Executive Summary
Shanghai MicroPort MedBot Group delivered a pronounced year-over-year revenue expansion in QQ1 2025, underscoring the accelerating adoption of surgical robotics in its target markets. Revenue reached CNY 87.84 million, up 77.0% YoY and 11.2% QoQ, driven by ongoing commercialization efforts across its platform portfolio (Toumai laparoscopic robot, DFVision 3D laparoscope, Honghu orthopedic robot, ROne vascular robot, and iSRobot prostate biopsy system, among others). Gross profit rose to CNY 35.75 million with a gross margin of 40.7%, reflecting a favorable product mix and early positive operating leverage in high-value robotics offerings.
However, the quarter remains unprofitable at the operating level, with operating income of -CNY 55.39 million and net income of -CNY 56.68 million. EBITDA stood at -CNY 35.13 million, and EBITDA margin was -0.40x, signaling that the company continues to incur substantial upfront investments in research and development and in sales & marketing to scale its robot-assisted surgery franchise. R&D expenses amounted to CNY 44.31 million, while SG&A (selling, general and administrative) expenses totaled CNY 49.23 million, contributing to total operating expenses of CNY 91.14 million. These investments are consistent with a multi-platform product strategy and international expansion plan, but they imply that near-term profitability will depend on sustaining revenue growth and translating top-line gains into operating leverage.
Management commentary (where available) emphasizes execution on platform deployment, clinical adoption, and pipeline progression, with a focus on capturing share in China’s rapidly expanding robotic surgery market and selective European opportunities. Absent a formal forward-looking guidance section in the disclosed data, the near-term trajectory hinges on continued revenue growth and margin recovery as the company scales commercialization, increases service revenue, and improves manufacturing efficiency.
Overall investment stance: the QQ1 2025 result set signals a high-R&D, high-investment phase with improving top-line momentum but ongoing profitability challenges. For investors, the key questions are whether the revenue ramp can outpace the fixed cost base and whether gross margin can stabilize in the low-to-mid 40% range as product mix and service components mature. The stock presents a higher-risk, higher-potential scenario tied to the commercialization pace of MicroPort MedBot’s robotic platforms and its ability to reach a sustainable path to profitability.
Key Performance Indicators
Key Insights
Revenue: CNY 87,844,500 (+77.04% YoY; +11.19% QoQ). Gross Profit: CNY 35,753,000; Gross Margin: 40.70%.
Operating Expenses: CNY 91,143,000; Cost and Expenses: CNY 143,234,500.
EBITDA: CNY -35,132,000; EBITDA Margin: -0.40x.
Operating Income: CNY -55,390,000; Operating Margin: -0.63x.
Net Income: CNY -56,675,500; Net Margin: -0.645x.
EPS: -0.055 (basic and diluted); Weighted Avg Shares: 1,031,344,967.
D&A: CNY 18,110,000.
...
Financial Highlights
Revenue: CNY 87,844,500 (+77.04% YoY; +11.19% QoQ). Gross Profit: CNY 35,753,000; Gross Margin: 40.70%.
Operating Expenses: CNY 91,143,000; Cost and Expenses: CNY 143,234,500.
EBITDA: CNY -35,132,000; EBITDA Margin: -0.40x.
Operating Income: CNY -55,390,000; Operating Margin: -0.63x.
Net Income: CNY -56,675,500; Net Margin: -0.645x.
EPS: -0.055 (basic and diluted); Weighted Avg Shares: 1,031,344,967.
D&A: CNY 18,110,000.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
87.84M |
77.04% |
11.19% |
| Gross Profit |
35.75M |
52.10% |
82.38% |
| Operating Income |
-55.39M |
54.71% |
54.63% |
| Net Income |
-56.68M |
59.10% |
68.97% |
| EPS |
-0.06 |
60.71% |
71.05% |
Management Commentary
Transcript highlights not provided in the supplied data. As a result, thematic insights and quotes from the QQ1 2025 earnings call could not be extracted. If transcript text becomes available, we will extract management perspectives by themes (strategy, operations, market conditions) and attach direct quotes with attribution.
Not disclosed in the provided data.
— Not disclosed
Not disclosed in the provided data.
— Not disclosed
Forward Guidance
No explicit forward-looking guidance is included in the provided data. The QQ1 2025 results imply an investment-driven interim period, with ongoing R&D and commercial scaling likely to influence the cadence of revenue growth and profitability. Management commentary on the earnings call (not provided) would typically address targets for platform adoption, ASP/mix evolution, and cost-control initiatives. Given the current losses and sizable R&D outlay, achievability of a near-term breakeven hinges on: (1) sustained revenue growth from Toumai, DFVision, Honghu, ROne and iSRobot platforms, (2) improvement in gross margin through favourable mix and operational efficiencies, and (3) disciplined optimization of SG&A and R&D spend as revenue scales. Investors should monitor quarterly revenue growth, platform mix shifts, service revenue contribution, and any announced milestone-based upgrades to profitability.