LEPU ScienTech Medical Technology (Shanghai) Co., Ltd. (“SCIENTECH”) released its audited results for the year ended 31 December 2025.

Revenue and Profitability • Revenue grew 11.94% year-on-year to RMB527.94 million, supported by the first-time contribution from heart-valve products. • Gross profit increased 5.40% to RMB447.00 million, translating into a gross margin of 84.7% (2024: 90.0%) as raw-material costs surged 175.90%. • Net profit attributable to shareholders edged down 2.40% to RMB239.73 million, weighed by a 50.18% jump in selling expenses to RMB106.83 million.

Segment Performance • CHD occluders remained the core business, delivering RMB253.29 million, up 3.0% and accounting for 48.0% of total revenue. • Cardioembolic-stroke prevention devices (PFO and LAA occluders) generated RMB137.01 million, down 4.8% and representing 26.0% of revenue; higher volumes were offset by a lower average selling price. • Pathway products contributed RMB82.95 million, up 2.1% and representing 15.6% of revenue. • Heart-valve products, commercialised in early 2025, booked inaugural sales of RMB54.20 million, or 10.3% of revenue.

Cost Structure and Expenses • Operating cost rose 70.06% to RMB80.99 million, driven mainly by higher materials and consumables linked to product mix expansion. • R&D expenses were broadly stable at RMB58.15 million, representing 11.0% of revenue. • Administrative expenses declined 21.19% to RMB28.08 million, reflecting lower consulting and staff costs. • Financial income narrowed to RMB14.57 million (2024: RMB23.95 million) due to lower deposit rates and higher FX losses.

Cash Flow and Balance Sheet • Cash and cash equivalents stood at RMB1.16 billion (31 Dec 2024: RMB1.13 billion). • The company remained debt-free, with a gearing ratio of 3.0% and a current ratio of 23.5x. • Capital expenditure totalled RMB72.30 million, primarily for equipment purchases and R&D capitalisation.

Dividend The Board proposes a final dividend of RMB0.50 per share (tax inclusive), down from RMB0.62 per share a year earlier, amounting to an aggregate payout of approximately RMB173.38 million, subject to shareholder approval at the AGM on 22 May 2026. Payment is scheduled on or before 31 July 2026.

Operational Highlights • The product portfolio comprises 32 commercialised devices and 30 candidates in various development stages. • ScienCrown® self-expanding short-frame TAVR system was launched commercially in early 2025 and has been adopted in over 70 clinical centres nationwide. • The biodegradable MemoSorb® ASD occluder received NMPA approval in August 2024 and is ramping up sales. • Upcoming catalysts include anticipated NMPA approval of MemoCarna® oxide-coated PFO occluder by Q4 2026 and initiation of clinical trials for the biodegradable ultrasound contrast injection device in Q2 2026.

Outlook Management expects a “relatively high” revenue growth rate in 2026, citing accelerated adoption of biodegradable occluders—excluded from the recent provincial volume-based procurement—and ongoing expansion of heart-valve and mechanical circulatory-support pipelines.

Key Dates • Ex-dividend date: 29 May 2026 (books close 29 May–2 June). • AGM: 22 May 2026.