APT Medical (688617) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥1.21 billion, up 21.26% year-over-year, with net profit attributable to shareholders at ¥425 million, up 24.11%.

• Strong growth in both domestic and international markets, with international revenue up 34.56% year-over-year.

• Continued expansion in electrophysiology and vascular intervention product lines, with multiple new product registrations and market launches.

• R&D investment remained high at ¥157 million, accounting for 12.95% of revenue.

Financial highlights

• Operating income: ¥1.21 billion, up 21.26% year-over-year.

• Net profit attributable to shareholders: ¥425 million, up 24.11% year-over-year.

• Operating cash flow: ¥445 million, up 29.45% year-over-year.

• Basic EPS: ¥3.02, up 23.27% year-over-year.

• Gross margin: 73.5% (calculated from revenue and cost figures).

Outlook and guidance

• Management expects continued growth driven by new product launches and increased hospital coverage.

• Ongoing investment in R&D and manufacturing capacity expansion to support future product pipeline.