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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.
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.
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