OrbusNeich

OrbusNeich Achieves Record-High Revenue and Net Profit of US$154 Million and US$45.1 Million Respectively, Recommends Final Dividend Payment of HK10 cents per Share

Retrieved on: 
Thursday, March 7, 2024

-- Revenue hit record high at US$153.9 million, up 12.5% year-on-year

Key Points: 
  • -- Revenue hit record high at US$153.9 million, up 12.5% year-on-year
    -- Revenue from PCI balloons and PTA balloons grew by 12.1% and 29.0% year-on-year, respectively.
  • In particular, revenue from PCI balloons and PTA balloons grew by 12.1% and 29.0% year-on-year to US$115.4 million and US$14.7 million, respectively.
  • As at December 31, 2023, the Group was in a strong financial position with cash and bank balances amounting to US$255.8 million (2022: US$229.1 million).
  • Having considered future capital requirements, the Board has proposed a final dividend of HK10 cents per share in cash, as a token of appreciation for the continuous support of shareholders.

OrbusNeich Acquires 84% Stake in an Indonesian Distributor for Approximately US$15 Million

Retrieved on: 
Monday, November 27, 2023

The consideration for the acquisition will be funded from the proceeds of the Group's global offering and cash generated from operations.

Key Points: 
  • The consideration for the acquisition will be funded from the proceeds of the Group's global offering and cash generated from operations.
  • PT Revass is an Indonesian company that specializes in the distribution and sale of cardiovascular intervention, neuro intervention, peripheral intervention and continuous renal replacement therapy products.
  • Its profit after tax in FY2022 amounted to IDR14.3 billion (equivalent to approximately US$920,000).
  • As of 30 June 2023, its unaudited net asset value was approximately IDR88.1 billion (equivalent to approximately US$5.7 million).

OrbusNeich Adds Drug-eluting Balloons in Product Portfolio Through Acquisition of Eucatech AG

Retrieved on: 
Thursday, November 23, 2023

Upon completion of the acquisition, Eucatech AG will become a wholly-owned subsidiary of the Group.

Key Points: 
  • Upon completion of the acquisition, Eucatech AG will become a wholly-owned subsidiary of the Group.
  • Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich, said, "We are pleased to announce the acquisition of Eucatech AG, a company with two decades of experience and a shared mission with OrbusNeich.
  • We believe that this acquisition will enrich our product portfolio.
  • Therefore, the Group views this acquisition as a strategic move to reinforce its market presence and distribution network .

OrbusNeich FY2023 Interim Net Profit Triples to US$25.2 Million, Total Revenue Increases by 18.2% to US$81.4 Million

Retrieved on: 
Thursday, August 17, 2023

Gross profit rose by 22.1% to approximately US$58.3 million, with a gross profit margin of 71.6%.

Key Points: 
  • Gross profit rose by 22.1% to approximately US$58.3 million, with a gross profit margin of 71.6%.
  • As a result, profit attributable to the owners of the Company reached US$25.2 million, an increase of 213.3%, with a net profit margin of 30.9%.
  • Adjusted profit (non-HKFRS measure) (1) increased by 105.6% year-on-year to approximately US$25.4 million.
  • As at 30 June 2023, the Group was in a strong financial position with cash and bank balances of approximately US$239.0 million.

OrbusNeich Kicks Off Clinical Study of Scoreflex TRIO, Completing China's First PCI Intervention Procedure with High-Pressure, Three-wire Scoring Balloon Dilatation Catheter

Retrieved on: 
Monday, May 8, 2023

This first case of success marks the beginning of the clinical study across China for obtaining the product approval.

Key Points: 
  • This first case of success marks the beginning of the clinical study across China for obtaining the product approval.
  • The principal investigator of the clinical study is the team led by Prof. Ge Junbo, Academician Zhongshan Hospital, Fudan University.
  • The clinical study on Scoreflex TRIO has officially begun now in Mainland China with the first successful trial recorded.
  • The clinical study team led by famed Academician Ge Junbo has profound professional knowledge and clinical experience, hence we are confident of speeding up the study.

OrbusNeich Plans to Set up Its Largest R&D and Production Base in Fuchun Bay New Town, Hangzhou, the PRC

Retrieved on: 
Tuesday, March 28, 2023

Upon completion of construction and commencement of production, the Project is expected to have an annual production capacity of approximately 2.4 million units of products.

Key Points: 
  • Upon completion of construction and commencement of production, the Project is expected to have an annual production capacity of approximately 2.4 million units of products.
  • When completed, the facility will focus mainly on R&D and production of medical devices such as PCI and PTA intervention products, as well as structural heart disease interventional products, among others.
  • We believe the cooperation will benefit the development of both the Group and Fuchun Bay New Town."
  • Capitalizing on the advantages of Yangtze River Delta as a transportation hub and talent pool, the Group can expand its production capacity, while enhancing its overall operational capabilities.

OrbusNeich Announces First Annual Results After Listing, Record Revenue of US$136.8 Million, Adjusted Net Profit Up 25% to US$26.7 Million

Retrieved on: 
Wednesday, March 8, 2023

As a result, gross profit and adjusted net profit(1) both recorded an increase, by 13.9% to US$92.5 million and by 24.9% to US$26.7 million, respectively, while the gross margin remained at a healthy level of 67.6%.

Key Points: 
  • As a result, gross profit and adjusted net profit(1) both recorded an increase, by 13.9% to US$92.5 million and by 24.9% to US$26.7 million, respectively, while the gross margin remained at a healthy level of 67.6%.
  • The Group has further strengthened its financial position by raising approximately HK$480.8 million through its listing on HKEX.
  • Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich said, "The year 2022 marked an important milestone in OrbusNeich's history.
  • Ultimately, we achieved growth in both established and high-growth markets, as well as record-high revenue and a significant improvement in net profit."

Shares of Major Global Medical Device Manufacturer OrbusNeich Medical Group Commence Trading on the Main Board of The Stock Exchange of Hong Kong

Retrieved on: 
Friday, December 23, 2022

HONG KONG, Dec 23, 2022 - (ACN Newswire) - Shares of OrbusNeich Medical Group Holdings Limited ("OrbusNeich" or the "Group"), a major global medical device manufacturer specialized in interventional instruments for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures, today commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited ("HKEX"), under the stock code 6929.

Key Points: 
  • HONG KONG, Dec 23, 2022 - (ACN Newswire) - Shares of OrbusNeich Medical Group Holdings Limited ("OrbusNeich" or the "Group"), a major global medical device manufacturer specialized in interventional instruments for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures, today commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited ("HKEX"), under the stock code 6929.
  • Mr. Teddy Chien, Chairman Emeritus and Founder (right) and Mr. David Chien, Chairman, Executive Director, Chief Executive Officer (left), together strike the ceremonial gong, marking the Group's listing on the Main Board of HKEX
    OrbusNeich makes a generous donation of HK$3,000,000 to HKEX Foundation to secure the auspicious stock code number "6929".
  • Mr. David Chien, Chairman, Executive Director, Chief Executive Officer (right) presents the cheque to HKEX
    (From left to right): John Chow,Executive Director and Head of Business Development; Jason Chen, Executive Director, Chief Financial Officer and Company Secretary; Gloria Tam, Independent Non-executive Director; Denise Lau, Executive Director and Chief Operating Officer; Teddy Chien, Chairman Emeritus and Founder; David Chien, Chairman, Executive Director and Chief Executive Officer; George Lau, Independent Non-executive Director; Angus Chan, Independent Non-executive Director

Major Global Medical Device Manufacturer OrbusNeich Medical Group Announces Details of Proposed Listing on the Main Board of HKEX

Retrieved on: 
Tuesday, December 13, 2022

HONG KONG, Dec 13, 2022 - (ACN Newswire) - OrbusNeich Medical Group Holdings Limited ("OrbusNeich" or the "Group"), a major global medical device manufacturer specialized in interventional instruments for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures, has today announced the details of its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited ("HKEX").

Key Points: 
  • HONG KONG, Dec 13, 2022 - (ACN Newswire) - OrbusNeich Medical Group Holdings Limited ("OrbusNeich" or the "Group"), a major global medical device manufacturer specialized in interventional instruments for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures, has today announced the details of its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited ("HKEX").
  • In 2021, its global sales volume of PCI balloon products reached approximately 866,000 units
    -- A major PTA balloon developer and manufacturer in the global PTA balloons market, ranked No.
  • Dealing of the shares is expected to commence on the Main Board of HKEX on 23 December 2022 (Friday) under the stock code 6929.
  • OrbusNeich, headquartered in Hong Kong Science Park, is a major global medical device manufacturer specialized in interventional instruments for PCI and PTA procedures.

Cardiovascular Systems, Inc. Reports Fiscal 2022 Second Quarter Financial Results

Retrieved on: 
Thursday, February 3, 2022

CAD occurs when a fatty material called plaque builds up on the walls of arteries that supply blood to the heart.

Key Points: 
  • CAD occurs when a fatty material called plaque builds up on the walls of arteries that supply blood to the heart.
  • According to the Centers for Disease Control and Prevention, 18 million people in the United States have CAD, the most common form of heart disease.
  • With risk factors such as diabetes and obesity on the rise, the prevalence of PAD is growing at double-digit rates.
  • See the instructions for use for detailed information regarding the procedure, indications, contraindications, warnings, precautions, and potential adverse events.