On March 28, 2024, Peijia Medical announced that it would delay the publication of 2023 annual results, as the Company had been still in the process of discussing with its auditors on the valuation of certain financial asset with an initial investment cost of HK$80 million. In order to keep the shareholders of the Company and potential investors informed of the business operation and financial position of the Company, Peijia Medical released the announcement of its unaudited results for the year ended December 31, 2023 (the “Reporting Period”). The unaudited results of the Company for the Reporting Period are summarized below:
• The Group’s revenue increased by 75.9% yoy to RMB440 million;
• The Group’s gross profit increased by 84.7% yoy to RMB330 million, with gross profit margin improving by 3.5 ppts to 73.8%;
• The Group’s expense ratios improved significantly: selling, administrative and R&D expense ratios decreased by 22.7, 17.1 and 82.2 ppts yoy, respectively;
• The segment loss of Transcatheter Valve Therapeutic Business narrowed by 13.5% yoy, and the segment loss of Neurointerventional Business was RMB744,000.
Trading in the shares of the Company was suspended from April 2, 2024 pending the publication of the 2023 Annual Results. The Company has placed a high priority on the impact of this incident on investors and is working closely with the auditors to release the audited results and resume trading as soon as possible.
