With the collaboration, Zylox Medical, the Company's peripheral vascular business unit, plans to launch the "Zylox-Hicicare Guidewire Family" products to address the various needs of clinical clients in peripheral vascular interventional procedures, which range from imaging diagnosis to opening and treatment of diseases, including stenosis, moderate to severe calcification, and complete occlusion lesions. Meanwhile, the Company's neurovascular business unit, Tonbridge Medical, has developed independently and worked with Hicicare to launch the Beidou series micro guide wires, which can meet the different clinical treatment needs of ischemic and hemorrhagic stroke with their well-recognized precise guiding capabilities.

The needs for guidewires and other essential vascular access products continue to grow as interventional procedures in China are evolving rapidly. High-performance guidewire products can provide a safer and more efficient surgical experience for interventional procedures and reduce the occurrence of surgical complications. According to industry estimates, the number of neurovascular interventional procedures in China is estimated to increase from 159.6 thousand in 2019 at a CAGR of 24.5% to 1,781.0 thousand in 2030. The number of peripheral artery intervention procedures in China is expected to grow from 112.2 thousand in 2019 to 600.1 thousand in 2030, representing a CAGR of 16.5%. Currently, over 90% of the vascular guidewire products market in China is dominated by multinational brands due to technological barriers and device usage habits. The alliance between Zylox-Tonbridge and Hicicare is expected to benefit more patients with a complete lineup of high-quality and affordable domestic vascular access solutions.

Zylox-Tonbridge chairman and CEO Dr. Jonathon Zhong Zhao said, "The strategic partnership with Hicicare will expand our portfolio and represents the latest step in our journey towards creating a leading medical device platform for vascular interventions in China. We believe that Zylox-Tonbridge and Hicicare will provide the wider vascular access market with proven and efficient solutions by making the best of their resources and advantages. Zylox-Tonbridge plans to collaborate with more partners on its competitive platform to facilitate the commercialization of new and innovative medical devices and ensure more patients have access to quality life brought by advanced medical technologies."

Hicicare general manager Liu Yitong commented, "We decided to partner with Zylox-Tonbridge as we are pursuing a shared vision. I believe that the strong alliance reinforces our commitment to shaping a better future for all and lays a solid foundation for our future growth. We look forward to working closely with Zylox-Tonbridge to capitalize on the opportunities for exciting and sustainable growth."