Zhitong Financial News, MicroPort Medical (00853) announced that in 2023, under the influence of complex and changeable unfavorable factors at home and abroad, the group's sales revenue will still achieve a year-on-year increase of more than 15% (the revenue growth rate and the revenue growth rate listed in this announcement have excluded the impact of exchange rates), the growth is mainly due to:
i) Driven by the launch of new products and commercialization, the separately listed subsidiaries further increased their market share and achieved rapid revenue growth, among which the revenue of Shanghai MicroPort Cardio Medical Technology (Group) Co., Ltd. *** artery and peripheral vascular intervention business increased by more than 32% year-on-year, the revenue of MicroPort Neurointervention Business increased by approximately 22% year-on-year, the revenue of MicroPort CardioFlow Medical Technology *** heart valve business) increased by approximately 31% to 36% year-on-year and Shanghai MicroPort Medical Robot (Group). Shares of *** surgical robot business) revenue increased by more than 350% year-on-year;
ii) the Group's other major businesses further strengthened their competitive advantages and achieved stable revenue growth;
iii) Emerging businesses continued to drive commercialisation, with exponential revenue growth.
Benefiting from the improvement in profitability due to the significant increase in revenue from the Group's major businesses, as well as the Group's active implementation of resource focus and cost saving measures, and continuous improvement of operational efficiency and profitability, the Group expects to achieve an annual loss of no more than 5$800 million (annual loss of $5.8 billion in the same period last year.)$8.8 billion). The annual loss, excluding one-time and/or non-cash provisions and losses, shall not exceed 4$3.6 billion (annual loss excluding one-time and/or non-cash charges and losses of approximately $5.6 billion in the year-ago quarter.)US$2.5 billion), a year-on-year decrease of more than 13%. The above-mentioned one-time and/or non-cash provisions and losses mainly include impairment losses on investee companies and goodwill measured by the equity method, share-based remuneration and accrued interest costs on preferred shares issued by subsidiaries.
In the future, the Group will pay full attention to the health of its financial statements and the adequacy of its cash flow, and aim to significantly reduce losses and achieve breakeven in the coming years by focusing on its business, increasing revenue, and reducing related expense ratios such as R&D expenses.