科创板第五套标准审核提速，又一企业过会，5家IPO排队，谁将首单上市？

Group 1 - The core viewpoint of the article highlights the reopening of the fifth set of standards for the Sci-Tech Innovation Board, which not only broadens financing channels for innovative pharmaceutical companies but also brings policy benefits to innovative medical device companies [1][3]. - The accelerated review process for the fifth set of standards reflects the regulatory body's supportive stance towards innovative pharmaceutical enterprises and indicates a shift towards a more inclusive and efficient approval mechanism [3][9]. - North Chip Life, having successfully passed the IPO review, is the second medical device company to do so under the fifth set of standards, following He Yuan Bio, which raises market expectations for the development of innovative medical devices in the capital market [3][4]. Group 2 - North Chip Life focuses on the research, production, and sales of innovative medical devices for precise diagnosis and treatment of cardiovascular diseases, with core products including the intravascular ultrasound (IVUS) diagnostic system and the fractional flow reserve (FFR) measurement system [4][5]. - The company plans to raise 9.52 billion yuan, having adjusted its fundraising plan from an initial 12.74 billion yuan, which included the removal of a marketing network construction project [4][5]. - The core products of North Chip Life have already been approved for sale, filling a domestic market gap and reducing reliance on imported products, with sales revenue projected to increase significantly from 2022 to 2024 [5][6]. Group 3 - The sales expenses of North Chip Life have been a focus of regulatory scrutiny, as they exceed the average level of comparable companies, attributed to the company's early-stage commercialization and the low penetration of innovative medical devices in the domestic market [6][7]. - The company’s sales expenses as a percentage of revenue are projected to decrease from 82.08% in 2022 to 34.61% in 2024, indicating improved operational efficiency [6][7]. - Currently, there are five companies, including North Chip Life, queuing for IPOs under the fifth set of standards, with a competitive focus on who will be the second medical device company to list after Microelectrophysiology [7][9].