Core Viewpoint - Ningbo Jianxin Superconducting Technology Co., Ltd. has successfully registered its IPO on the Sci-Tech Innovation Board, indicating a significant step in its growth and market presence in the MRI equipment sector [1] Company Summary - Jianxin Superconducting primarily focuses on the research, development, production, and sales of core components for medical magnetic resonance imaging (MRI) equipment [1] - The main products include superconducting magnets, permanent magnets, and gradient coils, which account for approximately 50% of the cost of core components in MRI equipment [1] IPO Process Summary - The IPO application for Jianxin Superconducting was accepted on May 9 and received approval on October 21, with the registration submitted on the same day [1]

Group 1 - The core point of the article is the approval by the China Securities Regulatory Commission for Ningbo Jianxin Superconducting Technology Co., Ltd. to conduct its initial public offering (IPO) on the Shanghai Stock Exchange, with a fundraising target of 865 million yuan [1] - Jianxin Superconducting primarily engages in the research, production, and sales of core components for medical magnetic resonance imaging (MRI) equipment, including superconducting magnets, permanent magnets, and gradient coils [1] - The company has developed a diverse product matrix in the superconducting field, including 1.5T zero-evaporation superconducting magnets, 1.5T liquid helium-free superconducting magnets, 3.0T zero-evaporation superconducting magnets, and open zero-evaporation superconducting magnets, making it the leading independent supplier of superconducting magnets in the global MRI industry [1]

Core Viewpoint - Ningbo Jianxin Superconducting Technology Co., Ltd. has rapidly submitted its registration for an IPO on the Sci-Tech Innovation Board after receiving approval [1] Company Summary - Jianxin Superconducting primarily engages in the research, production, and sales of core components for medical magnetic resonance imaging (MRI) equipment [1] - The main products include superconducting magnets, permanent magnets, and gradient coils, which account for approximately 50% of the cost of core components in MRI equipment [1] Industry Summary - The approval of Jianxin Superconducting's IPO on October 21 indicates a growing interest and investment in the medical imaging technology sector, particularly in advanced components that enhance MRI capabilities [1]

Core Viewpoint - Ningbo Jianxin Superconducting Technology Co., Ltd. has been approved for its initial public offering (IPO) on the Shanghai Stock Exchange, marking it as the 61st company to pass the review this year [1][2]. Company Overview - Jianxin Superconducting specializes in the research, production, and sales of core components for medical magnetic resonance imaging (MRI) equipment, including superconducting magnets, permanent magnets, and gradient coils, which account for approximately 50% of the cost of MRI core components [1][2]. - The company plans to raise 775 million yuan (approximately 77.5 million) for projects including the annual production of 600 sets of liquid helium-free superconducting magnets and the technological transformation of high-field medical superconducting magnets [2]. Shareholding Structure - Xu Jianyi directly holds 41.51% of the company's shares, making him the controlling shareholder. His family members, Xu Hui and Xu Dianbo, hold 4.36% each, with additional control through Kai Fang Investment and Qi Yi Investment, resulting in a combined control of 59.92% of the voting rights [2]. Market and Competitive Landscape - The listing committee inquired about the market space, competitive landscape, and future development trends of the MRI equipment and superconducting magnet market, emphasizing the stability of the independent supplier business model compared to in-house production [3].

Core Viewpoint - Ningbo Jianxin Superconducting Technology Co., Ltd. has successfully passed the listing committee meeting of the Shanghai Stock Exchange's Sci-Tech Innovation Board, aiming to raise 865 million yuan for its operations [1] Company Overview - Jianxin Superconducting is primarily engaged in the research, production, and sales of core components for medical magnetic resonance imaging (MRI) equipment, including superconducting magnets, permanent magnets, and gradient coils [1] - The company ranks fifth among global superconducting magnet manufacturers in 2024, with a market share of approximately 4.2% [1] Product Portfolio - The company has developed a diverse product matrix in the superconducting field, including 1.5T zero-evaporation superconducting magnets, 1.5T helium-free superconducting magnets, 3.0T zero-evaporation superconducting magnets, and open zero-evaporation superconducting magnets, making it the leading independent supplier of superconducting magnets in the global MRI industry [1] - In the permanent magnet sector, Jianxin Superconducting is the largest supplier of MRI equipment permanent magnets globally, leveraging high-performance magnetic materials and efficient magnetic circuit design [1][2] Strategic Partnerships - The company has established close partnerships with renowned MRI equipment manufacturers such as Fujifilm, GE Healthcare, and others, facilitating innovation in the overseas supply chain model for MRI equipment [2] - Over 50% of the MRI equipment corresponding to the company's products is sold to Japan, Europe, and other emerging markets, promoting the global adoption of MRI technology [2] Fundraising and Investment Plans - The funds raised will be invested in projects including the annual production of 600 sets of helium-free superconducting magnets, a technical transformation project for high-field medical superconducting magnets, and the research and development of new superconducting magnets [2][3] - The total expected investment for these projects is approximately 779.97 million yuan, with the funds raised covering a significant portion of these costs [3] Financial Performance - The company's main business revenue for the years 2022, 2023, 2024, and the first half of 2025 is projected to be 332 million yuan, 422 million yuan, 401 million yuan, and 238 million yuan, respectively [3] - A slight decline in revenue is anticipated for 2024 compared to 2023, attributed to decreased income from permanent magnets due to falling raw material prices and slower growth in superconducting product revenue due to market pressures [3][4]

Core Viewpoint - Ningbo Jianxin Superconducting Technology Co., Ltd. is undergoing a listing review on October 21, focusing on the development, production, and sales of core components for MRI equipment, which constitute about 50% of the MRI equipment's cost [1] Company Overview - Jianxin Superconducting is the largest independent supplier of superconducting magnets globally and the largest supplier of permanent magnets for MRI equipment [1] - The company has developed a rich product matrix in the superconducting field, including various types of superconducting magnets, significantly reducing the technological gap with international giants [1][2] Market Position - In 2024, Jianxin Superconducting is projected to hold a 5% global market share in superconducting magnets and a 61% share in permanent magnets, establishing itself as a leader in both segments [1][2] Technological Advancements - The company has pioneered the all-solid-state conduction cooling technology, eliminating the reliance on liquid helium for MRI equipment, addressing domestic shortages [2] - The 1.5T helium-free superconducting magnet has been recognized as an "international first" by the Zhejiang Provincial Economic and Information Technology Department [2] Financial Performance - Jianxin Superconducting's revenue has shown consistent growth from 2022 to mid-2025, with a notable 57.10% year-on-year growth in the first half of 2025 [3] - Sales of helium-free superconducting products surged by 437.86%, contributing to the rapid expansion of the company's overall business scale [3] Industry Growth - The global MRI equipment market has grown from $7.5 billion in 2015 to an estimated $11.1 billion in 2024, with a compound annual growth rate (CAGR) of 4.5% [3] - The market is expected to reach $14.89 billion by 2030, driven by the proliferation of MRI equipment in emerging markets and domestic demand [3] Research and Development - As of June 30, 2025, the company holds 85 authorized patents, including 45 invention patents, reflecting its commitment to innovation [4] - Jianxin Superconducting aims to make MRI technology more accessible and affordable, addressing public healthcare challenges [4]

Core Viewpoint - Ningbo Jianxin Superconducting Technology Co., Ltd. is set to undergo its IPO review by the Shanghai Stock Exchange, reflecting a smooth IPO process since its application acceptance on May 9, 2023 [1][3] Company Overview - Jianxin Superconducting specializes in the R&D, production, and sales of core components for MRI equipment, including superconducting magnets, permanent magnets, and gradient coils, which account for approximately 50% of MRI equipment costs [3] - The company ranks as the world's leading independent supplier of superconducting magnets in the MRI industry and holds a 4.2% global market share in superconducting magnets, placing it fifth globally and second domestically in 2024 [3] - In the permanent magnet sector, Jianxin Superconducting leads with a 61% global market share in 2024 [3] IPO Progress - The company has adjusted its fundraising plan, reducing the total from 865 million yuan to 775 million yuan by eliminating a 90 million yuan working capital project [4][5] - The updated fundraising allocation includes 240 million yuan for new superconducting magnet R&D, 260 million yuan for a project to produce 600 high-field medical superconducting magnets, and 275 million yuan for a project to produce 600 helium-free superconducting magnets [4][5] Financial Performance - Jianxin Superconducting has shown steady revenue growth from 358.93 million yuan in 2022 to 450.64 million yuan in 2023, with net profits increasing from 34.63 million yuan to 57.84 million yuan during the same period [6] - However, the company's gross margin is significantly lower than its peers, averaging around 24.84% compared to the industry average of approximately 47.41% [6][7] R&D Investment - The company's R&D expense ratio is the lowest among comparable companies, with rates of 5.66% to 6.65%, compared to an industry average of 14.44% to 18.36% [8][9] - This low investment in R&D raises concerns about the company's technological capabilities and future growth potential [8] Capacity Expansion and Market Demand - Jianxin Superconducting plans to increase its production capacity from 300 units per year to 1,500 units per year through new projects, adding 1,200 units of capacity [10][11] - The company has projected sales of 900 units in 2027 and 1,500 units in 2029, but there are concerns about the feasibility of these targets and the accountability for unmet projections [11]

Core Viewpoint - Ningbo Jianxin Superconducting Technology Co., Ltd. is set to hold its IPO on the Sci-Tech Innovation Board on October 21, marking a significant milestone in the company's development and contributing to the domestic high-end medical equipment localization process [1] Company Overview - Jianxin Superconducting has been deeply engaged in the MRI core component sector for many years, focusing on the R&D, production, and sales of superconducting magnets, permanent magnets, and gradient coils, which account for approximately 50% of the cost of MRI equipment [1][2] - The company has established a leading core technology system in the superconducting field, offering a diverse product matrix including 1.5T zero-evaporation superconducting magnets and 3.0T zero-evaporation superconducting magnets, making it the world's top independent supplier of superconducting magnets in the MRI industry [1][2] Market Position and Achievements - Since 2015, Jianxin Superconducting has broken the long-standing monopoly of European, American, and Japanese manufacturers in the zero-evaporation superconducting magnet sector, significantly enhancing the domestic MRI equipment localization rate [2] - The company has received national recognition for its technological contributions, with its 3.0T zero-evaporation superconducting magnet recognized as a "provincial first set of equipment" in 2020 [2] - Jianxin Superconducting is the largest supplier of MRI permanent magnets globally, with a focus on high-quality products that support the widespread adoption of MRI equipment in grassroots medical systems [3] Financial Performance - The company's revenue from 2022 to the first half of 2025 shows a steady increase, with figures of 358.93 million, 450.64 million, 425.50 million, and 252.10 million yuan, respectively, while net profits were 34.63 million, 48.73 million, 55.78 million, and 31.92 million yuan [3] - In 2024, the company is expected to achieve bulk supply to GE Healthcare, breaking into the supply chain of leading integrated equipment manufacturers, which opens up significant growth opportunities [3] IPO and Future Plans - Jianxin Superconducting plans to issue up to 41.92 million shares in its IPO, with funds primarily allocated to projects for annual production of 600 sets of liquid-helium-free superconducting magnets and high-field medical superconducting magnets [4] - The fundraising projects are closely aligned with the company's main business, aiming to expand production capacity, enhance product layout, and strengthen R&D capabilities, while also promoting the industrial application of superconducting technology in sectors like power and transportation [4] Industry Outlook - The MRI core component market is poised for significant growth due to increasing global healthcare demands, accelerated adoption of MRI equipment in emerging markets, and ongoing domestic medical equipment localization policies [4] - Jianxin Superconducting, with its technological leadership and market recognition, is well-positioned to expand its market share and contribute to enhancing the self-sufficiency of high-end medical equipment in China [4]

Group 1 - The core mission of the company is to make MRI technology accessible for everyday medical examinations through independent research and continuous innovation [1] - The company has established close partnerships with well-known MRI equipment manufacturers such as Fujifilm Holdings Corporation and Beijing Wandong Medical Technology Co., Ltd [1] - From 2022 to the first half of 2025, the company reported revenue of 359 million, 451 million, 425 million, and 252 million CNY, with net profits of 34.63 million, 48.73 million, 55.78 million, and 31.92 million CNY respectively, indicating an overall upward trend in revenue [1] Group 2 - The funds raised will be invested in projects including the annual production of 600 sets of helium-free superconducting magnets and the technological transformation of high-field medical superconducting magnets [2] - The company has successfully developed the world's first 1.5T helium-free superconducting magnet, showcasing its core technology in the next generation of superconducting magnets [2] - The company aims to enhance its competitive edge in products and technology, contributing to the domestic substitution of high-end medical equipment and creating long-term value for investors [2]

Core Viewpoint - The company, Ningbo Jianxin Superconducting Technology Co., Ltd., is preparing for its IPO on the Sci-Tech Innovation Board, with a reduced fundraising target of 775 million yuan due to the cancellation of a supplementary working capital project [1][5][6]. Group 1: Company Overview - Jianxin Superconducting is the largest independent supplier of superconducting magnets globally and ranks second among domestic companies in the MRI equipment superconducting magnet market share [3][4]. - The company specializes in the research, production, and sales of core components for medical MRI equipment, with superconducting magnets, permanent magnets, and gradient coils constituting about 50% of the MRI equipment's core component costs [3]. Group 2: Financial Performance - The company reported revenues of 359 million yuan, 451 million yuan, 425 million yuan, and 252 million yuan for the years 2022 to 2024 and the first half of 2025, respectively, with net profits of 34.63 million yuan, 48.73 million yuan, 55.78 million yuan, and 31.92 million yuan during the same periods [3]. - The company has maintained consistent cash dividends over the reporting period, with amounts around 19.99 million yuan each year from 2022 to 2024 [6]. Group 3: IPO Process and Fundraising - The IPO process has been relatively swift, with the company receiving acceptance on May 9 and entering the inquiry phase by May 31, undergoing two rounds of inquiries before the upcoming meeting on October 21 [3][4]. - The revised fundraising plan includes 275 million yuan for an annual production of 600 sets of non-liquid helium superconducting magnets, 260 million yuan for a technical upgrade project for high-field medical superconducting magnets, and 240 million yuan for new superconducting magnet research and development [5][6]. Group 4: Market Position and Growth Potential - The company is positioned to enhance its market share by integrating into the supply chains of leading complete machine enterprises, indicating significant growth potential in its product market share [4]. - The company aims to increase its R&D investment, expand production scale, and enhance its competitive advantage and profitability post-IPO [4]. Group 5: Financial Metrics and Industry Comparison - The company's gross margin has been significantly lower than the industry average, with figures of 19.56%, 22.84%, 24.94%, and 24.84% for the years 2022 to 2025, compared to industry averages of 46.27%, 45.59%, 45.17%, and 47.41% [8]. - The R&D expense ratio for the same periods was 5.66%, 5.42%, 6.5%, and 6.65%, indicating efficient use of R&D funds due to prior investments and technological accumulation [9].