HK Stock Market Move | MEDBOT-B(02252) fell more than 5% in the afternoon, with mid-term revenue expected to double. The market remains concerned about the debt problems of the minimally invasive business.

MEDBOT-B(02252) opened more than 8% higher in the morning session due to better-than-expected earnings, but the stock quickly fell after the opening and continued to drop by over 5% in the afternoon. As of the time of writing, it was down by 4.91% at 8.53 HKD with a trading volume of 27.3172 million HKD. On the news front, Siasun Robot & Automation, a subsidiary of MICROPORT, announced that the board expects the company's revenue to increase by around 103% to 108% year-on-year by the end of June 2024. This growth is mainly attributed to the strong sales momentum of its core product, the TUMIA robotic surgery system, in the domestic market, as well as the successful commercial installation and revenue breakthrough in overseas markets. The company is also expanding its overseas market for its orthopedic surgery robot and expecting revenue growth from new product launches. It is worth noting that Siasun Robot & Automation recently signed distribution agreements with Morgan Stanley and CICC. Additionally, the company has engaged in financial leasing with its parent company, MICROPORT, to provide low-cost funding support. In April of this year, MICROPORT announced a conditional bailout from Hillhouse Capital. According to the agreement, MICROPORT is required to return to profitability within three years. Nomura's research report previously pointed out that while there may be short-term improvements in the company's situation, long-term debt issues remain challenging.