Guichuang Tongqiao-B (02190) announced the mid-term performance of 2024, with revenue of about 0.366 billion yuan, a year-on-year increase of 59%.
According to the announcement by the Guichuang Tongqiao-B (02190) financial report for the mid-term period ending 2024, the revenue was approximately 0.366 billion yuan, a year-on-year increase of 59%; gross profit was approximately 0.261 billion yuan, a year-on-year increase of 52.9%; profit for the period was 68.865 million yuan, compared with loss of 35.514 million yuan in the same period last year; adjusted profit for the period was 78.171 million yuan, compared with adjusted net loss of 5.522 million yuan in the same period last year; basic earnings per share were 0.2125 yuan.
The significant increase in revenue was mainly due to the rapid growth of sales in the neurovascular and peripheral vascular intervention device division.
During the reporting period, the sales revenue of the neurovascular intervention products increased by 46.7% compared to the first half of 2023, mainly due to the continuous growth of the revenue of major products such as Silver Snake intracranial support catheter, Phoenix intracranial aneurysm embolization coil, Jiaolong Retrieval Device (Jiaolong CRD), and Baiju intracranial PTA balloon catheter (Rx); the company continues to strive to increase the penetration rate of its products in various hospitals; and additional revenue generated by new products such as the Tongqiao Qilin Blood Flow Guidance Device.
During the reporting period, the sales revenue of peripheral vascular intervention products increased by 88.2% compared to the first half of 2023, due to the rapid growth of sales revenue of UltraFree drug-eluting PTA balloon catheter (UltraFree DCB), ZENFLOW peripheral PTA balloon catheter, ZENFLOW high-pressure PTA balloon catheter, and ZYLOX Swan intravenous radiofrequency closure catheter. This growth was due to the company's continuous efforts to expand market access, increase hospital penetration rate, and expand its distribution network; and the company's continuous enrichment of peripheral disease treatment product portfolio, especially the commercialization of ZYLOX Penguin femoral vein stent system and ZYLOX Phoenix peripheral detachable fibrous cap embolization system, which generated additional revenue in the first half of 2024.