SIASUN(SZ:300024) Sou Hu Cai Jing·2025-12-26 10:37Core Viewpoint - Shenzhen Precision Medical Technology Co., Ltd. is set to become the first domestic surgical robot company listed on the Hong Kong Stock Exchange, having passed the listing hearing on December 21, 2025 [2] Group 1: IPO Details - The company plans to issue up to 31.88 million new shares, with 49 shareholders converting 296 million shares into H-shares for circulation [3] - Joint sponsors for the IPO include Morgan Stanley and GF Securities [3] Group 2: Company Overview - Established in 2017, Precision Medical is the first in China and the second globally to have listing qualifications for multi-port, single-port, and natural orifice surgical robots [3] - The company focuses on the R&D, production, and sales of surgical robots and related instruments, covering various minimally invasive surgical needs across multiple departments [3] Group 3: Technological and Market Position - As of May 2025, the company holds over 800 global patents and patent applications, achieving self-controlled core technologies that break the long-standing overseas monopoly [3] - The products have been adopted in over 220 top-tier hospitals across 30 provinces in China, including renowned institutions like Peking University Third Hospital and Zhejiang University First Hospital [3] - Overseas revenue accounts for 40.60%, establishing a dual growth engine from domestic and international markets [3] Group 4: Financial Performance - The company demonstrates stable profitability, with gross margins of 59.30%, 61.30%, and 62.80% for the years 2023 to the first half of 2025, showing a steady upward trend [4] - In the first half of 2025, revenue reached 149 million yuan, indicating strong growth performance [4]