HONG KONG , Aug. 26, 2024 /PRNewswire/ -- Peijia Medical (HKG:9996), a leading Chinese domestic player in the high-growth transcatheter valve therapeutics and neurovascular interventions markets, announced financial results for the six months ended June 30, 2024 ("the period") on August 23, 2024 . Financial Highlights During the period, the Company recorded an operating revenue of RMB 301.
2 million , representing an increase of 33.9% period-over-period. The increase in revenue was mainly attributable to: (i) continued commercialization and expanded market share gains among transcatheter aortic valve replacement ("TAVR") products throughout China ; (ii) the surged sales volume of coil products as a direct result of winning bids in volume-based procurements across multiple provinces; (iii) The rapid market penetration of our ischemic products, characterized by their differentiated design features such as the Syphonet Stent Retriever and Fastunnel Delivery Balloon Catheter; and (iv) the successful launch of DCwire Micro Guidewire which quickly gained market recognition for its outstanding performance.
During the period, the Company recorded a gross profit of RMB 218.9 million , representing an increase of 26.5% period-over-period.
Gross profit margin remained robust at 72.7%. Expense ratios decreased notably company-wide as a result of larger economic scale and improved operational efficiency with selling and distribution, administrative, and R&D expense ratios decreasing by 26.
.