PEIJIA-B (09996) surged over 8% in the morning session, with its mid-term performance releasing multiple positive signals.

On August 24, PEIJIA-B (09996) exhibited active performance in the morning session, with its stock price rising over 8%. Recently, the company disclosed its interim results, with several core data points showing strong performance: revenue of 425 million yuan, a year-on-year increase of 20.1%; gross profit of 290 million yuan, up 17.13% year on year. Through a robust strategic blueprint and solid clinical outcomes, Peijia Medical has demonstrated its long-term investment value in a volatile market. By continuously optimizing its product portfolio, implementing lean cost management measures, and enhancing operational efficiency, the company has partially offset the negative impacts of TAVR price adjustments, the high initial manufacturing costs of TaurusTrio during ramp-up, and the bulk purchasing effects in its neurointerventional business, while maintaining a stable gross profit margin of approximately 68.3%. Notably, based on the strong momentum in the first half of the year, Peijia Medical has raised its full-year TAVR implantation guidance to 6,000-6,500 units. In terms of the transcatheter valve treatment business, Peijia Medical continues to consolidate its leading position in the TAVR market in China. As of June 30, 2026, the company's TAVR product portfolio has expanded its hospital coverage to over 850 hospitals in the Greater China region, an increase of approximately 70 hospitals compared to December 31, 2025. During the reporting period, the total number of TAVR implants (including those for aortic valve stenosis (AS) and aortic regurgitation (AR) indications) reached approximately 2,830 units, representing a significant increase of about 36.5% compared to the six-month period ending June 30, 2025. Overall, in a challenging industry environment, Peijia Medical has achieved improvements in both revenue and profit, and has raised its sales expectations in defiance of the market through its differentiated product matrix, demonstrating the solidity of its competitive barriers. As the "neurointervention + valve treatment" dual-engine strategy becomes increasingly solid, the current positive response from the stock market may just be the starting point of a value reassessment, and the potential for flexibility brought about by subsequent pipeline realizations is worth looking forward to.