MicroTech Medical (Hangzhou) Co., Ltd. Class H (HK:2235) has released an update.
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MicroTech Medical (Hangzhou) Co., Ltd. reported a robust 36.1% increase in operating revenue for the first half of 2024, reaching RMB 150.8 million, with significant contributions from the successful launch of their new CGMS product, AiDEX X. Despite these gains, the company experienced a net loss of RMB 37.7 million, a 102.2% increase from the previous year, mainly due to higher selling expenses associated with the new product launch. However, the company successfully reduced administrative expenses by 12.7% and maintains a strong cash reserve of RMB 1.81 billion.
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