MicroPort-related stocks rose collectively. As of press time, MICROPORT (00853) gained 8.47% to HK$14.21; CARDIOFLOW-B (02160) rose 4.55% to HK$1.38; MEDBOT-B (02252) increased 4.28% to HK$28.26; MICROPORT NEURO (02172) climbed 2.88% to HK$12.52.

On the news front, MICROPORT announced the restructuring of its cardiac rhythm management business. Subsidiary CardioFlow plans to merge with CRM Cayman. Upon completion of the merger, CRM Cayman will become a wholly-owned subsidiary of CardioFlow, primarily engaged in cardiac rhythm management business and focused on arrhythmia management solutions, with a pre-transaction equity value of $680 million.

Currently, MICROPORT holds 46.12% of CardioFlow and maintains a 50.13% stake in CRM Cayman. It is worth noting that MICROPORT disclosed in July this year its intention to inject the cardiac rhythm management business into its Hong Kong-listed subsidiary CardioFlow.

Analysts point out that this move aims to resolve the pressure from the "qualified listing" performance commitment for the cardiac rhythm business. It is reported that in July 2021, Hillhouse Capital, together with CPE and Primavera Capital, invested $300 million in MicroPort's cardiac rhythm management subsidiary, acquiring a 26.3% stake. They also agreed that if CRM fails to complete a qualified listing with a market value of at least $1.5 billion by July 17, 2025, MicroPort must repurchase all shares at an 8% annualized return.