Core Insights - The company reported strong performance in its cardiovascular business and improvements in its health protection segment, showcasing resilience and growth potential [1] Group 1: Cardiovascular Business Performance - The cardiovascular division continued to be profitable, achieving over 1 billion yuan in revenue for the first three quarters of 2025, representing a growth of over 20% year-on-year [2] - Sales revenue increased across three major regions: China, Europe and emerging markets, and Asia-Pacific [2] - The launch of the new generation of the transcatheter aortic valve replacement (TAVR) system, certified by the EU in June 2025, led to a historical sales peak for the valve product line, with a year-on-year increase of 98% [2] Group 2: Health Protection Business and Cash Flow - The company reported a significant improvement in cash flow, with a net operating cash flow of 227 million yuan for the first three quarters of 2025, marking a substantial increase of 428.78% compared to the same period last year [3] - The health protection division has optimized production capacity and order strategies in response to changes in international trade, leading to a reduction in losses and improved gross margins in the third quarter [3] - The health protection segment is showing signs of stabilization and positive development, laying the groundwork for future recovery [3]