On March 28, 2025, Shanghai MicroPort Endovascular MedTech (Group) Co., Ltd. (Endovastec™, Stock code: 688016.SH) announced the annual results of Endovastec™ and its subsidiaries (the Company) for the year ended December 31, 2024 (the Reporting Period). During the Reporting Period, the Company achieved revenue of RMB 1.206 billion, with a net profit attributable to shareholders of listed companies of RMB 502 million and basic earnings per share of RMB 4.07. Despite facing the evolving domestic and international market conditions, the Company delivered good business performance over the past year.

Commitment to Technological Innovation: Total Solutions Further Enhanced

The Company stays dedicated to product innovation, continuously expanding its product portfolio through distribution partnerships and acquisitions. In 2024 and so far in 2025, Endovastec™ has received market approval for 12 new products in China and international markets, including three distributed products. Meanwhile, its product research and development have been progressing steadily, further enhancing its total solutions for aortic, peripheral vascular, and tumor diseases.

In the field of aortic intervention, Cratos™ Branched Aortic Stent Graft System has been approved for market launch in China and obtained the EU custom-made medical device certificate, with pre-market clinical trials overseas progressing smoothly; L-REBOA™ Aortic Occlusion Balloon Catheter has gained market approval in China; Hector™ Multi-Branch Thoracic Stent Graft System has been approved to go through the NMPA’s Special Review Procedures for Innovative Medical Devices (“Green Path”); and Aegis™ II Abdominal Aortic Stent Graft System has completed pre-market clinical implantation.

In the field of peripheral arterial intervention, ReeAmber™ PTA Balloon Dilatation Catheter, HawkNest™ Fibered Embolization Coils, and the distributed product Veryan BM3D™ BioMimics 3D Peripheral Self-Expanding Stent System have received market approval in China; the Chinese registration application of Detachable Fibered Embolization Coils has been submitted; the BTK Drug-Coated Balloon Catheter has completed pre-market clinical implantation; and the Drug-Eluting Peripheral Vascular Stent System is currently in pre-market clinical trials. Additionally, by cooperating with Sonosemi Medical to exclusively distribute its Peripheral Intravascular Lithotripsy System, Endovastec™ has expanded its own product portfolio in the peripheral arterial intervention field.

In the peripheral venous intervention field, four self-developed new products have received market approval in China: Vflower™ Venous Stent System (recognized by NMPA as an Innovative Medical Device), SeaDragon™ PTA Balloon Dilatation Catheter, Vewatch™ Vena Cava Filter, and Vepack™ Snare Retrieval Kit. The Chinese registration application of Fishhawk™ Mechanical Thrombectomy Catheter (recognized by NMPA as an Innovative Medical Device) has been submitted, and the Embolic Protection Device has completed pre-market clinical implantation. Additionally, Endovastec™ has secured the exclusive distribution rights for WEMT’s VeinPro™ Endovenous Radiofrequency Closure System, providing more innovative solutions for the field of peripheral venous intervention.

In the field of tumor intervention, Tipspear™ Transjugular Liver Access Set has gained market approval in China; the Chinese registration application of FinderSphere™/FluentSphere™ Polyvinyl Alcohol (PVA) Embolic Microspheres has been submitted; and HepaFlow™ TIPS Stent Graft System has been approved for the NMPA’s “Green Path” and successfully completed pre-market clinical implantation.

Currently, the Company has a total of 30 marketed products worldwide, with 5 having obtained CE certification. Among its products already launched and under development, 9 have been approved for the NMPA’s “Green Path”, outperforming most other companies in the industry.

Accelerating Global Expansion: Advancing in Both Domestic and International Markets

Endovastec™ sticks to a dual-track strategy of domestic and international expansion, further accelerating globalization efforts. Domestically, the Company continues to strengthen its foothold in the Chinese market, reinforcing its leadership in the industry. By the end of the Reporting Period, the Company’s products have been clinically used in over 2,500 hospitals across China. The Company has maintained its market leadership in the aortic intervention product field, while steadily expanding the market coverage of its peripheral vascular intervention products. The introduction of new products onto hospital procurement platforms is progressing in an orderly manner.

Internationally, during the Reporting Period, overseas sales revenue of the Company reached RMB 164 million, reflecting a nearly 100% year-over-year growth. The Company secured over 20 new product registrations overseas, bringing the total to over 90 international registrations, including five CE certificates. Endovastec™ has expanded its presence to 40 countries and regions across Europe, Latin America, and Asia, while actively collaborating with leading regional partners to accelerate market access and promotion of its aortic and peripheral interventional products in these regions. Additionally, the Company is advancing pre-market clinical trials for new products in Europe and Japan.

A major milestone in the Reporting Period was the Company’s wholly-owned acquisition of Lombard Medical, a European medical device company. This move has accelerated Endovastec™’s expansion into major medical device markets such as Europe, the United States, and Japan, marking a significant step in its globalization strategy. By integrating high-quality resources, Endovastec™ aims to rapidly expand its market share and enhance its international competitiveness and brand influence.

Commitment to Quality Development and Corporate Social Responsibility

The Company remains steadfast in its pursuit of high-quality and sustainable growth. In 2024, it actively implemented green development initiatives, focusing on energy conservation, carbon reduction, pollution control, and efficiency improvements to enhance both economic and environmental benefits. The Company also strengthened workplace safety and continuously improved its quality management system.

During the Reporting Period, the Company received multiple recognitions for its quality management and corporate achievements, including the 2023-2024 Shanghai Quality Gold Award, as well as the awards for the 2024 Shanghai Top 100 Enterprises on the Brand Value List of Specialized and Sophisticated “Little Giant” Enterprises that Produces Novel and Unique Products, the Top 30 STAR Market Listed Companies in Value, and the NEXT 20·2024 Annual Hight-Growth China A-Share Listed Companies. Moreover, the Castor™ Branched Aortic Stent Graft System patent was included by the China National Intellectual Property Administration in the Shortlist of Pre-Selected Projects for the 25th China Patent Gold Award.

The Company actively fulfills its corporate social responsibility, earning “A” ratings and above from multiple Chinese ESG rating agencies. It has also published its Corporate Social Responsibility Report for five consecutive years and has run the “Endovastec Public Welfare Action” Relief Program for impoverished patients with aortic diseases for three consecutive years, benefiting over 130 patients to date.

Dr. Zhu Qing, President of Endovastec™, stated: “In 2024, despite a complex market environment, we achieved strategic breakthroughs, and our globalization strategy began yielding results. I would like to express my sincere gratitude to all Endovastec™ employees for their dedication, as well as to our customers, partners, shareholders, and government and community stakeholders for their trust and support. Staying true to our mission, we will continue forging ahead with determination. In 2025, we remain committed to driving innovation in total solutions for aortic, peripheral vascular, and tumor diseases, while accelerating our global expansion strategy, contributing to the well-being of patients with circulatory diseases worldwide. Together, we will continue striving toward our ambitious vision: building a globally leading group of people centric enterprises of emerging medical technologies.”