HeartCare Medical-B Reports 2022 Net Loss Attributable to Owners of Parent Widened to RMB 200 Million Amid Revenue Doubling

HeartCare-B (Shanghai HeartCare Medical Technology Co., Ltd.) announced on March 20 in the Hong Kong Stock Exchange that in 2022, the company recorded revenue of 183 million yuan, a year-on-year increase of 103.2%; the loss attributable to owners of the parent company was 200 million yuan, compared to a loss of 194 million yuan for the same period last year. The increase in revenue was mainly attributed to the continuous growth in sales of ischemic stroke thrombectomy devices and intracranial artery stenosis treatment devices, as well as additional revenue generated from the market launch of newly introduced hemorrhagic stroke treatment, prevention, and access devices in 2022, including vascular closure hemostasis systems, embolization coils, and left atrial appendage occluders. Meanwhile, the gross profit margin increased to 67.9% in 2022 due to the growing cost advantages of ischemic stroke thrombectomy devices and intracranial artery stenosis treatment devices.