MicroPort Scientific Corporation Reports 2021 Annual Revenue of USD 779 Million, Up 20% Year-over-Year

Gelonghui, March 31 -- MicroPort (00853.HK) released its annual performance announcement. In 2021, it achieved an income of 779 million US dollars, increasing by 20.0% year-on-year; the loss attributable to the company's equity shareholders was 276 million US dollars, expanding by 44.57% year-on-year; and the basic earnings per share were a loss of 15.29 cents. During the reporting period, the group recorded an increase in revenue of 20.0% (in US dollars) compared to 2020, or an increase of 15.0% (excluding the impact of exchange rates). The cardiac rhythm management business and orthopedic medical device business achieved revenue growth of 18.8% and 5.1%, respectively, excluding the impact of exchange rates. This growth was mainly attributed to the recovery from the COVID-19 pandemic, which led to an increase in elective surgeries. Thanks to rapid market promotion and new product launches, the heart valve business, neurointerventional products business, and aortic and peripheral vascular intervention products business maintained rapid growth, recording revenue growth of 93.2%, 72.5%, and 45.6%, respectively, excluding the impact of exchange rates.

In 2021, the Group recorded a loss of US$351.3 million (loss attributable to equity shareholders of the Company: US$276.5 million), compared to a loss of US$223.3 million (loss attributable to equity shareholders of the Company: US$191.3 million) in 2020. This change was mainly attributed to surgical procedures.RobotThe increase in expenses was driven by several factors: the business, including heart valve operations, utilized independent financing channels to actively advance R&D, registration, and commercialization; increased investments in overseas market expansion and product promotion; higher costs recognized from granting incentive shares to certain employees under the Group's share reward plan during the reporting period; impacts from China’s centralized volume-based procurement policy for coronary stents; accrued interest on newly issued convertible bonds; and initial public offering (IPO) expenses related to the heart valve, surgical robot, and neuro-interventional products businesses.