ZYLOXTB (HKEX: 02190) unveiled its interim results for the first half of 2026 on August 20, showcasing robust financial performance. The company recorded operating revenue of RMB 632 million for the six-month period, marking a 31.1% year-on-year increase, while net profit climbed 47.8% to RMB 179 million. Its gross and net margins stood at 73.4% and 28.3% respectively during the same period, with both key profitability indicators improving concurrently, underscoring the company's enhanced earning capacity.

The reporting period witnessed strong overall business expansion for the company. The domestic segment maintained steady growth with a progressive increase in market share, while the international business integration has begun yielding tangible results, propelling growth into a faster lane. From January to June, overseas revenue reached approximately RMB 70.64 million, surging 349.3% year-on-year and accounting for 11.2% of total revenue. In April, the company completed the acquisition of a 60% stake in German medical technology firm optimed, further solidifying its research, manufacturing, and commercialization footprint in Europe. Benefiting from the swift integration of market access and commercialization resources between the two entities, the company's products have now achieved commercialization across 70 countries and regions globally, with direct sales network coverage established in key markets including Germany, France, and Austria.

International Business Accelerates with Rapid Global Network Expansion

During the first half of 2026, ZYLOXTB's international operations maintained rapid growth, with overseas revenue climbing 349.3% year-on-year to represent 11.2% of total revenue. As regional synergies deepen, global distribution networks consolidate, and dual-brand expansion progresses, the company's international business has entered a phase of comprehensive acceleration. Currently, the company's products are commercially available in 70 countries and regions worldwide, with channel coverage extending to over 135 countries and territories. The Europe, Middle East, and Africa (EMEA) region contributed 76% of overseas revenue, establishing itself as a cornerstone of the company's internationalization efforts.

Throughout the first half, ZYLOXTB and optimed continued to advance their business integration. The combined sales and marketing teams have been unified into a single global team, with enhanced collaboration across supply chain sharing, production automation, and logistics optimization, enabling German precision engineering to complement China's operational management and supply chain expertise. In the European market, the company has accelerated the consolidation of channel resources, established a local commercialization framework, and achieved breakthroughs in direct sales operations. Currently, the company covers over 80% of Group Purchasing Organizations (GPOs) in Germany and France, while realizing channel resource integration and dual-brand expansion across multiple European markets. In July 2026, the first direct sales orders in Germany and France were fulfilled, extending European operations toward deeper localization.

In Latin America and Asia-Pacific markets, the company continues to refine its channel development, with clinical applications of its products making positive headway. Key products including the Zynlastic™ iliac vein stent and the ZYLOX Unicorn™ vascular closure device system have achieved their first clinical procedures in markets such as Brazil and South Korea. Additionally, optimed's existing urology business maintained stable revenue performance, with its core ureteral stent product retaining a leading position in the German market. During the reporting period, urology, gastroenterology, and other businesses collectively accounted for 27% of the company's overseas revenue, injecting diversified momentum into international growth.

Core Products Sustain Growth Momentum, Innovation Pipeline Advances Steadily

In the first half, as volume-based procurement initiatives approach their conclusion, industry competition has increasingly pivoted toward product innovation and clinical value. ZYLOXTB continues to refine its product portfolio around clinical needs. During the reporting period, the company secured NMPA approval for 11 new products. Supported by a comprehensive product mix and favorable bidding and contract renewal outcomes, the domestic business maintained steady growth.

In the neurovascular intervention segment, core products including the Tongqiao Qilin™ flow diversion stent and the Tongqiao Yinshe® intracranial support catheter series sustained stable sales with rising market penetration. The Tongqiao Feilong™ intracranial aneurysm embolization assist stent, approved in 2025, gradually scaled up its sales volume during the reporting period. Furthermore, the company is advancing the development of pipeline products such as an intracranial OCT system, liquid embolic agents, and self-expanding intrasaccular aneurysm occlusion devices, enriching its neurovascular intervention portfolio.

In the peripheral vascular intervention segment, the company has refined its product combination for hemodialysis access maintenance, comprising the ZYLOX KINGKONG™ ultra-high pressure balloon, the ZYLOX Transformer™ peripheral scoring catheter, and the ZENFLOW® Pufferfish spinous process balloon. Addressing the therapeutic needs of complex calcified lesions in lower extremity arteries, the company is advancing products such as the ZYLOX TORPEDON™ peripheral intravascular lithotripsy system, further completing its peripheral vascular intervention product matrix.

To date, ZYLOXTB has accumulated 10 products with Innovative Medical Device designations. Since 2025, newly recognized products including the carotid double-layer flow diversion stent, the self-expanding intrasaccular aneurysm occlusion device, the ZYLOX Orca™ peripheral balloon-expandable covered stent system, and the ZYLOX Spino™ peripheral focal stent system have been added, further strengthening the company's differentiated competitive advantages.

Looking ahead, ZYLOXTB will continue to uphold its mission of "Innovating for Life," adhering to its two core strategies of innovation and internationalization. The company aims to strengthen global synergies across research and development, manufacturing, and commercialization systems, delivering more high-quality and affordable products and solutions to physicians and patients worldwide, while driving long-term sustainable growth.