Group 1 - The company focuses on the research and commercialization of biomedical materials and high-end medical devices [2] - The company aims to leverage the development opportunities presented by "expanding domestic demand and promoting consumption" [2] - The company plans to continuously expand its layout in the healthcare sector [2]

Group 1 - The Beijing Stock Exchange's listing committee approved Changzhou Baijiji Bio-Medical Co., Ltd. for its initial public offering (IPO), marking it as the 10th company to pass the review in 2026, with 5 from the Shanghai and Shenzhen stock exchanges and 5 from the Beijing Stock Exchange [1][2] - Baijiji specializes in the research, production, and sales of biomedical materials, focusing on innovative development of tissue repair and regeneration materials [1][2] - The company plans to issue up to 9.2072 million shares, potentially increasing to 10.5883 million shares if the overallotment option is fully exercised, with a public shareholder ownership ratio of no less than 25% post-issuance [2] Group 2 - The funds raised, amounting to 105.931 million yuan, will be allocated for the construction of a biodegradable biomedical materials industrial base [2] - The review meeting raised inquiries regarding the sustainability of the company's performance growth, specifically asking for evidence on market size expectations and the progress of R&D and market development [2]

公司主要财务指标 公司主要从事生物医用材料等产品的研发、生产和销售。募集资金拟投资于可吸收可降解生物医用材料 产业基地建设项目。本次发行保荐机构为中国国际金融股份有限公司。 财务数据显示，2022年—2024年公司实现营业收入分别为1.51亿元、1.98亿元、2.31亿元，实现净利润 分别为3106.44万元、5007.84万元、5231.16万元。增幅方面，2024年公司营业收入增长16.68%，净利润 同比增长4.46%。（数据宝） 证券时报·数据宝统计显示，1月21日，北交所上市委员会2026年第6次审议会议结果公告显示，常州百 瑞吉生物医药股份有限公司(简称百瑞吉)首发申请获上市委会议通过，公司拟在北交所上市。 | 财务指标/时间 | 2024年 | 2023年 | 2022年 | | --- | --- | --- | --- | | 营业收入（万元） | 23122.72 | 19817.83 | 15073.99 | | 归属母公司股东的净利润（万元） | 5231.16 | 5007.84 | 3106.44 | | 扣除非经常损益后归属母公司所有者净利润（万元） | 5369.42 | 45 ...

Core Viewpoint - Changzhou Baijie Bio-Medical Co., Ltd. (Baijie) successfully passed the listing committee's review meeting of the Beijing Stock Exchange on January 21, 2023, indicating a significant step towards its public offering [1]. Company Overview - Baijie, established in April 2008, is a high-tech enterprise primarily engaged in the research, production, and sales of biomedical materials [3]. - The company focuses on creating a leading research platform for bio-simulated tissue repair and regeneration materials through independent innovation [3]. Market Presence - As of June 30, 2025, Baijie's main products have been approved in approximately 2,100 hospitals in China, including around 600 top-tier hospitals [4]. - The company's products have also been successfully sold in developed countries such as the United States, Germany, the United Kingdom, France, and Australia, gaining international market recognition [4]. Financial Performance - Baijie's revenue has shown steady growth, with figures of 1.51 billion yuan in 2022, 1.98 billion yuan in 2023, 2.31 billion yuan in 2024, and 1.41 billion yuan in the first half of 2025 [5][6]. - Net profit figures for the same periods are 0.31 billion yuan, 0.50 billion yuan, 0.52 billion yuan, and 0.41 billion yuan, indicating a robust profitability and growth resilience [6]. Future Projections - For the full year of 2025, Baijie expects to achieve approximately 2.92 billion yuan in revenue and around 0.70 billion yuan in net profit, representing growth rates of 26.16% and 34.59% compared to 2024, respectively [8]. - The anticipated growth is attributed to increased downstream demand and improved surgical penetration rates of the company's anti-adhesion products [8]. Investment Plans - Baijie plans to raise 350 million yuan to expand its core product capacity and meet growing market demand, focusing on the construction of a biodegradable biomedical materials production base and R&D center [9]. - The project will involve the purchase of land and the construction of a facility in Changzhou, Jiangsu Province, covering an area of 10,200 m² with a total investment of 171.18 million yuan [9]. Competitive Advantage - Baijie possesses strong competitive advantages through its core independent R&D technologies, having obtained 19 domestic invention patents, 1 patent in Taiwan, and 32 PCT patents [10]. - The company has been recognized as a national-level "specialized, refined, and innovative" small giant enterprise, reflecting its innovation-driven development in the biomedical industry [10]. - With the accelerating global aging population and increasing healthcare demands, the regenerative medicine and biomaterials market presents significant growth opportunities for Baijie [10].

文/飞云 单位：万元 | | 北交所 | | | | | | --- | --- | --- | --- | --- | --- | | 公司简称 | 主营业务 | 2024年营收 | 2024年净利润 | 审核结果 | 保荐/律所/审计 | | 百瑞吉 | 生物医用材料 | 23,122.72 | 5,369.42 | 通过 | 中金公司/锦天城/容诚 | 注：净利润为扣非归母净利润 常州百瑞吉生物医药股份有限公司 是一家主要从事生物医用材料等产品研发、生产和销售的高新技术企业，同时少量从事含透明 质酸功能性衍生物的功效护肤品的生产及销售业务。公司控股股东及实际控制人为舒晓正，其合计控制公司 32.36% 的股份对应的 表决权。报告期内，公司营业收入分别为 15,073.99 万元、19,817.83 万元、23,122.72 万元和 14,146.25 万元，扣非归母净利润分别 为 2,731.51 万元、4,511.50 万元、5,369.42 万元和 4,129.24 万元。 一、基本信息 公司是一家主要从事生物医用材料等产品研发、生产和销售的高新技术企业，致力于通过自主创新打造技术领先的生物模拟组织 ...

Core Viewpoint - Chengdu enterprises are actively engaging in the capital market, with several companies from the semiconductor and biopharmaceutical sectors initiating IPO processes, indicating the city's growth vitality and potential in these industries [1][2]. Semiconductor Sector - The semiconductor industry in Chengdu is experiencing significant growth, with companies like Chengdu Super Pure Materials Co., Ltd. and Chengdu Starway Microelectronics Co., Ltd. leading the charge in IPO applications [3][4]. - Chengdu Super Pure Materials aims to raise 1.12468 billion yuan through its IPO, focusing on precision components for semiconductor manufacturing and optical fields, holding a 5.7% market share in mainland China [4][6]. - Chengdu Starway Microelectronics, founded in 2019, has initiated its A-share IPO process and has secured over 230 invention patents, emphasizing its strong R&D capabilities [6][8]. Biopharmaceutical Sector - Chengdu has a well-established biopharmaceutical industry, transitioning from generic drugs to innovative drug development, with companies like Zeling Biopharmaceutical Technology Co., Ltd. and Olin Bio leading recent IPO efforts [9][10]. - Zeling Biopharmaceutical completed a 600 million yuan Series C financing round and has submitted its IPO application to the Hong Kong Stock Exchange shortly after [10][13]. - Olin Bio, a veteran in the vaccine sector, has also applied for an H-share listing on the Hong Kong Stock Exchange, highlighting the ongoing growth in Chengdu's biopharmaceutical landscape [13]. Diverse Industry Growth - Chengdu is witnessing a surge in various sectors, with many companies characterized as "specialized, refined, and innovative" preparing for IPOs [14][18]. - Companies like Sentai Precision Tools Co., Ltd. and Hongming Electronics Co., Ltd. are making strides in their respective fields, with Sentai completing IPO counseling for the Beijing Stock Exchange and Hongming successfully passing the IPO review for the Shenzhen Stock Exchange [15][17]. - The "Rongyi Shang" system in Chengdu is facilitating a supportive environment for IPOs, with over 700 potential listing companies and 2,900 high-growth enterprises being nurtured [18].

Core Viewpoint - The Shandong Provincial Government has introduced a series of reform measures aimed at enhancing the regulatory framework for pharmaceuticals and medical devices, promoting high-quality development in the pharmaceutical industry [3][4]. Group 1: Reform Measures - The implementation opinions focus on addressing the challenges in the pharmaceutical industry by introducing breakthrough reform measures that stimulate innovation throughout the entire industry chain [4]. - A "one-stop" innovation service network will be established, covering provincial, municipal, and county levels, to accelerate the review and approval process for innovative drugs and medical devices [4]. - The regulatory mechanism will be optimized by integrating registration checks, production licensing, and quality management inspections to minimize disruptions to normal production [4]. Group 2: Industry Growth - The initiative emphasizes fostering new growth drivers in the industry by focusing on cutting-edge innovations such as gene and cell therapy, AI in pharmaceuticals, and high-end medical devices [4]. - Support will be provided for the development of traditional Chinese medicine (TCM) aimed at treating major diseases, including the establishment of a platform for the transformation of TCM into new drugs [4]. - The "Medical Device Spring Rain Action" will be launched to support the transformation of medical device innovations, particularly in areas like surgical robots and biomaterials [4]. Group 3: Clinical Transformation - The reform will enhance collaboration among various departments, creating a seamless connection between clinical trials, clinical use, and insurance coverage [5]. - Clinical trial processes will be optimized, encouraging qualified medical institutions to undertake trial projects and establishing incentive mechanisms [5]. - A green channel mechanism will be implemented for innovative drugs and medical devices, ensuring timely access for healthcare institutions to new products [5]. Group 4: Safety and Regulation - The initiative emphasizes strict regulatory measures to ensure safety in drug development and usage, adhering to the "four strictest" requirements [6]. - A smart regulatory platform utilizing big data and AI will be developed to ensure traceability throughout the supply chain [6]. - There will be a focus on enhancing risk monitoring and emergency response capabilities, alongside strict enforcement against illegal activities [6].

Core Viewpoint - Six companies are scheduled for IPO meetings this week, with a total fundraising amount of approximately 65.70 billion yuan, highlighting a diverse range of industries and regional representation in the Chinese market [1]. Group 1: Upcoming IPOs - Six companies will have their IPO matters discussed from January 19 to January 23, with the highest fundraising target set by Huikang Technology at 1.797 billion yuan [1]. - The companies include Huikang Technology (Shenzhen Main Board), Aiteke (Shanghai Main Board), Liqi Intelligent (ChiNext), and three companies (Toptek, Mifutech, and Bairuiji) aiming for the Beijing Stock Exchange [1][2][4][5]. Group 2: Fundraising Amounts - Huikang Technology plans to raise 1.797 billion yuan for projects including the construction of an intelligent manufacturing base for refrigeration equipment and a research and development center [1]. - Aiteke and Liqi Intelligent are also significant players, with planned fundraising amounts of 1.500 billion yuan and 1.008 billion yuan, respectively [1][2]. Group 3: Company Profiles - Huikang Technology focuses on the research, production, and sales of refrigeration equipment [3]. - Aiteke specializes in the research, production, and sales of automotive electronic products [2]. - Liqi Intelligent is dedicated to automated material handling solutions, including systems for material mixing and emulsification [4]. - Bairuiji develops and sells biomedical materials, while Mifutech focuses on automotive fluid systems and components [5]. - Toptek is involved in the development and production of intelligent controllers and products for various sectors, including consumer electronics and industrial automation [5].

IPO and Financing Overview - A total of 6 companies are scheduled for IPO review next week (January 19-23), aiming to raise a combined total of 4.884 billion yuan [1][2]. Company Summaries Atech - Atech is a leading provider of automotive electronic intelligent solutions, focusing on the development, production, and sales of automotive electronic products across various domains [7][8]. - The company plans to issue up to 44,772,665 shares, with a total capital raised not exceeding 150 million yuan [10]. Lichi Intelligent - Lichi Intelligent specializes in automated material handling systems, providing comprehensive solutions for industries such as lithium battery manufacturing and fine chemicals [11][12]. - The company aims to issue between 40,762,223 and 45,857,500 shares, depending on the exercise of the over-allotment option [12]. Baierji - Baierji focuses on the research, production, and sales of biomedical materials, aiming to provide safe and effective products for medical applications [17][18]. - The company plans to issue up to 9.2072 million shares, with a total capital raised not exceeding 10.5931 million yuan [19][21]. Huikang Technology - Huikang Technology is engaged in the research, production, and sales of refrigeration equipment, including ice machines and refrigerators, primarily serving both consumer and commercial markets [23][24]. - The company plans to issue up to 37,087,858 shares, with a total capital raised not exceeding 45.11357 million yuan [24][25]. Mifutech - Mifutech specializes in the development and production of key components for automotive fluid systems and other plastic parts, applicable in both traditional and new energy vehicles [27][28]. - The company plans to issue 19,532,984 shares, with a total capital raised not exceeding 22,462,931 yuan [29][30]. Toptech - Toptech focuses on the research, production, and sales of intelligent controllers and products, serving various sectors including consumer electronics and industrial automation [32][33]. - The company plans to issue up to 11,558,970 shares, with a total capital raised not exceeding 13,292,816 yuan [33][35].

Core Viewpoint - Eight companies are set to present their IPO applications, with significant fundraising plans, particularly from Tianhai Electronics, which aims to raise 2.46 billion yuan for various automotive-related projects [1]. Group 1: Upcoming IPOs - Eight companies are scheduled for IPO meetings, including Huikang Technology and Tianhai Electronics for the Shenzhen Main Board, Aiteke for the Shanghai Main Board, and Lichi Intelligent for the ChiNext [1]. - The companies planning to list on the Beijing Stock Exchange include Mifutech and Baierji, among others [1]. Group 2: Fundraising Amounts - Tianhai Electronics plans to raise the highest amount at 2.46 billion yuan, targeting projects related to automotive connectors and electronic production [1]. - Huikang Technology and Aiteke are also notable, with planned fundraising amounts of 1.797 billion yuan and 1.5 billion yuan, respectively [1]. Group 3: Company Profiles - Tianhai Electronics specializes in automotive components, including wiring harnesses and electronic products [3]. - Aiteke focuses on the research, production, and sales of automotive electronic products [4]. - Huikang Technology is centered on the research and production of refrigeration equipment [5]. - Lichi Intelligent provides automated material handling solutions [6]. - Zhongke Instrumentation develops vacuum application equipment and related technologies [7]. - Xingsheng Technology is involved in the production of computer embroidery machines [8]. - Baierji specializes in biomedical materials [9]. - Mifutech focuses on automotive fluid systems and related plastic components [9].