Core Viewpoint - MicroPort Medical's major shareholder, Otsuka Medical Devices, is selling 15.71% of its 20.70% stake, leading to a significant change in the company's ownership structure and governance [1][2]. Group 1: Shareholder Changes - Otsuka Medical Devices will reduce its stake to below 5%, exiting as the largest shareholder, while We'Tron Capital Limited will become the new largest shareholder with over 26% ownership [1]. - The transaction introduces state-owned investors, which may enhance the company's core business expansion and governance [2]. Group 2: Business Developments - MicroPort Medical is proposing a merger of its CRM business with the publicly listed company, HeartLink Medical, to create a comprehensive cardiac product platform and improve international marketing channels [2]. - The IPO for the CRM business is expected to raise at least $150 million, with a market valuation of no less than $1.5 billion [2]. Group 3: Financial Performance - For the first half of 2025, MicroPort Medical reported a revenue decline of no more than 4% (excluding currency effects) and a loss of $107 million, which is within the promised limit of $110 million [3]. - The company aims to achieve a profit of $52 million in the second half of 2025 to meet its convertible bond financing agreement requirements [3]. - Revenue projections for 2025-2027 are estimated at $1.193 billion, $1.393 billion, and $1.595 billion, with net profits of -$48 million, $83 million, and $159 million respectively [3].
微创医疗(00853.HK)：国资入局、核心股东调整 发展前景值得期待