MicroPort Scientific (853) investor relations material

Executive summary

• Revenue for the first half of 2025 was US$547.5 million, down 2.0% year-over-year, mainly due to global economic headwinds, industry competition, and delayed procurement cycles.

• Net loss narrowed significantly to US$36.4 million, a 65.9% improvement year-over-year, driven by cost controls and divestment of non-core businesses.

• EBITDA more than doubled to US$127.8 million from US$59.1 million, reflecting improved operational efficiency.

• Overseas business revenue surged 57.3% year-over-year, reflecting strong global expansion.

• Adjusted (non-HKFRS) profit for the period was US$1.2 million, compared to a loss of US$64.1 million last year.

Financial highlights

• Gross profit was US$308.6 million, down 6.7% year-over-year; gross margin declined to 56.4% from 59.2% due to price reductions and sales mix.

• Basic loss per share was (2.53) cents, diluted loss per share (2.82) cents, both showing over 49% improvement.

• Non-HKFRS adjusted profit for the period was US$1.2 million, compared to a loss of US$64.1 million last year.

• Cash and cash equivalents increased to US$764.5 million as of June 30, 2025.

• Total borrowings rose to US$1,682.9 million, liabilities to assets ratio at 68.7%.

Outlook and guidance

• Management expects continued global demand growth for medical devices, especially in China, but notes ongoing macroeconomic, policy, and industry uncertainties.

• Strategic focus remains on cost control, core business, global expansion, and innovation to maximize shareholder value.

• Plans include further innovation, production efficiency, integration of global operations, and management system reform.