归创通桥（02190）发盈喜后一度涨超5%，截至发稿，现涨幅收窄，股价上涨1.78%，报24.06港元，成 交额802.31万港元。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 1月29日，归创通桥发布2025年全年业绩正面盈利预告。公司预期2025年全年净利润超过人民币2.4亿 元，较去年同期大幅增长约139.4%；营业收入超过人民币10.5亿元，同比增长约34.6%。 归创通桥表示，2025年公司业绩表现亮眼，主要受益于核心产品销售的强劲增长、海外业务的加速发展 以及运营效率的持续优化。报告期内，公司通桥麒麟™血流导向装置、神经血管导丝、UltraFree®药物 洗脱PTA球囊扩张导管、ZYLOX Swan®静脉腔内射频闭合导管等产品销售收入均实现较快增长。国际 业务方面，公司海外市场销售收入同比增长超过100%，在德国、法国、意大利等重点国家市场的渗透 率持续提升。 责任编辑：卢昱君 1月29日，归创通桥发布2025年全年业绩正面盈利预告。公司预期2025年全年净利润超过人民币2.4亿 元，较去年同期大幅增长约139 ...

同期，公司国际化战略实现关键突破，海外市场拓展全面提速。截至2025年底，公司销售渠道已覆盖全 球83个国家与地区，并与超过80家海外合作伙伴建立战略合作关系。2026年1月，公司宣布战略收购德 国Optimed公司，进一步拓展在欧洲及全球市场的布局，加快创新产品在国际市场的推广与落地；同时 依托中、德两大生产基地之间的协同效应，持续提升全球化运营与交付能力。 归创通桥表示，2025年公司业绩表现亮眼，主要受益于核心产品销售的强劲增长、海外业务的加速发展 以及运营效率的持续优化。报告期内，公司通桥麒麟™血流导向装置、神经血管导丝、UltraFree药物洗 脱PTA球囊扩张导管、ZYLOX Swan静脉腔内射频闭合导管等产品销售收入均实现较快增长。国际业务 方面，公司海外市场销售收入同比增长超过100%，在德国、法国、意大利等重点国家市场的渗透率持 续提升。 智通财经APP获悉，归创通桥(02190)盈喜后涨超5%，截至发稿，涨4.06%，报24.46港元，成交额433.55 万港元。 消息面上，1月29日，归创通桥发布2025年全年业绩正面盈利预告。公司预期2025年全年净利润超过人 民币2.4亿元，较去年同 ...

2025年，归创通桥以"创新"与"国际化"为核心战略，持续推动业务布局与升级。报告期内，公司多款重 点创新产品相继获批上市。ZYLOX Mammoth大腔™外周血栓抽吸导管、通桥飞龙™颅内动脉瘤栓塞辅 助支架等产品实现商业化落地，并取得积极的市场表现。此外，公司持续完善创新产品管线，颈动脉双 层密网支架、自膨式动脉瘤瘤内栓塞器获国家药品监督管理局创新医疗器械认定，进入审批"绿色通 道"。 展望未来，归创通桥将继续秉持"为生命 恒创新"的理念，持续加大在医疗科技领域的研发与投入，加 速推进国际化战略布局，为全球患者带来高质量且可负担的创新产品与解决方案，并持续提升公司的长 期价值，为股东创造可持续回报。 归创通桥表示，2025年公司业绩表现亮眼，主要受益于核心产品销售的强劲增长、海外业务的加速发展 以及运营效率的持续优化。报告期内，公司通桥麒麟™血流导向装置、神经血管导丝、UltraFree®药物 洗脱PTA球囊扩张导管、ZYLOX Swan®静脉腔内射频闭合导管等产品销售收入均实现较快增长。国际 业务方面，公司海外市场销售收入同比增长超过100%，在德国、法国、意大利等重点国家市场的渗透 率持续提升。此外，在 ...

Core Viewpoint - Guichuang Tongqiao Medical Technology Co., Ltd. (2190.HK) anticipates a significant increase in its 2025 annual net profit, projecting over RMB 240 million, a year-on-year growth of approximately 139.4%, alongside an expected revenue exceeding RMB 1.05 billion, reflecting a year-on-year increase of about 34.6% [1][2] Group 1: Financial Performance - The company expects a net profit exceeding RMB 240 million for 2025, marking a substantial increase of approximately 139.4% compared to the previous year [1] - Projected revenue for 2025 is over RMB 1.05 billion, representing a year-on-year growth of around 34.6% [1] - The strong performance is attributed to robust sales growth of core products, accelerated overseas business development, and ongoing operational efficiency improvements [1] Group 2: Product and Market Development - Key products such as Tongqiao Qilin™ blood flow guiding device and UltraFree® drug-eluting PTA balloon dilation catheter have shown rapid sales growth [1] - The international business saw sales revenue increase by over 100% year-on-year, with improved market penetration in Germany, France, and Italy [1] - Several innovative products received approval for commercialization, including ZYLOX Mammoth large lumen™ peripheral thrombectomy catheter and Tongqiao Feilong™ intracranial aneurysm embolization assist stent [2] Group 3: Strategic Initiatives - The company is focusing on "innovation" and "internationalization" as core strategies to drive business layout and upgrades [2] - By the end of 2025, the company’s sales channels will cover 83 countries and regions globally, establishing strategic partnerships with over 80 overseas partners [2] - A strategic acquisition of German company Optimed was announced to enhance the company's presence in Europe and globally, facilitating the promotion of innovative products in international markets [2]

Core Viewpoint - The Hong Kong pharmaceutical industry has experienced a strong rebound since 2025, with the Hang Seng Healthcare Index showing a cumulative increase of over 100% this year, indicating heightened market interest in the sector [1][3]. Industry Overview - The recent market sentiment is driven by a collective anticipation of an industry turning point rather than mere valuation recovery. The optimization of centralized procurement policies and ongoing government support for innovative product development and high-end medical device exports are reshaping the competitive landscape of the innovative medical device sector [3][4]. - Companies that achieve profitability breakthroughs first will gain a competitive edge, accelerating growth through a virtuous cycle of increased operational efficiency and reinvestment in innovation [3][4]. Company Performance - Guichuang Tongqiao reported impressive mid-year results for 2025, with revenue reaching 482 million RMB, a year-on-year increase of 31.7%, and net profit exceeding 121 million RMB, up 76.0%, achieving a net profit margin of 25.1% [5][6]. - Compared to peers, Guichuang Tongqiao's growth momentum positions it in the leading tier of high-value innovative medical device companies, reflecting its strong market competitiveness and efficient profit model [5][7]. Key Growth Drivers - The significant increase in profitability is attributed to two main factors: the rising sales of neuro-interventional and peripheral interventional products, which generated revenues of 304 million RMB (up 25.0%) and 176 million RMB (up 46.2%) respectively [7][8]. - The company has focused on cost control and operational efficiency, resulting in a 7 percentage point decrease in sales, R&D, and administrative expense ratios [8]. Strategic Initiatives - Guichuang Tongqiao announced its first cash dividend since its listing, amounting to 32.47 million RMB, reflecting confidence in its profitability and cash flow [9][10]. - The company became the first high-value consumable medical device company to successfully transition from the 18A to the B-share market, indicating its recognized profitability and growth potential [10]. Innovation and Global Expansion - The company has a robust product pipeline with 73 products, 50 of which have been launched in China, and a sales network covering over 3,000 hospitals [11]. - Recent product approvals, such as the ZYLOX Mammoth and ZYLOX Pantheris, are expected to fill market gaps and drive new growth [13]. - Guichuang Tongqiao's overseas revenue reached 15.72 million RMB, with 22 products commercialized in 27 countries, indicating a strong global presence [13][14]. Market Outlook - The medical device industry is evolving towards normalized centralized procurement, accelerated internationalization, and innovation-driven value [17]. - Market analysts have responded positively, with several institutions raising their ratings and target prices for Guichuang Tongqiao, reflecting confidence in its strategic direction and execution [17].