Jenscare Scientific Co., Ltd. (“Jenscare Scientific”) released its 2025 audited results, marking the first year of commercial sales following product launches in structural heart disease intervention.

Financial Performance • Revenue reached RMB 90.59 million, driven by initial sales of transcatheter aortic valve replacement (TAVR) product Ken-Valve and early contributions from overseas markets. • Gross profit totalled RMB 82.52 million, translating into an 91.1% gross margin. • Statutory loss widened to RMB 272.70 million, mainly reflecting higher research, administrative and selling expenses linked to global clinical and commercial expansion. • Adjusted non-IFRS loss (excluding share-based compensation and foreign-exchange movements) narrowed 11.3% year on year to RMB 162.39 million. • Net operating cash outflow shrank to RMB 75.00 million, a 65.5% improvement from 2024, supported by revenue inflow and tighter cost controls.

Expense Trends • Research and development spending rose 28.8% to RMB 183.61 million, underpinned by intensified clinical trials for LuX-Valve Plus, JensClip and Ken-Valve next-generation products. • Administrative costs climbed to RMB 99.42 million, reflecting a surge in share-based compensation (RMB 50.51 million) and ongoing organisational build-out. • Selling and distribution expenses of RMB 29.02 million emerged as nationwide and overseas commercial activities accelerated.

Geographical Revenue Mix • Chinese mainland contributed RMB 49.00 million (54.1% of total revenue). • Overseas markets, led by New Zealand and other regions, accounted for RMB 41.59 million (45.9%).

Balance Sheet and Liquidity • Cash and cash equivalents stood at RMB 507.41 million (31 Dec 2024: RMB 605.99 million). • Net current assets totalled RMB 514.74 million; current ratio was 5.9. • Total borrowings declined to RMB 43.80 million; gearing ratio rose to 13.7% as total assets decreased to RMB 896.23 million. • Capital expenditure dropped sharply to RMB 5.10 million, reflecting completion of major facility investments in 2024.

Commercial and Clinical Progress • Ken-Valve: Achieved broad hospital coverage in China and received New Zealand Medsafe approval in February 2026, signalling the start of overseas commercial rollout. One-year follow-up data showed a 97.18% device success rate and 5.63% all-cause mortality. • LuX-Valve Plus: Accelerated global registration; FDA granted unconditional IDE for pivotal trial, CE review ongoing, New Zealand approval obtained, and listing secured in the Hong Kong-Macao Medicine & Equipment Connect catalogue. Six-month TRINITY study data reported a 97% device success rate with 94.4% of patients free from moderate-or-greater regurgitation. • JensClip: NMPA and CE submissions completed; one-year data at EuroPCR 2025 showed 95% device success and 96.3% freedom from moderate-or-greater mitral regurgitation. • Pipeline advancement includes LuX-Valve Pro/Ultra, Ken-Valve Pro, JensRelive TMVR and proprietary anti-calcification, dry-tissue and polymer-leaflet technologies.

R&D and IP Strength The company held 281 granted patents and 52 registered trademarks across more than 20 jurisdictions as at the announcement date, underpinning its global development strategy.

Capital Allocation Net proceeds of HK$206.40 million from the 2022 Hong Kong listing are earmarked chiefly for advancing commercialization of LuX-Valve series and Ken-Valve, and for pipeline R&D. As at 31 December 2025, HK$123.70 million remained unutilised, with full deployment targeted by mid-2028.

Dividend No final dividend was proposed for 2025.

Outlook Management reiterated its focus on scaling global commercialization of Ken-Valve, securing regulatory approvals for LuX-Valve Plus and JensClip, and accelerating the development of next-generation valve technologies to support long-term growth.