OrbusNeich Medical Group Holdings Limited reported a 10.0% year-on-year increase in revenue for the year ended December 31, 2025, reaching approximately US$180.454 million, compared to US$164.097 million in the prior year. Cost of sales grew to US$58.023 million, leading to gross profit of US$122.431 million and a gross profit margin of 67.8% (down from 69.8% in 2024). Profit for the year increased by 5.5% to US$42.033 million, while profit attributable to owners of the Company stood at US$41.899 million, reflecting stable profitability amid higher operating costs. Basic earnings per share rose to 5.09 US cents from 4.81 US cents, and the Board declared a final cash dividend of HK12 cents per share along with a special cash dividend of HK15 cents per share.
During 2025, the Company recorded further expansion of its core interventional medical device business, focusing on endovascular and structural heart intervention products. Volume growth was notable in Asia-Pacific and EMEA, aided by both distributor partnerships and the introduction of direct sales models in select markets. Approximately 2.02 million units were sold across all product categories, fueled by established proprietary balloons and stents, alongside incremental contributions from drug-coated balloons and new third-party distribution agreements.
In regional terms, the APAC market showed strong momentum, with increased sales in locations where OrbusNeich shifted from distributor-based arrangements to direct sales structures. The EMEA region posted sustained gains, supported by expanded hospital coverage in the Netherlands and Belgium. Sales in the United States notably rose to US$21.2 million, representing a 37.0% improvement driven by coronary and peripheral product shipments. Meanwhile, in the PRC, the effects of volume-based procurement introduced competitive pricing pressures, prompting careful bidding strategies to maintain margins.
The Group’s balance sheet ended 2025 with total assets of US$452.910 million, including a substantial rise in non-current assets, driven by increased capital expenditure on property, plant, and equipment as well as intangible assets and goodwill. Total equity grew to US$414.199 million, strengthening the Company’s financial position. Net cash generated from operating activities climbed to US$19.53 million, reflecting improved working capital management and operational efficiency. The Company also invested in expanded production capabilities, such as its upcoming R&D and manufacturing infrastructure in Hangzhou.
Risk oversight continued under a corporate governance framework overseen by the Board of Directors, supported by Audit, Remuneration, and Nomination committees. The Group noted potential financial, market, and legal risks, as well as the challenges posed by regulatory dynamics and sanction measures in certain regions. Throughout the year, the Board reviewed practices to ensure compliance with relevant laws and regulations, while the Audit Committee assessed internal control processes and potential goodwill impairments. Independence of the external auditor was maintained in accordance with Hong Kong professional standards, and the auditor’s opinion affirmed the consolidated financial statements’ fair presentation in compliance with Hong Kong Financial Reporting Standards.
Looking at strategic priorities disclosed during the reporting period, OrbusNeich emphasized ongoing investments in product innovation and expanded direct-sales channels. The Group also highlighted its pursuit of new partnerships for complementary medical device offerings in global markets, along with continued enhancements to manufacturing capacity. Management reiterated its core commitment to providing advanced solutions for both coronary and peripheral interventions, thereby addressing broader clinical needs in interventional medicine.