MPSC Issues Positive Profit Alert for 2017 1H Net Profit Expected to Increase 261%
Shanghai, China – On August 1, MicroPort Scientific Corporation ("MPSC, or the Company") (HK: 0853) is pleased to announce that based on a preliminary review of the information currently available to the board of directors of the Company ("the Board"), the Company and its subsidiaries ("Group") is expected to record a net profit of approximately USD20 million for the six months ended 30 June 2017, representing an increase of 261% as compared with the net profit of USD5.54 million recorded for the same period of 2016. The significant increase in the unaudited net profit for the six months ended 30 June 2017 is principally attributable to a significant growth in revenue from the cardiovascular and endovascular segments in the China market, and in particular, a significant revenue growth of MPSC's third-generation coronary stent product Firehawk® Rapamycin Target Eluting Coronary Stent System ("Firehawk®"); and a substantial reduction of net loss of the OrthoRecon business due to the improvement in revenue and gross margin.
The information contained in this news is a preliminary assessment made by the Board based on the latest management accounts of the Group which have not been audited or reviewed by the independent auditors of the Company. The Company is still in the process of preparing and completing the interim results of the Group for the six months ended 30 June 2017, which is expected to be published before the end of August 2017 and the information disclosed in which shall prevail.
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