Core Viewpoint - The company, HeartFlow Medical-B (02160), is experiencing a decline in stock price ahead of its mid-year performance announcement, with a projected net loss for the first half of 2025 not exceeding RMB 10 million, representing a year-on-year decrease of at least 83% [1] Financial Performance - The company anticipates a significant reduction in net loss due to increased sales of the VitaFlow Liberty transcatheter aortic valve and delivery system in over 20 countries/regions, with overseas revenue more than doubling [1] - The commercial progress of the AnchorMan left atrial appendage occluder system and its guiding system in China is steady, and it has received CE marking for commercialization in Europe, contributing to revenue growth [1] Operational Efficiency - Continuous optimization of resource allocation has further enhanced operational efficiency [1] - The completion of D-round financing by the joint venture 4C Medical has resulted in a decrease in the company's shareholding, which is recognized as a gain from the sale of equity [1]

Core Viewpoint - HeartFlow Medical-B (02160) experienced a nearly 7% drop before earnings announcement, currently down 4.2% at HKD 1.37, with a trading volume of HKD 11.31 million [1] Financial Performance - The company plans to hold a board meeting on August 28 to approve its interim results [1] - HeartFlow Medical issued a profit warning, expecting a net loss of no more than RMB 10 million for the first half of 2025, representing a year-on-year decrease of no less than 83% [1] Revenue Drivers - The reduction in net loss is primarily attributed to the sales of the VitaFlow Liberty transcatheter aortic valve and its delivery system, which have been sold in over 20 countries/regions [1] - Revenue from overseas markets has increased by more than two times [1] - The commercial progress of the AnchorMan left atrial appendage occluder system and its guiding system in China is steadily advancing, with CE marking obtained for commercialization in Europe, contributing to revenue growth [1] Operational Efficiency - Continuous optimization of resource allocation has further enhanced operational efficiency [1] - The completion of D-round financing by the joint venture 4C Medical has resulted in a decrease in the company's shareholding, leading to recognized gains from the sale of equity [1]

Core Viewpoint - The company has received CE mark approval for its Alwide Plus balloon dilation catheter, enhancing its product offerings in the transcatheter aortic valve implantation (TAVI) market in Europe [1][2]. Group 1: Product Features and Benefits - Alwide Plus is designed to expand calcified aortic valves prior to TAVI, reducing the challenges associated with valve shaping during the procedure [2]. - Key features include ultra-low compliance for precise balloon expansion, high burst pressure for effectively opening severely calcified areas, rapid filling and deflation to minimize blood flow interruption, and excellent puncture resistance for enhanced safety during the procedure [2]. Group 2: Market Impact and Strategic Importance - The CE mark approval will optimize treatment options for TAVI in Europe, contributing to increased overseas revenue for the company [2]. - Alwide Plus is the fourth self-developed product to receive CE mark approval, enriching the company's product matrix in the structural heart disease market in Europe [3]. - The approval demonstrates the company's leading technological reserves and R&D capabilities in the global structural heart disease medical device sector, enhancing its competitive edge in the international high-end medical device market [3].

Core Viewpoint - The stock of HeartFlow Medical-B (02160) rose over 4% ahead of its mid-year earnings announcement, with expectations of a significant reduction in net losses for the first half of 2025 compared to the previous year [1] Group 1: Earnings Announcement - HeartFlow Medical-B plans to hold a board meeting on August 28 to consider and approve its mid-year earnings [1] - The company anticipates a net loss of no more than RMB 10 million for the first half of 2025, representing a year-on-year decrease of at least 83% [1] Group 2: Revenue Drivers - The reduction in net losses is attributed to the sales of the VitaFlow Liberty transcatheter aortic valve and its delivery system in over 20 countries, resulting in more than a twofold increase in overseas revenue [1] - The commercial progress of the AnchorMan left atrial appendage occluder system and its guiding system in China has been steady, with the product obtaining CE marking and achieving commercialization in Europe during the reporting period, contributing to revenue growth [1] Group 3: Operational Efficiency - The company has enhanced operational efficiency through continuous optimization of resource allocation and active cost management [1] - The group's joint venture, 4C Medical Technologies, Inc., completed a Series D financing round, leading to a decrease in the company's equity stake in 4C Medical, which generated income from the perceived sale of part of its equity [1]

Core Viewpoint - HeartFlow Medical-B (02160) is expected to report a significant reduction in net loss for the first half of 2025, projecting a loss not exceeding RMB 10 million, which represents a year-on-year decrease of no less than 83% [1] Financial Performance - The company anticipates a net loss reduction primarily due to the sales of the VitaFlow Liberty transcatheter aortic valve and its retrievable delivery system, which has been sold in over 20 countries/regions, resulting in a year-on-year revenue increase of over 200% [1] - The AnchorMan left atrial appendage occluder system and its guiding system have made steady progress in commercialization in China, achieving CE marking and commercializing in Europe during the reporting period, contributing to revenue growth [1] Operational Efficiency - The company has improved operational efficiency through continuous optimization of resource allocation and active cost management measures [1] - The joint venture 4C Medical Technologies, Inc. completed a Series D financing round, leading to a decrease in the company's equity stake in 4C Medical, which is recognized as a gain from the partial sale of equity [1]