Core Viewpoint - Southbound funds have reduced their holdings in MicroPort Scientific Corporation (00853.HK) by 1.72 million shares on February 11, with a total net reduction of 2.70 million shares over the past five trading days [1] Group 1: Shareholding Changes - In the last 20 trading days, southbound funds have increased their holdings on 14 days, resulting in a total net increase of 22.13 million shares [1] - Currently, southbound funds hold 924 million shares of MicroPort, accounting for 48.16% of the company's total issued ordinary shares [1] Group 2: Company Overview - MicroPort Scientific Corporation is primarily engaged in the sales, production, research, and development of medical devices [1] - The company operates through eight divisions, including cardiovascular intervention, orthopedic medical devices, cardiac rhythm management, vascular intervention, neurointervention, structural heart disease, surgical robotics, and surgical medical devices [1]

Group 1 - The core point of the article is that southbound funds have increased their holdings in MicroPort Medical (00853.HK) by 60,000 shares on February 9, 2026, while experiencing a net reduction of 2.5329 million shares over the last five trading days [1] - Over the past 20 trading days, southbound funds have increased their holdings in MicroPort Medical on 13 occasions, with a total net increase of 16.2003 million shares [1] - As of now, southbound funds hold 925 million shares of MicroPort Medical, accounting for 48.23% of the company's total issued ordinary shares [1] Group 2 - The total number of shares held by southbound funds on February 9, 2026, is 925 million, with a change of 60,000 shares, reflecting a change of 0.01% [2] - On February 6, 2026, there was a reduction of 1.5155 million shares, representing a decrease of 0.16% [2] - The company operates in the medical device sector, focusing on sales, production, research, and development through eight divisions, including cardiovascular intervention, orthopedic medical devices, cardiac rhythm management, and surgical robotics [2]

Core Viewpoint - Southbound funds reduced their holdings in MicroPort Scientific Corporation (00853.HK) by 1.5155 million shares on February 6, indicating a trend of net selling in recent trading days [1] Group 1: Southbound Fund Activity - In the last 5 trading days, there were 2 days of net selling by southbound funds, totaling a reduction of 506,800 shares [1] - Over the past 20 trading days, southbound funds increased their holdings on 13 days, with a cumulative net increase of 19.5496 million shares [1] - Currently, southbound funds hold 925 million shares of MicroPort, accounting for 48.23% of the company's total issued ordinary shares [1] Group 2: Company Overview - MicroPort Scientific Corporation is primarily engaged in the sales, production, research, and development of medical devices [1] - The company operates through eight divisions, including cardiovascular intervention, orthopedic medical devices, cardiac rhythm management, vascular intervention, neurointervention, structural heart disease, surgical robotics, and surgical medical devices [1]

Core Viewpoint - Southbound funds reduced their holdings in MicroPort Scientific Corporation (00853.HK) by 3.83 million shares on February 4, indicating a fluctuation in investor sentiment towards the company [1] Group 1: Southbound Fund Activity - Over the past five trading days, southbound funds increased their holdings on three occasions, with a total net increase of 117,100 shares [1] - In the last twenty trading days, there were fourteen days of net increases, totaling 25.75 million shares [1] - Currently, southbound funds hold 926 million shares of MicroPort, representing a significant portion of the company's issued ordinary shares [1] Group 2: Company Overview - MicroPort Scientific Corporation is primarily engaged in the sales, production, research, and development of medical devices [1] - The company operates through eight divisions, including cardiovascular intervention, orthopedic medical devices, cardiac rhythm management, vascular intervention, neurointervention, structural heart disease, surgical robotics, and surgical medical devices [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00853 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,912,947,655 | | 0 | | 1,912,947,655 | | 增加 / 減少 (-) | | | 4,310,000 | | | | | | 本月底結存 | | | 1,917,257,655 | | 0 | | 1,917,257,655 | 公司名稱: 微創醫療科學有限公司 呈交日期: 2026年2月4日 I. 法定/註冊股本變動 | 1. 股份分類 ...

Group 1 - The latest copper price as of February 2 is 100,853.33 yuan per ton, reflecting a 10.57% increase over the last 60 days [2][5] - Relevant producers in the copper industry include companies such as Zhongjin Lingnan, Xinye Silver Tin, Tongling Nonferrous Metals, and Jiangxi Copper among others [2][5] Group 2 - Cyclical stocks refer to publicly listed companies in raw material production, whose profits are significantly affected by fluctuations in raw material prices [3][6] - Utilizing price fluctuation data from raw materials to identify buying signals for cyclical stocks is an important investment strategy [3][6]

Core Viewpoint - Southbound funds have significantly increased their holdings in MicroPort Scientific Corporation (00853.HK), indicating strong investor interest and confidence in the company's future prospects [1] Group 1: Southbound Fund Activity - On February 2, southbound funds increased their holdings by 2.0861 million shares of MicroPort Scientific [1] - Over the past five trading days, there have been four days of net increases, totaling 11.0009 million shares [1] - In the last 20 trading days, there were 15 days of net increases, amounting to 32.4178 million shares [1] - Currently, southbound funds hold 928 million shares of MicroPort Scientific, representing a significant portion of the company's issued ordinary shares [1] Group 2: Company Overview - MicroPort Scientific Corporation is primarily engaged in the sales, production, research, and development of medical devices [1] - The company operates through eight divisions, including cardiovascular intervention, orthopedic medical devices, cardiac rhythm management, vascular intervention, neurointervention, structural heart disease, surgical robotics, and surgical medical devices [1] - Key products include implantable devices, surgical robots, and various instruments for cardiovascular and orthopedic applications [1]

Core Viewpoint - MicroPort Medical (00853) expects to turn a profit in 2025, projecting a net profit of at least $20 million, driven by continuous revenue growth, particularly from its overseas business, which has seen a year-on-year increase of approximately 70% [1] Group 1: Financial Performance - The company anticipates a turnaround primarily due to sustained revenue growth, despite facing downward pressure on product prices from domestic industry policies [1] - Gross margin is expected to improve by 2-3 percentage points year-on-year, aided by cost optimization measures [1] - Operating expenses have decreased by approximately 10-11% year-on-year during the reporting period [1] - The disposal of subsidiaries has also contributed positively to MicroPort Medical's financial performance [1] Group 2: Stock Market Reaction - Following the positive earnings announcement, MicroPort Medical's stock price opened high on January 23, reaching a peak increase of 12.84% before declining to a less than 4% gain by the morning close [3] - The trading volume on that day reached 77.07 million shares, setting a new record since October of the previous year [3] - The stock has experienced a significant decline from its peak of HKD 16.28 on October 8 to a low of HKD 9.80, marking a maximum fluctuation of 39.80% over the two-month period [5] Group 3: Market Sentiment and Technical Analysis - The stock's price action since October 8 has shown a technical regression, with a notable drop following a brief rally [6] - The stock reached a technical bottom on November 19, with a price-to-sales (PS) ratio of 2.51, indicating an oversold condition [8] - Following this, a rebound occurred, with the stock price moving between the upper and middle Bollinger Bands until the end of December [8] Group 4: Investor Behavior - Recent trading activity indicates a shift in investor sentiment, with Hong Kong Stock Connect funds becoming net buyers, contrasting previous trends of selling during price increases [9] - Over the last 60 days, the largest net buyer has been the Shanghai-Hong Kong Stock Connect, acquiring 50.36 million shares [9] - The average holding cost for these funds is HKD 11.23, reflecting a profit margin of 15.46% [9] Group 5: Future Outlook - MicroPort Medical's projected financial improvements align with market expectations, with several brokerage firms raising their profit forecasts following the earnings announcement [11] - The company aims to achieve a net loss of no more than $110 million in the first half of 2025 and a full-year net loss of no more than $55 million, with a target net profit of at least $45 million in the first half of 2026 [12] - The positive earnings outlook has attracted more investor attention, indicating a potential shift from a wait-and-see approach to active investment [12]

Core Viewpoint - MicroPort Medical (00853) expects to turn a profit in 2025, projecting a net profit of at least $20 million, driven by continuous revenue growth, particularly from overseas business, which has seen approximately 70% year-on-year growth [1] Financial Performance - The company anticipates a turnaround primarily due to sustained revenue growth, with overseas business contributing significantly [1] - Despite facing downward pressure on product prices from domestic industry policies, the company has improved its gross margin by 2-3 percentage points year-on-year through cost optimization measures [1] - Operating expenses have decreased by approximately 10-11% year-on-year during the reporting period [1] - The disposal of subsidiary companies has also contributed positively to MicroPort Medical's financial performance [1] Stock Market Reaction - Following the earnings announcement, MicroPort Medical's stock price opened high on January 23, reaching a peak increase of 12.84% before closing with a gain of less than 4% [3] - The trading volume on that day reached 77.07 million shares, setting a new record since October of the previous year, indicating significant investor activity [3] Historical Stock Performance - Since peaking at 16.28 HKD on October 8, the stock has experienced a two-month downtrend, with a maximum fluctuation of 39.80%, dropping to a low of 9.80 HKD [5] - The stock underwent a technical correction, moving from the upper to the lower Bollinger Band over a month, indicating a bearish market sentiment [5][6] Investor Sentiment and Trading Patterns - The stock's decline was characterized by low trading volumes, suggesting a lack of market support and internal disagreements among shareholders [5] - On November 24, the stock began a rebound after reaching a technical bottom, with subsequent trading showing a recovery trend [6][8] Institutional Investment Trends - Recent trading data indicates that Hong Kong Stock Connect funds have increased their holdings in MicroPort Medical, reversing previous trading strategies [9][11] - The average holding cost for these funds is 11.23 HKD, with an overall profit margin of 15.46% [9] Future Outlook - Analysts have raised profit forecasts for MicroPort Medical, reflecting improved operational efficiency and a focus on core business areas [12] - The company aims to achieve specific financial targets for 2025 and 2026, including a net profit of at least $45 million in the first half of 2026 [12]

Core Insights - The coronary access devices are essential consumables for percutaneous coronary intervention (PCI) surgeries, directly impacting surgical outcomes and complication control [1][6] - The industry is supported by a series of policies in China, including centralized procurement, innovation approvals, and grassroots medical construction, laying a solid foundation for high-quality development [6][10] - The number of coronary artery disease patients is steadily increasing globally and in China, with projections indicating 220 million patients worldwide and 27.879 million in China by 2024, highlighting significant growth potential for the industry [10] Industry Overview - Coronary access devices are specialized medical equipment and consumables used in PCI surgeries to establish and maintain access from the body surface to the coronary arteries, ensuring the smooth execution of angiography, balloon dilation, and stent implantation [1][6] - The devices are categorized into four main types: puncture devices, catheter systems, sheath sets, and auxiliary devices for pressure monitoring and vascular closure [3][4] Development Background - The development of coronary access devices is crucial for reducing cardiovascular disease mortality, enhancing medical accessibility, and promoting high-end device localization [6][8] - Recent policies in China aim to improve centralized procurement mechanisms, accelerate innovation device approvals, and standardize medical insurance payments, providing guidance for industry development [6][10] Market Analysis - The global coronary balloon dilatation catheter market is expanding, with functional balloons growing at a faster rate; the market size is expected to increase from $560 million in 2020 to $960 million in 2024, with a compound annual growth rate (CAGR) of 8.49% [12][14] - In China, the market is characterized by structural adjustments and rapid growth, with the general balloon market experiencing a temporary decline due to centralized procurement but expected to rebound, while functional balloons are projected to grow significantly, with a CAGR of 19.28% from 2024 to 2028 [14][16] Competitive Landscape - The competitive landscape of the coronary access device industry is tiered, with foreign companies dominating the high-end market while domestic leaders are accelerating their market penetration; by 2024, domestic companies are expected to capture 54.9% of the coronary balloon market [14][15] Future Trends - The industry is expected to evolve along three main directions: technological upgrades, deepening domestic substitution, and expansion of grassroots markets [16] - Innovations such as biodegradable materials and smart functions will drive high-end product iterations, while local companies will enhance core component localization through material and manufacturing process advancements [17][18] - The promotion of tiered diagnosis and treatment will reshape market demand, with a growing need for cost-effective and standardized products suitable for grassroots settings [18]