According to the Zhitong Finance App, Xinwei Medical-B (06609) announced the results for the year ended December 31, 2023. The group achieved revenue of 232 million yuan (RMB, same below) during the period, an increase of 26.9%; losses attributable to owners of the parent company were 94.012 million yuan, a year-on-year decrease of 53.08%; and a basic loss of 2.47 yuan per share.
In order to adapt to the rapidly changing market environment and the advancement of industry procurement, the company continues to promote the upgrading of the neurointerventional business to focus on therapeutic devices. Neurointerventional therapy devices such as embolization stents and suction catheters, dilated balloons and embolization protection systems, and spring rings contributed 42.3% of sales revenue (2022:33.0%), and revenue increased 62.9% year over year to 98.2 million yuan; neurointerventional pathway devices and other products increased 9.3% year over year to 134 million yuan.
The company's R&D cost is 124 million yuan to support diversified research projects for neurointerventional devices. In the next 24 months, the company expects to launch at least 5 major neurointerventional devices, including drug balloons for stenosis treatment (NMPA innovative device qualification), self-inflating drug stents and carotid artery stents, aneurysm embolization support stents (NMPA innovative device qualification) for hemorrhagic stroke treatment, and blood flow guidance devices. At the same time, in response to emergency surgery needs for different subtypes of cerebral infarctions, the company enhances the competitiveness of key embolization products (suction catheters and embolization stents) and one-stop medical device solutions to meet the growing demand for stroke treatment in the Chinese market in the context of aging.