HK Stock Market Move | TH MEDICAL-B(02697) Surges Nearly 25% in Early Trading, Recently Signs Nearly 100 Million Yuan Sales Contract, Commercialization Process Continues to Accelerate

TH MEDICAL-B(02697) surged nearly 25% in early trading. As of press time, it was up 10.73% at HK$289, with a turnover of HK$39.6249 million. On the news front, TH Medical has entered into a sales contract with an independent third party to sell a puncture surgery navigation and positioning system to the buyer, with a total contract value of nearly RMB 100 million. The relevant products will be delivered successively in the near future. The board of directors believes that the signing of this contract and the subsequent deliveries are expected to further expand the company's installed base, drive growth in equipment revenue, and create conditions for the continuous increase in consumables repurchase and service revenue, accelerating the operation of the sustainable "equipment-consumables-services" business model and enabling precision minimally invasive and non-invasive diagnosis and treatment to benefit more patients. It is worth noting that TH Medical's interim results show that revenue in the first half of the year reached RMB 5.671 million, a year-on-year increase of nearly 32 times, of which surgical Siasun Robot&Automation sales revenue accounted for 91.0%, while consumables revenue increased by 135.8% year on year. The "equipment + consumables" business model has been proven viable, and the flywheel in which installed base drives consumables is accelerating. The batch delivery of this order will inject greater momentum for scaling into this model.