02160.HK announced that the Group expects to record a net loss (unaudited) of approximately RMB 68 million to RMB 73 million for the six months ended June 30, 2021, a decrease of approximately 40 to 44 per cent from approximately RMB 122 million (unaudited) for the six months ended June 30, 2020.
The decrease in the Group's expected net loss is mainly due to (I) a significant increase in revenue due to the significant progress made by the Group in the commercialization of VitaFlowTM; (ii) a significant increase in gross profit resulting from increased revenue and effective control of production costs; and (iii) lower financing costs and other operating costs due to the one-time and non-recurrent expenses of certain items for the six months ended 30 June 2020. As of June 30, 2021, more than 200 hospitals in China have used VitaFlowTM for TAVI (transcatheter aortic valve implantation) surgery, most of them are third-tier first-class hospitals located in first-and second-tier cities.