微电生理(688351) - 2025 Q2 - 季度财报

` Definition of Terms This section defines common terms used in the report, including company names, related parties, key industry competitors, and critical medical technology terms, ensuring accuracy and consistency in reading the report - Company Abbreviation: Everpace Medical[10] - Reporting Period: First half of 2025[10] - Complete Solution for 3D Cardiac Electrophysiology Equipment and Consumables: A comprehensive solution covering all necessary equipment and consumables for 3D cardiac electrophysiology procedures, including 3D electrophysiology mapping systems, mapping catheters, 3D radiofrequency ablation catheters, radiofrequency ablation generators, irrigation pumps, and guiding sheaths[10] - PFA (Pulsed Field Ablation): A technique that applies short-duration, high-voltage pulsed electric fields to target tissue, disrupting cell lipid bilayers to form irreversible micropores, ultimately leading to cell apoptosis or necrosis, thereby ablating abnormal myocardial tissue and blocking abnormal electrical signal conduction[11] Company Profile and Key Financial Indicators This section provides an overview of the company's basic information and key financial performance for the first half of 2025 I. Company Basic Information This section introduces the company's basic information, including its Chinese name, abbreviation, legal representative, registered address, office address, website, and email address - Company Chinese Name: Shanghai MicroPort EP Medical Technology Co., Ltd[13] - Legal Representative: YIYONG SUN[13] - Company Website: www.everpace.com[13](index=13&type=chunk) II. Contact Person and Contact Information This section provides contact information for the company's Board Secretary and Securities Affairs Representative, including name, address, phone, fax, and email - Board Secretary: Zhu Yu[14] - Contact Number: 021-60969600-53608[15] - Email: investors@everpace.com[15] III. Information Disclosure and Location Change Brief This section discloses the company's selected newspapers for information disclosure, the website address for semi-annual reports, and the location where reports are kept - Company's Selected Newspapers for Information Disclosure: China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily[16] - Website Address for Semi-Annual Reports: www.sse.com.cn[16](index=16&type=chunk) IV. Company Stock/Depositary Receipt Summary This section introduces the listing exchange, stock abbreviation, and stock code for the company's A-shares - Stock Type: A-shares[17] - Stock Exchange and Board: Shanghai Stock Exchange STAR Market[17] - Stock Code: 688351[17] VI. Company's Key Accounting Data and Financial Indicators This section outlines the company's key accounting data and financial indicators for the first half of 2025, showing significant growth in operating revenue, total profit, and net profit, especially a substantial increase in net profit after deducting non-recurring gains and losses 2025 First Half Key Accounting Data and Financial Indicators | Indicator | Current Period (Jan-Jun) (RMB) | Prior Year Period (RMB) | Period-over-Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 223,748,530.83 | 198,364,587.44 | 12.80 | | Total Profit | 32,816,628.64 | 17,032,732.92 | 92.67 | | Net Profit Attributable to Shareholders of Listed Company | 32,668,127.26 | 17,012,670.68 | 92.02 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 20,806,323.47 | 921,677.69 | 2,157.44 | | Net Cash Flow from Operating Activities | 64,366,377.38 | 37,921,452.48 | 69.74 | | Basic Earnings Per Share (RMB/share) | 0.0694 | 0.0362 | 91.71 | | Basic Earnings Per Share After Deducting Non-Recurring Gains and Losses (RMB/share) | 0.0442 | 0.0020 | 2,110.00 | | R&D Investment as % of Operating Revenue | 20.64 | 22.56 | Decrease of 1.92 percentage points | - Total profit, net profit attributable to shareholders of the listed company, net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses, basic earnings per share, diluted earnings per share, and net cash flow from operating activities all significantly increased compared to the same period last year, primarily due to sales scale growth and profit growth from cost reduction and efficiency improvement during the reporting period[21] VIII. Non-Recurring Gains and Losses Items and Amounts This section details the company's non-recurring gains and losses items and their amounts for the first half of 2025, with an explanation for the one-time recognition of share-based payment expenses 2025 First Half Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (RMB) | | :--- | :--- | | Gains and losses from disposal of non-current assets, including the reversal of impairment provisions for assets | 726,244.50 | | Government subsidies recognized in current profit and loss, excluding those closely related to the company's normal business operations, compliant with national policies, enjoyed according to fixed standards, and having a continuous impact on the company's profit and loss | 5,757,847.08 | | Gains and losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains and losses from disposal of financial assets and liabilities, excluding effective hedging activities related to the company's normal business operations | 9,866,334.97 | | Other non-operating income and expenses apart from the above items | -2,154,072.97 | | Other profit and loss items that meet the definition of non-recurring gains and losses (one-time recognized share-based payment expenses) | -2,334,549.79 | | Total | 11,861,803.79 | - One-time recognized share-based payment expenses (RMB -2,334,549.79) are classified as non-recurring gains and losses because if shares are immediately granted or transferred without explicit vesting periods or other restrictions, share-based payment expenses should generally be recognized in the period of occurrence as an incidental item and included in non-recurring gains and losses[25] Management Discussion and Analysis This section provides a comprehensive discussion and analysis of the company's operations, financial performance, core competitiveness, and risk factors during the reporting period I. Industry and Main Business Overview during the Reporting Period This section elaborates on the company's industry positioning, main business, and market prospects in the field of electrophysiology interventional diagnosis and ablation therapy, highlighting its status as the first domestic manufacturer to provide a complete solution for 3D cardiac electrophysiology equipment and consumables, and noting that population aging will drive increased demand in the electrophysiology market - The company primarily engages in the research, development, production, and sales of innovative medical devices in the field of electrophysiology interventional diagnosis and ablation therapy[27] - The company is one of the few manufacturers in the global market with a complete product line for both electrophysiology equipment and consumables, and the first domestic manufacturer capable of providing a complete solution for 3D cardiac electrophysiology equipment and consumables[27] - As of the end of 2024, China's elderly population aged 65 and above reached 220 million, accounting for 15.6% of the total population, with population aging expected to further increase the number of atrial fibrillation patients, leading to a rapid increase in demand for the electrophysiology market[28] - In 2023, China had 11.132 million hospitalized patients with arrhythmias, with approximately 347,000 ablation procedures performed for various arrhythmias, including 338,000 interventional catheter ablations, and 147,000 ablation procedures for atrial tachycardia/atrial flutter/atrial fibrillation[29] II. Discussion and Analysis of Operations During the reporting period, the company focused on advantageous products, accelerated international expansion, and deepened budget control, achieving steady growth in operating revenue and net profit attributable to the parent company. Clinical recognition of core domestic products improved, especially with significant breakthroughs in atrial fibrillation treatment, while multi-technology routes synergistically advanced, showcasing innovative achievements on the international stage. The company continued