🇭🇰 港交所MICROTECH MED-BCodex · 实盘不做把握 6/10
北京时间·🕒 发布 07-30 17:03:00时区推断·⟳ 抓取 07-30 17:04:59·⚡ 决策 07-31 02:07:19 +9h02m·88.7 天前
微泰医疗-B公告2026年上半年收入同比至少增长63%并扭亏为盈
公告原文显示上半年收入不低于4亿元、归母净利不低于3600万元,CGMS放量和规模效率改善是主要原因。
📄 原文MICROTECH MED-B↗ 原文
POSITIVE PROFIT ALERT
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the con…
不做 微泰医疗-B(02235.HK)
业绩预喜方向正面但主要兑现既有CGM放量和2026年盈利高增长预期,H1收入较公开估计仅约高7%,叠加成交极薄且隔夜高开滑点风险高,当前不追。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
消息传播链
- HKEX发布微泰医疗-B正面盈利预告,披露H1收入不低于4亿元、归母净利不低于3600万元。市场反应:公告在港股收盘后发布,07-30收盘价6.95港元、当日-2.11%,不属于公告后反应。
- 此前研报已将CGM放量、海外拓展和利润转正作为2026年核心增长逻辑,并预测全年收入约9.12亿元、归母净利约8200万元。
- 财经稿已传播机构对2026年净利润8000万至1亿元的预期,说明盈利弹性并非首次被市场看到。
关键理由
- 公告原文显示上半年收入不低于4亿元、归母净利不低于3600万元,CGMS放量和规模效率改善是主要原因。
- 这条消息是公司级正面增量,但市场此前已按2026年收入约8.8亿至9.1亿元、净利约8200万至9300万元建模,当前预告更像兑现而非显著上修。
- 按最新市值约28.85亿港元、上半年净利不低于3600万元人民币估算,盈利拐点已确认但短线重定价空间受低流动性和预期内属性限制。
主要风险
- 02235.HK近20日成交额均值仅约17.4万港元,隔夜业绩预喜若高开容易出现流动性滑点和高开低走。
- 公司提示半年报数据未经审计,且国内CGM竞争、降价及新品推广不及预期仍会影响全年盈利兑现。
反向证据
- 做多前查反向 · 来源 kb_search · 影响 none
内部KB未命中直接预测片段,未提供可强化或否定本次交易的新增机构观点。
检索:微泰医疗 2026 净利润 8000万 1亿元 预测 机构 - 做多前查反向 · 来源 kb_search · 影响 none
内部KB未命中近期公司级实质利空,但公开研报风险仍指向竞争降价、推广不及预期和海外专利诉讼。
检索:微泰医疗 02235 利空 风险 价格 竞争 集采 CGM 2026 - 做多前查反向 · 来源 stock_quote · 日期 2026-07-30 · 影响 weakens
真实行情显示20日涨跌为0%、13周路径下行且20日平均成交额仅约17.4万港元,执行质量不足以支持隔夜追多。
检索:02235.HK stock_quote detail=full
工具调用 · 历史记录,结果未知(4 种)
- search_processed_events · 结果未知
- stock_quote · 结果未知
- kb_search · 结果未知
- price_snapshot · 结果未知
原文全文
展开原文 · 4,080 字
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
# MicroTech Medical (Hangzhou) Co., Ltd.
# 微 泰 醫 療 器 械( 杭 州 )股 份 有 限 公 司
(A joint stock company incorporated in the People’s Republic of China with limited liability)
(Stock code: 2235)
## POSITIVE PROFIT ALERT
This announcement is made by MicroTech Medical (Hangzhou) Co., Ltd. (the “Company”, together with its subsidiaries, the “Group”) pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
The board (the “Board”) of directors (the “Directors”) of the Company hereby informs the shareholders of the Company (the “Shareholders”) and potential investors that, based on the preliminary review on the unaudited consolidated management accounts of the Group for the six months ended June 30, 2026 (the “Reporting Period”) pursuant to the Accounting Standards for Business Enterprises promulgated by the Ministry of Finance of the PRC and relevant requirements, the estimated results are as follows:
- 1) It is estimated that the income of the Group during the Reporting Period will amount to not less than RMB400 million, representing a year-on-year increase of no less than approximately 63% as compared to RMB246 million for the six months ended June 30, 2025.
- 2) It is estimated that the Group will realize a net profit attributable to owners of the parent company of not less than RMB36 million during the Reporting Period, representing a turnaround from loss to profit as compared to RMB-2 million for the six months ended June 30, 2025.
The aforementioned expected growth is mainly attributable to:
- 1) the income from the sales of continuous glucose monitoring system (CGMS), one of the Group’s pivotal products, demonstrated continuous strong growth, while products including the patch insulin pump system and blood glucose monitoring system maintained sustained and robust development;
- 2) the rising revenue contribution of continuous glucose monitoring system and the improvement of production scale efficiency drove a significant uplift in the overall gross profit margin as compared to the same period last year; and
- 3) Operational efficiency recorded a remarkable improvement, marketing activities were continuously optimised, the proportion of selling expenses and administrative expenses to income realized a significant decrease.
As the unaudited consolidated financial results of the Group for the Reporting Period have not yet been finalized, information contained in this announcement is based on information currently available to the Board and the preliminary unaudited consolidated management accounts of the Group for the Reporting Period, such information has not yet been reviewed by auditor or the audit committee of the Company. The actual financial results of the Group for the Reporting Period are subject to adjustment and may differ from information contained in this announcement. Such results are expected to be published by the end of August 2026.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
By order of the Board MicroTech Medical (Hangzhou) Co., Ltd. Zheng Pan Chairman of the Board
Hangzhou, the PRC, July 30, 2026
As at the date of this announcement, the executive Directors are Dr. Zheng Pan, Dr. Yu Fei, Dr. Shi Yonghui and Ms. Liu Xiu; the non-executive Directors are Mr. Mao Shuo and Ms. Gao Yun; and the independent non-executive Directors are Dr. Li Lihua, Ms. Wang Chunfeng, Mr. Ho Kin Cheong Kelvin and Dr. Cheng Hua.
# MicroTech Medical (Hangzhou) Co., Ltd.
# 微 泰 醫 療 器 械( 杭 州 )股 份 有 限 公 司
(A joint stock company incorporated in the People’s Republic of China with limited liability)
(Stock code: 2235)
## POSITIVE PROFIT ALERT
This announcement is made by MicroTech Medical (Hangzhou) Co., Ltd. (the “Company”, together with its subsidiaries, the “Group”) pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
The board (the “Board”) of directors (the “Directors”) of the Company hereby informs the shareholders of the Company (the “Shareholders”) and potential investors that, based on the preliminary review on the unaudited consolidated management accounts of the Group for the six months ended June 30, 2026 (the “Reporting Period”) pursuant to the Accounting Standards for Business Enterprises promulgated by the Ministry of Finance of the PRC and relevant requirements, the estimated results are as follows:
- 1) It is estimated that the income of the Group during the Reporting Period will amount to not less than RMB400 million, representing a year-on-year increase of no less than approximately 63% as compared to RMB246 million for the six months ended June 30, 2025.
- 2) It is estimated that the Group will realize a net profit attributable to owners of the parent company of not less than RMB36 million during the Reporting Period, representing a turnaround from loss to profit as compared to RMB-2 million for the six months ended June 30, 2025.
The aforementioned expected growth is mainly attributable to:
- 1) the income from the sales of continuous glucose monitoring system (CGMS), one of the Group’s pivotal products, demonstrated continuous strong growth, while products including the patch insulin pump system and blood glucose monitoring system maintained sustained and robust development;
- 2) the rising revenue contribution of continuous glucose monitoring system and the improvement of production scale efficiency drove a significant uplift in the overall gross profit margin as compared to the same period last year; and
- 3) Operational efficiency recorded a remarkable improvement, marketing activities were continuously optimised, the proportion of selling expenses and administrative expenses to income realized a significant decrease.
As the unaudited consolidated financial results of the Group for the Reporting Period have not yet been finalized, information contained in this announcement is based on information currently available to the Board and the preliminary unaudited consolidated management accounts of the Group for the Reporting Period, such information has not yet been reviewed by auditor or the audit committee of the Company. The actual financial results of the Group for the Reporting Period are subject to adjustment and may differ from information contained in this announcement. Such results are expected to be published by the end of August 2026.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
By order of the Board MicroTech Medical (Hangzhou) Co., Ltd. Zheng Pan Chairman of the Board
Hangzhou, the PRC, July 30, 2026
As at the date of this announcement, the executive Directors are Dr. Zheng Pan, Dr. Yu Fei, Dr. Shi Yonghui and Ms. Liu Xiu; the non-executive Directors are Mr. Mao Shuo and Ms. Gao Yun; and the independent non-executive Directors are Dr. Li Lihua, Ms. Wang Chunfeng, Mr. Ho Kin Cheong Kelvin and Dr. Cheng Hua.
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