Buy Or Sell Opportunity • May 22
Now 21% undervalued Over the last 90 days, the stock has risen 6.8% to HK$7.85. The fair value is estimated to be HK$9.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 45% per annum over the same time period. Announcement • May 20
MicroTech Medical (Hangzhou) Co., Ltd., Annual General Meeting, Jun 10, 2026 MicroTech Medical (Hangzhou) Co., Ltd., Annual General Meeting, Jun 10, 2026, at 14:30 China Standard Time. Location: business conference room, 3rd floor, microtech medical administration building, no. 108 liuze street, cangqian street, yuhangdistrict, zhejiang province, hangzhou China Buy Or Sell Opportunity • May 06
Now 23% undervalued Over the last 90 days, the stock has risen 1.7% to HK$7.61. The fair value is estimated to be HK$9.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 45% per annum over the same time period. Reported Earnings • Apr 01
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥0.10 (up from CN¥0.15 loss in FY 2024). Revenue: CN¥660.8m (up 91% from FY 2024). Net income: CN¥40.2m (up CN¥103.3m from FY 2024). Profit margin: 6.1% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Medical Equipment industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Mar 18
MicroTech Medical (Hangzhou) Co., Ltd. to Report Fiscal Year 2025 Results on Mar 30, 2026 MicroTech Medical (Hangzhou) Co., Ltd. announced that they will report fiscal year 2025 results on Mar 30, 2026 Breakeven Date Change • Feb 07
Forecast breakeven date pushed back to 2026 The 2 analysts covering MicroTech Medical (Hangzhou) previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of CN¥54.2m in 2026. Average annual earnings growth of 89% is required to achieve expected profit on schedule. Reported Earnings • Oct 06
First half 2025 earnings: EPS and revenues exceed analyst expectations First half 2025 results: CN¥0.005 loss per share (improved from CN¥0.09 loss in 1H 2024). Revenue: CN¥245.9m (up 63% from 1H 2024). Net loss: CN¥2.29m (loss narrowed 94% from 1H 2024). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 93%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Medical Equipment industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Breakeven Date Change • Sep 11
Forecast breakeven date moved forward to 2025 The 2 analysts covering MicroTech Medical (Hangzhou) previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of CN¥39.9m in 2025. Earnings growth of 83% is required to achieve expected profit on schedule. Reported Earnings • Sep 04
First half 2025 earnings released: CN¥0.005 loss per share (vs CN¥0.09 loss in 1H 2024) First half 2025 results: CN¥0.005 loss per share (improved from CN¥0.09 loss in 1H 2024). Revenue: CN¥245.9m (up 63% from 1H 2024). Net loss: CN¥2.29m (loss narrowed 94% from 1H 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Aug 18
MicroTech Medical (Hangzhou) Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 MicroTech Medical (Hangzhou) Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • May 07
MicroTech Medical (Hangzhou) Co., Ltd., Annual General Meeting, May 28, 2025 MicroTech Medical (Hangzhou) Co., Ltd., Annual General Meeting, May 28, 2025, at 14:30 China Standard Time. Location: business conference room, 3rd floor, microtech medical administration building, no. 108 liuze street, cangqian street, yuhang district, hangzhou, zhejiang., China Reported Earnings • May 04
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: CN¥0.15 loss per share (improved from CN¥0.29 loss in FY 2023). Revenue: CN¥345.6m (up 37% from FY 2023). Net loss: CN¥63.1m (loss narrowed 50% from FY 2023). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 21%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Medical Equipment industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Apr 08
Consensus EPS estimates fall by 175% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥518.5m to CN¥497.1m. Losses expected to increase from CN¥0.04 per share to CN¥0.11. Medical Equipment industry in Hong Kong expected to see average net income growth of 51% next year. Consensus price target up from HK$4.92 to HK$5.49. Share price fell 8.7% to HK$6.05 over the past week. Reported Earnings • Mar 30
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: CN¥0.15 loss per share (improved from CN¥0.29 loss in FY 2023). Revenue: CN¥345.6m (up 37% from FY 2023). Net loss: CN¥63.1m (loss narrowed 50% from FY 2023). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 21%. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Medical Equipment industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Mar 18
MicroTech Medical (Hangzhou) Co., Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 MicroTech Medical (Hangzhou) Co., Ltd. announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Mar 28, 2025 Reported Earnings • Sep 30
First half 2024 earnings: EPS and revenues miss analyst expectations First half 2024 results: CN¥0.09 loss per share (further deteriorated from CN¥0.04 loss in 1H 2023). Revenue: CN¥150.8m (up 36% from 1H 2023). Net loss: CN¥37.7m (loss widened 102% from 1H 2023). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 80%. Revenue is forecast to grow 41% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Medical Equipment industry in Hong Kong. Announcement • Aug 16
MicroTech Medical (Hangzhou) Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 MicroTech Medical (Hangzhou) Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Apr 27
MicroTech Medical (Hangzhou) Co., Ltd., Annual General Meeting, May 17, 2024 MicroTech Medical (Hangzhou) Co., Ltd., Annual General Meeting, May 17, 2024, at 14:30 China Standard Time. Location: Business Conference Room, 3rd Floor, MicroTech Medical Administration Building No. 108 Liuze Street, Cangqian Street, Yuhang District, Hangzhou Zhejiang, China Hangzhou Zhejiang Province China Agenda: To consider and approve the 2023 annual report and audited financial statements for 2023; to consider and approve the work report of the Board of Directors for 2023; to consider and approve the work report of the Supervisory Committee for 2023; to consider and approve the proposed 2023 Profit Distribution Plan; and to consider other matters. Breakeven Date Change • Apr 03
Forecast breakeven date pushed back to 2026 The 2 analysts covering MicroTech Medical (Hangzhou) previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of CN¥46.5m in 2026. Average annual earnings growth of 91% is required to achieve expected profit on schedule. Major Estimate Revision • Apr 03
Consensus EPS estimates upgraded to CN¥0.01 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from CN¥383.9m to CN¥365.9m. 2024 losses expected to reduce from -CN¥0.07 to -CN¥0.01 per share. Medical Equipment industry in Hong Kong expected to see average net income growth of 32% next year. Consensus price target broadly unchanged at HK$6.13. Share price was steady at HK$4.08 over the past week. Reported Earnings • Mar 28
Full year 2023 earnings: Revenues in line with analyst expectations Full year 2023 results: Revenue: CN¥253.2m (up 46% from FY 2022). Net loss: CN¥125.0m (loss widened 257% from FY 2022). Revenue was in line with analyst estimates. Revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Medical Equipment industry in Hong Kong. Announcement • Mar 28
MicroTech Medical (Hangzhou) Co., Ltd. Appoints Shi Yonghui as Joint Company Secretary The board of directors of MicroTech Medical (Hangzhou) Co., Ltd. announced that Dr. Shi Yonghui (Dr. Shi) has been appointed as a joint company secretary of the Company (the ``Joint Company Secretary'') for a term of three years with effect from March 27, 2024, and the sole company secretary of the Company before the appointment of Dr. Shi, Ms. Chu Pik Man (Ms. Chu), will continue to serve as the other Joint Company Secretary. Dr. Shi, aged 44, was appointed as an executive Director and the chief strategy & development officer of the Company in June 2021 and May 2021, respectively. He has been serving as an executive Director, the chief strategy & development officer and the senior vice president, and the secretary to the Board of the Company since August 2022. Dr. Shi successively served as the research scientist from July 2007 to October 2008 and the new business development manager from November 2008 to June 2011 at Procter & Gamble Technology (Beijing) Co., Ltd. From July 2013 to May 2021, he successively served as the senior manager and the senior director of Medtronic (Shanghai) Management Co., Ltd., the head of corporate development, venture capital and innovation incubation department of Medtronic Greater China, and a member of Medtronic Greater China Management Board, during which time he also served as an investment committee member of Medtronic China Venture Capital Fund, the chairman and general manager of Suzhou Meizhong Venture Capital Management Co., Ltd., the director of Suzhou Medtronic Sequoia Venture Capital Management Co., Ltd., and the general manager of Shanghai Meiji Entrepreneurship Incubator Management Co., Ltd. Dr. Shi has been serving as the independent director of Scivita Medical Technology Co.,Ltd. since November 2022. Dr. Shi received a bachelor's degree with a major in biochemistry and molecular biology and a Ph.D. degree with a major in biochemistry and molecular biology from Peking University in the PRC in July 2002 and July 2007, respectively. He also obtained a master's degree in business administration (in finance and healthcare management) from the Wharton School of the University of Pennsylvania in the United States in 2013. Ms. Chu, aged 27, was appointed as a Joint Company Secretary on September 26, 2023. She is currently an assistant manager of SWCS Corporate Services Group (Hong Kong) Limited. Ms. Chu has over 5 years of experience in the corporate secretarial field. She is a Chartered Secretary, a Chartered Governance Professional and an Associate of both The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Ms. Chu holds a bachelor's degree of Business Administration (Honours) in Corporate Governance Concentration from Hong Kong Shue Yan University. Announcement • Mar 16
MicroTech Medical (Hangzhou) Co., Ltd. to Report Fiscal Year 2023 Results on Mar 27, 2024 MicroTech Medical (Hangzhou) Co., Ltd. announced that they will report fiscal year 2023 results on Mar 27, 2024 Announcement • Feb 29
Microtech Medical (Hangzhou) Co., Ltd Announces Resignation of Duo Bo as Joint Company Secretary The board of directors of MicroTech Medical (Hangzhou) Co., Ltd. announced that Mr. Duo Bo has tendered his resignation as a joint company secretary of the Company with effect from February 29, 2024. Upon Mr. Duo's resignation as a joint company secretary of the Company, the other joint company secretary of the Company, Ms. Chu Pik Man, who possesses the requisite qualification and experience as required under Rule 3.28 of the Rules Governing the Listing of Securities on the Stock Exchange, will remain in office and act as the sole company secretary of the Company for the time being. Announcement • Dec 27
Microtech Medical (Hangzhou) Co., Ltd. Announces Committee Changes MicroTech Medical (Hangzhou) Co., Ltd. announced that the Board has appointed the chairman and members of each of the committees of the second session of the Board of the Company, details of which are set out below: Audit Committee: Mr. Ho Kin Cheong Kelvin (Chairperson), Ms. Gao Yun Ms. Wang .Chunfeng Remuneration and Assessment Committee: Ms. Wang Chunfeng (Chairperson), Dr. Shi Yonghui, Mr. Ho Kin Cheong Kelvin . Nomination Committee: Dr. Li Lihua (Chairperson), Dr. Zheng Pan,Dr. Cheng Hua. Strategy Committee: Dr. Zheng Pan (Chairperson), Dr. Li Lihua, Dr. Shi Yonghui. Major Estimate Revision • Nov 22
Consensus EPS estimates upgraded to CN¥0.085 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -CN¥0.12 to -CN¥0.085 per share. Revenue forecast steady at CN¥252.2m. Medical Equipment industry in Hong Kong expected to see average net income growth of 21% next year. Consensus price target down from HK$6.70 to HK$6.19. Share price was steady at HK$4.61 over the past week. New Risk • Oct 26
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: CN¥46m Forecast net loss in 2 years: CN¥24m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. This is currently the only risk that has been identified for the company. Breakeven Date Change • Oct 26
No longer forecast to breakeven The 2 analysts covering MicroTech Medical (Hangzhou) no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CN¥40.8m in 2025. New consensus forecast suggests the company will make a loss of CN¥3.87m in 2025. Announcement • Sep 27
MicroTech Medical (Hangzhou) Co., Ltd. Announces Change of Joint Company Secretary The board of directors of MicroTech Medical (Hangzhou) Co., Ltd. announced that Mr. Zhang Mengchi has tendered his resignation as (i) the joint company secretary of the Company; (ii) an authorised representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited; and (iii) the authorised representative of the Company for accepting service of process or notices on behalf of the Company in Hong Kong under Part 16 of the Companies Ordinance with effect from September 26, 2023. The Board further announces that Ms. Chu Pik Man has been appointed as one of the Joint Company Secretaries, the Authorised Representative and the Process Agent with effect from September 26, 2023. Mr. Duo Bo will continue to serve as another Joint Company Secretary. The biographical details of Mr. Duo and Ms. Chu are set out below: Mr. Duo, aged 31, was appointed as a Joint Company Secretary in April 2021. Mr. Duo served as an investment bank business assistant at Xinjiang Westeast Economic Research Institute () from August 2015 to February 2016. He then worked at Bode Century Enterprise Management Consulting Co., Ltd., serving as investment and financing manager and the head of information disclosure from March 2016 to January 2019. After that, Mr. Duo joined Shenzhen Ruijie Engineering Consulting Co., Ltd., serving as the securities commissioner from March 2019 to May 2020. Since January 2021, Mr. Duo has been serving as the securities affairs representative and legal affairs officer of Company. Mr. Duo received a bachelor's degree in Accounting from Jiujiang University in the PRC in July 2016. Mr. Duo obtained the Securities Qualification Certificate from China Securities Industry Association in March 2015 and was qualified as the secretary of the board of directors by National Equities Exchange and Quotations Co., Ltd., Science and Technology Innovation Board of the Shanghai Stock Exchange and Shenzhen Stock Exchange in December 2017, September 2021 and October 2022, respectively. He obtained the legal professional qualification certificate granted by the Ministry of Justice of the PRC in April 2021. Ms. Chu is currently an assistant manager of SWCS Corporate Services Group (Hong Kong) Limited. Ms. Chu has over 5 years of experience in the corporate secretarial field. She is a Chartered Secretary, a Chartered Governance Professional and an Associate of both The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Ms. Chu holds a bachelor's degree of Business Administration (Honours) in Corporate Governance Concentration from Hong Kong Shue Yan University. Major Estimate Revision • Sep 05
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -CN¥0.083 to -CN¥0.093 per share. Revenue forecast unchanged at CN¥268.3m. Medical Equipment industry in Hong Kong expected to see average net income growth of 21% next year. Consensus price target down from HK$8.99 to HK$8.76. Share price was steady at HK$4.48 over the past week. Reported Earnings • Sep 03
First half 2023 earnings released: CN¥0.044 loss per share (vs CN¥0.019 loss in 1H 2022) First half 2023 results: CN¥0.044 loss per share (further deteriorated from CN¥0.019 loss in 1H 2022). Revenue: CN¥110.8m (up 54% from 1H 2022). Net loss: CN¥18.7m (loss widened 135% from 1H 2022). Revenue is forecast to grow 48% p.a. on average during the next 3 years, compared to a 32% growth forecast for the Medical Equipment industry in Hong Kong. Announcement • Aug 18
MicroTech Medical (Hangzhou) Co., Ltd. to Report First Half, 2023 Results on Aug 29, 2023 MicroTech Medical (Hangzhou) Co., Ltd. announced that they will report first half, 2023 results on Aug 29, 2023 Major Estimate Revision • Aug 15
Consensus EPS estimates fall by 127% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -CN¥0.037 to -CN¥0.083 per share. Revenue forecast unchanged at CN¥268.5m. Medical Equipment industry in Hong Kong expected to see average net income growth of 26% next year. Consensus price target broadly unchanged at HK$8.99. Share price rose 15% to HK$4.91 over the past week. Breakeven Date Change • Aug 14
Forecast breakeven date pushed back to 2025 The 3 analysts covering MicroTech Medical (Hangzhou) previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 39% per year to 2024. The company is expected to make a profit of CN¥46.5m in 2025. Average annual earnings growth of 82% is required to achieve expected profit on schedule. Recent Insider Transactions • Jun 14
Board Member recently bought HK$53k worth of stock On the 12th of June, Yonghui Shi bought around 9k shares on-market at roughly HK$5.90 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$1.0m. Insiders have collectively bought HK$5.4m more in shares than they have sold in the last 12 months. Major Estimate Revision • May 23
Consensus EPS estimates fall by 22% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -CN¥0.03 to -CN¥0.037 per share. Revenue forecast unchanged at CN¥267.5m. Medical Equipment industry in Hong Kong expected to see average net income growth of 31% next year. Consensus price target down from HK$10.65 to HK$9.45. Share price fell 2.4% to HK$6.41 over the past week. Recent Insider Transactions • May 08
Executive Chairman & CEO recently bought HK$137k worth of stock On the 3rd of May, Pan Zheng bought around 20k shares on-market at roughly HK$6.86 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$1.0m. Pan has been a buyer over the last 12 months, purchasing a net total of HK$4.3m worth in shares. Recent Insider Transactions • Apr 29
Executive Chairman & CEO recently bought HK$1.0m worth of stock On the 25th of April, Pan Zheng bought around 150k shares on-market at roughly HK$6.87 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Pan has been a buyer over the last 12 months, purchasing a net total of HK$4.2m worth in shares. Reported Earnings • Mar 29
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: CN¥173.5m (up 15% from FY 2021). Net loss: CN¥35.0m (loss narrowed 27% from FY 2021). Revenue missed analyst estimates by 2.7%. Revenue is forecast to grow 45% p.a. on average during the next 2 years, compared to a 31% growth forecast for the Medical Equipment industry in Hong Kong. Breakeven Date Change • Jan 20
No longer forecast to breakeven The analyst covering MicroTech Medical (Hangzhou) no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of CN¥9.66m in 2024. New forecast suggests the company will make a loss of CN¥8.88m in 2024. Announcement • Dec 08
Microtech Medical (Hangzhou) Co., Ltd. Announces Executive Changes MicroTech Medical (Hangzhou) Co., Ltd. at its Extraordinary General Meeting held on December 7, 2022, announced Dr. Cheng Hua was appointed as independent non-executive Director of the first session of the Board. The appointment of Dr. Cheng shall come into effect immediately after the conclusion of the EGM and until the expiry of the term of the first session of the Board (i.e. three years from October 30, 2020). Ms. Gao Jian (" Ms. Gao") ceased to be an independent non-executive Director, the chairman of the Audit Committee and a member of the Nomination Committee upon conclusion of the EGM. Ms. Gao has confirmed she has no disagreement with the Board and there are no other matters in relation to her resignation that needs to be brought to the attention of Shareholders or the Stock Exchange. In place of Ms. Gao's positions as the chairman to the Audit Committee and a member to the Nomination Committee, with effect from the conclusion of the EGM, (i) Mr. Ho Kin Cheong Kelvin has been appointed as the chairman to the Audit Committee, (ii) Ms. Wang Chunfeng has been appointed as a member of the Audit Committee, and (iii) Dr. Cheng has been appointed as a member of the Nomination Committee. Buying Opportunity • Dec 06
Now 22% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be HK$11.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last year. Earnings per share has grown by 65%. Revenue is forecast to grow by 316% in 2 years. Earnings is forecast to grow by 83% in the next 2 years. Announcement • Nov 17
Microtech Medical (Hangzhou) Co., Ltd. Announces Executive Changes MicroTech Medical (Hangzhou) Co., Ltd., at a meeting of the Board held on November 16, 2022 announced the Company has received the resignation letter from Ms. Gao that Ms. Gao would resign from her position as an independent non-executive Director, the chairman of the Audit Committee and a member of the Nomination Committee due to personal work commitment. Ms. Gao 's resignation shall take effect from the conclusion of the EGM. Board Change • Nov 16
Less than half of directors are independent There are 10 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 10 new directors. 2 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Executive Chairman & CEO Pan Zheng is the most experienced director on the board, commencing their role in 2016. Independent Non-Executive Director Kelvin Ho was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Sep 21
Board Member recently bought HK$82k worth of stock On the 16th of September, Yonghui Shi bought around 11k shares on-market at roughly HK$7.76 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$144k. Insiders have collectively bought HK$5.5m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 02
Board Member recently bought HK$101k worth of stock On the 30th of August, Yonghui Shi bought around 13k shares on-market at roughly HK$8.05 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$470k. Insiders have collectively bought HK$5.2m more in shares than they have sold in the last 12 months. Breakeven Date Change • Sep 01
Forecast breakeven date moved forward to 2023 The 3 analysts covering MicroTech Medical (Hangzhou) previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 4.7% to 2022. The company is expected to make a profit of CN¥10.0m in 2023. Average annual earnings growth of 95% is required to achieve expected profit on schedule. Announcement • Aug 18
MicroTech Medical (Hangzhou) Co., Ltd. to Report First Half, 2022 Results on Aug 29, 2022 MicroTech Medical (Hangzhou) Co., Ltd. announced that they will report first half, 2022 results on Aug 29, 2022 Breakeven Date Change • Aug 14
Forecast breakeven date pushed back to 2024 The 3 analysts covering MicroTech Medical (Hangzhou) previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 88% per year to 2023. The company is expected to make a profit of CN¥66.5m in 2024. Average annual earnings growth of 96% is required to achieve expected profit on schedule. Recent Insider Transactions • Jun 22
Board Member recently bought HK$135k worth of stock On the 15th of June, Yonghui Shi bought around 15k shares on-market at roughly HK$8.99 per share. In the last 3 months, they made an even bigger purchase worth HK$835k. Insiders have collectively bought HK$4.3m more in shares than they have sold in the last 12 months. Announcement • May 26
MicroTech Medical (Hangzhou) Co., Ltd., Annual General Meeting, Jun 22, 2022 MicroTech Medical (Hangzhou) Co., Ltd., Annual General Meeting, Jun 22, 2022, at 14:30 China Standard Time. Location: Business Conference Room, 3rd Floor, MicroTech Medical Administration Building, No. 108 Liuze Street, Cangqian Street, Yuhang District, Hangzhou Zhejiang Province China Agenda: To consider and approve the 2021 annual report and its summary; to consider and approve the work report of the Board of Directors for 2021; to consider and approve the work report of the Supervisory Committee for 2021; to consider and approve the final account report for 2021; to consider and approve the proposed remuneration of Directors and Supervisors for 2022; to consider and approve the proposed 2021 Profit Distribution Plan; and to consider any other matters. Recent Insider Transactions • May 22
Board Member recently bought HK$188k worth of stock On the 19th of May, Yonghui Shi bought around 18k shares on-market at roughly HK$10.25 per share. In the last 3 months, they made an even bigger purchase worth HK$835k. Insiders have collectively bought HK$4.1m more in shares than they have sold in the last 12 months. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. SVP, Chief Strategy & Development Officer and Executive Director Yonghui Shi was the last director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 12
Board Member recently bought HK$448k worth of stock On the 7th of April, Yonghui Shi bought around 40k shares on-market at roughly HK$11.21 per share. In the last 3 months, they made an even bigger purchase worth HK$835k. Insiders have collectively bought HK$2.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Apr 02
Board Member recently bought HK$835k worth of stock On the 31st of March, Yonghui Shi bought around 74k shares on-market at roughly HK$11.35 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$1.6m more in shares than they have sold in the last 12 months. Reported Earnings • Mar 28
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: CN¥0.13 loss per share (up from CN¥0.34 loss in FY 2020). Revenue: CN¥151.4m (up 101% from FY 2020). Net loss: CN¥48.2m (loss narrowed 60% from FY 2020). Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 101%, compared to a 41% growth forecast for the industry in Hong Kong. Breakeven Date Change • Dec 31
Forecast to breakeven in 2024 The 2 analysts covering MicroTech Medical (Hangzhou) expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of CN¥169.0m in 2024. Average annual earnings growth of 70% is required to achieve expected profit on schedule. Board Change • Oct 19
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. was the last director to join the board, commencing their role in . The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
