Zylox-tonbridge Medical Technology Co., Ltd. Class H · HKEX:2190
Zylox-tonbridge Medical Technology Co., Ltd. Class H — FY2025 Earnings Presentation
31 slides from Zylox-tonbridge Medical Technology Co., Ltd. Class H's earnings presentation, March 2026
Slide 1: 2025 Annual Results Presentation
Zylox-Tonbridge（2190.HK） 2025 Annual Results Presentation March 2026
Slide 2: Contents
CONTENTS Financial Highlights Sales and Marketing R&D Prospects
Slide 3: Disclaimer
Disclaimer This presentation has been delivered to interested parties for information purposes only and upon the express understanding that such parties will use it only for the purposes set forth above, and it is not intended to form the basis of any investment decision or any decision to purchase
Slide 4: Leading Player in Neuro- and Peripheral Vascular Interventional Medical Device Market in China
Leading Player in Neuro- and Peripheral Vascular Interventional Medical Device Market in China Aging Trend Neurovascular Intervention Neuro-vascular Vascular Peripheral vascular Intervention Industry Transformation VBPs Nears Innovation End Breakthrough Peripheral vascular Intervention 79Approved &
Slide 5: Business Highlights
Business Highlights Rapid Revenue & Profit Growth Business Progress (in RMB million) - Annual revenue exceeds 1 billion RMB Revenue 1,057.5 - Over 1.1 million units used in clinical practice Net Profit - 4 new products entered the NMPA Special Review 782.5 Procedure for Innovative Medical Devices In
Slide 6: Financial Highlights
” ZYLOX (\ TONBRIDGE O71 Financial Highlights
Slide 7: Optimize portfolio, achieve high growth and steady profit
Optimize portfolio, achieve high growth and steady profit Rapid Revenue Growth Since Net Profit / (Loss ) 2 Commercialization1 (in RMB million) (in RMB million) Gross Profit 75.6% 72.9% 71.6% 72.1% 2022 2023 2024 2025 Margin： 1,057.5 273.1 2022-2025CAGR: 244.4 47% 379.4 782.5 124.0 252.4 100.3 527.8
Slide 8: Neurovascular - Steady Revenue Growth
Neurovascular - Steady Revenue Growth Revenue of Neurovascular Products Main Source of Revenue (in RMB million) % of Revenue : 69.9% 72.5% 67.7% 64.1% Flow Intracranial Diverter Support Catheter 676.3 2022-2025CAGR: 28.0% 43% 528.5 381.8 Detachable Coil Clot Retriever Neurovascular System (I & II) D
Slide 9: Peripheral-vascular - Rapid Revenue Growth
Peripheral-vascular - Rapid Revenue Growth Revenue of Peripheral-vascular Products Main Source of Revenue (in RMB million) % of Revenue : 30.1% 27.5% 32.3% 35.9% Endovenous Drug Coated PTA Balloon Radiofrequency 379.4 Catheter Ablation (RFA) 50.3% Catheter 2022-2025CAGR: 56% 252.4 PTA Balloon Retrie
Slide 10: Leverage scale advantages, continuously improve operational efficiency
Leverage scale advantages, continuously improve operational efficiency Selling and Distribution R&D Expenses Administrative Expenses Expenses % of Revenue % of Revenue % of Revenue 70% 49% 42% ↓4% ↓7% 31% 33% 30% ↓1% 22% 23% 22% 18% 12% 11% 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025
Slide 11: Sufficient Cash and Efficient Operations to Support Rapid Growth in the Coming Years
Sufficient Cash and Efficient Operations to Support Rapid Growth in the Coming Years Cash From Operating Activities 2025 Cash Status (in RMB million) (in RMB million) 385 2,600 2,510 174 2024 2025 End of 2024 End of 2025 Net cash generated from operating activities Net cash used in investing activit
Slide 12: Sales and Marketing
” ZYLOX () TONBRIDGE Sales and Marketing
Slide 13: VBPs: Process Nears Completion
VBPs: Process Nears Completion Key VBPs Completed Upcoming VBPs 2022 2023 2024 2025 2026 Intracranial Intracranial Vascular Neuro Coils:Jilin 21- Intracranial Flow Diverter : Support PTA Balloon : Closure Device: Access Province Hebei Alliance DCB: Support Catheter: Hebei Alliance Henan Alliance Cat
Slide 14: Global Deep Dive, Sustained Peripheral Business Growth
Global Deep Dive, Sustained Peripheral Business Growth Full-Scale Layout · Breakthrough Innovation Consolidate domestic leadership Secure procurement portfolio Full domestic coverage Innovation drives long-term growth
Slide 15: Neurointervention Leads Growth, Global Expansion Builds Momentum
Neurointervention Leads Growth, Global Expansion Builds Momentum Brand Power · Growth Leadership Lead domestic market Rapid hospital growth, rising share Global Footprint in Neurointervention Solid pipeline for long-term growth
Slide 16: Overseas Dual Engines: Organic Growth & M&A Expansion
Overseas Dual Engines: Organic Growth & M&A Expansion LINC WLNC- OCIN Organic Growth Strategy PAI RS Phase 1 (2025) CIC E Rapid Growth & Market Penetration: IndoV ASC Multi-channel, global registration, GPO, tender & hospital access ESOC Phase 2 (2026) LINNC Paris Operational Excellence & Trust
Slide 17: Diversified Global Market Expansion
Diversified Global Market Expansion Brand & Product Value • Historic German brand, driving Endovastec’s global recognition. • Sell existing & future products via Optimed, accelerating penetration in Europe. Market Penetration • Expand global commercial team. • Approved registrations & robust pipelin
Slide 18: R&D
” ZYLOX (\ TONBRIDGE 03 R&D
Slide 19: Lay out 79 Products and Candidates, of which 61 Commercially Launched in China
Lay out 79 Products and Candidates, of which 61 have been Commercially Launched in China Peripheral-Vascular Interventional and Vascular Neurovascular Interventional Portfolio Closure Devices Portfolio Intracranial Intracranial Carotid Hemodia Peripheral Vascular Intracranial Embolization Ischemic H
Slide 20: FALCO: China's 1st DFT Intracranial Aneurysm Embolization Assist Stent
FALCO : China's 1st DFT Intracranial Aneurysm Embolization Assist Stent DFT (Nitinol-Platinum Coated) Full radiopacity for accurate stent deployment & apposition, 4 markers for precise positioning “Lantern Flexible braided design for tortuous anatomy Technique” 20% Metal Coverage 12-month comple
Slide 21: Mammoth: China's First Large-Cal Aspiration Catheter for Large-Load Thrombus
Mammoth: China’s First Large- Cal Aspiration Catheter for Large- Load Thrombus Mammoth combines Hagen-Poiseuille Law & Venturi Effect for Exclusive Large-Cal Aspiration Catheter "Dual Adsorption Effect", boosting thrombus capture efficiency. China’s only large-bore catheter (12F–18F). 3.5x coverag
Slide 22: Entering the Hemodialysis Access Market
Entering the Hemodialysis Access Market Hemodialysis Access Management Solution ZENFlow Pufferfish KINGKONG Scoring Balloon Catheter Peripheral High-Pressure Clinical Needs Balloon Catheter Stenosis (up to 90%) is the most common Hemodialysis access complication. 1 Patency maintenance is critical.
Slide 23: Core Tool for Combating Cerebrovascular Malformations
Core Tool for Combating Cerebrovascular Malformations Indications Liquid Embolic System Core Non-Adhesive Embolic Product Use: Embolization for bAVM & DAVF bAVM: Vascular malformation→ ICH(intracranial hemorrhage) . 25-35% of young adult strokes (2nd leading cause of ICH, after hypertension).
Slide 24: Solving Challenges in Bifurcation Wide-Necked Aneurysms
Solving Challenges in Bifurcation Wide-Necked Aneurysms Recognized Treatment Challenge Ideal for Wide-Neck Bifurcation Aneurysms. Bifurcation Self-expandable Aneurysm Embolization Device aneurysms(40-60% of intracranial cases) Complex Shapes, Turbulent Flow, High Rupture Risk & Challenging Treat
Slide 25: Deepen with Integrity and Innovation, Progress Steadily for the Long Term
Deepen with Integrity and Innovation, Progress Steadily for the Long Term Products below received NMPA Innovative Medical Device Designation (2025-Feb 2026) Orca™ Otter™ Self-expandable Carotid Artery Double- Balloon Expandable Thrombectomy Aneurysm Embolization Layer Dense Mesh Stent Covered Stent
Slide 26: Prospects
O04 Prospects
Slide 27: Development Strategy: International Expansion+Innovation+VBPs
Development Strategy : International Expansion+Innovation+VBPs Accelerate Global Expansion, Driven by Internal Growth & Investment, Leveraging Product Strength Continuous Innovation & AI Empowerment, Building a VBPs Lean International Smart Solution Ecosystem Production Global High-Value Market Medi
Slide 28: Thank You
THANK YOU
Slide 29: Consolidated Balance Sheet
Consolidated Balance Sheet As at RMB’000 31-Dec-2022 31-Dec-2023 31-Dec-2024 31-Dec-2025 Non-current assets Property, plant and equipment 290,243 538,540 628,253 666,122 Right-of-use assets 48,136 39,820 37,251 36,368 Intangible assets 9,637 9,686 28,010 40,743 Deferred tax asset - - - 7,630 Prepaym
Slide 30: Consolidated Balance Sheet
Consolidated Balance Sheet As at RMB’000 31-Dec-2022 31-Dec-2023 31-Dec-2024 31-Dec-2025 Non-current liabilities Deferred revenue - 8,674 15,885 16,746 Lease liabilities 7,459 1,859 1,502 1,349 Total non-current liabilities 7,459 10,533 17,387 18,095 Current liabilities Trade and other payables 126,
Slide 31: Consolidated Statements of Profit or Loss
Consolidated Statements of Profit or Loss Year ended December 31 % of % of % of RMB’000 2022 Revenue 2023 Revenue 2024 Revenue 2025 % of Revenue Revenue 334,090 100% 527,754 100% 782,476 100% 1,057,488 100% Cost of sales -81,421 -24% -142,766 -27% -222,581 -28% -294,570 -28% Gross Profit 252,669 76%
Zylox-Tonbridge Medical Technology — FY2025 Earnings Presentation on 6ix