通桥麒麟血流导向密网支架

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归创通桥:上半年净利润同比增长76%
Zhong Zheng Wang· 2025-08-20 08:22
Core Viewpoint - Guichuang Tongqiao reported strong financial performance for the first half of 2025, with significant growth in both revenue and net profit, driven by the expansion of its neurovascular and peripheral vascular intervention businesses [1][2]. Financial Performance - The company achieved operating revenue of 482 million yuan, a year-on-year increase of 31.7% [1]. - Net profit reached 121 million yuan, reflecting a year-on-year growth of 76.0% [1]. - The neurovascular intervention business generated approximately 304 million yuan in revenue, up 25.0% year-on-year, while the peripheral vascular intervention business saw revenue of about 176 million yuan, a 46.2% increase [1]. Operational Efficiency - The company improved operational efficiency, with research and development, sales, and management expense ratios decreasing by 7 percentage points compared to the same period last year [1]. - The company has established a wide distribution network covering over 3,000 hospitals [2]. International Business Growth - Guichuang Tongqiao's overseas business showed rapid growth, achieving operating revenue of 15.72 million yuan [1]. - The company has 22 products commercialized in 27 countries and regions, with over 31 products in the registration process across 23 countries [1]. - The overseas revenue proportion is steadily increasing, becoming a new growth driver for the company [1]. Product Development and Innovation - The company has a product pipeline of 73 items, with 50 approved by the National Medical Products Administration (NMPA) [2]. - New products launched this year include the ZYLOX Eagle thrombectomy system and the Tongqiao Shunfeng balloon hemostatic device, enhancing the product matrix [2]. - The company focuses on differentiated innovation to meet unmet clinical needs, aiming to provide comprehensive solutions for patients [2][3]. Future Outlook - Guichuang Tongqiao aims to expand market share through procurement and enhance international business layout to improve global market coverage [3]. - The company is committed to developing differentiated innovative products with real clinical value to ensure long-term stable growth [3].
归创通桥2025年中期业绩:营收增长强劲 净利润同比增幅76%
Zhi Tong Cai Jing· 2025-08-19 13:36
Core Viewpoint - Guichuang Tongqiao Medical Technology Co., Ltd. reported significant growth in revenue and net profit for the first half of 2025, driven by strong performance in neurovascular and peripheral vascular intervention businesses [1] Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 482 million yuan, a year-on-year increase of 31.7% [1] - Net profit exceeded 121 million yuan, representing a substantial growth of 76.0%, with a net profit margin of 25.1% [1] - The company improved operational efficiency, with R&D, sales, and management expense ratios decreasing by 7 percentage points compared to the same period last year [1] Group 2: Business Segments - Neurovascular intervention business generated approximately 304 million yuan in revenue, up 25.0% year-on-year [1] - Peripheral vascular intervention business achieved revenue of about 176 million yuan, marking a 46.2% increase [1] - The company has established a wide distribution network covering over 3,000 hospitals, with over 1 million clinical uses of its products since commercialization [2] Group 3: Product Development and Innovation - The company launched several innovative products, including the ZYLOX Eagle thrombectomy system and the Tongqiao Shun sealing balloon hemostatic device, enhancing its product portfolio [3] - As of the announcement date, the company has established a pipeline of 73 products, with 50 products approved by NMPA [3] - The ZYLOX Mammoth large-bore thrombectomy catheter is the only 12F-18F large-bore catheter in China, offering innovative treatment solutions for deep vein thrombosis patients [3] Group 4: International Expansion - The company is expanding its international business, with products covering seven of the top ten global markets, including France, Germany, and Italy [4] - In emerging markets, the ZYLOX Unicorn vascular suturing system was approved in Indonesia, marking the company's first product launch in Southeast Asia [4] - The company is actively participating in international academic conferences to enhance brand recognition and has gained support from renowned overseas hospital groups [4]
首家港股!归创通桥成功“摘B”
思宇MedTech· 2025-05-13 08:51
Core Viewpoint - Guichuang Tongqiao Medical Technology Co., Ltd. has successfully removed the "B" mark from its stock code, becoming the first 18A high-value consumable medical device company in Hong Kong to achieve this milestone, indicating its growth and profitability recognition by the capital market [3][4]. Financial Performance - In 2024, Guichuang Tongqiao achieved a revenue of 780 million RMB, representing a year-on-year growth of 48.3% [4][8]. - The net profit for the year surpassed 100 million RMB, marking the company's first annual profit [4][8]. - The gross profit margin was recorded at 71.6%, slightly down from the previous year due to price reductions from centralized procurement and proactive pricing strategies to gain market share [8]. - The net cash flow from operating activities reached 174 million RMB, an increase of 76.83% year-on-year [8]. Product Development and Market Position - The company has continuously invested in R&D, leading to successful bids for core products in multiple provincial and national procurement rounds in 2024 [4]. - Key products include the Tongqiao Silver Snake intracranial support catheter and ZYLOX Penguin iliac vein stent, which have gained significant market traction [4][9]. - Guichuang Tongqiao focuses on peripheral vascular intervention and neurointervention consumables, with leading products in the treatment of lower limb artery occlusive disease and deep vein thrombosis [9]. Industry Landscape - The 18A high-value consumables sector in Hong Kong has become increasingly competitive since the first listing of a medical device company under this category in December 2019 [7]. - Companies like Xianruida Medical and Peijia Medical are also emerging in this space, focusing on differentiated competition in peripheral vascular, neurointervention, and heart valve segments [7][9]. - The market is characterized by rapid technological advancements and commercialization efforts, with several companies achieving profitability and significant revenue growth [7][9]. Company Overview - Established in 2012, Guichuang Tongqiao specializes in the R&D, production, and sales of neurovascular and peripheral vascular intervention medical devices [10]. - The company aims to provide high-quality and affordable treatment solutions for cardiovascular disease patients through innovative medical device products [10]. - As of now, Guichuang Tongqiao has developed a product pipeline of 66 items, with 47 products approved for market release by NMPA, and its marketing network covers over 3,000 hospitals in China [10].
归创通桥“摘B”
Zheng Quan Ri Bao· 2025-05-07 08:02
Core Viewpoint - Guichuang Tongqiao Medical Technology Co., Ltd. has received approval from the Hong Kong Stock Exchange to remove the "B" designation from its stock code, marking a significant milestone for the company as it transitions from being classified under the 18A listing rules for unprofitable biotech firms to meeting standard listing requirements [2][3] Group 1: Company Developments - The company plans to implement its first cash dividend post-listing, with a total cash dividend amounting to RMB 32.47 million (including tax) [2] - Guichuang Tongqiao was listed on the Hong Kong Stock Exchange in 2021 under the 18A rules and has since accelerated its product pipeline and commercialization efforts, achieving a revenue of RMB 780 million in 2024, a year-on-year increase of 48.3% [2] - The company has successfully achieved a net profit of over RMB 100 million for the first time in 2024, marking its first full-year profitability [2] Group 2: Product and Market Expansion - Guichuang Tongqiao has established a product pipeline of 66 items, with 47 products approved for sale in China, and its marketing network covers over 3,000 hospitals domestically [3] - The company has successfully won bids for key products in multiple rounds of provincial and national procurement in 2024, including the Tongqiao Silver Snake Intracranial Support Catheter and ZYLOXPenguin Iliac Vein Stent [3] - In terms of international expansion, Guichuang Tongqiao generated RMB 22.58 million in overseas revenue in 2024, with a compound annual growth rate of 87% over the past four years, and has commercialized 20 products in 24 countries and regions [3]
归创通桥-B(2190.HK):净利润破亿,血管介入龙头迎新阶段
Ge Long Hui· 2025-03-28 12:12
Core Viewpoint - The medical health industry faces significant uncertainties in 2024, yet outstanding companies like Guichuang Tongqiao have emerged successfully, achieving over 100 million yuan in net profit and turning profitable for the first time, demonstrating resilience in a challenging environment [1][24]. Company Performance - Guichuang Tongqiao reported a revenue of 782 million yuan in 2024, a substantial increase of 48.3% year-on-year, with a compound annual growth rate (CAGR) of 64% from 2021 to 2024 [9][12]. - The company achieved a net profit of 100.3 million yuan in 2024, marking its first annual profit, with a significant year-on-year growth of 1,663% when adjusted for non-IFRS measures [12][13]. - The revenue from neurovascular intervention products reached 529 million yuan, accounting for 67.7% of total revenue, with a year-on-year growth of 38.4% [9][12]. - The revenue from peripheral vascular intervention products surged by 74.5% to 252 million yuan, representing 32.3% of total revenue [9][12]. Market Dynamics - The high-value medical consumables market in China has grown from 104.6 billion yuan in 2018 to 156.1 billion yuan in 2023, with vascular intervention being the largest segment at 55.9 billion yuan in 2023, showing a year-on-year growth of 13.77% [4][5]. - The penetration rate of vascular intervention products in China remains low compared to developed countries, indicating significant growth potential in this segment [7][20]. Competitive Landscape - Guichuang Tongqiao has successfully navigated the challenges posed by centralized procurement policies, achieving rapid growth through effective product quality and sales capabilities [15][20]. - The company has participated in multiple rounds of centralized procurement, with 36 out of 47 approved products successfully selected [15][16]. - The competitive landscape is shifting towards a focus on innovation and operational efficiency, with leading players needing to excel in procurement, operational excellence, and continuous innovation [7][24]. International Expansion - Guichuang Tongqiao has expanded its overseas business, generating 22.58 million yuan in 2024, a year-on-year increase of 58.2%, with a CAGR of 87% over the past four years [20][21]. - The company plans to introduce 14 new products in 2025, targeting 11 countries and regions, with expectations of doubling overseas revenue by 2025 [21][22]. Future Outlook - The company is positioned for sustainable growth with a robust product pipeline, having received approvals for over 40 products since 2021, and plans for 17 additional products to be launched between 2025 and 2027 [22][23]. - Guichuang Tongqiao's valuation is expected to recover significantly, with potential inclusion in major stock indices, which could attract substantial capital inflows [25][26].