OrbusNeich Reports 18.1% Revenue Growth and Advances Coronary Paclitaxel DCB Trial in Japan
核心洞察
OrbusNeich reported 18.1% year-on-year revenue growth to US$98.7 million for the six months ended June 30, 2026, with growth across all geographical markets.
Gross profit rose 21.0% to approximately US$67.7 million, lifting gross profit margin to 68.5%, while profit attributable to owners grew 9.0% to US$21.6 million.
The Group commenced patient enrolment in July 2026 for its proprietary coronary paclitaxel drug-coated balloon (DCB) clinical trial in Japan, with first launch anticipated in 2030.
OrbusNeich Medical Group Holdings Limited (搜索) (stock code: 6929), a multinational medical device company specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA), announced its interim results for the six months ended June 30, 2026, reporting growth across all geographical segments despite a complex and volatile global macroeconomic environment.
Revenue increased by 18.1% year-on-year to US$98.7 million, supported by sustained product popularity across all regions. Gross profit reached approximately US$67.7 million, an increase of 21.0% from the corresponding period last year, while the gross profit margin rose by 1.6 percentage points to 68.5%. Profit for the period attributable to owners of the Company amounted to US$21.6 million, representing an increase of 9.0% year-on-year. Core operating profit, defined as profit for the period attributable to owners of the Company excluding share-based compensation expenses, net tax credit from deferred tax assets related to tax losses and finance income – net, amounted to US$18.1 million, up 20.1% year-on-year. Basic earnings per share rose to US2.62 cents, compared with US2.40 cents in the first half of 2025.
The Group maintained a robust financial position, with cash and bank balances (including long-term bank deposits) of approximately US$224.3 million as at June 30, 2026. The Board resolved to declare an interim dividend of HK8 cents per share, marking the Group's first interim dividend distribution in its history.
Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich, said, "Despite a complex and volatile global macroeconomic environment, OrbusNeich achieved growth in all major geographical markets, demonstrating the effectiveness of our business strategies, the strength of our global commercial platform and the industry's trust in our brand. Product innovation remains the cornerstone of our development."
Growth Across All Geographical Markets
All geographical markets recorded growth during the period. The strong performance of the Group's proprietary and third-party products, coupled with the direct channel benefiting from the integration of the Taiwan distributor, drove revenue in APAC up 24.5% year-on-year to US$34.0 million. Revenue from the EMEA region grew by 16.7% to US$26.2 million, with limited impacts on the Middle East markets despite the ongoing regional conflict, while European direct sales markets such as Germany, France and Spain delivered robust performance.
The Group's proactive strategy of participating in volume-based procurement (VBP) programs in the Mainland of China yielded results, with revenue from this market growing 4.8% year-on-year to US$10.1 million. As the Japan and US markets benefited from increased sales of new-generation and high-performance products, revenue from these two markets rose by 6.4% and 5.6%, respectively, reaching US$17.1 million and US$7.9 million.
Expanding the Global Sales Network
OrbusNeich's sales network covers more than 70 countries and regions worldwide. In the first half of 2026, the Group officially launched local sales teams in Belgium, the Netherlands and Luxembourg, transitioning these markets to the direct sales model. This expansion brought the total number of direct sales markets to 15, which contributed 60.3% of total revenue for the period.
The Group continues to seek strategic partnerships with medical device manufacturers to capitalize on opportunities arising from the international expansion of Chinese healthcare companies. Since 2024, the Group has partnered with SonoScape (搜索) to introduce its intravascular ultrasound (IVUS) products into select overseas direct sales markets, with product sales continuing to grow during the period.
Advancing the Coronary Paclitaxel DCB Program
OrbusNeich regards R&D as a core strategic pillar. As at June 30, 2026, the Group held over 215 granted patents and published patent applications in major jurisdictions worldwide, with more than 55 approved products, including 37 PMDA-approved products, 42 CE-marked products, 21 FDA-cleared or approved products, and 27 NMPA-approved products.
During the period, the Group achieved milestones in product registrations, including PMDA approvals for Sapphire NC ULTRA and Sapphire ULTRA, NMPA approvals for Scoreflex TRIO and Sapphire NC 24, and FDA approval for Teleport Glide. The Group also submitted applications for FDA approval of JADE Score and Sapphire 3, CE certification for Scoreflex QUAD, and NMPA approval for Teleport Glide, Sapphire NC Ultra, Sapphire ULTRA and JADE PLUS.
To seize opportunities from the "leave nothing behind" trend, patient enrolment for the clinical trial of the Group's proprietary coronary paclitaxel drug-coated balloon (DCB) commenced in July 2026 in Japan. Completion is expected within 16 months, with the product's first launch anticipated in Japan in 2030. The Group also plans to initiate clinical studies in the Mainland of China for NMPA registration and CE mark application in the second half of 2026. Development plans for next-generation standard balloons are also in place to further strengthen its product portfolio.
Optimizing Global Production Capability
As at June 30, 2026, the Group operates production facilities in Shenzhen, the PRC; Hoevalaken, the Netherlands; and Weil am Rhein, Germany, with an aggregate annual production capacity of approximately 2.1 million units of balloons and stents. Construction of the Hangzhou R&D and manufacturing facility is progressing steadily, with the facility expected to receive its final acceptance certificate in September 2026 and scheduled to commence operations by the end of 2027. Additionally, the Group plans to invest approximately US$2 million to establish a production base with a gross floor area of 1,500 square meters in Indonesia to supply balloons locally.
Mr. Chien concluded, "Looking ahead, the Group expects to maintain strong revenue growth in the near term, supported by rising sales of eucatech AG and Scoreflex QUAD products, as well as the accelerated commercialization of third-party products, including IVUS products. In the medium to long term, we will continue to expand our PCI therapeutic portfolio, with our proprietary DCB product progressing on schedule toward regulatory approvals and positioned to become a key growth driver."