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Peijia Medical Announces 2024 Annual Results

HONG KONG, March 26, 2025 /PRNewswire/ -- Peijia Medical (9996.HK), a leading Chinese domestic player in the high-growth transcatheter valve therapeutics and neurovascular interventions markets, announced financial results for the year ended December 31, 2024 ("the Year") on March 25, 2025.

Financial Highlights

During the Year, Peijia recorded operating revenue of RMB615.5 million, representing a 39.5% year-on-year increase. The revenue growth was driven by:

Continued commercialization and expanded market share gains of transcatheter aortic valve replacement (TAVR) products across China;

The successful first-year nationwide launch of DCwire Micro Guidewire validated by positive user feedback and widespread market adoption;

Further market penetration of Syphonet Stent Retriever and Fastunnel Delivery Balloon Dilatation Catheter, supported by differentiated product design and innovative procedure techniques; and

Sustained adoption of the Company's coil product under the volume-based procurement (VBP) initiatives, bolstered by reliable product quality and brand recognition.

Gross profit for the Year was RMB433.6 million, up 33.3% year-on-year. Benefiting from a diversified product portfolio and ongoing cost optimization, gross margin remained robust at 70.5%, despite VBP headwinds in the Neurointerventional Business ("Neuro Business"). Expense ratios improved significantly across the Company due to economies of scale and operational efficiency gains: selling and distribution, administrative, and research and ...