MicroPort Reports 93.5% Surge in Annual Net Profit to USD 46.28 Million and Declares Final Dividend of HK$0.053 per Share

Original Title: MicroPort (00853) Annual Net Profit Surges 93.5% to $46.281 Million, with a Dividend of 5.3 HK Cents per Share Source: Zhitong Finance

Zhitong Finance APP News: MicroPort (00853) announced its 2019 annual results, with revenue reaching USD 793 million, a year-on-year increase of 18.5%; gross profit amounted to USD 564 million, up 20.1% year on year; profit attributable to shareholders was USD 46.281 million, representing a 93.5% year-on-year growth. Basic earnings per share were USD 0.0292, and a final dividend of HKD 0.053 per share is proposed.

The announcement indicated that during the period, revenue growth was primarily driven by strong sales performance in core businesses and the acquired cardiac rhythm management business. The cardiovascular interventional products segment, the aortic and peripheral vascular interventional products segment, and the neurointerventional products segment all experienced rapid growth, achieving revenue increases of 35.5%, 44.5%, and 55.6%, respectively, after excluding the impact of exchange rate fluctuations.

Following the completion of the acquisition of LivaNova PLC’s (“LivaNova”) cardiac rhythm management business (the “CRM Business”), the financial results of the CRM Business have been consolidated into the Group’s consolidated financial statements since April 30, 2018. For the year ended 2019, the CRM Business generated revenue of US$209 million, representing a 36.9% increase from 2018 after excluding the impact of foreign exchange fluctuations.

In 2019, the increase in profit attributable to shareholders was mainly driven by significant revenue growth in the Chinese market for cardiovascular interventional products, aortic and peripheral vascular interventional products, heart valve business, and orthopedic medical device segment, as well as an investment gain of US$55.8 million (after tax) from the disposal of part of the equity in Shanghai MicroPort EP MedTech Co., Ltd.