Microport Scientific Corp. · HKEX:853
Microport Scientific — H1 2021 Earnings Presentation
27 slides from Microport Scientific's earnings presentation, Aug 31, 2021
Slide 1: MicroPort Scientific Corporation 2021 Interim Results
MicroPort Scientific Corporation 2021 Interim Results 31 August 2021
Slide 2: Disclaimer
Disclaimer 2021 Interim Results 31 August 2021 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
Slide 3: Contents
Contents 1 Interim Result Highlights 2 Financial Review 3 Business Review 4 Outlook 5 Appendix – Financial Statements
Slide 4: Interim Result Highlights
Neurovascular Interim Result Highlights $ 25.4mn 114.5%YOY Cardiovascular: DES sales volume +111.9% Balloon sales volume +92.3% Heart Valve Revenue Orthopedics: China +37.5% (made-in-China $ 13.4mn 121.8%YOY joints +116.9%); Overseas +20.9% $ 384.6mn CRM: China +95.0%; Overseas +17.3% (US +87.3%, Ja
Slide 5: Successful External Financing & Strategic Investment
2021 Interim Results Successful External Financing & Strategic Investment 31 August 2021 Raised ~$1.21bn in total from external equity financing Feb 2021 Jun 2021 Jun 2021 Jun 2021 Jul 2021 Heart Valve MPSC Surgical Robot Electrophysiology CRM External Financing • Successfully spin-off • Issued $700
Slide 6: Product Highlights & Clinical Progress
2021 Interim Results Product Highlights & Clinical Progress 31 August 2021 Domestic Overseas 1 product entered Green Path NMPA Approvals* 8 21 products accumulatively - No.1 in industry CE Approvals 14 FDA Approvals 2 Cardio- Firesorb®’s FUTURE-II trial 1-year results proved comparable angiographic
Slide 7: Professional Platforms Providing One-stop Medical Solutions
2021 Interim Results Professional Platforms Providing One-stop Medical Solutions 31 August 2021 Assisted Reproductive Nonvascular Intervention Sports Medicine Rehabilitation Endocrinology Technology • Provide solutions to urinary, • Complete sports medicine • Orkid® Intrauterine • Focus on muscle &
Slide 8: Contents
Contents 1 Interim Result Highlights 2 Financial Review 3 Business Review 4 Outlook 5 Appendix – Financial Statements
Slide 9: Consolidated Financial Performance
2021 Interim Results Consolidated Financial Performance 31 August 2021 Revenue Gross Profit Margin USD: million +17.7% 384.6 70.9% 64.4% 306.9 1H 2020 1H 2021 1H 2020 1H 2021 Operating Expenses Net (Loss)/Profit Attributable to Equity Shareholders USD: million USD: million -65.6 350.7 -90.3 275.4 1H
Slide 10: Operating Expenses
2021 Interim Results Operating Expenses 31 August 2021 Sales & Marketing Expenses Administrative Expenses R&D Expenses 50.0% USD: million USD: million USD: million 200.0 45.0% 200 40.0% 200 40.0% 36.5% 40.0% 180 180 35.0% 34.0% 35.0% 30.4% 35.0% 160 29.5% 160 150.0 30.0% 30.0% 26.8% 140 30.0% 140 23
Slide 11: Cash Flow
2021 Interim Results Cash Flow 31 August 2021 Net Cash Flow from Operating Activities Net Cash Flow used in Investing Activities Net Cash Flow from Financing Activities USD: million USD: million USD: million 8.4 -37.9 1,016.0 -106.4 -214.5 220.9 1H 2020 1H 2021 1H 2020 1H 2021 1H 2020 1H 2021 Net op
Slide 12: Contents
Contents 1 Interim Result Highlights 2 Financial Review 3 Business Review 4 Outlook 5 Appendix – Financial Statements
Slide 13: Cardiovascular Business
2021 Interim Results Cardiovascular Business 31 August 2021 Business Highlights Business by Sector Sales Volume Units ’000 DES No.1 1H 2020 +111.9% Player with highest domestic 1H 2021 1H 2021 Revenue: $42.0mn DES market share +92.3% Sales volume surged +124% YOY 523.7 Domestic Covering 2,700+ hospi
Slide 14: Orthopedics Business (Non-China Business)
2021 Interim Results Orthopedics Business (Non-China Business） 31 August 2021 Non-China Business Highlights Extensive Product Pipeline Revenue Revenue Breakdown by Region Product Pre-clinical Clinical Registration USD: million +20.9% EMEA 26% Revenue Growth Prime® Constrained Liner EMEA: +43.5% and
Slide 15: Orthopedics Business (China Business)
2021 Interim Results Orthopedics Business (China Business) 31 August 2021 China Business Highlights Business by Sector USD: million Joints Revenue Revenue Breakdown by Product Type 1H 2021 revenue: $12.3mn, +32.0% YOY +37.5% +32.0% Sales substantially increased; penetrated 400+ hospitals with total
Slide 16: CRM Business
2021 Interim Results CRM Business 31 August 2021 Non-China Business Highlights China Business Highlights Non-China Revenue Sales Highlights China Revenue Sales Highlights USD: million 1H 2021 revenue: $102.3mn, +17.3% YOY USD: million 1H 2021 revenue: $6.0mn, +95.0% YOY +17.3% Global sales gradually
Slide 17: Endovascular Business
2021 Interim Results Endovascular Business 31 August 2021 Business Highlights Extensive Product Pipeline USD: million Key Financials Product Pre-clinical Clinical Registration +68.6% Talos® Thoracic 1H 2020 Stent Graft • Submitted for NMPA review 1H 2021 55.8 +53.0% +53.2% Aortics System Stents 33.4
Slide 18: Neurovascular Business
2021 Interim Results Neurovascular Business 31 August 2021 Business Highlights Extensive Product Pipeline Revenue Revenue Breakdown by Product USD: million Product Pre-clinical Clinical Registration 1H 2020 Ischemic Hemorrhagic +114.5% Neurohawk™ 1H 2021 • Submitted for NMPA review +106.4% Thrombect
Slide 19: Heart Valve Business
2021 Interim Results Heart Valve Business 31 August 2021 Business Overview Extensive Product Pipeline with Solid Progress Key Financials Gross Profit Margin Product Pre-clinical Clinical Registration USD: million +121.8% +110bps +177.3% • Expected to be approved by NMPA 1H 2020 55.1% VitaFlow Libert
Slide 20: Surgical Robot Business
2021 Interim Results Surgical Robot Business 31 August 2021 Business Overview Extensive Product Pipeline POS Product Pre-clinical Clinical Registration IPO 收单业务 Progress Toumai® Application accepted for spin-off and separate listing on HKEx Laparoscopic • Submitted for NMPA approval Surgical Laparo-
Slide 21: Contents
Contents 1 Interim Result Highlights 2 Financial Review 3 Business Review 4 Outlook 5 Appendix – Financial Statements
Slide 22: Innovative Product Pipeline Fueling Long-Term Growth
2021 Interim Results Innovative Product Pipeline Fueling Long-Term Growth 31 August 2021 Rapamycin Coronary Rotational Firesorb® Intravascular Firehawk® Coronary Stent Graft Firefighter™ Cardio- Microcatheter Drug-coated Atherectomy Bioresorbable Lithotripsy Plus System Pro/NC Pro vascular NMPA Ball
Slide 23: Contents
Contents 1 Interim Result Highlights 2 Financial Review 3 Business Review 4 Outlook 5 Appendix – Financial Statements
Slide 24: Appendix I - Consolidated Income Statement
2021 Interim Results Appendix I - Consolidated Income Statement 31 August 2021 USD'000 1H 2021 1H 2020 Var. Revenue 384,611 306,922 25.3% Cost of sales (137,003) (89,334) 53.4% Gross profit 247,608 217,588 13.8% Other net income 24,622 30,808 -20.1% Research and development costs (117,064) (72,803)
Slide 25: Appendix II - Consolidated Balance Sheet
2021 Interim Results Appendix II - Consolidated Balance Sheet 31 August 2021 USD'000 30 June 2021 31 Dec 2020 Var. Non-current assets Investment properties 16,669 5,284 215% Other property, plant and equipment 483,620 481,203 1% Intangible assets 143,403 138,397 4% Prepayments for non-current assets
Slide 26: Appendix II - Consolidated Balance Sheet
2021 Interim Results Appendix II - Consolidated Balance Sheet 31 August 2021 USD'000 30 June 2021 31 Dec 2020 Var. Non-current liablities Interest-bearing borrowings 119,323 181,988 -34% Lease liabilities 50,921 42,774 19% Deferred income 33,383 37,844 -12% Convertible bonds 720,492 48,583 1383% Con
Slide 27: Appendix III - Condensed Consolidated Cash Flow Statement
2021 Interim Results Appendix III - Condensed Consolidated Cash Flow Statement 31 August 2021 USD'000 1H 2021 1H 2020 Var. Cash (used in)/generated from operations (44,105) 19,581 -325% Income tax paid (69,425) (14,308) 385% Income tax refund received 7,168 3,176 126% Net cash (used in)/generated fr