CardioFlow Medtech reports revenue decline, sustained R&D focus in first half

Shanghai MicroPort CardioFlow Medtech (CardioFlow Medtech) reported a 9.24% decrease in operating revenue for the first half of 2025, reaching 714,429,779.98 yuan, down from 787,174,656.18 yuan in the same period last year. Net profit attributable to shareholders also fell by 22.03% to 314,647,223.94 yuan, while net profit attributable to shareholders after deducting non-recurring gains and losses dropped by 29.96% to 270,825,612.26 yuan. The company attributes these declines primarily to market environment changes in the second half of 2024, leading to adjustments in product pricing and promotional strategies.

Despite the financial downturn, CardioFlow Medtech continues to prioritize innovation, with sustained investment in research and development. Total R&D expenditure for the first half of 2025 amounted to 63,245,938.00 yuan, a 32.92% decrease from the previous year, with R&D expenses as a percentage of operating revenue at 8.85%. This reduction is attributed to optimized R&D team structure and enhanced commercialization potential of projects.

The company's innovative products, including the Castor branched aortic stent graft and delivery system, Minos abdominal aortic stent graft and delivery system, and ReewarmPTX drug-coated balloon dilatation catheter, continue to demonstrate strong market competitiveness. Furthermore, new products such as the Talos straight thoracic aortic stent graft system and Fontus branched intraoperative stent graft system have shown rapid growth in hospital admissions and terminal implantation volumes.