VENUS MEDTECH-B

Venus Medtech surged 28.2% in heavy volume to close at HKD 1.73, driven by Cardiovalve CE marking submission and completion of the 150-patient TARGET study enrollment. The stock opened at HKD 1.27, rallied to an intraday high of HKD 1.82 before paring gains, resulting in a 42.5% daily range. Despite a 48% YoY revenue decline to HKD 66.5 million, net loss per share improved 44% to HKD -0.35. The stock now trades 63% above its 52-week low of HKD 1.06 and sits above both the 20-day (HKD 1.27) and 60-day (HKD 1.59) moving averages, though still 69% below the 52-week high of HKD 5.47. Year-to-date the stock is down 30%, while the company has divested a Hangzhou industrial property and a minority investment totaling approximately HKD 525 million to refocus on its valve business.