Core Viewpoint - The article discusses the upcoming IPO of Shenzhen Beixin Life Technology Co., Ltd. on the Sci-Tech Innovation Board, highlighting the acceleration of the review process for companies using the fifth set of listing standards, particularly in the pharmaceutical sector [1][6]. Group 1: Company Overview - Beixin Life focuses on innovative medical devices for precise diagnosis and treatment of cardiovascular diseases and is recognized as a national high-tech enterprise [3]. - The company has faced continuous net losses during the reporting period, with revenues of approximately 92.45 million yuan, 184 million yuan, and 317 million yuan for the years 2022 to 2024, respectively, and corresponding net losses of about -290 million yuan, -140 million yuan, and -43.596 million yuan, showing a trend of reduced losses [3]. Group 2: IPO Progress and Financials - Beixin Life's IPO was accepted on March 30, 2023, and it entered the inquiry stage on April 24, 2023, but faced delays due to tightened IPO reviews until the recent resumption of the fifth set of standards [3][5]. - The company plans to raise 9.52 billion yuan through its IPO, which is the lowest among the five companies currently queuing for the fifth set of standards, with funds allocated for the construction of a medical device industrialization base, R&D projects, marketing network development, and working capital [7]. Group 3: Industry Context - There are currently five pharmaceutical companies, including Beixin Life, queuing for IPOs under the fifth set of standards, reflecting a supportive regulatory environment for innovative pharmaceutical enterprises [5][6]. - The fifth set of listing standards aims to provide financing opportunities for companies with advanced technology and research capabilities, particularly those in critical development phases or with breakthrough technologies in medical devices [8][9].

Core Viewpoint - Shenzhen Beixin Life Technology Co., Ltd. (Beixin Life) is set to undergo its IPO review on July 18, marking it as the second pharmaceutical company to utilize the fifth set of standards for listing on the Sci-Tech Innovation Board [1][3] Group 1: Company Overview - Beixin Life focuses on the research, development, production, and sales of innovative medical devices for precise diagnosis and treatment of cardiovascular diseases [3] - The company is recognized as a national high-tech enterprise and aims to provide transformative solutions for cardiovascular disease treatment [3] Group 2: IPO Progress - Beixin Life's IPO journey began with acceptance on March 30, 2023, followed by an inquiry phase starting on April 24, 2023 [3] - The IPO process faced a halt due to tightened review standards but resumed after the China Securities Regulatory Commission announced the restart of the fifth set of standards [3][10] - The company disclosed its second round of inquiry responses on July 8, 2023, and received the opportunity for the IPO review on July 11, 2023 [3] Group 3: Financial Performance - Beixin Life reported continuous net losses during the reporting period, with revenues of approximately 92.45 million yuan, 184 million yuan, and 317 million yuan for the years 2022, 2023, and 2024 respectively [3] - Corresponding net losses were approximately -290 million yuan, -140 million yuan, and -43.6 million yuan, showing a trend of reduced losses year over year [3] Group 4: Market Context - There are currently five pharmaceutical companies, including Beixin Life, queuing for IPOs under the fifth set of standards on the Sci-Tech Innovation Board [5] - He Yuan Bio is noted as the first company to pass the review under the restarted fifth set of standards, with others like Si Zhe Rui and Bi Bei Te also in the registration phase [6][10] - The fifth set of standards aims to support innovative pharmaceutical companies that are not yet profitable but possess core technologies and market potential [10]