than five minutes, establishing its leading position in the domestic FFR measurement market[6] - The caIMR system received approval from the National Medical Products Administration in April 2023, becoming the first commercialized minimally invasive IMR measurement product globally[6] - The company plans to expand the indications for the caFFR system to include acute STEMI, acute NSTEMI, and HFpEF patients[6] - The company aims to develop an interventional surgical robot to automate the entire PCI process, enhancing clinical value and precision in medical treatment[8] - The company plans to expand its IVD product line, having already obtained 85 II-class registration certificates for biochemical diagnostic reagents[30] - The Flash Robot vascular intervention navigation surgical system is currently in the research and refinement stage, with successful animal testing completed as of December 31, 2023[29] Financial Position and Assets - Non-current assets increased by 134.9% to RMB 204,093,000 from RMB 86,897,000 in 2022[13] - Cash and cash equivalents rose by 47.2% to RMB 134,085,000 compared to RMB 91,118,000 in the previous year[13] - Total assets decreased by 17.0% to RMB 573,308,000 from RMB 690,330,000 in 2022[13] - Cash used in operating activities was RMB 1,243 million for the year ended December 31, 2023, primarily due to significant R&D, administrative, and sales expenses[46] - Cash generated from investing activities was RMB 1,803 million, mainly due to proceeds from the sale of short-term bank deposits amounting to RMB 4,793 million[46] - The fair value loss on financial liabilities related to redeemable preferred shares decreased significantly from RMB 1,210.9 million in 2022 to zero in 2023[44] - The company expects future liquidity needs to be met through net proceeds from global offerings, available cash, and cash generated from operations[46] Market and Distribution - The company has established a distribution network of 144 domestic distributors covering over 700 hospitals across 22 provinces in China[22] - The group’s top five customers accounted for 43.8% of total revenue for the year ended December 31, 2023, down from 49.4% in 2022, with the largest single customer contributing 14.2% of total revenue, compared to 12.9% in 2022[194] - The group’s top five suppliers represented 69.6% of total purchases for the year ended December 31, 2023, significantly up from 16.9% in 2022, with the largest single supplier accounting for 59.7% of total purchases, compared to 5.1% in 2022[195] Research and Development - The R&D team consists of over 100 members, focusing on innovative products in the field of interventional precision diagnosis[23] - Research and development expenses decreased by approximately 6.4% from RMB 441.7 million in 2022 to RMB 413.3 million in 2023, primarily due to capitalized R&D expenditures[36] Management and Governance - The executive director and CEO, Mr. Huo Yunfei, has over seven years of experience in the medical device industry and founded Suzhou Runxin Medical Device Co., Ltd. in August 2014[64] - The executive director and co-CEO, Mr. Lv Yonghui, has over 20 years of experience in the medical device industry, previously serving as the deputy general manager at Lepu Medical Technology (Beijing) Co., Ltd.[66] - The CFO and co-company secretary, Mr. Zhang Liang, has over 16 years of senior management experience, particularly in compliance, investment, and financing[70] - The company has established a remuneration committee to formulate remuneration policies in accordance with the Listing Rules[132] - The company has received annual independence confirmations from all independent non-executive directors, affirming their independence[128] Employee and Human Resources - The group employed 406 full-time employees as of December 31, 2023, with total employee benefits expenses amounting to RMB 7.48 million during the reporting period[62] - The company invests in continuous education and training programs for employees to enhance their skills and knowledge[62] - Employee performance evaluations are conducted to determine salary, promotion opportunities, and career development[62] Risks and Challenges - The company has faced significant financial risks and uncertainties, particularly related to capital needs and product development[107] - Future growth largely depends on the successful development and commercialization of pipeline products, with potential delays or additional costs if clinical trials do not meet regulatory standards[112] - The company faces risks related to the acceptance of its products by doctors and hospitals, which could negatively impact operational performance if not widely recognized in the market[112] - Regulatory approval processes are lengthy, costly, and unpredictable, and delays in obtaining necessary approvals could severely impair the company's ability to generate revenue[122] Corporate Social Responsibility - The company is committed to environmental protection and has implemented effective measures for resource efficiency, waste reduction, and energy conservation[120] - Charitable donations and contributions totaled RMB 250,000 for the year ended December 31, 2023[200]

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 73.2 million, a decrease of 12.4% compared to RMB 83.6 million in 2022[2] - Gross profit was RMB 48.6 million with a gross margin of 66.3%, down from RMB 69.8 million and 83.5% in the previous year, representing a decline of 30.4%[2] - Loss attributable to shareholders was RMB 115.8 million, significantly improved from a loss of RMB 1,346.0 million in 2022, marking a 91.4% reduction[2] - Adjusted loss attributable to shareholders under non-Hong Kong Financial Reporting Standards was RMB 108.3 million, compared to RMB 100.9 million in 2022, an increase of 7.4%[2] - Basic and diluted loss per share was RMB (0.10), a substantial improvement from RMB (1.50) in the previous year, reflecting a 93.3% decrease in loss per share[2] - Total revenue for the year ended December 31, 2023, was RMB 73,219,000, a decrease of 12.4% from RMB 83,604,000 in 2022[36] - Revenue from product sales was RMB 72,684,000, down from RMB 82,634,000, representing a decline of 12.1%[36] - Revenue from installation and training services decreased to RMB 535,000 from RMB 970,000, a drop of 44.8%[36] - The company recorded a loss of RMB 1,171.0 million for the year ended December 31, 2023, compared to a loss of RMB 1,346.0 million for the year ended December 31, 2022[120] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 573.3 million, down from RMB 690.3 million in 2022[27] - Cash and cash equivalents totaled RMB 134.1 million, with bank deposits maturing in over three months amounting to RMB 65.6 million[24] - Trade receivables increased to RMB 3,691,000 for the year ended December 31, 2023, up from RMB 148,000 in 2022, indicating improved collection efficiency[74] - The net amount of trade and other receivables rose to RMB 10,350,000 in 2023 from RMB 6,534,000 in 2022, showing a growth of approximately 58%[74] - Trade and other payables decreased to RMB 29,029,000 in 2023 from RMB 39,229,000 in 2022, indicating improved cash flow management[88] - The company has unutilized bank financing of RMB 490.0 million as of December 31, 2023[124] - Capital commitments amounted to RMB 356.0 million as of December 31, 2023, related to the purchase of construction and equipment services for the group's production facilities[125] Research and Development - Research and development expenses for the year were RMB 41.3 million, slightly down from RMB 44.2 million in 2022[5] - The company has developed 173 approved patents and 137 pending patents, with a dedicated R&D team of over 100 members[94] - The company aims to enhance its competitive advantage in the FFR and IMR fields and expand its IVD product coverage and market presence in 2024[105] - The company is committed to adhering to the Good Manufacturing Practice (GMP) standards for its medical products[158] - The company emphasizes the importance of clinical trials to validate the efficacy and safety of its medical devices[180] Product Development and Market Strategy - The company is engaged in the research, development, manufacturing, and commercialization of medical devices related to caFFR systems, caIMR systems, and IVD products in China, Europe, and other regions[33] - The company’s caFFR system has achieved over 95% accuracy and a convenient operation process of less than five minutes, establishing itself as a leading FFR measurement product in China[90] - The caIMR system received approval from the National Medical Products Administration in April 2023, marking it as the world's first minimally invasive IMR measurement product to complete confirmatory clinical trials[90] - The company plans to expand the indications for the caFFR system to include acute STEMI, acute NSTEMI, and HFpEF patients, enhancing its market reach[90] - The company aims to automate the entire PCI process through the integration of its vascular intervention robot with its existing clinical applications[90] - The company has halted clinical trials for the Flash RDN system, indicating a strategic shift in product development[96] Governance and Corporate Structure - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[148] - The board of directors consists of executive directors including Mr. Huo Yunfei, Mr. Lv Yonghui, Mr. Zhang Liang, and Ms. Gu Yang, along with non-executive directors and independent non-executive directors[200] - The company is focused on enhancing corporate governance in accordance with the Corporate Governance Code[161] - The presence of multiple executive and independent directors suggests a robust governance framework[200] - The company is committed to transparency and accountability in its operations as reflected in the board's composition[200] Future Outlook - The company plans to continue expanding in both the Chinese and global markets, focusing on product development and potential mergers and acquisitions[137] - The company aims for healthy growth and high-quality development in 2024 despite a challenging industry landscape[105] - Future communications may include detailed financial performance and strategic initiatives as the company progresses[200]

Revenue and Profitability - Revenue for the six months ended June 30, 2023, decreased by approximately 2.9% to RMB 50.4 million from RMB 51.9 million for the same period in 2022[8]. - Gross profit for the same period decreased by approximately 16.7% to RMB 37.3 million, with a gross margin decline from 86.4% to 74.0%[9]. - The overall decrease in revenue is attributed to reduced sales of the FlashPressure caFFR sensor and caFFR system[8]. - The company recorded a loss of RMB 480.0 million for the six months ended June 30, 2023, compared to a loss of RMB 1,210.2 million in the same period of 2022[20]. - The company reported a loss of RMB 48,015 thousand for the six months ended June 30, 2023, significantly improved from a loss of RMB 1,210,222 thousand in the same period of 2022, representing a reduction of approximately 96%[102]. - Total comprehensive loss for the period was RMB 39,570 thousand, compared to RMB 1,286,552 thousand in the previous year, indicating a substantial decrease of about 97%[102]. - Basic loss per share improved to RMB 0.04 in 2023 from RMB 1.88 in 2022, demonstrating a positive trend in financial performance[153]. Expenses and Cost Management - Research and development expenses decreased by approximately 19.1% to RMB 22.6 million from RMB 28.0 million in the prior year, primarily due to capitalized R&D expenditures[11]. - Sales expenses increased by approximately 18.3% to RMB 38.4 million from RMB 32.5 million in the previous year, driven by increased employee benefits and marketing development expenses[13]. - General and administrative expenses decreased from RMB 471.5 million in the six months ended June 30, 2022, to RMB 373.2 million in the same period of 2023, a year-on-year decline of approximately 20.9%[16]. - Employee benefit expenses rose to RMB 65,347 thousand from RMB 62,727 thousand, while total expenses decreased to RMB 111,464 thousand from RMB 114,630 thousand[145]. Cash Flow and Financial Position - Cash used in operating activities was RMB 602.0 million, significantly impacted by high R&D, administrative, and sales expenses[21]. - Cash and cash equivalents increased to RMB 1,229.0 million as of June 30, 2023, up RMB 318.0 million from RMB 911.0 million on December 31, 2022[22]. - The company incurred cash outflows from operating activities of RMB 60,236 thousand, compared to RMB 48,456 thousand in the previous year, representing an increase of about 24%[114]. - The company reported a net cash inflow from investing activities of RMB 84,410 thousand, a significant improvement from a cash outflow of RMB 12,186 thousand in the same period of 2022[114]. - The company has unutilized bank financing of RMB 185,000,000 as of June 30, 2023, compared to RMB 191,000,000 in the previous year[179]. Shareholder Structure and Equity - The largest shareholder, Opera Rose Limited, holds 214,749,000 shares, representing 18.40% of the company[74]. - The total number of issued shares as of June 30, 2023, is 1,167,799,000[78]. - The company has granted a total of 707,628 share options, adjusted to 35,381,400 shares, representing 3.03% of the current issued share capital, with an exercise price of HKD 3.90 per share[92]. - The weighted average number of ordinary shares issued increased to 1,167,799,000 shares in 2023 from 644,500,000 shares in 2022, reflecting a substantial increase in share capital[153]. Product Development and Market Expansion - The company is focusing on expanding its product offerings, including the introduction of the FlashAngio caIMR system and IVD products, which generated sales of RMB 2.9 million and RMB 2.6 million, respectively[8]. - The company plans to continue investing in R&D and expanding its market presence to drive future growth[11]. - The company plans to launch its vascular interventional surgical robot by 2026, aiming to automate the entire PCI process through integrated clinical applications[42]. - The company aims for positive growth and high-quality development in 2023, focusing on strengthening its competitive advantages in the FFR and IMR sectors while actively pursuing overseas market opportunities[58]. Acquisitions and Investments - The company acquired a 57% equity stake in Tianjin Yuehekang Biotechnology Co., Ltd. for RMB 15.96 million and subscribed to an increase in registered capital for RMB 10.0 million[27]. - The acquisition of Tianjin Yuehekang Biotechnology Co., Ltd. is part of the company's strategy to expand into the in vitro diagnostics field[58]. - The company completed the acquisition of Tianjin Yuehe Kang Biotechnology Co., Ltd. for a total consideration of RMB 25,960,000, acquiring 68.32% of its registered capital[183]. Research and Development - The R&D team consists of over 100 members, accounting for approximately one-third of the total workforce, focusing on innovative products in the field of interventional precision therapy[47]. - The company capitalized development costs of approximately RMB 12,238,000 for the six months ended June 30, 2023, compared to zero in the same period of 2022, indicating increased investment in R&D[158]. - The company holds 128 approved patents and has 159 patents pending, including 120 in China and 45 overseas[47]. Regulatory and Compliance - The caIMR system received approval from the National Medical Products Administration in April 2023, becoming the world's first minimally invasive IMR measurement product approved for commercialization[42]. - The company’s subsidiary in Suzhou enjoys a preferential tax rate of 15% on estimated taxable profits due to its certification as a high-tech enterprise[150]. - The company has not made any provisions for Hong Kong profits tax as there were no estimated taxable profits generated in Hong Kong for the periods ended June 30, 2023, and 2022[149].

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分內容而產生或因依賴該等內容而引致的任何損失承擔任 何責任。 Rainmed Medical Limited 潤 邁 德 醫 療 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2297） 截 至 2023 年 6 月 30 日 止 六 個 月 之 中 期 業 績 公 告 財務摘要 未經審核 截至6月30日止六個月 2023年 2022年 變化 人民幣百萬元 人民幣百萬元 （百分比除外）（百分比除外） 收入 50.4 51.9 (2.9%) 毛利 37.3 44.8 (16.7%) 毛利率 74.0% 86.4% 本公司股東之應佔虧損 (47.5) (1,210.2) (96.1%) 經調整非香港財務報告準則之 本公司股東之應佔虧損附註 (42.1) (22.2) 89.6% ...