SUZHOU, China, March 26, 2026 /PRNewswire/ -- Peijia Medical (9996.HK), a leading Chinese domestic company in the high-growth transcatheter valve therapeutics and neurovascular interventions markets, announced its annual results for the year ended December 31, 2025 on March 25, 2026.
During the year, the Group delivered steady revenue growth and continued improvement in operating efficiency, while advancing multiple key pipeline programs. Against a dynamic industry backdrop, the Group's core business demonstrated increasingly resilience. The Neurointerventional Business emerged as a stronger earnings contributor, while the Transcatheter Valve Therapeutic Business continued to expand its platform, enhance commercialization capabilities and improve its profitability profile.
Steady Growth with Improving Profitability Profile
For the year ended December 31, 2025, the Group recorded total revenue of RMB712.9 million, representing a year-on-year increase of 15.8%. Revenue contribution remained balanced, with TAVR-related products accounting for 40.7% and neurointerventional products accounting for 59.3% of total revenue.
While maintaining a relatively stable gross margin, the Group continued to strengthen cost discipline and improve operating efficiency, supported by scale expansion and more focused resource allocation. Excluding the losses attributable to the entities comprising the Future Technology Business [1], the Group's adjusted loss for the year narrowed by 44.1% year on year to RMB110.5 million, reflecting a clear trend of improving underlying profitability.
Neurointerventional Business: Profit Contribution Accelerates and Globalization Begins
The Neurointerventional Business continued to deliver strong earnings growth during the year. Segment profit increased by 86.6% year on year to RMB97.2 million, while segment profit margin improved to 23.0%. The significant profit expansion was driven by continued revenue growth, disciplined cost management and improved operating efficiency, indicating that operating leverage is increasingly being realized as the business scales.
The segment also achieved a key milestone in its globalization strategy. In March 2026, DCwire® received 510(k) clearance from the U.S. Food and Drug Administration, marking the Group's first regulatory approval in the United States. This milestone validates the competitiveness of the Group's products and establishes a foundation for further expansion into global markets.
TAVR Business: Leadership Reinforced with Expansion into New Indications
The Group maintained its leading position in China's TAVR market and continued to expand its commercialization footprint. During the year, revenue from TAVR-related products increased by 11.6% year on year to RMB290.1 million. Total implant volume reached approximately 3,900 units, up 14.4% year on year, while the Group's products were adopted by more than 780 hospitals, including approximately 130 newly added hospitals during the year.
The Group's Taurus product family continued to gain strong clinical recognition in the treatment of aortic stenosis, supported by a comprehensive portfolio spanning core and premium offerings. At the same time, the approval of TaurusTrio® (the Group's localized product licensed from the JenaValve TrilogyTM THV System for Greater China) in December 2025 for the treatment of symptomatic, severe aortic regurgitation marked a major strategic milestone. This approval expands the Group's valve platform from a single-indication focus to a broader multi-indication platform, opening new growth opportunities and strengthening its long-term competitive positioning.
Pipeline Momentum and Multiple Near-Term Catalysts
The Group continued to make steady progress across its pipeline, supporting the next phase of growth. In China, registration applications were submitted for TaurusNXT®, the Group's next-generation durability-enhanced TAVR product, and GeminiOne®, its transcatheter edge-to-edge repair (TEER) system. Patient enrollment for the registration clinical trial of HighLife®, the Group's licensed-in trans-septal mitral valve replacement system continued to accelerate, while ReachTact®, the Group's robotic-assisted TAVR system, entered registration clinical trial phase.
Globally, GeminiOne® has been submitted for EU MDR CE Mark registration, while other pipeline programs continue to advance through clinical development.
As of the end of 2025, seven of the Group's transcatheter valve therapeutic products had been included in the National Medical Products Administration (NMPA) Innovative Medical Device Special Review Procedure, ranking first in the industry and highlighting the Group's strong innovation capabilities.
Management Commentary
Dr. Yi Zhang, Chairman and CEO of Peijia Medical, commented:
"2025 was a year of steady progress and strengthening fundamentals for Peijia. Our Transcatheter Valve Therapeutic Business continued to expand its commercialization platform and growth potential, while our Neurointerventional Business delivered accelerated profit growth and is becoming an increasily important contributor to the Group's earnings.
Looking ahead to 2026, we see both new opportunities and higher expectations. We will remain focused on disciplined execution, continuous innovation and long-term value creation as we advance into the next stage of growth."
Note:
[1] Future Technology Business, established in 2024 and spun off from the Transcatheter Valve Therapeutic Business, focuses on developing globally leading therapies for valvular heart diseases. It currently includes three pipeline products: the Lithotripsy Valvuloplasty System, MonarQ TTVR® System, and ReachTact® TAVR Assistance System. Each project is operated by dedicated teams and advanced through specialized subsidiaries with operational and financing autonomy. |
About the Company
Peijia Medical (9996.HK) was established in 2012 and is headquartered in Suzhou, China. Peijia Medical focuses on the high-growth interventional procedural medical device market in China and aims to become a world-renowned medical device platform that provides comprehensive treatment solutions for structural heart and neurovascular diseases. The Company now has four TAVR systems and near twenty neurointerventional devices commercialized in China and various innovative product candidates at different stage of development. For more information about Peijia visit https://www.peijiamedical.com/.
SOURCE Peijia Medical
