Core Insights - Shanghai MicroPort EP MedTech Co., Ltd. reported a revenue of 336 million yuan for the first three quarters of 2025, representing a year-on-year growth of 15.65% [1] - The net profit attributable to shareholders was 41.92 million yuan, with a slight year-on-year increase of 0.46%, impacted by the timing of government subsidies related to Innovative Medical Devices [1] - The company achieved a non-GAAP net profit of 24.07 million yuan, marking a turnaround from losses compared to the previous year [1] Financial Performance - In Q3 2025, the company recorded a revenue growth of 21.78% year-on-year [1] - The non-GAAP net profit for Q3 reached 3.26 million yuan, indicating a return to profitability compared to the same quarter last year [1] Market Position and Strategy - MicroPort EP has been focused on the cardiac electrophysiology sector for over a decade, establishing a comprehensive product portfolio with over 30 products based on four major technological pathways [1] - The company has responded actively to national centralized procurement policies, which have laid a solid foundation for increasing market share [1] - The three-dimensional electrophysiology surgeries have been performed in over 1,000 hospitals, with more than 80,000 surgeries completed, ranking first among domestic manufacturers [1] International Expansion - In the first half of 2025, the company successfully expanded its overseas market, covering over 20 countries with a revenue growth rate exceeding 40% [1] - High-end pressure monitoring catheters have shown strong performance, with market penetration in three-dimensional surgeries surpassing that of domestic products [1] Product Innovation - The company has achieved significant breakthroughs in high-end procedures, with the proportion of high-end catheter products gradually increasing [2] - In February 2025, the first batch of Magbot robotic navigation surgeries was successfully completed, filling a technological gap in domestic magnetic-driven catheters and enhancing core performance metrics [2] - As of mid-2025, over 3,000 surgeries using high-end products like pressure ablation catheters have been completed in multiple medical centers, continuously capturing market share [2] Future Outlook - Currently, nine innovative products have entered the special approval process for national innovative medical devices, with five already approved [2] - The company aims to leverage both domestic and international markets to enhance its capabilities, focusing on breakthroughs in high-end atrial fibrillation procedures and aspiring to upgrade from a domestic leader to a global technology player [2]