Lepu ScienTech Medical Technology (Shanghai) Co., Ltd, (HKG: 2291) a China-based medical technology company, has released its 2023 interim report, showcasing significant financial growth. The company reported revenues of RMB 165.9 million, marking a 33.0% increase year-on-year (YOY). Net profits also saw a substantial rise, surging by 213.7% YOY to reach RMB 76.1 million. This growth was accompanied by a 36.5% YOY increase in research and development expenditure, which amounted to RMB 26.8 million.
Product Performance and Market Share
A key driver of Lepu ScienTech’s revenue was its congenital heart disease occluder, which brought in RMB 125 million, a 38.0% YOY increase and accounted for 75.4% of total revenues. The MemoCarna series oxide film occluder was identified as the main contributor to the business sector’s success. Additionally, the MemoSorb fully degradable occluder experienced growth, indicating a strong market response to these products. Revenues from surgical supporting products related to occluder devices reached RMB 33.778 million, accounting for 20.4% of total revenues.
Pipeline and Product Development
Lepu ScienTech boasts an impressive product portfolio, with 20 on-market occluder and accessory products. The company also has 8 products under review or being prepared for review, which includes occluders, heart valves, surgical accessories, and mechanical circulatory assistance products. This robust pipeline comprises a total of 27 investigational products, highlighting Lepu ScienTech’s commitment to innovation and expansion in the medical device industry.-Fineline Info & Tech
