Shares of Xintai Medical (02291) surged more than 30% in early trading, up 30.92% to HK$22.1 as of the time of publication, with a turnover of HK$19.5613 million.
According to the Wisdom Financial APP, shares of Xintai Medical (02291) surged more than 30% in early trading, up 30.92% to HK$22.1 as of the time of publication, with a turnover of HK$19.5613 million.
On the news front, Xintai Medical announced that it has signed a framework agreement with Lepu Medical on October 21, 2024, aiming to renew the existing agreement that is about to expire. Under the new agreement, Xintai Medical will purchase Lepu Medical's endovascular implantable aortic valve system from January 1, 2025 to December 31, 2027, and obtain exclusive authorization for sales and distribution.
The announcement mentioned that the historical transaction amounts as of 2022, 2023, and September 30, 2024 were 27.98 million yuan, 17.98 million yuan, and 6.6 million yuan, with utilization rates of 99.93%, 99.89%, and 60.00%, respectively. The recommended annual limits are 40 million yuan, 60 million yuan, and 80 million yuan, and it is expected that transactions over the next three years will increase annually based on market demand.