MicroPort Scientific : MPSC Announces Profit Turnaround in 1H 2016

Shanghai, China - MicroPort Scientific Corporation (HK: 853) ('MPSC' or the 'Company') announced that it is expected to record a net profit of not less than USD4 million for the six months ended 30 June 2016 as compared with a net loss of USD2.59 million recorded for the six months ended 30 June 2015. The expected increase is primarily attributable to a significant revenue growth from cardiovascular and endovascular segments in the China market, particularly the third-generation coronary stent product Firehawk Rapamycin Target Eluting Coronary Stent, and favorable foreign exchange impact.

According to the reports issued by research analysts following the announcement, MPSC profit turnaround in the first half of 2016 is beyond market expectation and the high potential orthopedic business coupled with the sound innovative product pipeline will continue to drive MPSC's healthy growth trajectory. Guolian Securities initiates coverage of MPSC with Recommendation Rating as they fundamentally believe that MPSC's diversified portfolio starts to deliver results and the potentials are yet to be reflected in MPSC's market value. By the date of publishing this news, the closing price of HK:853 is HKD4.12, 3.78% up than yesterday's close.

The Company's 2016 Interim Results information contained in this news is a preliminary assessment made by the board of directors based on the latest management accounts which have not been audited or reviewed by the independent auditors of the Company. MPSC is still in the process of preparing and completing the 2016 Interim Results, which is expected to be published before the end of August 2016.

About MicroPort

MicroPort Scientific Corporation (the 'Group') is a leading medical device company with business focusing on innovating, manufacturing, and marketing high-quality and high-end medical devices globally. With a diverse portfolio of products now being used at an average rate of one for every 18 seconds in thousands of major hospitals around the world, the Group maintains world-wide operations in a broad range of business segments including Cardiovascular, Orthopedic, Electrophysiological, Endovascular, Neurovascular, Surgical, Diabetes Care and Endocrinal Management, and others. MicroPort is dedicated to becoming a patient oriented global enterprise improve and reshape patient lives through application of innovative science and technology.

For more information, please refer to: www.microport.com

Forward-Looking Statements

Some information contained on this website contains forward-looking statements. These forward-looking statements include, without limitation, those regarding our future financial position, our strategy, plans, objectives, goals and targets, future developments in the markets where we participate or are seeking to participate, and any statements preceded by, followed by or that include the words 'believe', 'intend', 'expect', anticipate', 'project', 'estimate', 'predict', 'is confident', 'has confidence' and similar expressions are also intended to identify forward-looking statements. Such statements are based upon the current beliefs and expectations of MicroPort's management and are subject to significant risks and uncertainties. MicroPort Scientific Corporation undertakes no obligation to update any of the statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that could cause actual future results to differ materially from current expectations include, but are not limited to, general industry and economic conditions, PRC governmental policies and regulations relating to the medical device manufacturing industry, competition in the medical device manufacturing industry, our ability to develop new products and stay abreast of market trends and technological advances, our goals and strategies, our ability to execute strategic acquisitions of, investments in or alliances with other companies and businesses, fluctuations in general economic and business conditions in China.

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