Core Viewpoint - The Xi'an Jiaotong University First Affiliated Hospital has acknowledged public concerns regarding the treatment of a patient, Li, who passed away after undergoing a complex heart surgery. The hospital has initiated a special task force to investigate the issues raised and has provided a detailed account of the medical procedures and costs involved [1][2]. Summary by Sections Basic Information - Patient Li, a 70-year-old male, was admitted for treatment of multiple severe health conditions, including heart valve disease and hypertension, and underwent a transcatheter aortic valve replacement (TAVR) on November 21, 2020. Following complications, he was transferred out of the hospital on December 8, 2020, and unfortunately passed away on January 4, 2021. The family has raised concerns and filed a lawsuit against the hospital, which is currently under review [2]. Investigation Findings - **Medical Costs and Valve Details**: The total medical expenses for the patient amounted to 613,200 yuan, with 293,200 yuan covered by insurance and 320,000 yuan paid out-of-pocket. The cost of the artificial heart valve was 280,000 yuan, representing 87.5% of the out-of-pocket expenses [2]. - **Compliance in Procurement and Charges**: The heart valve and related equipment were procured through a public bidding process, with the hospital adhering to the "zero markup" policy mandated by the state. The family was informed of the costs and risks prior to the procedure, and a consent form was signed [3]. - **Surgical Materials and Charges**: During the TAVR procedure, a second valve was implanted due to the first valve's misplacement, and the hospital charged for each valve without double billing [3]. Medical Supplies and Charges - The "6,000 yuan gauze" referred to in public discourse was actually absorbable hemostatic gauze, essential for controlling bleeding during surgery. The hospital used two packages of this gauze and one set of absorbable vascular sealing glue, with all charges compliant with pricing regulations [4]. Insurance Fund Usage - An audit by the Xi'an Medical Insurance Fund Management Center identified 26 instances of general violations related to insurance fund usage during the patient's hospitalization, totaling 75,060.4 yuan. The violations included improper billing practices and the use of medications that exceeded insurance coverage limits [5]. Rectification Measures - In response to the identified issues, the hospital has committed to rectifying management deficiencies and has implemented a smart monitoring system for insurance billing. The hospital expressed understanding of the family's grief and is cooperating with investigations to clarify facts and responsibilities [6]. Additional Context - The Xi'an Jiaotong University First Affiliated Hospital is a comprehensive hospital with a history dating back to 1937, currently equipped with 3,600 beds and over 7,000 staff members. The hospital is recognized for its advanced capabilities in cardiovascular disease treatment and has conducted numerous complex surgeries [11].

Core Viewpoint - The article discusses the case of a patient, Mr. Li, who underwent a heart valve replacement surgery at Xi'an Jiaotong University First Affiliated Hospital, highlighting the hospital's response to public concerns regarding the treatment and associated costs [3][4]. Summary by Sections Basic Situation - Mr. Li, a 70-year-old male, was admitted for multiple severe health issues and underwent a transcatheter aortic valve replacement (TAVR) on November 21, 2020. Post-surgery complications led to his transfer to another hospital, where he later passed away on January 4, 2021. The family has raised concerns and filed a lawsuit against the hospital, which is currently under review [4]. Investigation of Public Concerns - **Medical Costs and Valve Details**: The total medical expenses during Mr. Li's hospitalization amounted to 613,200 yuan, with 293,200 yuan covered by insurance and 320,000 yuan paid out-of-pocket. The cost of the artificial heart valve was 280,000 yuan, constituting 87.5% of the out-of-pocket expenses [5]. - **Compliance of Valve Procurement and Charges**: The heart valve and related equipment were procured through a public bidding process, with the hospital adhering to the "zero markup" policy for medical consumables. The family was informed of the costs and risks prior to surgery, and a consent form was signed [6]. - **Surgical Material Usage and Charges**: During the TAVR procedure, a second valve was required due to the first one being misplaced, and the hospital charged for each valve without double billing [6]. - **Absorbable Hemostatic Materials**: The reported "6,000 yuan gauze" was actually absorbable hemostatic gauze, essential for controlling bleeding during surgery. Two packages were used at a cost of 5,960 yuan, and an additional hemostatic glue was used at a cost of 5,700 yuan, all in compliance with pricing regulations [7]. Medical Insurance Fund Usage - A comprehensive review by the Xi'an Medical Insurance Fund Management Center identified 26 issues related to improper use of the insurance fund during Mr. Li's hospitalization, amounting to 75,060.4 yuan in violations. This included charges for materials not properly documented and medications that exceeded insurance coverage limits [8]. Rectification Measures - In response to the identified issues, the hospital has initiated a self-inspection process to address management gaps and ensure compliance with medical quality and insurance fund usage. They have implemented a smart monitoring system for insurance charges and expressed a commitment to cooperate with investigations and uphold accountability [9].

Core Points - The China Securities Regulatory Commission has accepted the application for the initial public offering (IPO) and listing of Sykes Biotech Co., Ltd. on October 20, 2025, with Everbright Securities as the counseling institution [1] - The counseling agreement was signed on October 16, 2025, and other participating institutions include Shanghai Chengming Zezheng Law Firm and Xinyong Zhonghe Accounting Firm [3][4] - Sykes Biotech aims to raise 455 million yuan for projects including the second phase of its biopharmaceutical production and R&D base and development reserve funds [4][5] Financial Performance - Sykes Biotech's revenue for 2021, 2022, and 2023 was 437.25 million yuan, 435.82 million yuan, and 379.47 million yuan, respectively, showing a decline in 2023 [8] - The net profit for the same years was 126.75 million yuan, 136.51 million yuan, and 150.16 million yuan, indicating an increase in net profit over the years [8] - The total assets at the end of 2023 were 936.55 million yuan, with a debt-to-asset ratio of 8.58% [9] R&D and Market Position - The company specializes in the R&D, production, and sales of implantable biomaterials and medical devices, with major products including surgical anti-adhesion solutions and absorbable medical adhesives [8] - The gross profit margins for the reporting periods were 90.52%, 88.28%, and 87.45%, indicating strong profitability [10] - Sykes Biotech's R&D expenses were 24.93 million yuan, 24.31 million yuan, and 35.00 million yuan for the years 2021, 2022, and 2023, respectively, with R&D investment as a percentage of revenue increasing to 9.22% in 2023 [10] Corporate Governance - The controlling shareholder of Sykes Biotech is Shandong Saixing Holding Group Co., Ltd., which holds 72.11% of the shares [10] - The company faced regulatory scrutiny in September 2024, with warnings issued to its former chairman and executives for failing to act diligently and responsibly [11]

Core Viewpoint - Sykes Bio-Tech Co., Ltd. (referred to as "Sykes") has resumed its application for an A-share listing, with guidance from Everbright Securities, after previously withdrawing its IPO application in January 2025 due to market conditions and strategic considerations [1] Group 1: Company Overview - Sykes is a high-tech enterprise specializing in the research, production, and sales of implantable biomaterials for medical devices, focusing on areas such as hemostasis, surgical adhesion prevention, tissue sealing, and interventional embolization [1] - The company currently has 20 medical device products, including 8 Class III medical devices, with 3 being exclusive domestic products [1] Group 2: Product Performance - Key products include surgical adhesion prevention liquid, composite microporous polysaccharide hemostatic powder, absorbable dura mater sealing medical glue, and absorbable vascular sealing medical glue, with the first two having over 10 years of clinical application and a market acceptance rate above 26% [2] - As of the date of the prospectus, the absorbable dura mater sealing medical glue holds the top market share, while the absorbable vascular sealing medical glue is the only domestic brand in its category [2] - From 2021 to 2023, the sales volume of absorbable dura mater sealing medical glue and absorbable vascular sealing medical glue grew rapidly, with compound annual growth rates of 43.36% and 118.93%, respectively [2] Group 3: Financial Performance - Sykes reported revenues of 437 million yuan, 436 million yuan, and 379 million yuan for the years 2021, 2022, and 2023, respectively, with net profits of 127 million yuan, 137 million yuan, and 150 million yuan during the same period [2] Group 4: Fundraising and Future Plans - The company plans to raise 455 million yuan through its IPO to invest in the second phase of its biopharmaceutical production and research base, as well as for development reserve funds [3] - The second phase project aims to establish a biopharmaceutical production and research base focused on the development of research projects, with part of the raised funds allocated for R&D investment [3] - The controlling shareholder of Sykes is Shandong Saixing Holding Group Co., Ltd., which holds 72.11% of the company's shares [3]

文/西风 近日，深交所公布对赛克赛斯生物科技股份有限公司主板IPO终止审核的决定，直接原因是公司及保荐机构海通证券撤回申报。公司IPO于 2023年2月23日获得受 理，2023年5月23日公布首轮问询的回复，2023年12月30日公布首轮问询回复的更新版。2024年6月29日公布最新版本的招股书（申报稿）。公司本次IPO拟募资 4.55亿元。 公司注册地山东济南，前身山东赛克赛斯药业科技有限公司成立于2003年6月，2018年11月整体变更为股份公司，目前注册资本3.5008亿元。公司控股股东为山东 赛星控股集团有限公司，实际控制人为1977年出生的邹方明先生，拥有美国境外永久居留权。邹方明直接和间接合计控制公司 90.94%的股权，现任公司董事长。 一、2个产品技术水平国际先进，1个产品市占率第一 公司为一家专业从事植介入生物材料类医疗器械的研发、生产和销售的高新技术企业，在止血及手术防粘连类、组织封合及保护类、介入栓塞类、组织工程类等 生物材料领域拥有领先技术。目前拥有各类医疗器械产品 20 个，其中第三类医疗器械产品 8 个，3 个产品系国产独家产品；围绕 4 大生物材料领域共拥有主要在 研项目 11 ...