麦科田医疗，拟赴港上市

Core Viewpoint - Shenzhen Maiketian Medical Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, offering a range of medical products including life support, minimally invasive intervention, and in vitro diagnostics [1] Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the first half of 2025 was approximately 917 million, 1.313 billion, 1.399 billion, and 787 million respectively, with net profits of approximately -226 million, -64.5 million, -96.6 million, and 40.9 million [1] - Direct sales to hospitals and other end customers in China and the UK were approximately 22 million, 20 million, 47 million, and 28 million for the same periods, accounting for 2.3%, 1.5%, 3.4%, and 3.5% of total revenue [2] Product and Market Reach - As of June 30, 2025, the company's products were sold to over 6,000 hospitals in China, including about 90% of tertiary hospitals [2] - The company had 1,972, 2,538, 2,791, and 1,959 domestic distributors, and 923, 907, 903, and 607 overseas distributors in the years 2022, 2023, 2024, and the first half of 2025 respectively [1] Customer Concentration - Revenue from the top five customers accounted for 12.4%, 10.6%, 13.5%, and 14.8% of total revenue in the years 2022, 2023, 2024, and the first half of 2025 [2] Competitive Landscape - The company faces risks related to market size, average selling prices, and sales volume, which could adversely affect its financial performance [2] - The company's success is heavily dependent on its ability to meet changing customer demands and retain customers [2]