GLONGHUI, September 14 | According to a research report published by Citi, the mid-term revenue of minimally invasive robots increased by 44% year-on-year to 48 million yuan, about 13% lower than the bank's forecast. The net loss recorded during the period was about 539 million yuan, gross margin fell from 65.9% in the first half of 2022 to 46.4%, R&D expenses also dropped by about 7%, and sales expenses nearly doubled to 127 million yuan. According to the report, due to the late issuance of licensing quotas for large-scale equipment configurations, the company's flagship product, the Tumaitumai surgical robot, is also progressing slower than expected. It won three contracts in the first half of this year. Citigroup lowered the target price for minimally invasive robots from HK$50 to HK$45, maintaining the “buy” rating, and expects the company to achieve break-even by 2025.