Microport Cardioflow Medtech Corporation · HKEX:2160
Microport Cardioflow Medtech — H1 2021 Earnings Presentation
26 slides from Microport Cardioflow Medtech's earnings presentation, August 2021
Slide 1: 2021 Interim Results Presentation
MicroPort CardioFlow Medtech Corporation 2021 Interim Results Presentation August 2021 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by MicroPort CardioFlow Medtech Corporation (微创心通医疗科技有限公司) (the “Company”) solely for use of 2021 interim results presentation. The information contained in this presentation has not been reviewed by any regulatory authority in any jurisdiction nor inde
Slide 3: Agenda
Agenda Business Highlights 04 Sales & Marketing Review 05-08 Product Pipeline Update 09-14 Financial Review 15-18 Appendix 19-25 3 3
Slide 4: Business Highlights
Business Highlights Extensive nationwide coverage in 29 out of 34 provinces VitaFlow® has been performed at 220 hospitals，↑53% (No.1 in approx. 100 hospitals) Covered 19 out of Top 20 hospitals (market leading position in 10 hospitals) Initiated collaboration with MicroPort’s cardiovascular
Slide 5: Sales & Marketing Review
Sales & Marketing Review 5
Slide 6: Rapid Penetration into Hospitals and Increased Market Share in China
Rapid Penetration into Hospitals and Increased Market Share in China Extensive coverage in China market with presence in 29 VitaFlow® has been performed at provinces and No.1 market share in 5 provinces 220 hospitals1, ↑76 hospitals2 ↑ 53% 144 exclusive hospitals/departments No.1 market share in app
Slide 7: Academic Promotion to Explore and Penetrate New Hospitals in China
Academic Promotion to Explore and Penetrate New Hospitals in China Approx. 110 physicians can independently perform TAVI procedures Approx. 90 physicians can independently perform VitaFlow®, ↑80% (compared to 2020 end) Initiated long-term marketing program Attended 38 academic “VitaFlow® elite compe
Slide 8: Clear Roadmap to Penetrate International Markets
Clear Roadmap to Penetrate International Markets • VitaFlow® completed its first overseas commercial implantation in Argentina • VitaFlow LibertyTM being the only China-developed TAVI product commenced clinical trial in EU , expected to obtain CE Mark in 2022 • Leverage on MicroPort Group’s extensiv
Slide 9: Product Pipeline Update
Product Pipeline Update 9
Slide 10: Comprehensive, innovative and high-quality transcatheter and surgical solutions
Comprehensive, innovative and high-quality transcatheter and surgical solutions for structural heart diseases TAVI TMV Total TAVI solution provider VitaFlow LibertyTM obtained NMPA in Aug 5 products in pipeline, covering both Clinical data shows excellent safety and replacement and repair te
Slide 11: R&D Update and Outlook
R&D Update and Outlook Product Status as at 31 Dec 2020 Progress in 2021 1H Next milestone Expected approval time VitaFlow LibertyTM NMPA application accepted Completed submission of Launch in September Obtained NMPA approval (Retrievable) NMPA supplementary information in August Aortic valve VitaFl
Slide 12: TAVI Products – Total Solution Provider for TAVI Procedures
TAVI Products – Total Solution Provider for TAVI Procedures TAVI families • Strong R&D capabilities to develop all TAVI products in house • Solid R&D progress in 2021 1H and further enrichment of TAVI solutions VitaFlow Liberty™ obtained NMPA approval in August Angelguide ® tip pre-shaped super
Slide 13: TAVI Products - Positive Clinical Trial Results
TAVI Products - Positive Clinical Trial Results VitaFlow® VitaFlow LibertyTM (2nd Generation) Valve Transcatheter Aortic Valve Implantation System Valve Transcatheter Aortic Valve Implantation System 1-year follow-up period 30-day follow-up period 0 moderate or severe PVL 2-year follow-up period 0 m
Slide 14: TMV Products
TMV Products Robust Pipeline Covering All Mainstream Viable TVT Options of Mitral Regurgitation TMV repair In-house development Design confirmed An edge-to-edge product which will adopt a transseptal approach product Prototype received, evaluation undergoing Amend Partnership with Valcare
Slide 15: Financial Review
Financial Review 15
Slide 16: Strong Revenue Growth
Strong Revenue Growth The Company's revenue increased by 122% YOY in 2021 1H. Sales volume increased by 120% in 2021 1H compared to 2020 1H, with relatively stable average unit sales price Revenue Volume (RMB'000) (Unit) Revenue Growth Drivers Overall China TAVI Market Average Monthly Growth Sales
Slide 17: Sharp Gross Profit Growth and Margin Expansion
Sharp Gross Profit Growth and Margin Expansion The Company's gross profit and gross profit margin expanded sharply in 2021 1H due to strengthened bargaining power better cost control and improved manufacturing efficiency. Cost of sales Gross profit and gross profit margin Gross profit margin expansi
Slide 18: Improved Operating Profitability
Improved Operating Profitability We have seen significant improvement in the operating profitability with the percentage of operating expense as of revenue reduced from 178% in 2020 1H to 119% in 2021 1H as illustrated below. R&D Expenses Distribution Costs Administrative Expenses (RMB'000) (RMB'000
Slide 19: Appendix
Appendix 19
Slide 20: Appendix 1: Overview of Product Pipeline
Appendix 1: Overview of Product Pipeline Product Pre-clinical Clinical trial Registration Launched (NMPA Green Path) VitaFlow® Successfully registered in Argentina and Thailand Launched VitaFlow® System Alwide® balloon catheter* Successfully registered in Argentina and Thailand Launched Alpass® cath
Slide 21: Appendix 2: TAVI Products - Clinical Data Comparison
Appendix 2: TAVI Products - Clinical Data Comparison 30-days 1-year 2-year 30-days major 1-year 1-year major moderate to 1-year major 2-year major 3-year 3-year major 4-year 4-year major mortality (disabling) mortality (disabling) severe PVL vascular mortality (disabling) mortality (disabling) morta
Slide 22: Consolidated Income Statement
Consolidated Income Statement For the period ended For the period ended Unit: RMB'000 Var. June 30, 2021 June 30, 2020 Revenue 86,193 38,859 122% Cost of sales -38,682 -21,723 78% Gross profit 47,511 17,136 177% Other net income 8,366 1,357 517% Research and development costs -48,998 -30,323 62% Dis
Slide 23: Consolidated Balance Sheet
Consolidated Balance Sheet Unit: RMB'000 June 30, 2021 Dec 31, 2020 Var. Non-current assets Property, plant and equipment 92,132 68,122 35% Intangible assets 242,427 234,168 4% Interest in a joint venture 33,567 34,007 -1% Other financial assets 86,523 49,508 75% Other non-current assets 31,975 6,40
Slide 24: Consolidated Balance Sheet
Consolidated Balance Sheet Unit: RMB'000 June 30, 2021 Dec 31, 2020 Var. Non-current liabilities Lease liabilities 5,190 8,625 -40% Deferred income 3,560 3,390 5% Derivative financial liabilities 12,973 13,656 -5% Total non-current liabilities 21,723 25,671 -15% CAPITAL AND RESERVES Share capital 83
Slide 25: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement For the period ended For the period Unit: RMB'000 Var. June 30, 2021 ended June 30, 2020 Net cash used in operating activities -44,334 -63,996 -31% Net cash used in investing activities -67,942 -9,789 594% Net cash generated from financing activities 2,282,857 681,08
Slide 26: Our mission
Our mission To provide trustworthy and universal access to state-of-the-art total solutions to treat structural heart diseases Optimal Affordable 26
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