Valuation Update With 7 Day Price Move • May 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$1.81, the stock trades at a trailing P/E ratio of 49.1x. Average trailing P/E is 16x in the Medical Equipment industry in Hong Kong. Total loss to shareholders of 22% over the past three years. Live News • May 23
LifeTech Scientific Agrees to Acquire 96% of Starway Medical in US$274 Million Deal LifeTech Scientific has agreed to acquire about 96.46% of Beijing-based Starway Medical Technology through a convertible bond deal valued at roughly RMB1.8733b (about US$274m).
Starway Medical will become a non-wholly-owned subsidiary of LifeTech, with its financial results expected to be consolidated into LifeTech’s financial statements.
The transaction is classified as a major deal under Hong Kong listing rules and will be funded via convertible bonds rather than an immediate cash payment, subject to regulatory and shareholder approvals.
This move indicates a push to expand LifeTech’s earnings base and scale within the medical technology sector while using convertible bonds to avoid an upfront cash outlay.
Investors may want to monitor the approval process, the eventual terms of conversion and how the integration of Starway Medical affects LifeTech’s balance sheet, earnings quality and shareholder dilution over time. Buy Or Sell Opportunity • May 04
Now 22% undervalued Over the last 90 days, the stock has risen 21% to HK$2.09. The fair value is estimated to be HK$2.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has declined by 37%. Reported Earnings • Apr 04
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.034 (down from CN¥0.051 in FY 2024). Revenue: CN¥1.37b (up 5.1% from FY 2024). Net income: CN¥147.8m (down 34% from FY 2024). Profit margin: 11% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 63%. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Mar 31
LifeTech Scientific Corporation, Annual General Meeting, May 28, 2026 LifeTech Scientific Corporation, Annual General Meeting, May 28, 2026. New Risk • Mar 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.7% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Announcement • Mar 12
LifeTech Scientific Corporation to Report Fiscal Year 2025 Results on Mar 31, 2026 LifeTech Scientific Corporation announced that they will report fiscal year 2025 results on Mar 31, 2026 Announcement • Jan 28
LifeTech Scientific Corporation Announces Board and Committees Changes, Effective January 26, 2026 LifeTech Scientific Corporation announced that the Board received a letter of resignation from Mr. Wang Wansong whereby he tendered his resignation as an independent non-executive Director and his positions as chairman of the Remuneration Committee and a member of each of the Audit Committee and Nomination Committee of the Company with effect from January 26, 2026 in order to meet the requirements of The Stock Exchange of Hong Kong Limited in relation to long-serving independent non-executive Directors who have served for more than nine years. Following the resignation of Mr. Wang, the Company only has two independent non-executive Directors, the number of independent non-executive Directors and number of members of each of the Audit Committee, Nomination Committee and Remuneration Committee falls below the number required under Rules 3.10(1), 3.21 and 3.25 of the Rules Governing the Listing of Securities of the Stock Exchange. The Board will make its best endeavours to identify suitable candidate to fill the vacancy as soon as practicable and in any event within three months from the date of resignation of Mr. Wang in order to ensure compliance by the Company with the requirements under the Listing Rules. The Company will further make an announcement as soon as practicable after the appointment of the new independent non-executive Director. The Board announced that with effect from January 26, 2026: (i) Mr. Wang ceased to be the chairman of the Remuneration Committee and a member of each of the Audit Committee and Nomination Committee; and (ii) Ms. Chen Dongxia has been appointed as the chairlady of the Remuneration Committee. Announcement • Jan 14
LifeTech Scientific Corporation Obtains Formal Written Notice from the National Medical Products Administration Confirming the Concave Supra-Arch Branched Stent-Graft System LifeTech Scientific Corporation announced that on 9 January 2026, the Company obtained formal written notice from the National Medical Products Administration confirming that the Concave Supra-arch Branched Stent-Graft System (the "CS™? Stent-Graft System" or the "Product"), a product jointly developed by Professor Shu Chang of Fuwai Hospital, the Chinese Academy of Medical Sciences of the National Centre for Cardiovascular Diseases, and the Group, has been admitted into the NMPA Special examination and Approval Procedure for Innovative Medical Devices (the "Procedure"). The Product is suitable for the minimally invasive treatment of complex aortic arch aneurysms and penetrating ulcers. It represents the world's first integrated triple-branched reconstruction solution for aortic arch diseases aimed at eliminating cerebral ischemia and the 17th product of the Company having obtained admission to the Procedure. The aortic arch lesion, with its complex anatomical structures and unique hemodynamics, is considered one of the most challenging fields on the "technical high ground" of vascular surgery and endovascular intervention. Through long-term clinical exploration, various branch reconstruction techniques have continued to evolve and mature. However, achieving the higher goal of complete endovascular integrated reconstruction of the three branches of the aortic arch has long been hindered by the lack of specialized devices truly adapted to the complex anatomy of the arch and capable of synchronous reconstruction of all three branches of the aortsic arch. In response to this challenge, Professor Shu Chang's team, in collaboration with the Company, has developed the CS™? Stent-G graft System through dedicated research and innovation. The integrated structure ensures safety and reliability, preventing endoleaks and maintaining high branch patency rate; Rapid pacing assistance is unnecessary and precise deployment can be achieved solely through blood pressure control; Simplified positioning and alignment, easier branch selection and smoother surgical operation. The feasibility study (First-in-Man study) of the CS™? Stent - Stent-Graft System, led by Professor Shu Chang as the principal investigator (PI), completed enrollment of all 10 patients in June 2023. The 12-month postoperative follow-up results demonstrated excellent apposition of the stent graft to the aortic arch and the arch branches, with no occurrence of endoleaks, patency of all branch arteries, and absence of adverse events, thus providing preliminary validation of the safety and efficacy of this innovative product. Subsequently, the "pro prospective, multicenter, single-arm objective performance criteria" registration clinical trial was initiated. The trial plans to enroll 103 patients across 25 leading centers nationwide. As of 31 August 2025, 52 patients have been enrolled. The interim clinical results further validate the clinical value and application prospects of the CS™? StENT-Graft System with respect to complete endovascular triple-branched reconstruction of the aortic arch: Immediate technical success rate: 100%; 30-day postoperative all-cause mortality rate: only 1.92%; 30-day postoperative disabling stroke rate: only 1.92%. No occurrence of severe complications such as permanent paraplegia or retrograde type A aortic dissection;. No occurrence of device-related adverse events. The Group possesses independent intellectual property rights to the Product. Currently, the Product has been successfully implanted in multiple clinical cases in Germany, Switzerland, Greece, and Hong Kong, China. Its exceptional performance and clinical value have gained high recognition and widespread attention from international clinical experts. The Company anticipates that there will be richer evidence-based medicine (EBM) evidence to further confirm the safety and effectiveness of the Product. The Board believes that the admission of the Product into the Procedure will shorten its registration process and accelerate its market launch. It is expected that the launch of the Product will benefit patients with aortic Arch aneurysms and ulcers, while simultaneously expanding the product portfolio of the Company. This will contribute to building the world's most comprehensive minimally invasive aortic treatment solution, covering three critical technical areas, namely endovascular reconstruction of aortic arch branches, namely endovascular reconstruction. Announcement • Jan 08
LifeTech Scientific Corporation Obtains Official Registration Approval from the China National Medical Products Administration The board of directors of LifeTech Scientific Corporation announced that on 7 January 2026, the G-iliac™? Pro iliac artery stent graft system ("G-iliac™? Pro" or the "Product"), a device independently developed by the Company, obtained official registration approval from the China National Medical Products Administration (" NMPA"). The Product is indicated for the endovascular treatment of abdominal aortic aneurysms combined with iliac artery aneurysms or isolated common iliac arteries aneurysms. It ensures pelvic blood supply through internal iliac artery reconstruction, providing a more mature and improved solution for clinical practice, thereby achieving a systematic upgrade of existing treatment protocols. The internal iliac artery, a major branch of the common iliac artery, plays a crucial role in the blood supply to pelvic organs, gluteal muscles, and the spinal cord. In early endovascular aneurysm repair (" EVAR") procedures, unilateral or bilateral embolization of internal iliac arteries was often performed to prevent endoleaks. This practice, however, led to a series of complications, including buttock claudication, sexual dysfunction, colonic ischemia, rectal necrosis, spinal cord deficits, and even paraplegia, thus severely compromising patients' long-term quality of life. Numerous domestic and international guidelines and consensus statements have clearly established that preserving at least one internal iliac artery during EVAR can lead to favorable patient outcomes. The Iliac Branch Device ("IBD") technique, due to its superior anatomical alignment, lower endoleak rate, and higher long-term patency rate, has gradually emerged as the preferred endovascular approach for internal iliac artery reconstruction. Multicenter clinical applications and real-world studies have demonstrated that the G-iliac®? excels in safety, patency rate, and procedural stability, enabling physicians to more efficiently perform internal iliac artery reconstruction in complex anatomical conditions. Reported Earnings • Aug 31
First half 2025 earnings released: EPS: CN¥0.013 (vs CN¥0.046 in 1H 2024) First half 2025 results: EPS: CN¥0.013 (down from CN¥0.046 in 1H 2024). Revenue: CN¥676.7m (up 3.7% from 1H 2024). Net income: CN¥55.1m (down 73% from 1H 2024). Profit margin: 8.1% (down from 32% in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Aug 22
LifeTech Scientific Corporation Obtains Formal Written Notice from the National Medical Products Administration Confirming the Inauguration of Congenital Heart Defect Occluder into Special Examination and Approval Procedure LifeTech Scientific Corporation announced that on 20 August 2025, the Company obtained formal written notice from the National Medical Products Administration confirming the admission of Congenital Heart Defect Occluder into NMPA Special examination and Approval Procedure for Innovative Medical Devices. The Product is the 16th product of the Company having obtained admission to the Procedure. Patent ductus arteriosus is one of the most common congenital heart diseases in clinical practice, accounting for approximately 12% to 15% of the incidence rate of all congenital heart diseases, and it may lead to serious complications such as pulmonary hypertension and heart failure if not treated in a timely manner. Transcatheter PDA occlusion procedure has gradually become the preferred treatment option for patients who meet the criteria due to its advantages of being minimally invasive, safe and with fast recovery. However, due to the existence of different structures and sizes of PDA, as well as the varying vascular conditions of patients, the adaptability of occlusion devices is faced with more challenges, making innovative devices that cater to multiple situations more necessary in clinical practice. The Product is suitable for interventional treatment of congenital PDA, and is the first domestically produced PDA occlusion with a full nitinol metal main body structure that can achieve bidirectional release of "antegrade approach" and "retrograde approach". The Product is woven from nitinol wires and designed with a self-expanding asymmetric double disc structure. Both the left and right discs can be connected to the delivery cable, allowing for flexible selection of either the "antegrade approach" or "retrograde approach" based on the patient's condition. Compared with the traditional antegrade approach, the retrograde approach is more convenient to operate, which not only shortens the procedural time, but also provides better treatment options for patients with venous system contraindications, allowing doctors to have more flexible solutions to face different types of PDA challenges. The Group possesses independent intellectual property rights to the Product. At present, the registered clinical trials of the Product in China are steadily advancing, and the Company expects that there will be richer evidence-based medicine (EBM) evidence to further confirm the safety and effectiveness of the Product. The Board believes that the admission of the Product into the Procedure will shorten the registration process of the Product, whereby expediting its launching process. It is expected that the launch of the Product will benefit PDA patients while enriching the Group's product portfolio and fostering the Group's development in medical devices. Announcement • Aug 11
LifeTech Scientific Corporation to Report First Half, 2025 Results on Aug 29, 2025 LifeTech Scientific Corporation announced that they will report first half, 2025 results on Aug 29, 2025 Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$2.03, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Medical Equipment industry in Hong Kong. Total loss to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to HK$1.89, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Medical Equipment industry in Hong Kong. Total loss to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to HK$1.31, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Medical Equipment industry in Hong Kong. Total loss to shareholders of 46% over the past three years. Reported Earnings • Apr 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.051 (down from CN¥0.06 in FY 2023). Revenue: CN¥1.30b (up 2.9% from FY 2023). Net income: CN¥222.4m (down 16% from FY 2023). Profit margin: 17% (down from 21% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 27%. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 15% per year. New Risk • Mar 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (19% net profit margin). Announcement • Mar 28
LifeTech Scientific Corporation, Annual General Meeting, May 28, 2025 LifeTech Scientific Corporation, Annual General Meeting, May 28, 2025. Announcement • Mar 21
LifeTech Scientific Corporation's Pre-market Clinical Trial of LAmbre Plus Left Atrial Appendage System Obtains Medical Insurance Coverage in the US The board of directors of the LifeTech Scientific Corporation announced that on 19 March 2025, a trial of the Group's LAmbre TM Plus Left Atrial Appendage Closure System obtained medical insurance coverage in the US. The Trial was initiated by the Company, and all patients enrolled will receive medical coverage. The primary objective of the Trial is to demonstrate the safety and efficacy of the LAmbre TM Plus in reducing the risk of thromboembolism in patients with non-valvular atrial fibrillation by randomized comparison with the commercially available transcatheter LAAO control devices. The Trial is a prospective, multicenter, randomized controlled study which expects to implant the LAmbreTM Plus at a fee at up to 75 investigational sites in the US. The marketing application for the Device will be submitted to the US Food and Drug Administration after satisfying certain clinical milestones. The Device was independently developed by the Company with further structural optimization on the basis of LAmbreTM Left Atrial Appendage Closure System. LAmbreTM is an advanced product in the industry in terms of design and technology which has been widely used in almost 40 countries with nearly 40,000 cases in clinical application around the world. This is a major milestone in the process of international development of the Group. The Company is confident that the Device will obtain US market approval from the FDA after completing pre-market clinical research in the US. Announcement • Mar 10
LifeTech Scientific Corporation to Report Fiscal Year 2024 Results on Mar 28, 2025 LifeTech Scientific Corporation announced that they will report fiscal year 2024 results on Mar 28, 2025 Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.70, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 10x in the Medical Equipment industry in Hong Kong. Total loss to shareholders of 44% over the past three years. Announcement • Feb 12
Lifetech Scientific Corporation Announces the Ankura Aortic Stent Graft System Obtains Official Registration Approval from the China National Medical Products Administration LifeTech Scientific Corporation announced that on 8 February 2025, the Ankura Aortic Stent Graft System (the "Product") jointly developed by Professor Shu Chang of Fuwai Hospital, Chinese Academy of Medical Sciences, and the Group, obtained official registration approval from the China National Medical Products Administration (" NMPA"). The Product is the first aortic stent graft system approved by NMPA to be explicitly applicable to the chimney technique, providing a new treatment option for patients with lesions involving the aortic arch, which is simple to operate, safe and effective, and has a wide range of anatomical adaptations. The Product consists of Ankura™? Pro Aortic Stent G graft System (the "An Ankura™? Pro") and Longuette™? Aortic Branch Stent Graft System. The Ankura™? Pro adopts ePTFE film coating and offers a variety of tapers from 0 to 10 for patients to meet different clinical needs. The LonguetteTM Skirt Stent adopts a dual-layer stent design with an external skirt layer that can fill the gutter between the branch stent and the aortic stent once released. It is expected that the Longuette™? Skirt Stent can prevent the incidence of endoleak and reduce the risk of complications. According to the three-year follow-up result, the incidence of the endoleak is only 3.36%, far lower than that of traditional chimney technique (10.7%~16.4%). The inner layer is made of high-density nickel titanium alloy skeleton, and the proximal reinforcement segment that provides strong radial support to prevent from being compressed by aortic stent, ensuring long-term patency of the branch vessel. The patency rate of the branch vessel during the one-year follow-up after surgery was 97.87%, which was higher than that of the traditional chimney technique (93%). The Product can be implanted easily, and it is also safe and efficient with an immediate technical success rate of 99.33% and a one-year post-operative success rate of 95.77% for aortic dissection treatment. The Product possesses independent intellectual property rights and a number of international patents. It is expected to provide a complete, safe and effective endovascular repair solution for patients with lesions involving the Aortic arch, which is completely interventional with the expected benefits of less trauma and simpler operation. The Product is the first approved product under the Company's comprehensive solution for the reconstruction of aortic arch branches. As the commercialization process continues to progress, the Company will provide an integrated solution for endovascular aortic arch reconstruction that is more flexible, comprehensive, safer and more effective, and simple to operate. Furthermore, in collaboration with industry experts, the Company will advance the research, development, and launch of additional device products that are urgently needed in clinical practice, thereby driving the Group's development in the field of medical devices and benefiting a wide range of patients. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.48, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 10x in the Medical Equipment industry in Hong Kong. Total loss to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to HK$1.81, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 10x in the Medical Equipment industry in Hong Kong. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to HK$1.61, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 10x in the Medical Equipment industry in Hong Kong. Total loss to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$1.74, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 10x in the Medical Equipment industry in Hong Kong. Total loss to shareholders of 57% over the past three years. Reported Earnings • Sep 02
First half 2024 earnings released: EPS: CN¥0.046 (vs CN¥0.049 in 1H 2023) First half 2024 results: EPS: CN¥0.046 (down from CN¥0.049 in 1H 2023). Revenue: CN¥652.8m (up 2.1% from 1H 2023). Net income: CN¥205.6m (down 6.6% from 1H 2023). Profit margin: 32% (down from 34% in 1H 2023). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Medical Equipment industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. New Risk • Aug 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 19% Last year net profit margin: 28% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (19% net profit margin). Announcement • Aug 12
LifeTech Scientific Corporation to Report First Half, 2024 Results on Aug 30, 2024 LifeTech Scientific Corporation announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • May 16
LifeTech Scientific Corporation Announces One-Year Follow-Up Results of Phase II Clinical Study of IBS Sirolimus-Eluting Iron Bioresorbable Coronary Scaffold System The board of directors of LifeTech Scientific Corporation announced that the one-year follow-up of the phase II clinical study (the "Phase II Clinical Study") on the Group's self-developed IBS ® Sirolimus-Eluting Iron Bioresorbable Coronary Scaffold System ("IBS ® Coronary Scaffold" or the "Product") has been successfully completed, and the results were announced globally for the first time by Dr. Lei Song, the director of Fuwai Hospital, Chinese Academy of Medical Sciences, on behalf of Academician Runlin Gao and entire research and development team, at the EuroPCR 2024 on 14 May 2024. The Phase II Clinical Study on IBS ® Coronary Scaffold is a prospective, multi-center, single-blinded, randomized trial. The primary endpoint of the study was in-segment late lumen loss two years after the implantation of the coronary scaffold. The Phase II Clinical Study was officially launched in March 2022 and 518 subjects enrolled within nine months in 36 study sites, with a 1:1 random allocation to the experimental group (IBS ® Coronary Scaffold) and the control group (Xience ® Everolimus Eluting Coronary Stent). The one-year clinical follow-up results showed that there was no significant difference in the incidence of Target Lesion Failure (TLF) between the experimental and control groups (experimental group: 2.3%, control group: 2.7%, P=0.78). The incidence rates of cardiac death (experimental group: 0, control group: 1.2%, P=0.20) and target vessel-related myocardial infarction (experimental group: 0.4%, control group: 1.2%, P=0.37) were also similar in both groups with no device-related thrombosis occurred. The current data preliminarily proves that the IBS ® Coronary Scaffold is not inferior to the current mainstream drug-eluting metal stent on the market and shows its remarkable performance in terms of safety and effectiveness. IBS ® Coronary Scaffold is the world's first fully degradable iron-based bioresorbable coronary scaffold, as far as the Company is aware. The backbone is processed from high-purity nitrided iron pipes with high strength and plasticity, and the strut is thin with a high radial strength. The innovative material research and unique technological approach enable the Product to retain the advantages of permanent metal coronary stents, namely complete specifications, superior physical properties, good biocompatibility, simple operation and has fully absorbable characteristics, thereby effectively avoiding a series of long-term prognosis issues that may arise from the implantation of permanent metal stents. The announcement of the one-year follow-up results of the Phase II Clinical Study of IBS ® Coronary Scaffold further enhances the evidence-based medical evidences for this innovative product and will lay a solid foundation for the global development of the Product and other core products on the company's iron-based bioresorbable material platform. Currently, IBS ® Coronary Scaffold has been successfully submitted for CE registration approval and is expected to become the second successfully commercialized iron-based bioresorbable scaffold product in European Union, following the IBS Angel TM Iron Bioresorbable Scaffold System. With the steady progress of follow-up clinical trials, more evidence-based medical evidences are expected to further confirm the safety and effectiveness of the Product. The Company believes that when it is launched to the market, IBS ® Coronary Scaffold will bring unprecedented treatment for patients with coronary heart disease all over the world. Announcement • Mar 29
LifeTech Scientific Corporation, Annual General Meeting, May 27, 2024 LifeTech Scientific Corporation, Annual General Meeting, May 27, 2024. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: CN¥0.06 (vs CN¥0.077 in FY 2022) Full year 2023 results: EPS: CN¥0.06 (down from CN¥0.077 in FY 2022). Revenue: CN¥1.27b (up 16% from FY 2022). Net income: CN¥263.2m (down 19% from FY 2022). Profit margin: 21% (down from 30% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Mar 06
LifeTech Scientific Corporation to Report Fiscal Year 2023 Results on Mar 28, 2024 LifeTech Scientific Corporation announced that they will report fiscal year 2023 results on Mar 28, 2024 Reported Earnings • Sep 01
First half 2023 earnings released: EPS: CN¥0.049 (vs CN¥0.05 in 1H 2022) First half 2023 results: EPS: CN¥0.049. Revenue: CN¥639.5m (up 15% from 1H 2022). Net income: CN¥220.2m (up 2.5% from 1H 2022). Profit margin: 34% (down from 39% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Medical Equipment industry in Hong Kong. Announcement • Aug 22
Epione Surgical Navigation System Obtained Official Registration Approval by the China NMPA LifeTech Scientific Corporation announced that on 16 August 2023, the Epione ® Surgical Navigation System, introduced by Dongguan LifeTech-Quantum Medical Technology Co. Ltd. obtained official registration approval by the China National Medical Products Administration ("NMPA"). The Product is a user controlled, stereotactic accessory intended to assist in the planning and manual advancement of rigid straight instruments, as well as in verification of instrument position during Computed Tomography (CT) guided percutaneous procedure. It can provide stable, accurate, and repeatable instrument navigation, which can simplify the operation and reduce the operative risk. Epione is designed to improve operation efficiency, reduce needle adjustments, reduce radiation dose, and reduce the probability of complications, which has great value especially for the treatment of complex lesions. In September 2021, Epione obtained the European CE certification, and it was approved by the US Food and Drug Administration (the "FDA") for the treatment of liver cancer in March 2022, and also received approval by the FDA for the extension of application scope to all abdominal tumors in May 2023. In August 2023, Epione ® obtained registration approval by the NMPA, with indications covering all abdominal organs. Epione is an open robotic solution that is compatible with various treatment methods such as tumor ablation, biopsy, and particle implantation. For tumor ablation surgery, the design of Epione ® allows doctors to choose different ablative technologies so that they can determine the right therapy for each individual. The goal of Epione ® is to dramatically ease multiple probe procedures, which will make the treatment of large tumors more predictable. Additionally, the arm of Epione ® offers 6 degrees of freedom and unprecedented dexterity to access difficult trajectories when targeting abdominal tumors. Epione ® has gradually been applied in clinical treatment in Europe and the United States. It is expected that over 4 million patients worldwide will be able to benefit from Epione ® treatment. The Group will continue with independent innovation, and work with industry experts to advance the development and marketing of innovative medical device products to benefit a large number of patients. Announcement • Aug 11
LifeTech Scientific Corporation to Report First Half, 2023 Results on Aug 30, 2023 LifeTech Scientific Corporation announced that they will report first half, 2023 results on Aug 30, 2023 Announcement • Jul 11
Lifetech Scientific Corporation Announces Enrollment in the Phase Iii Clinical Study of Ibs®? Sirolimus-Eluting Iron Bioresorbable Coronary Scaffold System Completed The board of directors of LifeTech Scientific Corporation announced that on 7 July 2023, the enrollment of the self-developed IBS Sirolimus-Eluting Iron Bioresorbable Coronary Scaffold System in the China Prospective Multicenter Single-arm Clinical Study was completed. The Phase III Clinical Study is a crucial component of the confirmatory clinical study of the Product in China. It was officially launched in February 2023 and it has completed the enrollment of more than 800 subjects in total only after five months. The operation success rate is 100%. Up to now, no device-related serious adverse events (SAE) have occurred. At this point, the enrollment of the confirmatory clinical study the Product in China has completed, and it has fully entered the clinical follow-up stage. After reaching the primary endpoint, the application for marketing approval will be submitted in China. The Chinese confirmatory clinical study of IBS Coronary Scaffold was approved in August 2021. According to the guidelines issued by the Center for Drug Evaluation (CDE) of the National Medical Products Administration (the "NMPA"), it is divided into two parts: randomized controlled study (phase II clinical study) and single-arm objective performance criteria study (phase III clinical study), aiming to evaluate the safety and effectiveness of IBS Coronary Scaffold in patients with coronary heart disease. The confirmatory clinical study of IBS ® Coronary Scaffold in China was conducted by Academician Gao Runlin as the principal investigator (PI), with Academicians Ge Junbo, Han Yaling and clinical experts from around 40 clinical research centers all over the country fully participating. Previously, the Phase II clinical study successfully completed all the enrollment of 518 subjects in nine months, with an operation success rate of 100%. All patients had completed six-month follow-up, and no device-related serious adverse events (SAE) occurred. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: CN¥0.077 (vs CN¥0.068 in FY 2021) Full year 2022 results: EPS: CN¥0.077 (up from CN¥0.068 in FY 2021). Revenue: CN¥1.10b (up 19% from FY 2021). Net income: CN¥325.3m (up 11% from FY 2021). Profit margin: 30% (down from 32% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 17% share price gain to HK$3.16, the stock trades at a trailing P/E ratio of 41.5x. Average trailing P/E is 24x in the Medical Equipment industry in Hong Kong. Total returns to shareholders of 112% over the past three years. Announcement • Dec 14
LifeTech Scientific Corporation Announces Enrollment in the China Randomized Controlled Clinical Study of IBS Sirolimus-Eluting Iron Bioresorbable Coronary Scaffold System Completed The board (Board) of directors (Directors) of the Company announced that on 13 December 2022, the enrollment in the China Prospective Multicenter Randomized Controlled Clinical Study (the "Phase II" or the "Study") of the self-developed IBS Sirolimus-Eluting Iron Bioresorbable Coronary Scaffold System ("IBS Coronary Scaffold" or the "Product") was completed and clinical enrollment in the China Prospective Multicenter Single-arm Target Study (the "Phase III") will be initiated. A total of 518 subjects were enrolled in Phase II and randomly assigned in a 1:1 ratio to the test and control groups, and the objective of the Study is to evaluate the safety and effectiveness of the IBS Coronary Scaffold in patients with coronary heart disease. The Study took nine months from the first enrollment in March 2022 to the completion of all enrollments. Up to now, the device and surgery success rates are both 100% and no device-related serious adverse events (SAE) have occurred. As the world's first fully degraded iron-based bioresorbable coronary scaffold, the FIM for IBS Coronary Scaffold clinical implantation began in 2018, and it has completed the three-year follow-up, and the preliminary results demonstrate good intermediate-term safety and efficacy in simple primary coronary lesions. The completion of Phase II enrollment is another milestone for the Product, and with the advancement of follow-up clinical trials, there will be more clinical evidences to further confirm the safety and effectiveness of the Product. Upon the successful launch of the Product, the IBS Coronary Scaffold is expected to be an unprecedented treatment for patients with coronary heart disease all over the world. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Wansong Wang was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 05
LifeTech Scientific Corporation Announces FDA Approval Investigator-Initiated Pre-Market Clinical Trial of Lambre Plus Laa Closure System Obtained Medical Insurance Coverage in the US LifeTech Scientific Corporation announced that on 30 August 2022, an FDA-approved investigator-initiated pre-market clinical trial of its proprietary LAmbre Plus Left Atrial Appendage (LAA) Closure System has obtained medical insurance coverage in the United States, meaning that all patient enrollment of the clinical trial will be fully covered by the USA medical insurance. This is expected to facilitate the marketing and registration process of the innovative device in the United States and provide strong clinical data to support the development of the device in the global market. The investigator-initiated pre-market clinical trial received FDA approval in March 2022. This prospective, randomized, controlled, multicenter clinical trial aims to evaluate the safety and efficacy of the implantation of LAmbre Plus LAA occluder in non-valvular atrial fibrillation patients with large and/or irregularly shaped appendages, as compared to oral anticoagulants. The trial is planning to enroll more than 3,000 subjects from up to 75 investigational sites in the United States and undertake more than 1,500 implantations of the LAmbre™ Plus LAA occluders at a fee. After reaching the established clinical objectives and conditions, the company will submit the marketing application of the device to the FDA. Reported Earnings • Aug 31
First half 2022 earnings released: EPS: CN¥0.05 (vs CN¥0.047 in 1H 2021) First half 2022 results: EPS: CN¥0.05 (up from CN¥0.047 in 1H 2021). Revenue: CN¥555.2m (up 20% from 1H 2021). Net income: CN¥214.8m (up 5.1% from 1H 2021). Profit margin: 39% (down from 44% in 1H 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Aug 13
LifeTech Scientific Corporation to Report Q2, 2022 Results on Aug 30, 2022 LifeTech Scientific Corporation announced that they will report Q2, 2022 results on Aug 30, 2022 Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Wansong Wang was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.068 (up from CN¥0.05 in FY 2020). Revenue: CN¥925.3m (up 44% from FY 2020). Net income: CN¥292.5m (up 35% from FY 2020). Profit margin: 32% (down from 34% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 38%, compared to a 39% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
LifeTech Scientific Corporation, Annual General Meeting, May 27, 2022 LifeTech Scientific Corporation, Annual General Meeting, May 27, 2022. Announcement • Nov 25
Lifetech Scientific Corporation Announces YuranosTM Abdominal Aortic Stent Graft System Obtained Registration Approval from the China NMPA LifeTech Scientific Corporation announced that on 23 November 2021, the Group's self-developed Yuranos TM Abdominal Aortic Stent Graft System ("Yuranos TM " or the "Device") obtained registration approval from the China National Medical Products Administration ("NMPA"). Yuranos TM is used for the treatment of subrenal abdominal aortic aneurysms. Compared with products in the same category, it is suitable for more complex tumor morphology, can meet more complicated clinical anatomy and has a wider range of indications: the proximal end of the abdominal aortic aneurysm has a minimum tumor neck length of 10mm and a maximum subrenal angle of 75°. The device has a split design, which includes an Abdominal Aortic Bifurcation Stent Graft System and an Iliac Artery Extension Stent Graft System. Each system includes a stent graft and a delivery system. The stent graft is composed of a nickel-titanium skeleton and a PET film. Each stent graft is loaded in its own delivery system, and the stent graft is delivered and released to a predetermined position during the operation. The device also has a unique design, which can effectively improve the effect of intraoperative and long-term treatment, and reduce the risk of complications: the barb at the proximal bare end of the cover of the main body and the closed-loop mini support wave design increase the anchoring, adhesiveness and flexibility of the Abdominal Aortic Bifurcation Stent Graft, effectively preventing displacement and type I endoleak; the barbed design of the Iliac Artery Extension Stent Graft enhances the connection force between components, and effectively prevent type III endoleak caused by the component falling off; the post-release function of the delivery system is combined with the anchoring area design of the stent graft component to achieve accurate positioning and control and improve the availability of the device and the success rate of immediate surgery. Reported Earnings • Sep 01
First half 2021 earnings released: EPS CN¥0.047 (vs CN¥0.023 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥461.1m (up 69% from 1H 2020). Net income: CN¥204.4m (up 107% from 1H 2020). Profit margin: 44% (up from 36% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 28% per year. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorated over the past week After last week's 22% share price decline to CN¥4.40, the stock trades at a forward P/E ratio of 73x. Average forward P/E is 27x in the Medical Equipment industry in Hong Kong. Total returns to shareholders of 98% over the past three years. Announcement • Jun 10
LifeTech Scientific Corporation Announces Grant of Medical Device Registration Certificate in Malaysia for Its Self-Developed Ibs Angeltm Iron Bioresorbable Scaffold System LifeTech Scientific Corporation announced that on 8 June 2021, the Group's self-developed IBS AngelTM Iron Bioresorbable Scaffold System has been granted with Medical Device Registration Certificate in Malaysia. IBS AngelTM consists of iron bioresorbable stent and delivery system for the purpose of improving the lumen diameter of the pulmonary blood vessels of patients who require stent treatment. The scaffold matrix is made of high-strength nitrided iron tube. The design of having multiple breakpoints on the scaffold strut ensures that the scaffold could be disintegrated soon after the effective support period, without constraining the growth of blood vessels. The scaffold can be degraded and finally absorbed by human tissue. The innovative material and structure design can ensure reasonable absorption profile of the scaffold. Compared with permanent stent currently available on the market, the Product has unique advantages in treating newborns and infants with insufficient blood supply in pulmonary blood vessels. As children develop, the permanent stent will restrain the growth of their blood vessels, resulting in restenosis, which requires treatment by means of a second intervention or even surgery to resolve the above problems, causing additional burden on such children's body. The Product, meanwhile, will fundamentally resolve the aforementioned problems due to its degradability. Furthermore, IBS AngelTM has a thin-strut design compatible with 4F sheath (inner diameter ~1.35mm) as a minimum, which is especially suitable for small vessels of newborns. At present, IBS AngelTM has been approved for sale in Malaysia, being the only absorbable stent product suitable for children in the world, benefiting patients. At the same time, the Product is actively undergoing CE and domestic registration, and is expected to become the first iron-based absorbable stent to be marketed in the EU and China. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥4.45, the stock trades at a forward P/E ratio of 75x. Average forward P/E is 25x in the Medical Equipment industry in Hong Kong. Total returns to shareholders of 85% over the past three years. Executive Departure • Apr 21
Non-Executive Director has left the company On the 19th of April, Feng Fu's tenure as Non-Executive Director ended after 1.6 years in the role. We don't have any record of a personal shareholding under Feng's name. Feng is the only executive to leave the company over the last 12 months. Reported Earnings • Apr 18
Full year 2020 earnings released: EPS CN¥0.05 (vs CN¥0.031 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥642.3m (down 4.0% from FY 2019). Net income: CN¥216.1m (up 67% from FY 2019). Profit margin: 34% (up from 19% in FY 2019). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS CN¥0.05 (vs CN¥0.031 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥642.3m (down 4.0% from FY 2019). Net income: CN¥216.1m (up 67% from FY 2019). Profit margin: 34% (up from 19% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 12
LifeTech Scientific Corporation to Report Fiscal Year 2020 Results on Mar 30, 2021 LifeTech Scientific Corporation announced that they will report fiscal year 2020 results on Mar 30, 2021 Is New 90 Day High Low • Mar 04
New 90-day low: HK$3.62 The company is down 9.0% from its price of HK$3.98 on 04 December 2020. The Hong Kong market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$1.91 per share. Announcement • Jan 28
Lifetech Scientific Corporation Announces Admission to Special Examination and Approval Procedure for Innovative Medical Devices in Respect of Artery Stent Graft System The board of directors of the LifeTech Scientific Corporation announced that on 27 January 2021, the Company obtained formal written notice from the National Medical Products Administration ("NMPA") confirming the admission of Artery Stent Graft System (the Product) into NMPA Special Examination and Approval Procedure for Innovative Medical Services. The Product is the 13th product of the Company having obtained admission to the Procedure. The Product consists of the Ankura Pro Artery Stent Graft System (Ankura Pro) and Longuette Aortic Branch Stent Graft System (Longuette Skirt Stent). It is the stent graft system adopted chimney technology and
is developed to treat aortic dissection lesion involving the aortic arch. Ankura Pro has the ability to resist swelling and offers a variety of tapers, making it appropriate for patients with acute and subacute aortic dissections. The Longuette Skirt Stent adopts a segmented design concept. The proximal end of the segmented stent provides a large radial support force. When used with the main stent, it can maintain a shape to facilitate smooth blood flow in the branch blood vessels. The distal end of the segmented stent has higher compliance and smaller radial support force which can adapt to various distorted branch blood vessels of various anatomical shapes. The Product possesses independent intellectual property rights and a number of international patents. It is expected to provide a complete, safe and effective endovascular repair solution for the treatment of aortic dissection lesion involving the aortic arch, which is completely interventional with the expected benefits of causing less trauma, being simpler to operate and easier to acclimatize. The Board believes that the admission of the Product into the Procedure will shorten
the registration process of the Product, whereby expediting its launching process. It is expected that the launching of the Product will benefit patients suffering from aortic dissection lesion involving the aortic arch while enriching the Group's product portfolio and fostering the Group's development in medical devices. Is New 90 Day High Low • Jan 22
New 90-day high: HK$5.46 The company is up 164% from its price of HK$2.07 on 23 October 2020. The Hong Kong market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$1.94 per share. Is New 90 Day High Low • Dec 30
New 90-day high: HK$4.43 The company is up 127% from its price of HK$1.95 on 30 September 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$1.97 per share. 
