MicroPort® NeuroTech™ Issues Positive Profit Alert for 2023 Performance

Shanghai, China, January 07, 2024 – MicroPort® NeuroTech has issued a positive profit alert regarding its 2023 annual performance on the Hong Kong Stock Exchange. Benefiting from the continued success of its innovative products, MicroPort® NeuroTech is expected to record an adjusted net profit* of no less than RMB 178 million, representing an increase of at least 36% compared to that of the previous year. With the net loss of RMB 24.68 million recorded in 2022, MicroPort® NeuroTech is expected to achieve a turnaround, as well as a strong growth expansion, during the reporting period.

The expected growth in profitability is primarily attributed to:

  1. Multiple market-share leading products - including, but not limited to, Tubridge® Flow-Diverting Stent, Bridge® Rapamycin Target Eluting Vertebral Stent System, and NUMEN® Coil Embolization System – which continue to expand globally, further solidifying the competitive advantages and achievement of significant growth in revenue;
  2. The newly approved products in 2022 - including, but not limited to, Neurohawk® Stent Thrombectomy Device, as well as Diveer® Intracranial Balloon Dilatation Catheter - accelerated hospital admission and contributed to the growth of the Group’s revenue;
  3. The Group’s continued improvement of its gross profit margin and operating efficiency through the implementation of supply chain improvement and cost saving measures, resulting in a significant increase in profitability.

This announcement is made by MicroPort® NeuroTech pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

*The company employs "adjusted net profit" as non-Hong Kong Financial Reporting Standards ("HKFRS") measures, eliminating impacts of profit/loss of associates and certain non-cyclical or one-time expense items (including accrued interest expenses on preferred shares, listing expenses, share-based payment expenses, and potential impairment losses on assets, etc.).

About MicroPort® NeuroTech

MicroPort® NeuroTech™ (MicroPort NeuroTech Limited; HKEX: 2172), an associated company of MicroPort® (MicroPort Scientific Corporation; HKEX: 00853), is committed to the research and development of high-end medical devices in the field of neurological interventional treatment with solutions that currently support over 100 cerebrovascular stenting procedures every day. In the future, MicroPort® NeuroTech™ will continue investing more resources in innovation and development to provide more high-quality and innovative cerebrovascular and neuro intervention solutions for doctors and patients.

More information is available at www.medneurotech.com.