Venture(US:VEMLY) Sou Hu Cai Jing·2025-09-15 12:33Core Viewpoint - Jianfa Zhixin (建发致新) is set to launch its initial public offering (IPO) on the ChiNext board, aiming to enhance its market presence and operational capabilities in the medical device supply chain sector [1][3]. Company Overview - Founded in 2010 and headquartered in Shanghai, Jianfa Zhixin focuses on the medical device supply chain, operating in a rapidly growing industry driven by aging population, policy support, and technological innovation [3]. - The company has established itself as a key player in the medical device sector, providing services to over 3,300 hospitals across 31 provinces and regions in China, with a projected revenue of 17.9 billion in 2024 and a compound annual growth rate (CAGR) exceeding 20% over the past five years [3][5]. Business Model and Services - Jianfa Zhixin primarily engages in direct sales and distribution of medical devices, offering centralized operation services for medical consumables (SPD) [5]. - The company plays a crucial role in the medical device supply chain, linking manufacturers, distributors, and healthcare institutions [5]. Financial Performance - The company has demonstrated strong growth in its main business, with revenue growth rates of 18.57%, 29.89%, and 16.01% for the years 2022, 2023, and 2024, respectively [8]. - Jianfa Zhixin plans to expand its product lines and brand partnerships to enhance service coverage to healthcare institutions, capitalizing on the growing market and increasing concentration in the medical device sector [8]. IPO Objectives - The funds raised from the IPO will be used to improve the precision and intelligence of its information systems for medical device distribution, optimize financial structure, and reduce operational risks [5]. - The IPO is expected to enhance the company's visibility and competitiveness in the market, positioning it as a leading medical device distribution service provider in China [5].