Core Viewpoint - The stocks of the MicroPort group have collectively risen, driven by the announcement of a restructuring in the cardiac rhythm management business, which aims to alleviate pressure related to meeting listing standards [1] Group 1: Stock Performance - MicroPort Medical (00853) increased by 8.47%, reaching HKD 14.21 [1] - HeartLink Medical-B (02160) rose by 4.55%, reaching HKD 1.38 [1] - MicroPort Robotics-B (02252) saw a 4.28% increase, reaching HKD 28.26 [1] - MicroPort Neuroscience (02172) grew by 2.88%, reaching HKD 12.52 [1] Group 2: Business Restructuring - MicroPort Medical announced the restructuring of its cardiac rhythm management business, with a subsidiary, MicroPort HeartLink, planning to merge with CRM Cayman [1] - Post-merger, CRM Cayman will become a wholly-owned subsidiary of MicroPort HeartLink, focusing on solutions for arrhythmia management, with a pre-transaction equity value of USD 680 million [1] - MicroPort Medical currently holds a 46.12% stake in HeartLink Medical and a 50.13% stake in CRM Cayman [1] Group 3: Strategic Intent - The restructuring is seen as a strategy to mitigate the pressure of meeting the "qualified listing" requirements for the cardiac rhythm management business [1] - In July 2021, Hillhouse Capital, along with CPE and Springhill, invested USD 300 million in MicroPort's cardiac rhythm management subsidiary, acquiring a 26.3% stake [1] - An agreement was made that if CRM does not achieve a qualified listing and a market value of at least USD 1.5 billion by July 17, 2025, MicroPort must repurchase all shares at an annualized return of 8% [1]

Group 1 - The core point of the announcement is that MicroPort Medical (00853) has entered into a merger agreement to acquire CRM Cayman, which will become a wholly-owned subsidiary of MicroPort CardioFlow upon the merger's effectiveness [1][2] - The acquisition price is set at HKD 1.35 per share for the shareholders of CRM Cayman, including its indirect wholly-owned subsidiary, MicroPort International Corp. Limited [1] - Following the merger, CRM Cayman and its subsidiaries will continue to operate as subsidiaries of MicroPort CardioFlow, enhancing the company's overall structure [1] Group 2 - The merger aligns with MicroPort CardioFlow's strategic development goals, aiming to establish a globally positioned cardiac product platform [2] - This strategic move is expected to diversify MicroPort CardioFlow's product offerings and pipelines, leading to complementary synergies [2] - The anticipated synergies will enhance MicroPort CardioFlow's capabilities in structural heart disease and cardiac rhythm disease solutions, including R&D, manufacturing, distribution channels, and market expansion [2]