Company Announcements

HONG KONG, Aug. 29, 2025 /PRNewswire/ -- LifeTech Scientific Corporation ("LifeTech" or the "Company", together with its subsidiaries, the "Group", stock code: 1302.HK), a medical device company specializing in minimally invasive interventional solutions for cardio-cerebrovascular and peripheral vascular diseases, today announced its unaudited consolidated results for the six months ended 30 June 2025 (the "Reporting Period").

Revenue Growth: The Group achieved revenue of approximately RMB676.7 million during the Reporting Period, representing a year-on-year increase of approximately 3.7%.

Stable Profitability: Gross profit was approximately RMB497.8 million. Excluding certain non-recurring items^[1], net profit attributable to owners of the Company was approximately RMB238.5 million, representing a year-on-year increase of approximately 2.1%.

Strong Cash Position: As at 30 June 2025, the Group's cash and cash equivalents amounted to approximately RMB782.6 million, representing an increase of approximately 17.5% compared with 31 December 2024.

Note [1]: Such non-recurring items include (i) the other gains arising from financial assets at fair value through profit or loss ("FVTPL"); and (ii) the share-based payment expenses.

Increase in Both Domestic and Overseas Sales

In the first half of 2025, the Group continued to implement a proactive and prudent development strategy, with a strong focus on addressing unmet clinical needs worldwide. By leveraging its synergies in branding, intellectual property, distribution, clinical registration, and global operations, the Group strengthened its long-term growth fundamentals and achieved sales growth in both domestic and overseas markets, driven by an expanding portfolio of innovative products and professional academic services.

China's mainland remained the foundation and largest market of the Group, where the sales generated accounted for approximately 74.1% of the total revenue of the Group during the Reporting Period. The Group continued to deepen its presence in the mainland China market, achieving a sales increase of approximately 2.2% year-on-year in the first half of 2025.

Meanwhile, overseas business maintained its upward momentum. Benefiting from proactive expansion and effective marketing strategies, the Group's overseas sales grew by approximately 8.0% year-on-year. Asia (excluding China's mainland) and Europe were the two largest overseas markets of the Group, where the sales generated accounted for approximately 11.4% and 11.0%, respectively, of the total revenue.

Core Business Demonstrated Resilience

The Group currently has three main product lines, covering the Structural Heart Diseases (SHD) business, the Peripheral Vascular Diseases (PVD) business and the Cardiac Pacing and Electrophysiology (CPE) business.

The revenue of the Group was approximately RMB676.7 million during the Reporting Period, representing a year-on-year growth of approximately 3.7%. The revenue increase was primarily driven by the sales increase of stent grafts and left atrial appendage (LAA) occluders, which rose by approximately 9.6% and 14.7% year-on-year, respectively.

SHD Business
The Group has established a diversified product portfolio in the SHD business, mainly including LAA occluders and three generations of congenital heart diseases occluders, aiming to address various market demands through differentiated product strategies.

During the Reporting Period, the sales contributed by the SHD business were approximately RMB271.5 million, representing a year-on-year increase of approximately 0.1%. Continuous technological innovation and product upgrades will further enrich the Group's SHD product portfolio and enhance its global sales layout.

PVD Business
The Group is committed to providing patients worldwide with technology-leading systematic and comprehensive interventional medical devices solutions of PVD. The products offered by the Group in the PVD business mainly include vena cava filters, thoracic aortic stent grafts, abdominal aortic stent grafts, iliac artery bifurcation stent grafts, aortic stent graft systems and aortic arch stent graft systems.

During the Reporting Period, the sales contributed by the PVD business were approximately RMB391.7 million, representing a year-on-year growth of approximately 2.9%.

CPE Business
The Company is the first manufacturer in China that has a complete product portfolio of domestic implantable cardiac pacemakers with international-level technology and functions.

During the Reporting Period, the sales contributed by the CPE business were approximately RMB13.5 million, representing a significant year-on-year growth of approximately 1,400.0%.

R&D and Commercialization Progress

The Group is committed to independent innovation, aiming to provide medical devices that deliver exceptional clinical value to physicians and patients while enhancing its long-term competitiveness.

In the first half of 2025, the R&D investment (including capitalized expenditure) of the Group amounted to approximately RMB156.0 million, leading to the following key milestones:

• Aortic Stent Graft System (consists of the Ankura™ Pro Aortic Stent Graft System and Longuette™ Aortic Branch Stent Graft System), Aortic Arch Stent Graft System (consists of the Ankura™ Plus Aortic Arch Stent Graft System and CSkirt™ Aortic Arch Branch Stent Graft System), Peripheral Balloon Dilatation Catheter (Large diameter), Yoscop™ Multi-loop Snare System and SteerEase™-m Introducer have obtained the National Medical Products Administration ("NMPA") certification;
  
  
• IrisFit™ PFO Occluder and SteerEase™ Introducer have obtained the CE MDR (Medical Device Regulation) certification. Such products have previously obtained the CE MDD (Medical Device Directive) certification;
  
  
• Thoracoabdominal Artery Stent Graft System (consists of the G-Branch™ Thoracoabdominal Aortic Stent Graft System, SilverFlow™ PV Peripheral Vascular Stent Graft System and Aortic Extension Stent Graft System) and Iliac Bifurcation Device (consists of the G-iliac™ Pro Iliac Bifurcation Stent Graft System and SilverFlow™ Pro Internal Iliac Stent Graft System), etc. are pending registration approval in China;
  
  
• Aortic Stent Graft System (consists of the Ankura™ Pro Aortic Stent Graft System and Longuette™ Aortic Branch Stent Graft System), Fitaya™ Vena Cava Filter System, Futhrough™ Stent Graft Balloon Catheter, Yuranos™ Abdominal Aortic Stent Graft System and G-iliac™ Iliac Bifurcation Device are pending registration approval of CE certification;
  
  
• Concave Supra-arch Branched Stent-Graft System, X-Clip™ Mitral Valve Clip System and Aortic Arch Single Branch Stent Graft System (consists of the Aortic Arch Stent Graft System and Aortic Branch Stent Graft System) are currently at the stage of pre-registration clinical enrollment in China;
  
  
• Cera™ PFO Occluder has completed pre-marketing clinical enrollment and is currently under clinical follow-up in China;
  
  
• IBS Titan™ Sirolimus-Eluting Iron Bioresorbable Peripheral Scaffold System is currently at the stage of clinical enrollment in China and in Europe, and its CE registration application has been submitted; and
  
  
• IBS™ Sirolimus-Eluting Iron Bioresorbable Coronary Scaffold System has successfully completed the five-year follow-up of the phase I clinical study and the two-year follow-up of the phase II and III clinical study, further confirming its safety and efficacy. Additionally, its CE and NMPA registration application have been submitted.

Intellectual Property Rights

Intellectual property is an internal driving force to improve our core competitiveness in the medical device market. As at 30 June 2025, the Group had filed a total of 2,464 valid patent applications worldwide, of which 1,123 patents had been granted.

Strategic Collaboration to Enter Electrophysiology Market

On 6 June 2025, the Company, through its wholly-owned subsidiary LifeTech Shenzhen, entered into a series of agreements to invest RMB150.0 million in Affector Medtech (Suzhou) Ltd., ("Affector Medtech"), a high-tech company specializing in electrophysiology and innovative medical devices.

The investment will be carried out in stages, subject to the achievement of certain milestones as set out in the investment agreement. As at the date of the Group's 2025 interim results announcement, the first stage of the investment has been completed, and Lifetech Shenzhen has acquired a 22.22% equity interest in Affector Medtech. After completion of all stages of the investment, Lifetech Shenzhen will be entitled to 30% of the equity interest in Affector Medtech.

The two parties will focus on the research, development, and commercialization of innovative products and advanced technologies in the field of cardiac electrophysiology, accelerating global breakthroughs in domestically innovated products in cardiac electrophysiology.

The Chairman and CEO of LifeTech, Mr. XIE Yuehui Said:

In the first half of 2025, through our continuous efforts in R&D, channel expansion, production quality control, and internal management, our market foundation has been further strengthened, our globalization process has deepened, and the clinical translation of our product R&D has achieved milestones, demonstrating our strong business resilience. At the same time, the strategic investment in Affector Medtech has opened up vast opportunities in the high-growth electrophysiology market, which will further expand our growth potential with significant synergistic effects.

Guided by our two core development strategies of "innovation" and "internationalization", we will continuously stimulate our business vitality in the global market and accelerate product development alongside the clinical application of new technologies to benefit more patients worldwide. Leveraging our strong technological capabilities and differentiated portfolio of innovative products, we are poised to capture a larger global market share and further solidify our industry leadership.

Meanwhile, we will strategically position ourselves to capture new growth opportunities worldwide, continuously enhance our resource integration capabilities, strengthen internal and external collaboration, and maintain a prudent yet efficient business operation and capital allocation strategy to advance the company toward higher-quality sustainable development and create long-term value for patients, healthcare providers, shareholders, and all other stakeholders.

About LifeTech Scientific Corporation

Established in 1999 in Shenzhen, China, LifeTech Scientific Corporation (Stock Code: 1302.HK) specializes in the R&D, manufacturing, and sales of minimally invasive interventional medical devices for the treatment of cardio-cerebrovascular and peripheral vascular diseases. The Company offers innovative solutions for structural heart diseases, peripheral vascular diseases, bradycardia, and neurovascular conditions. It also possesses the world's first innovative iron-based bioabsorbable material technology platform.

Guided by the core strategy of "innovation" and "internationalization", LifeTech maintains a leading market position for its key products in the home country and has established 7 subsidiaries overseas, extending its sales network to nearly 120 countries and regions worldwide.

 

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SOURCE LifeTech Scientific Corporation