Rainmed Medical (2297) H2 2023 earnings summary

Executive summary

• FY2023 revenue fell 12.4% YoY to RMB73.2m; gross profit declined 30.4% to RMB48.6m, and gross margin contracted to 66.3%.

• Loss attributable to shareholders narrowed to RMB115.8m from RMB1,346.0m, mainly as the prior-year preferred-share fair-value loss did not recur.

Financial highlights

• Adjusted non-HKFRS loss attributable to shareholders was RMB108.3m, versus RMB100.9m in 2022; adjusted loss per share was RMB0.09 versus RMB0.11.

• Reported basic and diluted loss per share was RMB0.10, compared with RMB1.50 in 2022.

Outlook and guidance

• 2024 priorities include strengthening FFR and IMR competitiveness, expanding IVD coverage, developing overseas markets and increasing mainland China penetration, with a goal of healthy, high-quality growth.

• caFFR indication-expansion work targets acute STEMI, acute NSTEMI and HFpEF; caIMR expansion includes STEMI after successful revascularization.