MicroPort NeuroTech (2172) expects to achieve a turnaround in 2023.
The neuro-interventional medical device provider said it expects to record a 36 percent increase in adjusted net profit to at least 178 million yuan (HK$195.8 million) for the year ended December 2023, according to a filing yesterday.
It had posted a net loss of 24.68 million yuan in 2022.
The turnaround in profit was attributed to its multiple leading products that continued to expand into hospital and low-tier markets, further contributing growth in revenue.
Meanwhile, the rise in revenue was also due to a newly approved product that sold very well inn hospitals during the period.
In addition, through the implementation of supply chain improvement and cost-saving measures, the company said it continued to improve its gross profit margin and operating efficiency, resulting in an increase in profitability.
