Neurointervention Leader Xinwei Medical Reports Pre-Tax Profit of RMB 80 Million, Marking a Profitability Turning Point
HeartCare
Neurointerventional Medical Device Developer
HeartCare Future
Recently,HeartCare(06609.HK) Released a Positive Profit Forecast for the Year 2025.
The announcement shows that the company expects to achieve revenue for the whole year.Approximately RMB 400 million to RMB 410 million, an increase of approximately44%; Profit before taxApproximately 80 million yuan`, significantly reversing the pre-tax net loss of 12 million yuan from the same period last year.`
Driven by both revenue growth and cost control, the company's core operating capabilities have seen substantial improvement, and the rare "profit turning point" within the neurointervention sector is becoming increasingly clear.
# Core Performance: Revenue Growth+ Operating Efficiency Increased Simultaneously
According to the preliminary assessment of the unaudited management accounts disclosed in the announcement,2025Annual revenue scale of the company in2024The increase was significantly larger for the year, with both revenue and profit levels in the second half continuing to grow compared to the first half. The improvement in performance was not a one-time release but demonstrated a certain continuity and sustainability.
From the profit side, the company expects2025Achieved pre-tax profit of approximately RMB8000Ten thousand yuan, and2024Net loss before tax for the same period last year was approximately1200RMB 10,000, with a structural improvement in profitability.
After excluding factors such as share-based compensation expenses and fair value changes of non-listed fund investments, the Company's adjusted pre-tax profit is expected to be approximately7700Ten thousand yuan, compared to2024Net Loss Before Tax Adjusted by Year1150The reversal achieved by the company indicates that the profitability of its core business has been basically established.
# Multiple product lines work together to achieve more balanced growth.
The core driving force behind the performance growth comes from the simultaneous increase in sales across multiple product lines in neurointervention.
InField of Ischemic StrokeAs the company's new products and technologies are gradually implemented, coupled with an increase in market share of existing products, revenue from related products has maintained steady growth. Ischemic stroke, as the most widely applied and inelastic demand track in neurointervention, continues to form the company's income base.
InHemorrhagic Stroke FieldThe scaled commercial sales of intracranial stent products have driven a significant increase in revenue for related products. At the same time, the sales volume of other hemorrhagic stroke products has grown in tandem, further strengthening the company's product coverage capabilities in this细分领域.
In addition, the interventional access products maintained a continuous growth trend during the reporting period. With high usage frequency and strong clinical adaptability, these products not only increased the overall revenue scale but also enhanced the stability of the company's revenue structure.
Multiple product lines form a synergy in different clinical scenarios, which is2025An important foundation for the impressive year-end revenue performance.
# Cost Control Takes Effect, Profit Quality Improves Simultaneously
In addition to revenue growth, the company's improvements in cost and expense management also provided important support for profitability.
The report shows that during the reporting period, the company effectively reduced the overall expense ratio by continuously optimizing the sales cost structure and strengthening the management of administrative expenses and operating expenditures. Against the backdrop of expanding revenue scale, the operating leverage effect began to emerge, driving improvements on the profit side.
From the perspective of operational rhythm, the company is gradually transitioning from a phase focused primarily on R&D investment and market expansion to one that places greater emphasis on scale efficiency and operational quality—a shift that has already begun to reflect in the financial data.
# Innovative Product Progress: Self-Expanding Intracranial Drug-Eluting Stent Accepted for Review
Notably, on the same day as the positive profit forecast was disclosed, the company announced that its self-developedThe registration application for the self-expanding intracranial drug-eluting stent has been officially accepted by the National Medical Products Administration.。
This product is used to treat intracranial atherosclerotic stenosis. While providing vascular support and recanalization, it can reduce the risk of in-stent restenosis through a drug-release mechanism.
According to public information, there are currently no similar self-expanding intracranial drug-eluting stent products available on the global market, and the company's R&D progress in this specific field is at the forefront of the industry.
The acceptance of the registration application marks a further deepening of the company's product layout in the field of vascular stenosis treatment, and provides a potential new growth driver for its future.
# Industry Perspective:From"Can It Be Done" to "Can It Make Money"
After the neurointervention industry as a whole enters a stage of stabilized regulation and intensified competition, the core differentiation factors for companies are shifting from singular technological breakthroughs to commercialization capabilities, completeness of product portfolios, and operational efficiency.
2025In the year, HeartCare achieved a turnaround from losses while expanding its revenue, reflecting that its synergistic capabilities in product implementation, channel execution, and internal management are taking shape. This phased change marks the company's progress from a "research and development-driven enterprise" toward a development model that balances "operations and innovation."
# Company Profile
HeartCare（6609.HK）Founded in2016Year, headquartered in Lingang New Area, Shanghai, with research and production centers in Jiangbei New Area, Nanjing, and California, USA, and branch offices in Beijing, Hong Kong, and other places.
Currently, HeartCare has pioneered a one-stop solution for the treatment and prevention of stroke in the field of neurointervention, with a product pipelineCoverThrombectomy, Aneurysm, and Stenosis Neurointerventional TreatmentsInstrument, interventional access devices, and stroke prevention devices.
The company has obtained the registration certificate for medical device products manufactured in China.32Item，Patents Authorized Exceed260Items, some products have obtained"Priority Review for Innovative Devices"Qualifications: Sales channels cover all provincial administrative regions in China except Macao, and the products are available in more than2500Used in home terminal hospitals.
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