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Public company info - LifeTech Scientific Corporation , 01302.HK
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LifeTech Scientific Corporation, 01302.HK - Company Profile
Chairman XIE Yuehui
Share Issued (share) 4,628,000,000
Par Currency U.S. Dollar
Par Value 1.25E-6
Industry Medical Equipment & Services
Corporate Profile Business Summary: The principal activities of the Group are development, manufacture and trading of advanced interventional medical devices for cardiovascular and peripheral vascular diseases and disorders. Performance for the year: Revenue of the Group was approximately RMB668.9 million for the year ended 31 December 2019 in comparison with approximately RMB556.7 million for the corresponding period of 2018. Gross profit was approximately RMB534.8 million for the year 2019 in comparison with approximately RMB455.0 million in 2018, representing a growth of approximately 17.5%. Net profit attributable to owners of the Company for the year ended 31 December 2019, excluding certain non-recurring items, was approximately RMB254.6 million as compared to the net profit amounting to approximately RMB196.1 million in 2018. The Company have recorded net profit attributable to owners of the Company for the year ended 31 December 2019 which was approximately RMB129.2 million, as compared to the net profit of approximately RMB121.1 million in 2018, representing an increase of approximately 6.7%. Business Review The revenue was approximately RMB668.9 million for the year ended 31 December 2019, with an increase of approximately RMB112.2 million or approximately 20.2% as compared to the revenue for the year ended 31 December 2018. The growth in revenue was mainly attributable to the increase of revenue from LAmbre™ LAA occluder, Cera congenital heart occluders, stent grafts and vena cava filter. Revenue from structural heart diseases business The turnover contributed by the structural heart diseases business for the year ended 31 December 2019 was approximately RMB274.4 million (2018: approximately RMB208.3 million), representing a growth of approximately 31.7%. With the diversification of product portfolio, the Group’s products cover a wide spectrum of the structural heart diseases business, which mainly include LAA occluder and three generations of congenital heart occluders named HeartR, Cera and CeraFlex. As compared to the corresponding period of 2018, the revenue generated from the sales of HeartR occluders increased by 9.1%, Cera occluders increased by approximately 46.2% and CeraFlex occluders increased by approximately 29.7% for the year ended 31 December 2019. The revenue generated from the sales of LAmbreTM LAA occluder was approximately RMB64.1 million for the year ended 31 December 2019 (2018: approximately RMB41.6 million), representing a growth of approximately 54.1%. Revenue from peripheral vascular diseases business The turnover contributed by the peripheral vascular diseases business for the year ended 31 December 2019 was approximately RMB372.5 million (2018: approximately RMB342.9 million), representing a growth of approximately 8.6%. The products the Group offered in the peripheral vascular diseases business mainly included vena cava filter, Thoracic Aortic Aneurysm stent graft, Abdominal Aortic Aneurysm stent graft and Fustar™ steerable introducer. As compared to the corresponding period of 2018, the revenue generated from the sales of stent grafts increased by approximately 7.1% and vena cava filter increased by approximately 7.6% for the year ended 31 December 2019. Revenue from cardiac pacing and electrophysiology business The turnover contributed by the cardiac pacing and electrophysiology business for the year ended 31 December 2019 was approximately RMB22.0 million (2018: approximately RMB5.5 million), representing a growth of approximately 300.0%. Prospects: The Group will keep strengthening its development in the year of 2020 by relying on its existing three core businesses, namely structural heart diseases business, peripheral vascular diseases business and cardiac pacing and electrophysiology business. The Group will continue to optimize the selection and retention of high-quality customers, as well as increase investment to expand the secondary market. Meanwhile, by conducting post-market clinical trials of core products, the safety and effectiveness of the Group's products have been furtherly proved through clinical data, thereby promoting product sales. The Group will also continue to invest in research and development spectrum and dedicate to enhance the Group's innovation capability. The Group will improve and upgrade the Group's existing products in response to the demands of various markets and customers. The Group will also vigorously promote clinical trial and certificate registration for new products, in order to further diversify the Group's product offerings. The Group established strategic partnerships with ABG, Sorrento Therapeutics and Quantum Surgical, which will allow us to explore investment opportunities in the global health industry and expand the Group's business scope to include cancer detection and treatment technologies. The Group is confident that the Group's participation in the healthcare investment sector will bring us a new growth point with close cooperation in the near future. Further, the Company believes in the great market potential in technologies for the screening, treatment and rehabilitation industries relating to malignancies, myocardial infarction, cerebral ischemic stroke and cranial nerve system diseases. Therefore, the Company will explore new investment opportunities in such industries to enable the Group to gain greater presence in the global market, and align with the Company’s strategic investment target in the global health industry. Looking further ahead, the Group will actively grasp the development trend of the medical device industry and seek fast-growing, high-margin and high-potential opportunities within or outside of the Group's existing business segments.

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