Heart Medical-B (06609.HK) Reports Interim Results with Revenue of RMB 110 Million, Up 42.9% Year-over-Year

HeartCare (06609) announced its interim results for 2023, with revenue of approximately RMB 110 million (same unit hereafter), representing a year-on-year increase of 42.9%; gross profit of RMB 79.718 million, up 56.7% year-on-year; net loss of RMB 54.338 million, narrowing by 18.67% year-on-year; and loss per share of RMB 1.42.

The announcement stated that the increase in revenue was mainly due to the continuous growth in sales of devices for acute ischemic stroke (AIS) thrombectomy, intracranial artery stenosis treatment, and innovative access devices.

As of the date of this announcement, the company has a total of 21 medical device products approved by NMPA and two medical device products approved by the FDA. The pipelines for intracranial neuro drug-eluting balloons, coil embolization assist stents, carotid artery stents, and flow diverters have entered the later stages. During the reporting period, the company incurred R&D expenses of RMB 69.9 million, aiming to focus on advancing the progress of several cutting-edge research pipelines for the treatment of stroke and pulmonary embolism.