MicroPort Scientific Corporation Plunges Over 8% on Profit Warning for FY2020

　　MicroPort Medical(00853) Issues Profit Warning: The Group Recorded a Period Loss Attributable to Equity Shareholders of the Company of Approximately US$188 Million to US$203 Million, Compared to a Period Profit Attributable to Equity Shareholders of the Company of Approximately US$46.3 Million in the Same Period Last Year. As of Press Time, MicroPort’s Shares Fell 8.06% to HK$42.75, with a Turnover of HK$180 Million.

The announcement indicated that the changes were primarily attributable to a sharp decline in outpatient visits and surgical procedures at healthcare institutions due to the pandemic, leading to a decrease in the Group’s sales revenue from implantable medical devices; adjustments to price subsidies accrued for stent products sold through distribution channels but not yet implanted, in reference to the 2021 implementation prices, as affected by the centralized volume-based procurement policy for coronary stents in China during the fourth quarter; costs recognized under the share award scheme; and the absence of one-time investment gains from the partial disposal of equity in Shanghai MicroPort EP MedTech Co., Ltd. recorded in the same period of the previous year.

Responsible Editor: Lu Yujun