Xinwei Medical's 2025 performance shines: Three major business segments work together, overseas revenue doubles.

Heartway Medical-B (HK6609) recently announced its fiscal year 2025 performance report, showing that the company achieved revenues of 408 million RMB for the year, an increase of 46.9% compared to the previous year; net profit attributable to shareholders reached 83.35 million RMB, successfully reversing the previous loss situation. This performance breakthrough is attributed to the synergistic development of three core business segments and a significant improvement in operational efficiency, with ischemic stroke, hemorrhagic stroke, and interventional access businesses all showing strong growth trends.

In the ischemic stroke field, the company’s differentiated technological advantages continue to be released. The self-developed intracranial thrombectomy catheter has received widespread clinical recognition thanks to its large lumen aspiration and cascade aspiration technology (CATCH), which has been included in the “Expert Consensus on Endovascular Treatment Techniques for Acute Ischemic Stroke in China 2025,” facilitating product entry into over 450 hospitals nationwide. At the same time, sales of mature products included in centralized procurement have seen explosive growth, driving revenue in this business segment up by 31.8% year-on-year.

The hemorrhagic stroke business became the biggest highlight of the year, with revenue skyrocketing by 223.2% year-on-year. The complete aneurysm treatment solution developed by the company has shown significant results, and the intracranial stent recognized as an innovative medical device by NMPA entered approximately 500 hospitals in its first commercial year, effectively driving rapid increases in market share for embolization coils. Notably, the newly approved blood flow-directed device in 2025 completed clinical promotion, further consolidating the company’s technological barriers in this field.

The interventional access business continued its steady growth, with the star product vascular occluder reaching an end-user volume of over 200,000 units by year-end, covering more than 1,800 hospitals, and single product revenue surpassing 100 million RMB. The company is simultaneously advancing the R&D and commercialization process of the second-generation vascular occluder, continuously expanding market share through technological iteration. The scale effect of this business segment has provided important support for the overall improvement of the company’s profitability.

The internationalization strategy has made breakthrough progress, with overseas market revenue doubling year-on-year. The company is accelerating global product registration, with core products such as thrombectomy stents and occlusion balloon catheters obtaining CE and FDA certification, and 56 registration certificates obtained in 13 countries. Currently, the company is promoting over 130 product registrations in 29 countries and regions, laying the foundation for long-term overseas business growth by building diversified sales channels.

Optimization of R&D costs and improvement in operational efficiency have become key factors in profit enhancement. During the reporting period, the company’s R&D expenditure decreased by 30.8% year-on-year to 40.761 million RMB, achieving efficient conversion of technological results through precise investment strategies. Gross profit level increased by 59.3% year-on-year to 290 million RMB, with basic earnings per share reaching 2.21 RMB, and all financial indicators showing a positive trend.