Shanghai, China, 28 March 2025 — MicroPort® Scientific Corporation (00853.HK, the “Group”, or “MicroPort®”) announced its annual results for 2024. For the year ended 31 December 2024 (the “Reporting Period”), the Group recorded revenue of US$1,031.1 million, representing a year-on-year increase of 10% excluding the foreign exchange impact, while net loss was significantly narrowed by 59% year on year. In addition, the Group’s EBITDA turned positive during the Reporting Period, reversing from a loss of US$370.4 million in the previous year to a gain of US$60.4 million. In terms of liquidity, operating cash outflow significantly narrowed by 79%.
Leveraging Globalization Capabilities, Each Business Segment Achieves Success in Overseas Expansion
Facing a rapidly changing external environment and increasingly fierce industry competition, the Group swiftly adjusted and adapted its strategy to maintain strong momentum in this evolving landscape. Each business segment achieved steady development, continuously strengthening the Group’s leadership in core markets, achieving a steady year-on-year growth of 10% in revenue excluding the foreign exchange impact. During the Reporting Period, the Group integrated its global commercial resources to build the GloMatrix platform that empowers the domestically developed products of diverse business segments, enabling swift international market entry and fostering overseas sales. To date, our innovative products have reached more than 20,000 hospitals in over 100 countries and regions. The GloMatrix platform utilizes strategic hubs to extend coverage to surrounding areas and facilitate integrated sales of all innovative products of the Group. This platform generates increasing revenue for the Group and empowers its business segments to unlock the boundless potential of global market expansion and extend the Group’s commercial influence worldwide. During the Reporting Period, especially by leveraging the intensification advantages of the global platform that integrates all of the Group’s overseas resources, the Group’s overseas business revenue recorded a year-on-year increase of 85%.
Focus on Resources Drives Significant Gain in Operational Efficiency
Guided by its goal of improving profitability, the Group implemented resource prioritization and cost optimization measures. As a result, its operating expense ratio decreased by 29 percentage points year on year. Focusing on key projects and enhancing research and development efficiency, the group reduced its R&D expense ratio from 40% to 21% year-on-year, improving overall operational efficiency. Additionally, the Group persisted in focusing on its core business strategy, completing the divestiture of several non-core, loss-making businesses and terminating some early-stage R&D projects in 2024 to continue sharpening strategic focus.
Innovation-Driven Strategy Builds Long-Term Momentum
Innovation remains a fundamental driver for MicroPort®. During the Reporting Period, multiple products across business segments received approval for market launch, enriching the Group’s integrated solutions portfolio and further strengthening competitiveness. During the Reporting Period and up to the date of this announcement, the Group received 58 Class III medical devices initial registration certificates from the National Medical Products Administration of China (“NMPA”) and obtained 249 initial registration certificates in 43 overseas markets.
Looking ahead, MicroPort® will maintain its commitment to enhancing financial health and organizational ability. By prioritizing core businesses, expanding domestic market penetration, and accelerating globalization, the Group aims to strengthen its presence through a platform-driven commercial strategy. This will support efficient product-penetration, wider access, and faster market adoption of medical solutions worldwide.
At the same time, MicroPort® will continue to invest in internal capability development, resource efficiency, and output-focused management to foster high-quality, sustainable growth. Through the core engines of “innovation”, “scale”, and “globalization”, MicroPort® is well-positioned to consolidate and expand its leadership in the MedTech industry.