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02500 VENUS MEDTECH-B
RTNominal unchange5.620 0.000 (0.000%)
Research Report

19/02/2020 17:51

{I-bank focus}CS raises Venus Medtech (02500) to HK$53.2

[ET Net News Agency, 19 February 2020] Credit Suisse raised its target price for Venus
Medtech HangZhou Inc (02500) to HK$53.2 from HK$49.37 and maintained its "outperform"
rating.
The research house cited Venus management indicating that FY2020 TAVR (transcatheter
aortic heart valve replacement) operation number will likely be cut by 500 due to virus
outbreak, which is equivalent to Rmb76mn sales reduction by Credit Suisse's estimation.
According to management, VenusA-Plus approval in China and VenusP-Valve approval in the
EU are likely to be postponed by one quarter to 3Q.
As the virus outbreak is expected to be alleviated in 2Q, Credit Suisse believes the
above negative impact is just for the short term. It lowered its 2020 revenue/net profit
by 33%/29% to factor in the one-time impact of the coronavirus outbreak. (KL)

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