CSC Pharmaceutical analyst team reiterated a positive view on APT Medical (惠泰医疗), stating that Q3 revenue is expected to sustain the high growth seen in H1, driven by rapid PFA (pulsed field ablation) product volume ramp-up. The note also highlighted that the Fujian-led electrophysiology centralized procurement renewal is about to launch, and that the company's equity incentive targets imply a 2026-2029 revenue CAGR of 23% (target) or 20% (trigger).
CSC remains bullish on APT Medical, expecting Q3 growth to continue on PFA ramp-up and viewing the upcoming Fujian EP procurement renewal and equity incentive targets as positive catalysts.
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