Core Viewpoint - The document outlines the underwriting and sponsorship of Shanghai C&D INNOSTIC Medical Technology Group Co., Ltd.'s initial public offering (IPO) on the ChiNext board by CITIC Securities, emphasizing the company's compliance with relevant laws and regulations, and its strong growth potential in the medical device industry [2][8]. Section 1: Basic Information of the Securities Issuance - The underwriting institution is CITIC Securities Co., Ltd. [4] - The issuer, Shanghai C&D INNOSTIC Medical Technology Group Co., Ltd., was established on August 30, 2010, and transformed into a joint-stock company on November 8, 2017, with a registered capital of 358.095232 million RMB [3][4]. Section 2: Underwriting Institution's Commitment - CITIC Securities has conducted due diligence and confirmed that the issuer meets the legal requirements for the IPO, ensuring that the application documents are accurate and complete [7][8]. Section 3: Underwriting Institution's Opinions on the Securities Issuance - The underwriting institution believes that the issuer possesses the necessary conditions for the IPO, including a sound governance structure, strong operational performance, and a promising development outlook [8][10]. - The issuer's main business is the direct sales and distribution of medical devices, which aligns with national industrial policies and development strategies [10][12]. Section 4: Financial Performance - The company's revenue for the reporting periods was 1,188.2474 million RMB, 1,544.3269 million RMB, and 1,792.2751 million RMB, with year-on-year growth rates of 29.97% and 16.06% for 2023 and 2024, respectively [22]. - The net profit for the same periods was 189.2198 million RMB, 226.8766 million RMB, and 273.7902 million RMB, with increases of 19.90% and 20.68% for 2023 and 2024 [22]. Section 5: Industry Positioning - The issuer operates in the medical device distribution sector, which is classified under "F515 Medical and Medical Equipment Wholesale" according to national industry standards, and is compliant with the ChiNext board's industry requirements [18][21]. - The issuer's business model incorporates innovative technologies such as information management and IoT to enhance operational efficiency and reduce costs in the medical device supply chain [19][20]. Section 6: Risk Factors - The company faces risks associated with high asset-liability ratios and low liquidity ratios, which could impact its operational stability if financing conditions tighten [21][22]. - The issuer's reliance on major suppliers and potential changes in supplier relationships could adversely affect its business operations [26][30].