Microport Scientific Corp. · HKEX:853
Microport Scientific — H1 2020 Earnings Presentation
23 slides from Microport Scientific's earnings presentation, Aug 27, 2020
Slide 1: 2020 Interim Results
2020 Interim Results 27 August 2020
Slide 2: Disclaimer
2020 Interim Results Disclaimer 27 August 2020 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
2020 Interim Results 27 August 2020 CONTENTS 1 Interim Result Highlights 2 Financial Review 3 Business Review 4 Appendix – Financial Statements 3
Slide 4: Financial Highlights
2020 Interim Results Interim Result Highlights 27 August 2020 Financial Highlights Revenue Trend by Month Revenue Breakdown by Segment 26.9% Cardiovascular Orthopedics 10.0% CRM 28.2% 16.1% Endovascular Neurovascular 3.6% 1.7% Heart Valve Jan Feb Mar Apr May Jun 0.8% 28.8% Others China Non-China Glo
Slide 5: Highlights New Catalysts for future growth
2020 Interim Results Interim Result Highlights 27 August 2020 Highlights New Catalysts for future growth Progress in Financing of USD 580 million promotes sustainable development 4 Class III medical devices obtained approval by National Medical Products MPSC: Placing of 65,958,000 new shares on 2
Slide 6: Contents
2020 Interim Results 27 August 2020 CONTENTS 1 Interim Result Highlights 2 Financial Review 3 Business Review 4 Appendix – Financial Statements 6
Slide 7: Consolidated Financial Performance
2020 Interim Results Consolidated Financial Performance 27 August 2020 Revenue Gross Profit Margin USD: million 392.6 71.7% 70.9% 306.9 2019 1H 2020 1H 2019 1H 2020 1H Operating Expenses Net Profit/(Loss) attributable to equity shareholders USD: million 65.5 USD: million 275.4 -65.6 249.4 2019 1H 20
Slide 8: Operating Expenses
2020 Interim Results Operating Expenses 27 August 2020 Sales & Marketing Expenses Administrative Expenses R&D Expenses USD: million USD: million USD: million 00 36.5% 80 150 29.5% 150 30.0 32.2% 35.0% 23.7% 30.0% 60 130 130 17.3% 20.0 40 126.5 30.0% 14.0% 20.0% 112.0 110 110 90.6 20 72.8 10.0 25.0%
Slide 9: Cash Flow
2020 Interim Results Cash Flow 27 August 2020 Net Cash Flow Net Cash Flow Net Cash Flow from Operating Activities used in Investing Activities USD: million USD: million USD: million 2019 1H 2020 1H -23.1 191.5 11.3 -37.9 8.4 -35.8 2019 1H 2020 1H 2019 1H 2020 1H Net Operating Cash flow decreased b
Slide 10: Contents
2020 Interim Results 27 August 2020 CONTENTS 1 Interim Result Highlights 2 Financial Review 3 Business Review 4 Appendix – Financial Statements 10
Slide 11: Cardiovascular Business
2020 Interim Results Cardiovascular Business 27 August 2020 Revenue Percentage of Firehawk in Domestic DES Sales 300 265 USD: million Global: -29.1% 250 195 19 Domestic: -30.5% 160 Overseas: -10.4% 200 132 12 50% 118 11 125 150 98 9 9 88 40% 34% 13 6 246 8 26% 100 184 123 149 50 92 105 116 81 0 reve
Slide 12: Orthopedics Business (Non-China Business)
2020 Interim Results Orthopedics Business (Non-China Business) 27 August 2020 2020 1H Revenue Extensive Product Pipeline USD: million Clinical trial Registration Approval EVOLUTION™ • Obtained FDA approval in 2019 NitrX Knee system • Obtained CE mark in 2020 2019 207.2 197.7 212.1 216.2 199.7 206.0
Slide 13: Orthopedics Business (China Business)
2020 Interim Results Orthopedics Business (China Business) 27 August 2020 2020 1H Revenue China Business Highlights -12.0% -13.4% USD: million Revenue: $ 9.8 m, - 12.0% YOY 11.2 Revenue of Joints: $ 8.5 m, -13.4% YOY 9.8 9.9 8.5 Limited procedures due to COVID-19 pandemic ↑4.8% Expanded hospital
Slide 14: CRM Business
2020 Interim Results CRM Business 27 August 2020 Product Pipeline for Non-China Business Product Pipeline for China Business ENOTM,TEOTM, SmartTouchTM Alizea TM, Existing before BeFlexTM OTOTM launched in Borea TM, Navigo TM InvictaTM AxoneTM 2019 (Non-MRI): Non-MRI KoraTM100 BeFlex TM SmartTou EnoT
Slide 15: Endovascular Business
2020 Interim Results Endovascular Business 27 August 2020 2020 1H Revenue Progress in Overseas Market USD: million 48.5 ↑25.0% Minos ™ Ultra Low Profile AAA Stent-Graft 50.0 Completed first implantations in several European countries 40.0 33.6 after Minos™ obtained CE mark in 2019 30.5 30.0 24.1 2
Slide 16: Neurovascular Business
2020 Interim Results Neurovascular Business 27 August 2020 2020 1H Revenue Sales Growth by Products USD: million USD: million 27.6 Ischemic Hemorrhagic -35.9% ↑6.0% -9.0% 17.8 4.9 2019 1H 4.0 4.3 13.0 12.0 3.1 10.9 -49.9% 8.4 2020 1H 7.0 5.5 0.9 0.5 2014 2015 2016 2017 2018 2019 2019 1H 2020 1H APOL
Slide 17: Heart Valve
Heart Valve 2020 Interim Results 27 August 2020 Business Highlights Product Pipeline Revenue: USD 5.2 million: VitaFlow™ is the first approved TAVI product made of bovine Continuing commercialization of VitaFlowTM since first implantation in Aug 2019 pericardial leaflets in China, with novel inner
Slide 18: Surgical Robot
2020 Interim Results Surgical Robot 27 August 2020 Highlights in R&D Extensive product pipeline Clinical trial Registration Approval Toumai ™ made steady progress in FIM clinical trial Honghu Orthopedic Surgical Robot entered Green Path and DFVision™ 3D initiated FIM clinical trial • Entered the NMP
Slide 19: Contents
2020 Interim Results 27 August 2020 CONTENTS 1 Interim Result Highlights 2 Financial Review 3 Business Review 4 Appendix – Financial Statements 19
Slide 20: Appendix I - Consolidated Income Statement
2020 Interim Results Appendix I - Consolidated Income Statement 27 August 2020 Unit: USD'000 1H 2020 1H 2019 Var. Revenue 306,922 392,607 -22% Cost of sales (89,334) 0 (110,969) 0 -19% Gross profit 217,588 281,638 -23% Other net income 30,808 8,613 258% Research and development costs (72,803) (67,96
Slide 21: Appendix II - Consolidated Balance Sheet
2020 Interim Results Appendix II - Consolidated Balance Sheet 27 August 2020 Unit: USD'000 30 June. 2020 31 Dec. 2019 Var. Non-current assets Investment properties 5,127 5,222 -2% Other property, plant and equipment 424,215 428,786 -1% Intangible assets 127,008 125,811 1% Prepayments for non-current
Slide 22: Appendix II - Consolidated Balance Sheet
2020 Interim Results Appendix II - Consolidated Balance Sheet 27 August 2020 Unit: USD'000 30 June. 2020 31 Dec. 2019 Var. Non-current liabilities Interest-bearing borrowings 257,912 288,107 -10% Lease liabilities 41,853 44,527 -6% Deferred income 23,480 24,895 -6% Contract liabilities 22,326 21,463
Slide 23: Appendix III - Condensed Consolidated Cash Flow Statement
2020 Interim Results Appendix III - Condensed Consolidated Cash Flow Statement 27 August 2020 Unit: USD'000 1H 2020 1H 2019 Var. Net cash generated from operating activities 8,449 11,257 -25% Net cash generated from investing activities (37,861) (23,069) 64% Net cash generated from financing activit