MicroPort Medical Shares Drop Over 4% on Forecasted H1 2021 Net Loss of $90M–$100M

MicroPort Medical (00853) announced that it expects the Group to record a loss for the period attributable to equity shareholders of the Company of approximately USD 90 million to USD 100 million for the first half of 2021, compared to a loss of approximately USD 65.6 million in the same period last year. As of press time, MicroPort Medical shares fell 4.01% to HKD 56.2, with a turnover of HKD 45.7152 million.

The announcement indicated that the widening net loss was primarily attributable to: the price reduction impact resulting from China's centralized volume-based procurement policy for coronary stents; a significant year-on-year increase in R&D investment; and one-time transaction costs associated with the issuance of convertible bonds. Meanwhile, the Group's sales revenue achieved double-digit year-on-year growth during the reporting period, partially offsetting the aforementioned adverse impacts. This growth was primarily attributable to a substantial increase in the sales volume of coronary stents driven by China's centralized volume-based procurement policy, rapid market promotion, revenue contributions from new products, and a rebound in the volume of elective surgeries following the recovery from the COVID-19 pandemic.

Executive Editor: Lu Yujun