Performance Summary:
Revenue was RMB118.
Gross profit (after reimbursement of consolidated consideration apportionment) was RMB87.
Despite the impact of the epidemic in the first half of the year, sales of transcatheter valve therapy business and neurointervention business were strong, with revenue of RMB52.
During the performance period, the Group recorded revenue of RMB118.
The epidemic in the first half of the year further verified the Group's execution ability and operational efficiency
Transcatheter valve therapy business: the initial establishment of a comprehensive commercial system, laying the foundation for successful commercialization; The pipeline products are progressing smoothly, bringing continuity
In the transcatheter valve therapy business, the Group has a total of five registered products and nine products
Thanks to the excellent product performance and professional market education and promotion, the Group's transcatheter valve therapy business has been accelerating
Thanks to our cross-functional professional team in marketing, sales and medicine, from academic promotion to new technology collaboration, from patient discovery to operator development, from clinical support for full coverage before and after surgery to meticulous and complete sales services, the commercial development of transcatheter valve therapy business has developed rapidly
The Group has established a strong product pipeline through external acquisitions and in-house R&D, with a wide range of innovative products
Among them, three projects are about to enter the important human clinical stage: GeminiOne® and MonarQ will enter the registered clinical stage and overseas FIM clinical stage, respectively, and HighLife® will enter the registered clinical stage
Neurointerventional business: The four ischemic products of the Group's neurointerventional business have been listed one after another, and the layout of the ischemic line product portfolio has been initially formed, which has been able to provide a complete set of solutions for hemorrhagic and ischemic stroke; The sales of existing neurointerventional products continue to increase, and combined with the subsequent commercialization of new products that have been launched one after another, the revenue composition of neurointervention business will be further diversified
During the period, the Group obtained the registration approval of four neurointerventional products from the State Food and Drug Administration, including Syphonet® thrombotic stent, Tethys AS® thrombotic aspiration catheter, Fastunnel® delivery balloon expansion catheter and Fluxcap® balloon guide tube
So far, in the neurointervention business, the Group has 14 registered products, and 7 products under research at different stages of development, and has a comprehensive portfolio
Thanks to superior product performance, strong marketing capabilities and a stable and in-depth dealer network, the revenue of the neural intervention business increased by 57.
As at 30 June 2022, the Group had 177 distributors covering more than 1,800 hospitals
The Group has a strong intellectual property portfolio with a total of 89 granted valid patents and 100 patents
pending.
Specifically, the Group holds 53 granted valid patents and 74 patents pending in the transcatheter valve therapy business, 36 authorized valid patents and 26 patents pending in the neurointervention business
.
Dr.
Zhang Yi, Executive Director, Chairman and Chief Executive Officer of Peijia Medical Co.
, Ltd.
, said, "As a well-known global medical device company in China, Peijia Medical has the responsibility to strengthen the Group's leadership position
in the industry by implementing a series of future strategies and plans.
In the future, the company will uphold the company's corporate vision, continue to be committed to the development and commercialization of structural cardiac and neurovascular disease intervention solutions in China and the world, and continue to actively promote the clinical trials of multiple preclinical stage research products, and strive to bring positive and effective treatment solutions
to patients as soon as possible.
”
About Peijia Medical Company Limited
Peijia Medical Co.
, Ltd.
is a leading domestic player in China's transcatheter valve therapeutic medical device and neurointerventional medical device market, focusing on the high-growth interventional surgical medical device market
in China and the world.
Peijia Medical has established a collaborative platform integrating R&D, manufacturing and commercialization capabilities, and has a comprehensive product portfolio
.
Respecting life and adhering to innovation, Peijia Medical is committed to becoming a world-renowned medical device company
providing comprehensive treatment solutions for structural heart disease and neurovascular diseases.
Performance Summary:
Revenue was RMB118.
8 million, an increase of 129.
8%
over the same period in 2021.
Gross profit (after reimbursement of consolidated consideration apportionment) was RMB87.
6 million, an increase of 133.
5% over the same period in 2021, and gross margin (after reimbursement of amortized consolidated consideration) reached 73.
7%.
Key Operating Summary:
Despite the impact of the epidemic in the first half of the year, sales of transcatheter valve therapy business and neurointervention business were strong, with revenue of RMB52.
1 million and RMB66.
7 million respectively, an increase of 455.
4% and 57.
6% respectively over the same period in 2021
.
The admission progress and implantation volume of transcatheter valve therapy business exceeded expectations
.
As of July 31, 2022, TaurusOne® and TaurusElite® products entered a total of 209 hospitals
in just one year or so after the forensics.
The monthly implant volume has also reached a new high, accounting for nearly 20% of the market share in July, and the total implantation volume in the first half of this year alone has far exceeded the level of the whole year of 2021, handing over a satisfactory report card
.
The pipeline of transcatheter valve therapy business is progressing smoothly, and the development progress
is as expected.
Four ischemic products of the Group's neurointerventional business have been listed one after another, and the layout of the ischemic line product portfolio has been initially formed, which has been able to provide a complete set of solutions
for hemorrhagic and ischemic diseases.
The sales of existing product lines continue to increase, and the leading position in the neurointervention industry continues to consolidate
.
The Group continued its efforts to optimize its supply chain and improve its production processes for long-term success, and continued to maintain stable production during the first half of the epidemic to meet the rapid growth
in sales demand.
Placket Medical Co.
, Ltd.
, a leading Chinese leader in the high-growth transcatheter valve therapy and neurointerventional surgery medical device market ("Placket Medical" or the "Company", together with its subsidiaries, collectively referred to as the "Group"); Stock Code: 9996) announces interim results
for the six months ended June 30, 2022 (the "Period").
During the performance period, the Group recorded revenue of RMB118.
8 million, representing a substantial increase of 129.
8%
compared to the same period in 2021.
Revenue from the transcatheteric valve therapy business and the neurointervention business were RMB52.
1 million and RMB66.
7 million respectively, representing an increase of 455.
4% and 57.
6%
respectively over the same period in 2021 。 The increase in revenue was mainly due to: (i) the commercialization of the second-generation recyclable TAVR product, TaurusElite®; (ii) increased revenue from sales of existing neurointerventional products, including Tethys intermediate guide catheters and SacSpeed® balloon expansion catheters®; and (iii) commercialization of a number of new neurointerventional products, including Jasper® SS intracranial electrolytically released spring rings
, etc.
Gross profit (after reimbursement of consolidated consideration apportionment) was RMB87.
6 million, an increase of 133.
5% over the same period in 2021, and gross margin (after reimbursement of amortized consolidated consideration) reached 73.
7%.
The epidemic in the first half of the year further verified the Group's execution ability and operational efficiency
.
The commercialization indicators of the two business lines exceeded expectations, the progress of the pipeline project under research was smoothly advanced, the production operation and supply chain management were appropriate, and the production and stocking rate of the core products in the first half of the year reached about 60% (50% of the baseline).
Transcatheter valve therapy business: the initial establishment of a comprehensive commercial system, laying the foundation for successful commercialization; The pipeline products are progressing smoothly, bringing continuity
to long-term business development.
In the transcatheter valve therapy business, the Group has a total of five registered products and nine products
under development at various stages of development.
Sales of TaurusOne® and TaurusElite® products are progressing well, with transcatheter valve therapy business revenue still growing
by 455.
4% compared to the same period in 2021 under the impact of the pandemic.
To meet the rapidly growing demand, the Group's sales and marketing teams were built rapidly
.
As of July 2022, there are 151 employees
focused on the sale and marketing of transcatheter valve therapy products.
Thanks to the excellent product performance and professional market education and promotion, the Group's transcatheter valve therapy business has been accelerating
the progress of product admission in new hospitals and the level of implantation volume in hospitalized hospitals.
As of July 31, 2022, a total of 209 hospitals
were entered.
Implantation volume also hit a new monthly high, with implantation volume climbing to nearly 20% of the market share in July, and nearly 650 implants in the first seven months, more than
double the level of implant volume in 2021.
In the second half of the year, the situation started strongly, the market share steadily increased, and strive to catch up with the latecomers, and have become market leaders in some cities and hospitals, and the future development space is huge
.
Thanks to our cross-functional professional team in marketing, sales and medicine, from academic promotion to new technology collaboration, from patient discovery to operator development, from clinical support for full coverage before and after surgery to meticulous and complete sales services, the commercial development of transcatheter valve therapy business has developed rapidly
after marketing.
The rapid advancement of commercialization has laid a solid cash foundation
for the long-term development of the company.
The Group has established a strong product pipeline through external acquisitions and in-house R&D, with a wide range of innovative products
under development that comprehensively cover major valve diseases and next-generation technologies.
As at 19 August 2022, the Group has four commercial development (BD) projects in the areas
of aortic valve replacement, mitral valve reflux, tricuspid valve replacement and mitral valve conjunctive enhancement.
In addition to the BD program, the Group's in-house R&D projects are also widely recognized in the industry, including improving the durability of prosthetic valves, treatment options for non-implantable valve diseases, and developing innovative mitral valve repair products
.
Among them, three projects are about to enter the important human clinical stage: GeminiOne® and MonarQ will enter the registered clinical stage and overseas FIM clinical stage, respectively, and HighLife® will enter the registered clinical stage
.
Neurointerventional business: The four ischemic products of the Group's neurointerventional business have been listed one after another, and the layout of the ischemic line product portfolio has been initially formed, which has been able to provide a complete set of solutions for hemorrhagic and ischemic stroke; The sales of existing neurointerventional products continue to increase, and combined with the subsequent commercialization of new products that have been launched one after another, the revenue composition of neurointervention business will be further diversified
.
During the period, the Group obtained the registration approval of four neurointerventional products from the State Food and Drug Administration, including Syphonet® thrombotic stent, Tethys AS® thrombotic aspiration catheter, Fastunnel® delivery balloon expansion catheter and Fluxcap® balloon guide tube
.
The main instruments of the ischemic product line have been marketed, and the ischemic line product portfolio layout has been initially formed, which can provide a complete set of solutions
for AIS and ICAD patients.
So far, in the neurointervention business, the Group has 14 registered products, and 7 products under research at different stages of development, and has a comprehensive portfolio
of registered products and pipelines for hemorrhagic and ischemic stroke.
The Group already has the most complete core products and one-stop stroke treatment plan
covering mainstream surgery.
The multi-product echelon will not only improve the Group's ability to cope with industry uncertainties, but also continuously enhance the attractiveness and synergy of
the Group's product portfolio among practitioners and distributors.
Thanks to superior product performance, strong marketing capabilities and a stable and in-depth dealer network, the revenue of the neural intervention business increased by 57.
6%
compared with the same period in 2021.
Revenue from hemorrhagic, ischemic and vascular access products accounted for 44.
2%, 25.
0% and 30.
6%
of neurointerventional revenue, respectively.
With the continuous growth of sales of hemorrhagic products and the commercialization of recently approved ischemic products, the product revenue composition of the neurointervention business will be further diversified
in the future.
As at 30 June 2022, the Group had 177 distributors covering more than 1,800 hospitals
in 31 provinces across the country.
The Group will continue to expand its sales team and distributor coverage to cope with its expanding ischemic product portfolio
.
As of July 2022, there are 74 employees
focused on the sale and marketing of neurointervention business products.
The Group has a strong intellectual property portfolio with a total of 89 granted valid patents and 100 patents
pending.
Specifically, the Group holds 53 granted valid patents and 74 patents pending in the transcatheter valve therapy business, 36 authorized valid patents and 26 patents pending in the neurointervention business
.
Dr.
Zhang Yi, Executive Director, Chairman and Chief Executive Officer of Peijia Medical Co.
, Ltd.
, said, "As a well-known global medical device company in China, Peijia Medical has the responsibility to strengthen the Group's leadership position
in the industry by implementing a series of future strategies and plans.
In the future, the company will uphold the company's corporate vision, continue to be committed to the development and commercialization of structural cardiac and neurovascular disease intervention solutions in China and the world, and continue to actively promote the clinical trials of multiple preclinical stage research products, and strive to bring positive and effective treatment solutions
to patients as soon as possible.
”
About Peijia Medical Company Limited
Peijia Medical Co.
, Ltd.
is a leading domestic player in China's transcatheter valve therapeutic medical device and neurointerventional medical device market, focusing on the high-growth interventional surgical medical device market
in China and the world.
Peijia Medical has established a collaborative platform integrating R&D, manufacturing and commercialization capabilities, and has a comprehensive product portfolio
.
Respecting life and adhering to innovation, Peijia Medical is committed to becoming a world-renowned medical device company
providing comprehensive treatment solutions for structural heart disease and neurovascular diseases.
Performance Summary:
Performance Summary:
Revenue was RMB118.
8 million, an increase of 129.
8%
over the same period in 2021.
Key Operating Summary:
Key Operating Summary:
Placket Medical Co.
, Ltd.
, a leading Chinese leader in the high-growth transcatheter valve therapy and neurointerventional surgery medical device market ("Placket Medical" or the "Company", together with its subsidiaries, collectively referred to as the "Group"); Stock Code: 9996) announces interim results
for the six months ended June 30, 2022 (the "Period").
Peijia Medical Co.
, Ltd
During the performance period, the Group recorded revenue of RMB118.
8 million, representing a substantial increase of 129.
8%
compared to the same period in 2021.
Revenue from the transcatheteric valve therapy business and the neurointervention business were RMB52.
1 million and RMB66.
7 million respectively, representing an increase of 455.
4% and 57.
6%
respectively over the same period in 2021 。 The increase in revenue was mainly due to: (i) the commercialization of the second-generation recyclable TAVR product, TaurusElite®; (ii) increased revenue from sales of existing neurointerventional products, including Tethys intermediate guide catheters and SacSpeed® balloon expansion catheters®; and (iii) commercialization of a number of new neurointerventional products, including Jasper® SS intracranial electrolytically released spring rings
, etc.
Gross profit (after reimbursement of consolidated consideration apportionment) was RMB87.
6 million, an increase of 133.
5% over the same period in 2021, and gross margin (after reimbursement of amortized consolidated consideration) reached 73.
7%.
The epidemic in the first half of the year further verified the Group's execution ability and operational efficiency
.
The commercialization indicators of the two business lines exceeded expectations, the progress of the pipeline project under research was smoothly advanced, the production operation and supply chain management were appropriate, and the production and stocking rate of the core products in the first half of the year reached about 60% (50% of the baseline).
In the first half of the year, the production and stocking rate of core products reached about 60%
Transcatheter valve therapy business: the initial establishment of a comprehensive commercial system, laying the foundation for successful commercialization; The pipeline products are progressing smoothly, bringing continuity
to long-term business development.
Transcatheter valve therapy business: the initial establishment of a comprehensive commercial system, laying the foundation for successful commercialization; The pipeline products are progressing smoothly, bringing continuity
to long-term business development.
In the transcatheter valve therapy business, the Group has a total of five registered products and nine products
under development at various stages of development.
Sales of TaurusOne® and TaurusElite® products are progressing well, with transcatheter valve therapy business revenue still growing
by 455.
4% compared to the same period in 2021 under the impact of the pandemic.
To meet the rapidly growing demand, the Group's sales and marketing teams were built rapidly
.
As of July 2022, there are 151 employees
focused on the sale and marketing of transcatheter valve therapy products.
Thanks to the excellent product performance and professional market education and promotion, the Group's transcatheter valve therapy business has been accelerating
the progress of product admission in new hospitals and the level of implantation volume in hospitalized hospitals.
As of July 31, 2022, a total of 209 hospitals
were entered.
Implantation volume also hit a new monthly high, with implantation volume climbing to nearly 20% of the market share in July, and nearly 650 implants in the first seven months, more than
double the level of implant volume in 2021.
In the second half of the year, the situation started strongly, the market share steadily increased, and strive to catch up with the latecomers, and have become market leaders in some cities and hospitals, and the future development space is huge
.
The product admission progress of the new hospital and the product in the level of implantation volume in the admitted hospitals have continued to accelerate in July, the implant volume in July market share climbed to nearly 20%, and the implant volume in the first seven months was nearly 650 units, reaching more than twice the level of implantation volume in 2021 and has become a market leader in some cities and hospitals
Thanks to our cross-functional professional team in marketing, sales and medicine, from academic promotion to new technology collaboration, from patient discovery to operator development, from clinical support for full coverage before and after surgery to meticulous and complete sales services, the commercial development of transcatheter valve therapy business has developed rapidly
after marketing.
The rapid advancement of commercialization has laid a solid cash foundation
for the long-term development of the company.
The Group has established a strong product pipeline through external acquisitions and in-house R&D, with a wide range of innovative products
under development that comprehensively cover major valve diseases and next-generation technologies.
As at 19 August 2022, the Group has four commercial development (BD) projects in the areas
of aortic valve replacement, mitral valve reflux, tricuspid valve replacement and mitral valve conjunctive enhancement.
In addition to the BD program, the Group's in-house R&D projects are also widely recognized in the industry, including improving the durability of prosthetic valves, treatment options for non-implantable valve diseases, and developing innovative mitral valve repair products
.
Among them, three projects are about to enter the important human clinical stage: GeminiOne® and MonarQ will enter the registered clinical stage and overseas FIM clinical stage, respectively, and HighLife® will enter the registered clinical stage
.
There are three projects that are about to enter the important human clinical stage: GeminiOne and MonarQ will enter the registered clinical stage and overseas FIM clinical stage, respectively, and HighLife® will enter the registered clinical stage
.
Neurointerventional business: The four ischemic products of the Group's neurointerventional business have been listed one after another, and the layout of the ischemic line product portfolio has been initially formed, which has been able to provide a complete set of solutions for hemorrhagic and ischemic stroke; The sales of existing neurointerventional products continue to increase, and combined with the subsequent commercialization of new products that have been launched one after another, the revenue composition of neurointervention business will be further diversified
.
Neurointerventional business: The four ischemic products of the Group's neurointerventional business have been listed one after another, and the layout of the ischemic line product portfolio has been initially formed, which has been able to provide a complete set of solutions for hemorrhagic and ischemic stroke; The sales of existing neurointerventional products continue to increase, and combined with the subsequent commercialization of new products that have been launched one after another, the revenue composition of neurointervention business will be further diversified
.
During the period, the Group obtained the registration approval of four neurointerventional products from the State Food and Drug Administration, including Syphonet® thrombotic stent, Tethys AS® thrombotic aspiration catheter, Fastunnel® delivery balloon expansion catheter and Fluxcap® balloon guide tube
.
The main instruments of the ischemic product line have been marketed, and the ischemic line product portfolio layout has been initially formed, which can provide a complete set of solutions
for AIS and ICAD patients.
A complete solution for AIS and ICAD patients
So far, in the neurointervention business, the Group has 14 registered products, and 7 products under research at different stages of development, and has a comprehensive portfolio
of registered products and pipelines for hemorrhagic and ischemic stroke.
The Group already has the most complete core products and one-stop stroke treatment plan
covering mainstream surgery.
The multi-product echelon will not only improve the Group's ability to cope with industry uncertainties, but also continuously enhance the attractiveness and synergy of
the Group's product portfolio among practitioners and distributors.
Comprehensive portfolio of registered products and pipelines for hemorrhagic and ischemic stroke
Thanks to superior product performance, strong marketing capabilities and a stable and in-depth dealer network, the revenue of the neural intervention business increased by 57.
6%
compared with the same period in 2021.
Revenue from hemorrhagic, ischemic and vascular access products accounted for 44.
2%, 25.
0% and 30.
6%
of neurointerventional revenue, respectively.
With the continuous growth of sales of hemorrhagic products and the commercialization of recently approved ischemic products, the product revenue composition of the neurointervention business will be further diversified
in the future.
Thanks to superior product performance, strong marketing capabilities and a stable and in-depth dealer network, the revenue of the neural intervention business increased by 57.
6%
compared with the same period in 2021.
As at 30 June 2022, the Group had 177 distributors covering more than 1,800 hospitals
in 31 provinces across the country.
The Group will continue to expand its sales team and distributor coverage to cope with its expanding ischemic product portfolio
.
As of July 2022, there are 74 employees
focused on the sale and marketing of neurointervention business products.
The Group has a strong intellectual property portfolio with a total of 89 granted valid patents and 100 patents
pending.
Specifically, the Group holds 53 granted valid patents and 74 patents pending in the transcatheter valve therapy business, 36 authorized valid patents and 26 patents pending in the neurointervention business
.
Dr.
Zhang Yi, Executive Director, Chairman and Chief Executive Officer of Peijia Medical Co.
, Ltd.
, said, "As a well-known global medical device company in China, Peijia Medical has the responsibility to strengthen the Group's leadership position
in the industry by implementing a series of future strategies and plans.
In the future, the company will uphold the company's corporate vision, continue to be committed to the development and commercialization of structural cardiac and neurovascular disease intervention solutions in China and the world, and continue to actively promote the clinical trials of multiple preclinical stage research products, and strive to bring positive and effective treatment solutions
to patients as soon as possible.
”
Dr.
Zhang Yi, Executive Director, Chairman and Chief Executive Officer of Peijia Medical Co.
, Ltd
About Peijia Medical Company Limited
About Peijia Medical Company Limited
Peijia Medical Co.
, Ltd.
is a leading domestic player in China's transcatheter valve therapeutic medical device and neurointerventional medical device market, focusing on the high-growth interventional surgical medical device market
in China and the world.
Peijia Medical has established a collaborative platform integrating R&D, manufacturing and commercialization capabilities, and has a comprehensive product portfolio
.
Respecting life and adhering to innovation, Peijia Medical is committed to becoming a world-renowned medical device company
providing comprehensive treatment solutions for structural heart disease and neurovascular diseases.
