HeartCare-B (06609.HK) Reports 2025 Annual Results: Net Profit of RMB 83.3 Million and Hemorrhagic Stroke Revenue Soars by 223.2%

HeartCare-B(06609) Released Annual Performance up to December 31, 2025: The Group Achieved Revenue of 408 Million Yuan (RMB, Hereinafter the Same), a Year-on-Year Increase of 46.9%; Gross Profit of 290 Million Yuan, a Year-on-Year Increase of 59.3%; R&D Costs of 40.761 Million Yuan, a Year-on-Year Decrease of 30.8%; Shareholders' Profit Attributable to Owners of 83.335 Million Yuan, Turning Losses into Profits Year-on-Year; Basic Earnings Per Share of 2.21 Yuan.

In the fiscal year 2025, the company achieved revenue of RMB 408.3 million, representing a year-on-year increase of 46.9%. The group reported a net profit attributable to shareholders of RMB 83.335 million, a significant turnaround from the net loss attributable to shareholders of approximately RMB 13.6 million in the previous year. This transformation was mainly due to rapid revenue growth across the company’s three major business segments—ischemic stroke, hemorrhagic stroke, and interventional access—as well as further improvements in operational efficiency.

In 2025, the company's ischemic stroke business revenue increased by 31.8% year-on-year, mainly due to the widespread clinical recognition of its intracranial thrombus aspiration catheter with differentiated competitive advantages. The large-lumen aspiration and cascade aspiration technology (CATCH) were included in the "Chinese Expert Consensus on Endovascular Treatment Techniques for Acute Ischemic Stroke 2025." The product has been adopted by over 450 hospitals, leading to a rapid increase in revenue scale; (2) After mature products were included in centralized procurement, sales volume grew rapidly.

In the hemorrhagic stroke business, the company has built a complete aneurysm treatment solution. The company's intracranial stent (recognized as an innovative medical device by NMPA) was used in approximately 500 hospitals cumulatively in its first commercial year, driving a rapid increase in the market share of embolic coils. Meanwhile, the company’s flow diverter received NMPA approval for marketing in 2025, achieving clinical promotion and application. Due to the aforementioned reasons, the company's hemorrhagic stroke business revenue increased by 223.2% year-over-year in 2025.

In the interventional access business, the company's star product, the vascular closure device, has been used in over 1,800 hospitals cumulatively, with an annual clinical usage in terminal hospitals exceeding 200,000 units, achieving a single-product revenue of over 100 million yuan by 2025. Meanwhile, the company is promoting the development and commercialization of the second-generation vascular closure device to further expand its market share.

In 2025, the company's overseas market revenue increased by 101.3% compared to 2024, primarily due to the rapid progress in overseas product registration and promotion efforts. In the overseas market, the company’s thrombectomy stents, occlusion balloon catheters, distal access catheters, and microcatheters have obtained CE or FDA certification, along with receiving 56 registration certificates across 13 other countries or regions. To date, the company is also conducting over 130 product registrations in 29 additional countries or regions, expanding sales channels, and laying the foundation for achieving long-term overseas sales goals.