Xinwei Medical (06609) 2026 interim results: revenue of 290 million yuan, up 56.9% year on year, adjusted net profit of 70.367 million yuan, up 105.9% year on year

Zhitong Finance App learned that on August 31, Xinwei Healthcare (06609) announced the 2026 interim results announcement. In the first half of 2026, the company achieved revenue of 290 million yuan, an increase of 56.9% year on year; net profit of 63.65 million yuan, up 18.5% year on year; adjusted net profit of about 73.67 million yuan, an increase of 105.9% year on year. The company's performance achieved rapid growth, mainly due to the product being widely recognized clinically and increasing demand for terminals, thereby promoting continuous revenue and profit growth.

Core business continues to expand, and overseas markets expand at an accelerated pace

In the first half of 2026, the company's ischemic stroke business revenue continued to grow steadily. The key product intracranial thrombus suction catheter was added to about 200 new hospitals, and the number of products implanted increased more than 3 times over the same period last year. The company continues to upgrade and optimize intracranial thrombus suction catheters and embolization procedures. Currently, it has formed cascaded suction technology (CATCH), exchange-free cascade suction technology (CATCH EZ), and cascade placement technology (CATCH Mini), which can be adapted to differentiated clinical application scenarios. At the same time, sales of other ischemic stroke products such as embolization stents, balloons, and catheters also continued to grow.

The hemorrhagic stroke business has become a business with rapid revenue growth. As an aneurysm embolization aid stent independently developed by the company, more than 270 new hospitals were implanted in the first half of 2026, with sales increasing by more than 80%; sales of embolic spring ring systems increased by more than 100% year on year; and the total number of patients admitted to blood flow-guided dense mesh stents was about 200.

The vascular closure business continues to grow rapidly. During the reporting period, more than 200 new hospitals were implanted with blockade hemostasis systems, and more than 130,000 pieces were implanted in the first half of 2026, with sales increasing by about 80% year on year; a total of about 150 COLLSEAL hemostasis devices were admitted, achieving multi-departmental coverage.

In overseas markets, the company has obtained a total of 72 product registration certificates in 16 countries and regions, and the registration process for about 150 products in more than 30 countries and regions is in progress. In the first half of 2026, the amount of the company's overseas sales orders exceeded the revenue for the full year of 2025. The company continues to participate in international academic conferences such as WLNC, LINNC, and WFITN, and strengthens cooperation with overseas KOLs and channels to continue to expand overseas markets.

Profitability continues to improve, and the innovation pipeline is progressing steadily

In the first half of 2026, the company's gross margin increased from 68.2% in the first half of 2025 to 71.5%, mainly due to increased revenue from high-margin innovative products and cost optimization effects brought about by increasingly mature product production processes and large-scale commercial application. While expanding its business scale, the company continued to strengthen cost control, and the sales and management expenses ratio fell to 32.9% from 37.0% in the same period last year.

During the reporting period, the company's key R&D pipelines continued to advance. In the field of ischemic stroke, self-expanding intracranial drug-eluting stents have entered the NMPA registration review stage. The clinical enrollment of carotid artery stents is expected to be completed within the year, and the company's product layout around carotid artery stenosis will be further improved; in the field of hemorrhagic stroke, many innovative products will continue to be developed around aneurysm treatment to further enrich the product matrix; in the field of interventional brain-computer interfaces, products will continue to be upgraded and iterated, and the first human clinical trial is expected to be carried out in late 2026.

The product matrix continues to be improved to promote the listing of A-share science and technology innovation boards

Currently, the company has 37 products approved by NMPA, 3 products approved by the FDA, and 2 products obtained CE certification. The product pipeline covers acute ischemic stroke and neurovascular stenosis treatment, hemorrhagic stroke treatment, ischemic stroke prevention, neurointerventional pathways, peripheral interventional devices and innovative businesses.

On the capital market side, the company plans to submit an initial public offering of A shares to the Shanghai Stock Exchange in the second half of 2026 and listing on the Science and Technology Innovation Board. It is estimated to raise about 500 million yuan in capital, with an estimated issuance ratio of about 15%, and will continue to promote stock repurchases and cash dividends according to the company's business conditions and regulatory requirements.

Xinwei Healthcare

Shanghai Xinwei Medical Technology Co., Ltd. was established in 2016. The company focuses on the unmet needs of clinicians and patients in China, and is committed to improving the accessibility of innovative medical technology and products, reducing mortality from major diseases, improving patients' prognosis, and protecting lives and health. The company is headquartered in the Lingang New Area of Shanghai. It has R&D and production centers in Nanjing's Jiangbei New Area, California, USA, and branches in Beijing, Hong Kong, etc.

At present, Xinwei Medical has pioneered a one-stop solution for stroke treatment and prevention in the field of neurological intervention. The product pipeline covers interventional neurological treatment devices such as embolections, aneurysms and stenosis, interventional access devices, and stroke prevention devices. The company has 37 domestic medical device product registration certificates and nearly 300 authorized patents. Some products have obtained the “Priority Evaluation for Innovative Devices” qualification. The sales channels cover all provincial administrative regions in China other than Macau, and the products are used in more than 3,000 terminal hospitals.