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Venus Medtech (2500) investor relations material
Venus Medtech H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary28 Aug, 2025
Executive summary
Revenue for the six months ended June 30, 2025, was RMB187.1 million, down 18.9% year-over-year, mainly due to lower product unit prices, pricing strategy adjustments, and a shift to a platform-based sales model.
Loss attributable to owners decreased by 34.7% to RMB134.8 million, reflecting improved cost control and operational efficiency.
Gross profit margin declined to 73.7% from 78.8% due to price reductions, while non-IFRS EBITDA loss narrowed by 43.5% year-over-year.
Overseas revenue grew 35.3% year-over-year to RMB40.7 million, now representing 21.8% of total revenue, driven by VenusP-Valve sales.
The company advanced clinical trials for Cardiovalve and Venus-PowerX, with Cardiovalve nearing completion of pivotal enrollment in Europe.
Financial highlights
Gross profit was RMB138.0 million, down 24.1% year-over-year; gross margin declined to 73.7% from 78.8%.
Non-IFRS EBITDA loss narrowed by 43.5% to RMB82.0 million.
Non-IFRS commercialization profit margin improved to 16.2% from 14.8%.
R&D costs dropped 33.1% to RMB120.9 million, reflecting production line optimization.
Cash and cash equivalents stood at RMB279.0 million as of June 30, 2025, down 6.4% from December 2024.
Outlook and guidance
Plans to accelerate clinical progress for Venus-PowerX and Cardiovalve, aiming for European pivotal trial completion in H2 2025.
Focus on deepening commercialization in China, expanding global market presence, and enhancing sales team capabilities.
Continued global expansion, especially in Europe and emerging markets, with ongoing search for strategic partners.
Continued investment in R&D and internationalization to deliver innovative heart valve solutions.
How did cost control affect R&D spending?
When is Cardiovalve's European trial expected to complete?
What is the current status of Mr. Zi's loan repayment?
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Next Venus Medtech earnings date
H2 202527 Mar, 2026
Next Venus Medtech earnings date
H2 202527 Mar, 2026
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Frequently asked questions
Venus Medtech Inc. is a medical device company focused on the development and commercialization of transcatheter heart valve products for structural heart diseases. The company's diverse product portfolio encompasses solutions such as the VenusA-valve and VenusP-valve, alongside other devices aimed at addressing conditions related to aortic stenosis and pulmonic, mitral, and tricuspid regurgitation. Venus Medtech has established itself as a leader in the field by continuously focusing on innovations in new materials, bionics, image fusion techniques, and digital sensing to meet the evolving needs of doctors and patients globally. The company is headquartered in Hangzhou, China, and its shares are listed on the Hong Kong Stock Exchange.
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