Core Insights - The 2025 Future Medical and Pharmaceutical Top 100 Exhibition (VBEF) was held in Suzhou, showcasing advancements in medical technology, with Shenzhen Beixin Life Technology Co., Ltd. recognized in the "Top 100 Chinese Innovative Medical Devices and Intelligent Manufacturing" list [1] - Beixin Life's core product, the Intravascular Ultrasound (IVUS) system, won the "Best Intelligent Medical Device Technology Innovation Product" award, marking a significant achievement in the cardiovascular precision intervention field [1][2] - The company has successfully broken the long-standing dominance of imported products in China's cardiovascular precision diagnosis market, completing this transition in nine years [1] Product and Technology Highlights - The IVUS system features a 60MHz imaging resolution, high retraction speed, and intelligent operation, establishing a strong position in the domestic market [2] - It is the first domestically developed IVUS system approved under the EU MDR, successfully entering international markets [2] - The FFR (Fractional Flow Reserve) system, another core product, is recognized as the first domestically approved gold standard FFR system, showcasing Beixin Life's technological leadership [2] Innovation and Development - Beixin Life has established four core technology platforms: micro-nano device research and packaging, interventional catheter research and processes, high-performance medical hardware development, and high-performance signal and image algorithms [2][3] - The company has launched 11 commercialized products based on these platforms, obtaining over 20 Class III medical device registration certificates, and serving more than 1,000 hospitals and 150,000 patients globally [2] - The IVUS system incorporates advanced features such as the inSmartVision platform for automatic image analysis and the EasyGO function for angiography registration, enhancing clinical efficiency and reducing procedure time [3] Future Aspirations - Beixin Life aims to continue its mission of improving life and health through innovation and quality, aspiring to become a world-class medical technology enterprise with lasting influence [3] - The recognition from the awards and the inclusion in the top 100 list serve as validation of the company's technological innovations and clinical value, motivating further advancements in the cardiovascular precision intervention sector [3]

Core Insights - The National Medical Products Administration of China emphasizes support for high-end medical device innovation, particularly in advanced medical imaging equipment, to address the growing global demand for cardiovascular disease treatment solutions [1] - Beixin Life, a domestic company focused on high-end medical device innovation, aims to develop high-performance interventional medical devices to tackle the significant public health issue of cardiovascular diseases [1][3] - The company has successfully developed and commercialized proprietary high-performance diagnostic equipment, contributing to the advancement of domestic high-end medical devices [1][3] Industry Overview - Coronary heart disease is recognized as a major health threat globally, with cardiovascular diseases being the leading cause of death in China [2] - China has the highest annual volume of percutaneous coronary intervention (PCI) procedures, with a trend towards precision treatment guided by advanced coronary functional and imaging technologies [2] - The reliance on imported devices and materials has historically dominated the market due to high R&D barriers and long return cycles [2] Company Achievements - Since its establishment in 2015, Beixin Life has developed a series of intelligent cardiovascular interventional solutions, including the first domestically approved IVUS and FFR systems [3][4] - The company has obtained over 20 Class III medical device registrations and successfully launched 11 products [3] - Beixin Life is the only domestic company with the technology to develop and manufacture 60MHz high-frequency micro-ultrasound transducers and MEMS pressure sensor modules [4] Market Potential - The cardiovascular device market is the second largest globally and is expected to grow rapidly over the next decade, with a significant patient population for coronary heart disease [7] - The number of PCI procedures in China is projected to increase from 1.906 million in 2024 to 4.298 million by 2030, with a compound annual growth rate of approximately 14.5% [7] - The precision PCI market in China is expected to grow from 2.04 billion yuan in 2022 to 9.42 billion yuan by 2030, with a compound annual growth rate exceeding 20% [7] Competitive Position - Beixin Life's FFR product captured 30.6% of the domestic market share shortly after its launch, while its IVUS product became the leading domestic option, reducing reliance on imports [8] - The company has successfully expanded its products to international markets, receiving positive feedback and achieving routine clinical use in multiple countries [8] - Beixin Life aims to enhance the synergy of its product system and adapt to international markets, thereby improving the global competitiveness of China's high-performance medical device industry [9]

Core Insights - North Chip Life Technology Co., Ltd. has focused on innovative medical devices for precise diagnosis and treatment of cardiovascular diseases since its establishment in 2015 [1] - The company has broken the monopoly of overseas giants in the field of cardiovascular precision intervention and has filled multiple domestic gaps [1] - North Chip Life has received over ten Class III medical device registration certificates both domestically and internationally, with 185 authorized patents as of June 30, 2025, including 86 invention patents [1] Product Highlights - The company's intravascular ultrasound (IVUS) system is the first domestically approved high-definition (60 MHz) IVUS product in China and the first to be approved for overseas sales (EU MDR) [1] - The core product, the fractional flow reserve (FFR) measurement system, is also the first domestically approved FFR product in China and the first to be approved for overseas sales (EU MDR), recognized as "internationally leading and domestically pioneering" by the National Medical Products Administration [1] - These products have significantly improved the precision and effectiveness of cardiovascular disease diagnosis and treatment [2] Market Reach and Recognition - North Chip Life's cardiovascular precision intervention solutions have been implemented in over 1,500 hospitals across more than 50 countries, benefiting over 150,000 patients globally [2] - The FFR system has been recognized by Boston Consulting Group as a representative product of China's medical device innovation 3.0 [2] - The 2024 Medical Device Industry Innovation Index recognized North Chip Life as one of the "Top 100 Innovative Enterprises" and "Outstanding Enterprises in Overseas Expansion" [2] Future Vision - The company aims to become a world-class medical technology enterprise with a lasting impact, continuing to invest in research and development to provide more quality diagnostic options for global cardiovascular disease patients [3]

Core Viewpoint - Shenzhen Beixin Life Technology Co., Ltd. is a leading domestic innovator in the cardiovascular medical device sector, focusing on increasing the localization rate of high-end medical equipment and addressing the growing global demand for cardiovascular disease treatment solutions [1][3]. Financial Performance - In 2024, Beixin's revenue reached 316.60 million yuan, marking a year-on-year growth of over 70% compared to 2023's 183.98 million yuan [2]. - The company has achieved positive cash flow from operating activities, with significant losses narrowing and approaching breakeven [2]. - Sales expense ratio and management expense ratio decreased by approximately 21 percentage points and 26 percentage points, respectively, indicating improved operational efficiency [2]. Market Position and Product Development - Beixin has solidified its position as a leader in the domestic cardiovascular precision interventional device market, with its IVUS system becoming the first domestically produced product to receive EU MDR certification and achieve sales of over 217 million yuan in 2024 [3]. - The FFR system, as the first approved gold standard FFR product in China, has been adopted in approximately 1,000 hospitals nationwide since its launch in 2020 [3]. - The company has launched 11 products to date, with 6 more in development, covering various innovative fields related to coronary artery disease, peripheral vascular disease, and atrial fibrillation treatment [4]. Research and Development - Beixin has increased its R&D investment and was recognized as a national "specialized, refined, and innovative" small giant enterprise in July 2023 [4]. - The company is set to introduce a new generation of integrated functional imaging solutions and the first domestic all-crown functional evaluation solution by 2025 [4]. - Beixin's pulse field ablation technology has entered the special review process for innovative medical devices, with clinical trials selected for the 2025 European Society of Cardiology Congress [4]. International Expansion - In 2024, Beixin achieved overseas revenue of 38.83 million yuan, a nearly 160% increase compared to 2023 [5]. - The company aims to transition from "high-end substitution" to "global leadership" in the cardiovascular precision intervention field, with a vision to become a world-class medical technology enterprise [5].

Core Viewpoint - North Chip Life Technology Co., Ltd. is preparing for its IPO on the Sci-Tech Innovation Board, focusing on innovative medical devices in the cardiovascular precision intervention field [1] Company Overview - Established in 2015, North Chip Life specializes in high-performance active interventional devices for major diseases such as coronary heart disease and atrial fibrillation [1] - The company has developed key technologies, including the first domestically developed FFR system and a 60MHz high-speed IVUS system, breaking foreign monopolies [1] - Over ten products have been commercialized, with FFR and IVUS systems used in approximately 1,000 hospitals globally [1] Research and Development - North Chip Life has significantly increased R&D investment, establishing four technical platforms covering the entire chain from core sensor packaging to image analysis algorithms [1] - The company has applied for over 360 patents, with more than 180 granted, including over 80 invention patents and 14 PCT international patent applications [2] Financial Performance - Revenue figures for 2022, 2023, and 2024 are approximately 0.92 billion, 1.84 billion, and 3.17 billion respectively, with positive operating cash flow and narrowing losses [2] - Sales and management expense ratios are projected to decrease by about 21 percentage points and 26 percentage points respectively in 2024, indicating improved operational efficiency [2] Market Potential - The number of PCI procedures in China reached 1.636 million in 2023, expected to grow to 4.3 million by 2030, driving demand for the company's core products [3] - The precision PCI market in China is projected to grow from 2.04 billion in 2022 to 9.42 billion by 2030, with a compound annual growth rate exceeding 20% [3] Global Expansion - North Chip Life is the first domestic company to obtain EU CE/MDR certification for both FFR and IVUS products, with regular supply to countries like Germany, the UK, and Italy [2] - In 2024, overseas revenue reached approximately 38.83 million, a year-on-year increase of nearly 160% [2] Vision and Future Plans - The company aims to become a world-class medical technology enterprise with a long-lasting impact, focusing on technology accumulation, product matrix, and global layout [3] - With a solid R&D capability and high-performance product matrix, North Chip Life is positioned to become a representative enterprise in the high-end medical device sector in China [3]