Innovation Medical(SZ:002173) 智通财经网·2025-07-18 10:58Core Viewpoint - Shenzhen Beixin Life Technology Co., Ltd. has successfully passed the IPO review for the Sci-Tech Innovation Board, aiming to raise 9.52 billion yuan for the development of innovative medical devices focused on cardiovascular disease diagnosis and treatment [1] Company Overview - Beixin Life is a national high-tech enterprise specializing in the research, production, and sales of innovative medical devices for precise diagnosis and treatment of cardiovascular diseases [1] - The company has developed China's first domestically innovative 60MHz high-definition IVUS product and the first domestically approved FFR measurement system, both of which are expected to transform clinical practices in percutaneous coronary intervention (PCI) [1][2] - Beixin Life is the first domestic medical device company to offer a combination of FFR and IVUS products, addressing the market gap and reducing reliance on imported products for coronary artery disease diagnosis in China [1] Product Development - The company has launched a total of 11 products and has 6 products under development, covering five major categories: IVUS systems, FFR systems, vascular access products, shockwave balloon therapy systems, and electrophysiological solutions [2] - The core IVUS system is recognized for its high-definition, high-speed, and intelligent features, facilitating efficient and precise PCI strategy formulation [2] Fundraising and Financials - The funds raised will be allocated to various projects, including the construction of an interventional medical device industrialization base and R&D projects, with a total investment of approximately 95.22 million yuan [3] - Financial projections indicate that the company expects to achieve revenues of approximately 92.45 million yuan, 184 million yuan, and 317 million yuan for the years 2022, 2023, and 2024, respectively [3] - The company reported net losses of approximately 300 million yuan, 155 million yuan, and 53.74 million yuan for the same years [3] Financial Metrics - As of December 31, 2024, the total assets are projected to be approximately 782.99 million yuan, with total equity attributable to shareholders of approximately 686.43 million yuan [4] - The company’s debt-to-asset ratio is expected to rise from 11.75% in 2022 to 17.47% in 2024 [4] - Revenue is projected to increase significantly, with net profit losses decreasing from 300.44 million yuan in 2022 to 53.74 million yuan in 2024 [4] - R&D investment as a percentage of revenue is expected to decrease from 154.95% in 2022 to 35.65% in 2024, indicating a shift towards commercialization [4]