InMode (INMD) 2025 Conference June 04, 2025 03:10 PM ET Speaker0 Let me kick off this session with InMode. I'm Matt Taylor, the US medical supplies and devices analyst here at Jefferies. And from InMode, have Moshe Masrahi, the CEO joining us here virtually on the screen. And also Yair Melka, the CFO here next to me. So we have about a half hour for some moderated Q and A and maybe we'll go back and forth a little bit. Moshe, let me start high level with you and talk a little bit about just the company. I w ...

Core Viewpoint - Qiming Medical-B (02500) reported a significant decline in revenue and continued losses in its 2024 annual report, indicating ongoing challenges in the micro-invasive medical device market for heart valve diseases [3]. Financial Performance - The company achieved total revenue of 509 million yuan, a year-on-year decrease of 30.51% [3]. - The net profit attributable to shareholders was a loss of 714 million yuan, compared to a loss of 704 million yuan in the same period last year [3]. - The net cash flow from operating activities was 23.739 million yuan, an improvement from a negative 610 million yuan in the previous year [3]. - Basic earnings per share were -1.63 yuan, with a weighted average return on equity of -27.5%, down 6.11 percentage points from the previous year [3][23]. Valuation Metrics - As of April 29, the price-to-book ratio (TTM) for Qiming Medical-B was approximately 0.47 times, and the price-to-sales ratio (TTM) was about 2.23 times [3]. Revenue Composition - In 2024, the revenue from medical device sales was 470.8 million yuan, with the VenusA series products contributing 409.7 million yuan and VenusP-Valve contributing 76.4 million yuan [17][19]. Cash Flow Analysis - The net cash flow from financing activities was -487 million yuan, a decrease of 313 million yuan year-on-year [27]. - The net cash flow from investment activities was -19.898 million yuan, compared to -347 million yuan in the previous year [27]. Asset and Liability Changes - As of the end of 2024, cash and cash equivalents decreased by 67.11%, while goodwill increased by 1.49% [36]. - Short-term borrowings decreased by 96.17%, while long-term borrowings increased by 6.64% [39]. - The current ratio was 2.22, and the quick ratio was 1.95 [42].

近日，开创微创胃肠道护理的临床阶段医疗器械公司 Averto Medical 宣布，美国FDA已授予其 ColoSeal™ 腔内结肠分流术 （ICD） 系统 突破性器械认 定。 ColoSeal™ ICD 旨在为临时造口术提供微创替代方案，促进患者康复并减少与传统手术方法相关的并发症。 01 ColoSeal™ 腔内结肠分流术系统 ColoSeal™ 腔内结肠分流术（Intracolonic Bypass, ICD）系统是一种创新的医疗设备，旨在为接受结肠手术的患者提供临时的粪便分流解决方案，以减少术后并发 症并促进愈合。 该系统通过创建一个临时的腔内分流，避免粪便通过手术部位，从而降低感染和吻合口漏的风险。 核心技术与工作原理 通过避免 粪便通过手术部位，ColoSeal™ ICD系统显著降低了术后感染和吻合口漏的风险，这些是结肠手术后常见的严重并发症。 适用人群包括接受结肠手术的患者，特别是那些进行结肠切除、吻合术或其他涉及结肠的手术的患者。 02 相关研究 Averto Medical 已经开展 一项前瞻性、多中心研究来评估ColoSeal ICD系统的安全性和可行性。ColoSeal ICD系统旨在用 ...