Medcaptain Medical Technology (2041) investor relations material

Executive summary

• Revenue for H1 2026 rose 14.4% year-over-year to RMB900.2 million, with growth across all business units.

• Gross profit increased 18.1% to RMB491.0 million, and gross margin improved to 54.5% from 52.9% year-over-year.

• Adjusted profit (non-IFRS) grew 9.8% to RMB76.2 million; adjusted EBITDA rose 7.1% to RMB157.9 million.

• Net profit dropped sharply to RMB1.8 million due to significant share-based payment and listing expenses.

• The company completed a successful H-share listing in September 2026, raising HK$600 million gross proceeds.

Financial highlights

• Revenue: RMB900.2 million (+14.4% YoY); gross profit: RMB491.0 million (+18.1% YoY).

• Adjusted profit: RMB76.2 million (+9.8% YoY); adjusted EBITDA: RMB157.9 million (+7.1% YoY).

• Net profit: RMB1.8 million (down from RMB41.0 million YoY); EPS: RMB0.01 (vs. RMB0.08 YoY).

• Operating cash flow: RMB100.3 million (+73.7% YoY); net cash used in investing: RMB32.0 million.

• Gearing ratio improved to 33.4% from 36.0% at year-end 2025.

Outlook and guidance

• Focus remains on innovation-driven growth in life support, minimally invasive intervention, and in vitro diagnostics.

• Plans to enhance R&D, expand global footprint, and optimize product mix to offset short-term margin pressure from volume-based procurement.

• Continued investment in automation, digital transformation, and supply chain integration to drive efficiency.