Goldman Sachs published a report stating that Qiming Medical-B (2500.HK) lowered its forecast for the number of products to be implanted this year by 300 to 500 to 4,000 to 4,500 due to sporadic outbreaks in mainland China. Using a risk-adjusted cash-flow discount rate, the bank lowered Kai Ming Medical's target price from HK$65.07 to HK$60.17, maintaining the “buy” rating.

Goldman Sachs lowered Qiming Medical's sales forecast for this year to 2023 by 11%, 12%, and 8% to reflect the decline in implant volume.

Goldman Sachs quoted Qiming Healthcare's management as saying at an event held by Qiming that the average sales price of the company's core product portfolio, VenUSA, remained stable. The annual forecast was over 120,000 yuan (same below), which is lower than 124,000 yuan in the first half of this year. It is expected that the heart valve Venusp-Valve will be approved by the European Union by the end of this year as scheduled. There will be an opportunity to launch it domestically in the second half of next year, with hundreds implanted within that year, with more than 1,000 implants the following year.