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MPSC Issues Positive Profit Alert for 2017 1H Net Profit Expected to Increase 261%

[2017-08-11] 

Shanghai, China – On August 1, MicroPort Scientific Corporation ("MPSC, or the Company") (HK: 0853) is pleased to announce that based on a preliminary review of the information currently available to the board of directors of the Company ("the Board"), the Company and its subsidiaries ("Group") is expected to record a net profit of approximately USD20 million for the six months ended 30 June 2017, representing an increase of 261% as compared with the net profit of USD5.54 million recorded for the same period of 2016. The significant increase in the unaudited net profit for the six months ended 30 June 2017 is principally attributable to a significant growth in revenue from the cardiovascular and endovascular segments in the China market, and in particular, a significant revenue growth of MPSC's third-generation coronary stent product Firehawk® Rapamycin Target Eluting Coronary Stent System ("Firehawk®"); and a substantial reduction of net loss of the OrthoRecon business due to the improvement in revenue and gross margin.
 
The information contained in this news is a preliminary assessment made by the Board based on the latest management accounts of the Group which have not been audited or reviewed by the independent auditors of the Company. The Company is still in the process of preparing and completing the interim results of the Group for the six months ended 30 June 2017, which is expected to be published before the end of August 2017 and the information disclosed in which shall prevail.

About MicroPort®

MicroPort Scientific Corporation (the "Group") is a leading medical device company with business focusing on innovating, manufacturing, and marketing high-quality and high-end medical devices globally. With a diverse portfolio of products now being used at an average rate of one for every 15 seconds in thousands of major hospitals around the world, the Group maintains world-wide operations in a broad range of business segments including Cardiovascular, Orthopedic, Electrophysiological, Endovascular, Neurovascular, Surgical, Diabetes Care and Endocrinal Management, and others. MicroPort® is dedicated to becoming a patient oriented global enterprise improve and reshape patient lives through application of innovative science and technology.

For more information, please refer to: www.microport.com

Forward-Looking Statements

Some information contained on this website contains forward-looking statements. These forward-looking statements include, without limitation, those regarding our future financial position, our strategy, plans, objectives, goals and targets, future developments in the markets where we participate or are seeking to participate, and any statements preceded by, followed by or that include the words "believe", "intend", "expect", anticipate", "project", "estimate", "predict", "is confident", "has confidence" and similar expressions are also intended to identify forward-looking statements. Such statements are based upon the current beliefs and expectations of MicroPort®'s management and are subject to significant risks and uncertainties. MicroPort Scientific Corporation undertakes no obligation to update any of the statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that could cause actual future results to differ materially from current expectations include, but are not limited to, general industry and economic conditions, PRC governmental policies and regulations relating to the medical device manufacturing industry, competition in the medical device manufacturing industry, our ability to develop new products and stay abreast of market trends and technological advances, our goals and strategies, our ability to execute strategic acquisitions of, investments in or alliances with other companies and businesses, fluctuations in general economic and business conditions in China.

This document is for information purposes only and does not constitute or form part of any offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for any securities of MicroPort Scientific Corporation, and no part of it shall form the basis of, or be relied upon in connection with, any agreement, arrangement, contract, commitment or investment decision in relation thereto whatsoever.

All rights reserved.
Copyright © 2017 MicroPort Scientific Corporation

CONTACT:
Amanda Zhang
Corporate Culture & Public Relations Director
Shanghai MicroPort Medical (Group) Co., Ltd. (HQ)
Tel: (86)(21) 38954600-6989
Email: spokesperson@microport.com

 

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