China-based MicroPort Scientific Corp. (HKG: 0853) reported unaudited 2022 interim results ending June 30, 2022, with revenues of USD 405 million, up 10.1% year-on-year (YOY) excluding exchange rate impacts. The growth was driven by strong performance in key business segments despite COVID-19-related challenges.
Business Segment Highlights
- Heart Valve Business: Revenues increased by 44.8% YOY, boosted by new product launches and effective market promotion.
- Aortic and Peripheral Vascular Intervention: Revenues rose by 26.6% YOY, supported by robust demand for vascular devices.
- Neurointervention Business: Revenues grew by 22.9% YOY, reflecting increased adoption of neurovascular products.
- Overseas Markets: Revenues from heart rhythm management (8.1% increase), orthopaedic medical devices (9.7%), and cardiovascular intervention (28.1%) also expanded.
Financial Performance
The company reported a loss attributable to equity shareholders of USD 198 million, up 119.5% YOY, with a basic loss per share of 10.94 cents. The increase in losses was primarily due to higher non-cash expenses and investments in R&D, regulatory filings, commercialization of surgical robots, heart valves, and surgical instruments. Additionally, the company increased spending on overseas market development and product promotion.-Fineline Info & Tech
