智通财经APP获悉，据港交所8月26日披露，北京天星医疗股份有限公司(简称：天星医疗)向港交所主板递交上市申请，中信证券、建银国际为联席保 荐人。据招股书，天星医疗是一家专注于运动医学整体临床解决方案的创新型医疗器械公司。据灼识咨询数据，按2024年销售收入计，天星医疗是中 国最大的国产运动医学公司。 招股书显示，依托自主研发的植入物、有源设备、相关耗材及手术器械，公司提供肩、膝、髋、足╱踝、肘、手╱腕关节的肩袖、韧带、半月板等软 组织损伤治疗，也提供运动康复及预防的全方位解决方案。 根据灼识咨询的资料，伴随运动人群持续增加、人口老龄化加剧、健康意识增强以及微创手术渗透率提升，运动医学市场是在所有医疗器械细分领域 中增速最快的板块之一，中国运动医学市场于2024年至2030年预计将以14.3% 的年复合增长率增长。同时，受益于国家对国产医疗器械的鼓励政策以 及国产品牌技术的快速进步，国内运动医学提供商预计将提升其在中国运动医疗市场的市场渗透率。 截至最后实际可行日期，天星医疗拥有国内最全面的运动医学产品，主要涵盖植入物、有源设备及相关耗材、手术工具等52款产品，可以提供整体临 床运动医学解决方案。第三类医疗器 ...

Core Viewpoint - Tianxing Medical's IPO on the Sci-Tech Innovation Board has been terminated due to the withdrawal of its sponsor, as announced by the Shanghai Stock Exchange on June 6 [1] Company Overview - Tianxing Medical, established in July 2017, specializes in innovative medical devices for sports medicine, focusing on the research, production, and sales of implants, active devices, consumables, and surgical tools [2] - The company provides comprehensive clinical solutions for patients and doctors in the field of sports medicine [2] Financial Performance - Tianxing Medical's revenue has shown rapid growth, with figures of 73.01 million yuan, 148 million yuan, 241 million yuan, and 223 million yuan for the years 2021 to 2023 and the first nine months of 2024, respectively [2] - The net profit for the same periods was -110 million yuan, 40.34 million yuan, 63.58 million yuan, and 64.08 million yuan [2] - The compound annual growth rate (CAGR) of revenue from 2021 to 2023 was 81.75% [2] Market Position - The Chinese sports medicine market is projected to grow from approximately 6.09 billion yuan in 2023 to about 13.05 billion yuan by 2030, with a CAGR of around 11.5% from 2022 to 2030 [2] - In 2023, imported products held over 80% of the market share in China's sports medicine sector, with Tianxing Medical capturing about 4% of the market, ranking first among domestic companies [3] Competitive Landscape - Tianxing Medical faces significant competition from multinational companies, which have established brand recognition and extensive sales networks [3] - Compared to listed peers such as Dabo Medical, Kailitai, Weigao Orthopedics, and Chunli Medical, Tianxing Medical's revenue of 223 million yuan is relatively small, with its competitors reporting revenues of 1.529 billion yuan, 750 million yuan, 1.083 billion yuan, and 508 million yuan, respectively [4] Fundraising and Financial Concerns - The company faced market skepticism regarding the rationality of its fundraising plan, which initially aimed to raise 1.093 billion yuan, with a significant portion allocated for working capital [5] - As of September 30, 2024, Tianxing Medical's total assets were 551 million yuan, and net assets were 446 million yuan, with a debt ratio of only 19.03% [6] - The company planned to use 220 million yuan for working capital, raising questions about the necessity of this allocation given its existing cash reserves of 384 million yuan [6]

6月6日上交所公告，因北京天星医疗股份有限公司(简称"天星医疗")的保荐人撤销保荐，根据规定上交所终止其发行上市审核。 运动医学创新医疗（002173）器械企业天星医疗科创板IPO告终。 截至2024年9月30日，天星医疗已建立包含47个获批注册/备案的运动医学产品的完整矩阵。在植入物领域，先后推出多款聚醚醚酮材料、可吸收材料，以及 全缝线材料的植入产品，其中11款产品为国产首个获批上市。公司已获得20张III类医疗器械注册证、17张II类医疗器械注册证，并且已获得15个产品的CE认 证，以及产品获得美国、英国、澳大利亚、印度、印度尼西亚和阿拉伯联合酋长国等国家的医疗器械注册证/备案证书。 天星医疗在运动医学领域已建立起较高的品牌知名度。截至2024年9月30日，公司产品已覆盖医院超过3000家，遍布31个省、自治区和直辖市。根据灼识咨 询相关报告，天星医疗占领我国2023年运动医学医疗器械市场约4%的市场份额，在国产企业中排名第一。 业绩方面，2022年至2024年前三季度，天星医疗分别实现营业收入1.48亿元、2.41亿元和2.23亿元，分别实现归母净利润4034.43万元、6357.94万元和6408. ...