Company Overview - Shenzhen Maiketian Medical Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Morgan Stanley and Huatai International as joint sponsors [1] - Established in 2011, the company focuses on three core business areas: life support, minimally invasive intervention, and in vitro diagnostics [1] - Maiketian's products are available in over 140 countries and regions globally, with a presence in more than 6,000 hospitals in mainland China, including approximately 90% of tertiary hospitals [1] Financial Performance - Revenue has shown consistent growth, with figures of 917 million RMB, 1.313 billion RMB, and 1.399 billion RMB for the years 2022, 2023, and 2024 respectively, and 787 million RMB for the first half of 2025 [1] - Gross profit for the same periods was 400 million RMB, 651 million RMB, 700 million RMB, and 416 million RMB, respectively [1] - Despite reporting net losses from 2022 to 2024, the company achieved profitability in the first half of 2025 with a net profit of 40.968 million RMB [1] - The gross margin has steadily increased from 43.7% in 2022 to 52.9% in the first half of 2025 [1] Product Portfolio - Maiketian has commercialized over 50 life support devices, 80 minimally invasive products, and 210 in vitro diagnostic products [2] - In the first half of 2025, revenue contributions from the three business segments were 300 million RMB (37.9%), 400 million RMB (51.1%), and 86.22 million RMB (11%) respectively [2] - The company holds leading positions in several niche markets, including being the top seller of infusion workstations in China from 2018 to 2024 and the first in sales of enteral nutrition pumps from 2021 to 2024 [2] Market Potential - The medical device market, where Maiketian operates, shows high growth potential, with projected market sizes for life support, minimally invasive intervention, and in vitro diagnostics reaching 75.1 billion USD, 32.1 billion USD, and 108.4 billion USD globally by 2024 [3] - The Chinese market for these segments is expected to reach 55.7 billion RMB, 24.9 billion RMB, and 116.1 billion RMB respectively [3] - By 2030, global market sizes for these segments are forecasted to grow to 109.7 billion USD, 48.8 billion USD, and 167.3 billion USD, with the Chinese market projected to reach 93.2 billion RMB, 53.2 billion RMB, and 191.2 billion RMB [3] Shareholding Structure - The founding team and employee stock ownership platform collectively hold approximately 39.55% of the shares and 79.14% of the voting rights [2] - Hillhouse Capital is the largest institutional investor, holding 20.79% through various entities, while Shenzhen Capital Group and related parties hold 8.54%, and Hanshi Capital holds 3.3% [2]
高瓴资本参投、年营收近14亿元，麦科田拟赴港IPO！
Sou Hu Cai Jing·2025-09-12 09:05