Financial Performance - In the first half of 2025, the company achieved revenue of 240 million (up 12.53% year-on-year), net profit attributable to shareholders of 14 million (up 296.54%), and net profit excluding non-recurring items of 8 million (up 163.35%) [1] - In Q2 2025, the company reported revenue of 140 million (up 13.86%), net profit attributable to shareholders of 11 million (up 110.56%), and net profit excluding non-recurring items of 7 million (up 42.83%) [1] Product Development and Market Expansion - The company is successfully advancing its coronary intervention consumables both domestically and internationally, with steady sales growth in coronary stents and balloons participating in national and provincial procurement [2] - As of August 22, 2025, the second round of volume-based procurement for coronary stents has been executed in most provinces, and the company has completed follow-up procurement for coronary balloons in most regions [2] - The company’s coronary drug-eluting stent system has received overseas registration in countries such as Argentina, Ecuador, and Vietnam, while its coronary balloon products have been registered in Kyrgyzstan, Peru, and Malaysia, expanding its international sales footprint [2] Regulatory Approvals and Innovations - The company received FDA notification for its self-expanding drug-coated intracranial stent system and COMEX balloon microcatheter, which have been granted Breakthrough Device Designation, marking a significant milestone as the first product of its kind for treating intracranial atherosclerosis [3] - The company’s subsidiary has also developed a flow-directed mesh stent that received medical device registration in China and is under CE registration review in Europe [3] Profit Forecast and Investment Rating - Due to increased expenses for new product promotion and R&D, the company has revised its net profit forecasts for 2025-2026 down to 31 million and 58 million respectively, with an expected net profit of 80 million for 2027 [3] - The corresponding PE ratios based on current market capitalization are projected to be 433, 234, and 170 times for the respective years, maintaining a "buy" rating considering the anticipated domestic launch of the intracranial self-expanding drug-coated stent [3]