Zylox-tonbridge Medical Technology Co., Ltd. Class H · HKEX:2190
Zylox-tonbridge Medical Technology Co., Ltd. Class H — FY2024 Earnings Presentation
28 slides from Zylox-tonbridge Medical Technology Co., Ltd. Class H's earnings presentation, March 2025
Slide 1: 2024 Annual Results Presentation
Zylox-Tonbridge（2190.HK） 2024 Annual Results Presentation March 2025
Slide 2: Disclaimer
2 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 purchas
Slide 3: Leading Player in Neuro- and Peripheral Vascular Interventional Medical Device Market in China
3 Leading Player in Neuro- and Peripheral Vascular Interventional Medical Device Market in China Neuro- Vascular Peripheral Neurovascular vascular closure vascular Intervention Aging Trend Vascular Intervention Peripheral Industry vascular Transformation Intervention VBPs Innovation Nears End Breakt
Slide 4: Business Highlights
Business Highlights Seizing VBPs Opportunity for Rapid Hospital 2024 Revenue Growth Continues Access and Product Volume Expansion ◼ Covering Over 3,000 Hospitals with Over 80,000 First Full-Year Profit Over 100 million RMB Clinical Product Uses ◼ 10 VBPs in 2024 with Impressive Bidding Results,36 20
Slide 5: Financial Highlights
Financial Highlights • Industry-leading growth , turned profitable
Slide 6: Product Portfolio and Commercialization Drive Rapid Growth and Profitability
Product Portfolio and Commercialization Drive Rapid Growth and Profitability Rapid Revenue Growth from 20211 Net Profit / (Loss ) 2 (in RMB million) (in RMB million) Gross 74.1% 75.6% 72.9% 71.6% 2021 2022 2023 2024 Profit Margin： 782.5 2021-2024CAGR: 64% 252.4 527.8 124.0 100.3 144.7 334.1 7.0 100.
Slide 7: Neurovascular - Steady Revenue Growth
Neurovascular - Steady Revenue Growth Revenue of Neurovascular Products Main Source of Revenue (in RMB million) Gross Thrombite SilverSnake Profit 63.1% 69.9% 72.3% 67.5% Clot Intracranial Margin： Retriever Support Catheter Device 528.5 2021-2024CAGR: 38.4% 68% Phoenix 381.8 Baiju Detachable Coil In
Slide 8: Peripheral-vascular - Rapid Revenue Growth
Peripheral-vascular - Rapid Revenue Growth Revenue of Peripheral-vascular Products Main Source of Revenue (in RMB million) Drug Coated PTA Balloon PTA Balloon Catheter& % of Revenue : 36.9% 30.1% 27.4% 32.3% Catheter High Pressure PTA Balloon Catheter 252.4 2021-2024CAGR: 74.5% 58% 144.7 Retrievable
Slide 9: Increased Operational Efficiency in Line with Business Development
Increased Operational Efficiency in Line with Business Development Selling and Distribution R&D Expenses Administrative Expenses Expenses % of Revenue % of Revenue % of Revenue 94% 70% 57% 54% 49% ↓20% 42% ↓9% 33% ↓10% 31% 30% 22% 22% 12% 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 A
Slide 10: 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 Trade Receivables 2024 Cash Status Activities Turnover (in RMB million) (in RMB million) (Turnover Days ) 2,577 2,510 174 98 174 0.8 0.8 0.6 2022 2023 2024 2023 2024 End of 2023 (42) End of 2024
Slide 11: Sales and Marketing
Sales and Marketing • Embrace Procurement, Boost Efficiency
Slide 12: Vascular Intervention VBPs Nears Completion, Set to Cover Entire Cardiovascular Industry
Vascular Intervention VBPs Nears Completion, Set to Cover Entire Cardiovascular Industry 1 2020-2023 2024 2025 Apr Jul - Sep Dec Jan Upcoming Coil(Jilin Peripheral Flow Suture- DCB Suture- Peripheral Emboliz and 21 Intracranial Venous Diverter mediated Clot mediated Artery ation Closure Provinces, (
Slide 13: 2024 VBPs Results Stand Out, Boosting Growth
2024 VBPs Results Stand Out, Boosting Growth ◼ Selection rules are more moderate, avoiding elimination; Price ranking drives volume Observation allocation and hospital access. of VBPs Rules ◼ Procurement volume closely matches product demand vs. fixed market share ◼ Comprehensive capabilities (marke
Slide 14: Rapid Growth Achieved through Implementation of VBP
Rapid Growth Achieved through Implementation of VBP Rapid Increase in Sales Market Share Increased Volume 2%→10%+ 3.5x After Implementation of After Implementation of DCB Intracranial Coil VBP Hebei-Sanming Alliance VBP Excellent Quality X Strong Sales X Efficient Rapid Increase in Sales Operations
Slide 15: Peripheral Vascular Intervention Business - Revenue Growth Engine
Peripheral Vascular Intervention Business - Revenue Growth Engine Building Academic Brand, Exploring New Peripheral Tech 2024 74.5% YoY Growth, Outpacing Industry All Products Excel in VBPs Bidding Product Quality on Par with Global Brands Academic Leadership, Market Cultivation 2025 Arteries: Compr
Slide 16: Neurovascular Intervention Business – Revenue Growth Engine
Neurovascular Intervention Business – Revenue Growth Engine Support Activities for Doctor Training 2024 38.4% YoY Growth, Leading Industry VBPs Implementation : 3x Usage Increase All Products Excel in VBP Bidding Frequent, High-Quality Industry Events Enhanced Brand and Market Share 2025 2025 2024 S
Slide 17: Accelerate the Expansion of Overseas Products and Distributors
Accelerate the Expansion of Overseas Products and Distributors 20 Products Commercialized (8 with CE MARK) Plus 14 More by 2025 (11 Countries/Regions) Europe 22.6 2021-2024CAGR: 87% 14.3 India Brazil 7.8 3.5 South Africa Commercialized Regions Targeted Regions ▪ Focus on developing European and BRIC
Slide 18: R&D
R&D • Continuous Innovation • Lean Management
Slide 19: Lay out 66 Products and Candidates, of which 47 Commercially Launched in China
Lay out 66 Products and Candidates, of which 47 have been Commercially Launched in China Neurovascular Interventional Peripheral-Vascular Interventional and Vascular Portfolio Closure Devices Portfolio Intracranial Carotid Vascular Intracranial Hemodialysi Hemorrhagic Artery Arterial Venous Closure
Slide 20: Committed to Leveraging AI Technology to Enhance Surgical Outcomes
Committed to Leveraging AI Technology to Enhance Surgical Outcomes Real-time Imaging of the Treatment Area + Targeted Rotational Cutting • Visualized Targeted Rotational Cutting MEDIA • Precise and Efficient EEL • Reducing the Risk of Arterial Damage • Achieving Longer-Lasting Vascular Patency Rate
Slide 21: Neurovascular Interventional Portfolio – Future Key Products
Neurovascular Interventional Portfolio – Future Key Products Embolization Assist Stent Drug Coated Self-expandable Intracranial Stent • Indications Self-expandable Intracranial Stent Rapamycin ✓ Intracranial Hemorrhagic Stroke. It is often used in combination with a coil for the surgical treatment o
Slide 22: Lean operations, Driving Efficiency Through Automation and Digitization
Lean operations, Driving Efficiency Through Automation and Digitization Economies of Scale + Supply Chain Optimization • Enhanced procurement bargaining power • Increased domestic sourcing rate for core materials • Optimized supplier structure to continuously improve quality • Shortened delivery tim
Slide 23: Prospects
Prospects • Clear Strategy • Effective Implementation
Slide 24: Development Strategy: VBPs + International Expansion + Innovation
Development Strategy:VBPs + International Expansion + Innovation Leveraging a comprehensive product portfolio Utilize VBPs to expand market share VBPs Continuous Innovation + Embrace AI to accelerate intelligent solutions Lean Production Lean . Production High-Value Medical Device Enhance overall op
Slide 25: Financial Reports
Financial Reports JEM YGF INNOVATION FOR QUALITY LIFE
Slide 26: Consolidated Balance Sheet
Consolidated Balance Sheet As at RMB’000 31-Dec-2021 31-Dec-2022 31-Dec-2023 31-Dec-2024 Non-current assets Property, plant and equipment 178,270 290,243 538,540 628,253 Right-of-use assets 34,115 48,136 39,820 37,251 Intangible assets 4,889 9,637 9,686 28,010 Prepayments and other receivables 6,804
Slide 27: Consolidated Balance Sheet
Consolidated Balance Sheet As at RMB’000 31-Dec-2021 31-Dec-2022 31-Dec-2023 31-Dec-2024 Non-current liabilities Deferred revenue 0 0 8,674 15,885 Lease liabilities 6,509 7,459 1,859 1,502 Total non-current liabilities 6,509 7,459 10,533 17,387 Current liabilities Trade and other payables 86,307 126
Slide 28: Consolidated Statements of Profit or Loss
Consolidated Statements of Profit or Loss Year ended December 31 % of % of RMB’000 2021 % of Revenue 2022 2023 2024 % of Revenue Revenue Revenue Revenue 177,912 100% 334,090 100% 527,754 100% 782,476 100% Cost of sales -46,031 -26% -81,421 -24% -142,766 -27% -222,581 -28% Gross Profit 131,881 74% 25
Zylox-Tonbridge Medical Technology — FY2024 Earnings Presentation on 6ix