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MicroTech Medical (Hangzhou) Co. Ltd. - H Shares, 02235.HK - Company Profile
Chairman	Zheng Pan
Share Issued (share)	64,000,000
Par Currency	Renminbi
Par Value	1.0
Industry	-
Corporate Profile	Business Summary: Founded in 2011, the group have been focused on diabetes management, providing both diabetes treatment and diabetes monitoring medical devices to improve the diabetes management in China and globally. Performance for the year: The group incurred net losses of RMB78.6 million, RMB121.3 million and RMB2.6 million for the years ended December 31, 2019 and 2020 and the four months ended April 30, 2021, respectively. Business Review Founded in 2011, the group have been focused on diabetes management, providing both diabetes treatment and diabetes monitoring medical devices to improve the diabetes management in China and globally. the group believe that the group’s product portfolio, the group’s advanced positioning in the development of closed loop solutions, the group’s synergistic platform created by integrating the group’s R&D, manufacturing and commercialization capabilities, together with the group’s visionary management team, significantly differentiate us from the group’s peers. The group operate in a large and fast-growing diabetes monitoring, treatment and management market in China and globally with significant unmet clinical needs. Diabetes is one of the most prevalent chronic diseases, which is often frustrating and difficult for patients to manage. According to the CIC Report, the global prevalence of diabetes was 486.9 million people in 2019 and is expected to reach 607.6 million people in 2030. According to the same source, the prevalence of diabetes in China was 118.8 million people in 2019 and is expected to reach 143.2 million people in 2030. The global market size of diabetes management medical devices increased from US$27.8 billion in 2015 to US$42.3 billion in 2020, representing a CAGR of 8.7% from 2015 to 2020, and is expected to increase to US$118.5 billion in 2030, representing a CAGR of 10.9% from 2020 to 2030, with the Chinese market alone to increase from US$0.8 billion in 2015 to US$2.2 billion in 2020, representing a CAGR of 22.0% from 2015 to 2020, and to further increase to US$10.2 billion in 2030, representing a CAGR of 16.7% from 2020 to 2030. Meanwhile, there are significant unmet clinical needs for medical devices that can operate on a real-time and continuous basis to lower the risks of hypo/hyper-glycaemia and offer significant short-term and long-term benefits to patients. Manufacturers are required to have multi- and cross- disciplinary capabilities for the R&D of such innovative medical devices. To capitalize this market opportunity, the group were founded in 2011 with the objective to improve the diabetes monitoring, treatment and management through closed loop solutions that dynamically monitor and control the blood glucose level. In addition to Equil, the group have two other categories of commercialized products, namely BGMS and CGMS, and six other product candidates at various development stages. According to the CIC Report, BGMS is a traditional method to monitor blood glucose levels and a well-established device, which has been on the market for approximately 40 years. Equil, the group’s Core Product, is a semi-disposable patch insulin pump. Compared to traditional tubed pumps, Equil features a tubeless and lightweight design, enabling users to manage diabetes discreetly and safely. Other innovative attributes include a vibration alert that users can feel underneath their clothing and a dedicated bolus button that can initiate insulin delivery without the remote control. In September 2017, Equil received the marketing approval for adult use from the NMPA in China. Equil also received CE marking in the EU in the same year. As of the Latest Practicable Date, the group had successfully marketed Equil in over 20 countries across Asia Pacific, Europe, Middle East, Africa and Latin America. In February 2021, the group submitted a 510(k) premarket notification to the FDA and the group expect to receive FDA clearance for Equil in the first half of 2022. AiDEX G7, the group’s CGMS, is the second commercialized calibration-free real-time CGMS in the world. Since its launch, AiDEX G7 has demonstrated various advantages over traditional BGMS products, featuring real-time monitoring, reduced risk of hyper/hypoglycemia, and increased compliance to treatment regimen without taking routine finger prick blood glucose measurements. AiDEX G7 received CE marking in the EU in September 2020. the group completed a clinical trial for AiDEX G7 in China in May 2020 and the NMPA accepted the group’s registration application in the first quarter of 2021. AiDEX G7 has been certified by the NMPA in May 2020 to be eligible for the Special Approval Procedures of Innovative Medical Devices promulgated by the NMPA. When approved, AiDEX G7 is expected to be the first calibration-free real-time CGMS approved for commercialization in China. Prospects: The group’s objective in the mid-term is to leverage the group’s strengths in patch insulin pump system and CGMS to continue to grow sales, develop and launch the group’s closed loop solutions, increase the group’s brand awareness and expand the group’s global footprint. In the long term, the group aim to build a cloud-based diabetes management platform to bring clinical and commercial benefits to diabetes patients all over the world. To achieve these objectives, the group intend to pursue the following strategies. • Advance diabetes monitoring, treatment and management around the globe with the group’s diversified product portfolio • Continue to develop the group’s multidisciplinary R&D capabilities and address the evolving clinical demands • Continue to expand the group’s global footprint through a user-centric and clinical-data driven sales strategy and a diversified commercialization channel • Continue to increase the group’s manufacturing capacity to support the group’s growth and achieve economies of scale • Build a cloud-based diabetes management platform to enable the formulation of personalized diabetes solutions and a closed loop diabetes management ecosystem

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