Core Insights - Highsight Medical (02407.HK) reported a revenue of 653 million yuan for the first half of 2025, reflecting a year-on-year growth of 1.7% [1] - The gross profit reached 316 million yuan with a gross margin of 48.3%, an increase of 1.8 percentage points [1] - Net profit surged to 35.9 million yuan, marking a year-on-year increase of 33.5% [1] Group 1: Financial Performance - The increase in gross margin and net profit is attributed to the rise in self-owned product revenue and continuous optimization of the revenue structure [1] - Self-owned business revenue reached 322 million yuan in the first half of 2025, contributing nearly half of the total revenue [2] - Self-owned product revenue was 203 million yuan, up 14.05% year-on-year, with artificial lenses contributing 171 million yuan, a growth of 11.4% [2] Group 2: R&D Investment and Product Development - R&D investment has consistently increased, from 41.09 million yuan in 2022 to 78.42 million yuan in 2024, with 43.4 million yuan spent in the first half of 2025, a 23.6% increase [1] - The proportion of R&D investment relative to self-owned product revenue rose from 13.3% in 2022 to 21.4% in the first half of 2025 [1] - The company has expanded its self-owned product portfolio to 72 items, with self-owned products contributing over 30% of total revenue [1] Group 3: Market Position and Strategy - The domestic market for ophthalmic medical devices, particularly surgical equipment, remains underdeveloped, presenting opportunities for growth [1] - Highsight Medical's dual strategy of "self-research products + high-end agency" supports its stable cash flow and competitive positioning [1] - The company has established a mature sales network covering 51 countries and regions, enhancing its market reach [1]

Major Events - Lai Kai Pharmaceutical-B (02105) reported positive preliminary results from Phase I clinical MAD study, with LAE102 showing encouraging trends in muscle gain and fat loss [1] - Fuhong Hanlin (02696) received FDA approval for the Phase I clinical trial application of HLX13 for first-line treatment of unresectable hepatocellular carcinoma (HCC) patients [1] - Ningmeng Media (09857) has commenced filming the urban medical emotional drama "Asking Heart 2" [1] - CRRC Corporation (01766) and its subsidiaries signed significant contracts totaling approximately 54.34 billion [1] - Heng Rui Pharmaceutical (01276) received approval to conduct clinical trials for SHR-7787 injection, SHR-4849 injection, Bevacizumab injection, and Atezolizumab injection [1] - Hema Medical (03309) entered into a tripartite global licensing and collaboration agreement with Gilead and Hanmi regarding enecuidar [1] - Jinfang Pharmaceutical-B (02595) completed the enrollment of the first patient in the Phase I/II clinical trial of the molecular glue Pan RAS(ON) inhibitor GFH276 for RAS mutant cancer patients [1] - Gao Shi Medical (02407) obtained international certification for its medical device quality management system [1] Operating Performance - Shenzhen Expressway Company (00548) reported toll revenue of 114 million for the Outer Ring project in August [1] - China National Automobile (00026) announced an annual performance with a post-tax loss attributable to shareholders of 185 million HKD, a year-on-year reduction of 29.64% [1] - OKURA HOLDINGS (01655) reported an annual profit attributable to shareholders of 1.342 billion JPY, a year-on-year decrease of 34.34% [1] - Elephant Future Group (02309) disclosed an annual performance with a loss attributable to owners of approximately 314 million HKD, a year-on-year increase of 71.77% [1] - Henghe Group (00513) reported an annual performance with a loss attributable to owners of approximately 259 million HKD, a year-on-year increase of 0.7% [1]

Core Viewpoint - The company has received ISO13485:2016 certification for its medical device quality management system, indicating compliance with international standards in the medical device industry [1] Group 1: Certification Details - The certification was issued by DEKRA, a leading independent certification body, covering the entire process of design, development, production, and sales of intraocular lenses for cataract and presbyopia patients [1] - ISO13485 is recognized by global regulatory bodies such as China's NMPA, EU's CE, and the US FDA, focusing on patient-centered risk management and quality control throughout the product lifecycle [1] Group 2: Implications for the Company - The achievement of this certification demonstrates the company's commitment to enhancing its quality management system and signifies its capability in medical device quality management, risk control, and compliance operations at an international standard [1] - This important qualification lays a solid foundation for the company to further expand into international markets [1]

Core Viewpoint - The company, Gaoshi Medical (02407), has announced that its subsidiary, Gaoshi Tailiang Medical Technology Co., Ltd., has officially received ISO13485:2016/EN ISO13485:2016 medical device quality management system certification from DEKRA, indicating compliance with international standards in quality management for medical devices [1] Group 1: Certification Details - The certification covers the entire process of design, development, production, and sales of intraocular lenses used for treating cataracts and presbyopia, along with their associated implantation systems [1] - DEKRA, established in 1925, is a globally recognized independent non-listed professional inspection, testing, and certification organization [1] Group 2: Importance of ISO13485 - ISO13485 is a specialized quality management system standard for the medical device industry, focusing on patient-centered risk management and comprehensive quality control throughout the product lifecycle [1] - Achieving this certification signifies that the company has established a quality management system that meets regulatory requirements and is committed to continuous improvement [1] Group 3: Strategic Implications - The acquisition of this important qualification demonstrates the company's determination to enhance its quality management system and indicates that it has reached international standards in medical device quality management, risk control, and compliance operations [1] - This certification lays a solid foundation for the company to further expand into international markets [1]

Core Viewpoint - The company has received ISO 13485:2016/EN ISO 13485:2016 certification for its medical device quality management system, indicating compliance with international standards in the medical device industry [1] Group 1: Certification Details - The certification was issued by DEKRA, a leading independent certification body established in 1925, covering a wide range of industry sectors [1] - The certification encompasses the entire process of design, development, production, and sales of intraocular lenses for cataract and presbyopia patients [1] Group 2: Importance of Certification - ISO 13485 is recognized by global medical device regulatory bodies such as China's NMPA, the EU's CE, and the US FDA, focusing on patient-centered risk management and quality control throughout the product lifecycle [1] - Achieving this certification demonstrates the company's commitment to enhancing its quality management system and signifies its capability in medical device quality management, risk control, and compliance operations at an international standard [1] Group 3: Market Implications - The acquisition of this important qualification lays a solid foundation for the company to further expand into international markets [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Gaush Meditech Ltd 高視醫療科技有限公司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 責 任 公 司 ） （股 份 代 號：2407） ISO 13485是國際標準化組織（「ISO」）發佈的醫療器械行業專用質量管理體系標 準，聚焦「以患者為中心」的風險管理與全流程質量控制，是全球醫療器械監管 機構（如中國NMPA、歐盟CE、美國FDA等）認可的核心合規性依據。通過該認 證，意味著企業建立了覆蓋設計開發、生產、檢驗、售後等產品全生命週期的 質量管理體系，確保產品符合法規要求並持續改進。 – 1 – 本次重要資質的獲得，顯示了本公司努力提高質量管理體系的決心，且標誌著 本公司在醫療器械質量管理、風險控制及合規運營領域已達到國際標準的實力， 更為本公司進一步開拓國際市場奠定了堅實基礎。 本公司股東及潛在投資者於買賣本公司股份時務請審慎行事。 本公司董事（「董事」）會（「董事會」）欣然 ...

Core Insights - The company achieved a total operating revenue of 653 million yuan in H1 2025, representing a year-on-year growth of 1.72%, and a net profit attributable to shareholders of 38 million yuan, with a year-on-year increase of 33.37% [1] - The gross profit margin increased by 1.86 percentage points, indicating improved profitability [1] Revenue Breakdown - Revenue from proprietary products reached 203 million yuan, up 14.04% year-on-year, accounting for 31.09% of total revenue, an increase of 3.36 percentage points [1] - Revenue from self-produced artificial crystals contributed 171 million yuan, growing by 11.4% year-on-year, driven by national procurement policies and stable growth in overseas markets [1] - Revenue from distribution products was 327 million yuan, down 6.81% year-on-year, making up 50.09% of total revenue [1] Technical Services Performance - The technical services business showed steady growth, with revenue of 119 million yuan in H1 2025, an increase of 8.26% year-on-year, and accounting for 18.24% of total revenue, up 1.10 percentage points [1] - The company has a technical service team of 135 engineers in the Greater China region, serving nearly 14,000 clients across 13 service centers [1] R&D Investment - The company has 252 R&D personnel, representing approximately 28.0% of total employees, with R&D bases in Shenzhen, Suzhou, Wuxi, and Wenzhou domestically, and in the Netherlands and Germany internationally [2] - R&D expenditure for H1 2025 was 43.4 million yuan, a year-on-year increase of 23.6%, accounting for 21.4% of proprietary product revenue [2] Future Projections - Revenue projections for 2025-2027 are 1.564 billion, 1.715 billion, and 1.875 billion yuan, with year-on-year growth rates of 9.48%, 9.67%, and 9.33% respectively [2] - Net profit projections for the same period are 135 million, 180 million, and 214 million yuan, with year-on-year growth rates of 45.85%, 33.71%, and 18.99% respectively [2]

Gaush Meditech Ltd 高視醫療科技有限公司 (Incorporated in the Cayman Islands with limited liability) （ 於 開 曼 群 島 註 冊 成 立 的 有 限 責 任 公 司 ） (Stock Code: 2407) （股 份 代 號：2407） NOTIFICATION LETTER 通知信函 Dear Registered Shareholders: 25 September 2025 Gaush Meditech Ltd (the "Company") – Notice of publication of Interim Report 2025 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at www.gaush.com and the websit ...

Gaush Meditech Ltd 高視醫療科技有限公司 (Incorporated in the Cayman Islands with limited liability) （ 於 開 曼 群 島 註 冊 成 立 的 有 限 責 任 公 司 ） Gaush Meditech Ltd (the "Company") — Notification of publication of Interim Report 2025 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communications are available on the Company's website at www.gaush.com and the website of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") at www.hkexnews.hk respectively (the ...

Financial Performance - The company's revenue for the six months ended June 30, 2025, was RMB 653.1 million, an increase of 1.7% compared to RMB 642.0 million for the same period in 2024[11]. - The net profit for the same period was RMB 35.9 million, representing a 33.5% increase from RMB 26.9 million in 2024[11]. - Basic earnings per share for the six months ended June 30, 2025, were RMB 0.26, up from RMB 0.19 in 2024[11]. - The group's total revenue increased by 1.7% from RMB 642.0 million for the six months ended June 30, 2024, to RMB 653.1 million for the six months ended June 30, 2025[28]. - Gross profit for the same period was RMB 315,664,000, compared to RMB 298,353,000 in 2024, reflecting a growth of about 5.79%[93]. - The total comprehensive income for the period was RMB 135,868,000, significantly higher than RMB 7,110,000 in 2024, showing a substantial increase[94]. - The company achieved a net profit of RMB 35,894,000 for the six months ended June 30, 2025, up from RMB 26,928,000 in 2024, indicating an increase of approximately 33.1%[93]. Research and Development - Research and development expenses for the six months ended June 30, 2025, were RMB 43.4 million, a 23.6% increase from RMB 35.1 million in 2024, accounting for 6.6% of total revenue[11]. - Significant advancements in R&D include the registration of the T3-600 and T3-400 corneal confocal microscopes and the launch approval of a fundus camera in 2025[13]. - The group has a total of 252 R&D personnel, accounting for approximately 28.0% of total employees, with R&D expenses amounting to RMB 43.4 million, a year-on-year increase of 23.6%[19]. - The group aims to enhance its product revenue structure by increasing R&D investment, particularly in high-end ophthalmic medical devices[26]. - The group has established a "4+2" global R&D layout, with domestic bases located in Shenzhen, Suzhou, Wuxi, and Wenzhou, and overseas bases in the Netherlands and Germany[19]. Product and Market Development - The company has a product portfolio of 165 items, including 72 proprietary products, with a focus on expanding its proprietary product offerings[13]. - Revenue contribution from proprietary products was RMB 203.0 million, accounting for 38.3% of total sales, up from 33.6% in the same period of 2024[15]. - Revenue from distribution products was RMB 327.1 million, a decrease of 6.8% year-on-year[17]. - The company has established exclusive distribution agreements with 15 overseas brand partners, including Heidelberg and Quantel Medical[13]. - The group’s products have been sold in 51 countries and regions, with a focus on expanding its international market presence[24]. Financial Management - Financing costs decreased significantly by 49.0% from RMB 20.6 million to RMB 10.5 million, attributed to the repayment of bank loans and a decrease in interest rates[35]. - The debt-to-asset ratio decreased from 34.8% as of December 31, 2024, to 28.0% as of June 30, 2025, indicating improved financial stability[53]. - The company reported a foreign exchange gain of RMB 100.0 million for the six months ended June 30, 2025, primarily due to fluctuations in the euro exchange rate during the reporting period[56]. - The company has maintained a leverage ratio not exceeding 3.50:1, with an interest coverage ratio of no less than 4.00:1 as of June 30, 2025[136]. Operational Efficiency - Selling and distribution expenses remained relatively stable, increasing by 0.1% from RMB 115.5 million to RMB 115.6 million, with the percentage of these expenses to revenue decreasing from 18.0% to 17.7%[33]. - Administrative expenses rose by 15.9% from RMB 73.6 million to RMB 85.3 million, mainly due to the expansion of the management team in the R&D sector[34]. - The total employee cost for the reporting period was RMB 192.1 million, an increase from RMB 184.0 million for the same period in 2024, with a total of 819 employees as of June 30, 2025, down from 884 employees at the end of 2024[62]. Corporate Governance - The audit committee consists of two independent non-executive directors and one non-executive director, overseeing financial reporting and risk management[70]. - Major shareholders include GT HoldCo with 63,263,528 shares, representing 42.78% of the issued share capital[76]. - The company has complied with all applicable corporate governance codes during the reporting period[66]. - The company continues to review and monitor its corporate governance practices to ensure compliance[67]. Cash Flow and Assets - As of June 30, 2025, the company maintained a cash and cash equivalents balance of RMB 323.2 million, a decrease of 23.3% from RMB 421.4 million as of December 31, 2024, mainly due to loan repayments totaling approximately RMB 149.7 million during the reporting period[50]. - The company's capital expenditure for the six months ended June 30, 2025, was RMB 12.7 million, compared to RMB 10.2 million for the same period in 2024, primarily for purchasing production equipment for self-developed products[52]. - Total liabilities decreased to RMB 462,434,000 as of June 30, 2025, from RMB 466,310,000 at the end of 2024, a reduction of 0.62%[97]. - The company reported a decrease in cash and cash equivalents to RMB 323,187,000 as of June 30, 2025, down from RMB 421,438,000 at the end of 2024, a decline of 23.36%[96]. Acquisitions and Investments - The company acquired 100% of the Korean artificial crystal business for a total consideration of RMB 1,852,000, with an initial payment of RMB 1,852,000 made at the acquisition date[139][141]. - Revenue from the Korean artificial crystal business from the acquisition date to June 30, 2025, was RMB 1,825,000, with a profit of RMB 1,232,000 during the same period[145]. - The identifiable net assets of the acquired Korean artificial crystal business amounted to RMB 1,004,000, with goodwill generated from the acquisition totaling RMB 848,000[142]. Shareholder Information - The total issued shares remained at 147,887,869 as of June 30, 2025, unchanged from the previous reporting period[138]. - The proposed final dividend for the year ended December 31, 2024, is HKD 0.30 per ordinary share, as announced at the annual general meeting on May 29, 2025[121]. - No interim dividend is recommended for the six months ending June 30, 2025, consistent with the previous period[69].