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，概不就因本公告全部或任何部分內容所產生或 因依賴該等內容而引致的任何損失承擔任何責任。 Peijia Medical Limited 沛嘉醫療有限公司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股 份 代 號：9996） 自願性公告 截至2025年12月31日止年度的未經審核營運數據 本公告由沛嘉醫療有限公司（「本公司」，連同其附屬公司統稱「本集團」）自願 刊發，以向本公司股東及潛在投資者提供有關本集團最新業務及產品開發進 展的最新資料。 本公司董事（「董事」）會（「董事會」）欣然宣佈本集團截至2025年12月31日止年度 （「報告期間」）的若干未經審核營運數據及比較數據載列如下。 1月1日至12月31日期間 | 2025年 | 2024年 | 變動 | | --- | --- | --- | | 人民幣百萬元 | 人民幣百萬元 | % | – 1 – 神經介入所有三大產品線均錄得穩健的收入增長，反映其各自核心產品的強 勁表現。主要驅動因素概述如下： 於報告期間，本 ...

Core Viewpoint - Medtronic announced a strategic investment of up to $90 million (approximately 630 million RMB) in Anteris Technologies, acquiring a 16.0%–19.99% stake and gaining specific negotiation rights for future third-party acquisition proposals [2][3] Group 1: Investment Details - The investment will be executed through a directed share issuance, allowing Medtronic to hold a significant minority stake in Anteris [2] - This investment is seen as a strategic move in the competitive TAVR (Transcatheter Aortic Valve Replacement) market, reflecting a long-term positioning rather than an immediate acquisition [2][3] Group 2: Negotiation Background - The negotiation process between Medtronic and Anteris lasted approximately two and a half years, initially aiming for a direct acquisition but shifting to investment due to regulatory uncertainties in the structural heart disease sector [3] - Recent regulatory challenges faced by other companies, such as Edwards Lifesciences' failed acquisition of JenaValve, have increased the uncertainty surrounding large mergers in the TAVR space [3] Group 3: Anteris' Core Asset - Anteris' key product is the DurAVR transcatheter aortic valve (THV), designed to mimic the natural opening and closing of a healthy aortic valve rather than merely replacing a diseased one [4] - The DurAVR valve features a unique single-piece biomimetic structure, differentiating it from competitors that typically use stitched leaflets [6] Group 4: Technological Innovations - The DurAVR employs the proprietary ADAPT anti-calcification technology, which has shown no calcification over a 10-year application period and has been used in approximately 55,000 patients globally [7] - The valve's stent structure is optimized for coronary access and hemodynamics, addressing common clinical concerns such as paravalvular leak and coronary obstruction risks [8] Group 5: Clinical Progress - The first ViV (valve-in-valve) procedure using DurAVR was successfully performed in July 2023, demonstrating a significant reduction in mean pressure gradient post-operation [9][10] - Anteris is advancing a global pivotal clinical trial for DurAVR targeting severe aortic stenosis patients, which is a critical factor in Medtronic's investment decision [10] Group 6: Strategic Implications for Medtronic - Medtronic views this investment as a "directional asset," focusing on long-term innovation rather than immediate financial returns [12] - The investment aligns with Medtronic's strategy to enhance its portfolio in the TAVR space, supporting differentiated innovations that improve valve performance [12] Group 7: Industry Context - The investment signals a shift in the TAVR industry towards structural diversification, as companies seek to innovate beyond existing product lines amid growing surgical volumes and accumulating long-term data [13] - Medtronic's approach reflects a cautious yet clear strategy to engage with cutting-edge innovations while navigating regulatory and competitive challenges [13][14]