Core Insights - The article highlights the approval of seven innovative medical devices by the NMPA, indicating a significant advancement in the domestic medical device industry in China [1]. Group 1: Innovative Medical Devices - The self-expanding intracranial drug-eluting stent system developed by Lilan Biotechnology (Suzhou) Co., Ltd. focuses on providing minimally invasive and safe treatment solutions for cerebrovascular diseases, leveraging advanced biomaterials technology [2]. - The implantable wireless brain-machine interface system from Shanghai Ladder Medical Technology Co., Ltd. is designed for applications in motor control, neurological disease monitoring, and sensory restoration, marking a significant innovation in the field [3][4]. - The X-ray computed tomography equipment from Siemens Medical Solutions (Shanghai) Co., Ltd. serves as a major global R&D and manufacturing center for medical imaging devices, contributing to precision medicine and digital diagnosis [5][6]. - The cartilage regeneration scaffold developed by Zhejiang Xingyue Biotechnology Co., Ltd. aims to repair large cartilage defects and represents a major innovation in regenerative medicine, filling a gap in domestic products [6]. - The collagen meniscus implant from Beijing Bansai Technology Co., Ltd. focuses on repairing meniscus injuries and aims to address knee instability issues post-meniscectomy, promoting clinical application of 3D printing technology in orthopedics [7]. - The thyroglobulin (Tg) gene mRNA detection kit developed by Shanghai Ruijing Biotechnology Co., Ltd. provides comprehensive solutions for thyroid cancer diagnosis and monitoring, serving numerous hospitals across multiple provinces [8]. - Guangzhou Weishi Bosheng Biotechnology Co., Ltd. specializes in minimally invasive ophthalmic devices, focusing on innovative products for glaucoma and retinal detachment treatment, emphasizing micro-invasiveness and biocompatibility [8].

Transaction Overview - The company Shenzhen Xinlitai Pharmaceutical Co., Ltd. is progressing with the acquisition of Butler Biotechnology (Shenzhen) Co., Ltd. through its subsidiary XinTai Medical, which currently holds 15.0925% of Butler's shares and has voting rights for an additional 46.3572% [1][2] - XinTai Medical plans to acquire 29.4946% of Butler's shares from Hongxinmin Biotechnology (Suzhou) Co., Ltd. for approximately RMB 12,977.6235 million, which will increase Butler's registered capital from RMB 1,496.8459 million to RMB 1,606.3711 million [2][3] Board Approval - The board of directors approved the acquisition and capital increase proposal with unanimous consent, indicating strong internal support for the transaction [3] Regulatory Compliance - The transaction does not require shareholder approval and is not classified as a major asset restructuring under relevant regulations, simplifying the approval process [3] Shareholding Structure - Post-transaction, XinTai Medical's shareholding in Butler will increase to 70%, while the company's stake in XinTai Medical will be diluted to 87.3639% [2][7] - The registered capital of XinTai Medical will rise from RMB 11,250 million to RMB 11,556.5265 million following the transaction [7][11] Financial Implications - The total investment for the acquisition and capital increase amounts to RMB 10,657.7128 million, representing 1.22% of the company's audited net assets for 2024, which is not expected to adversely affect the company's cash flow or operational capabilities [17] Strategic Objectives - The transaction aims to streamline the shareholding structure of subsidiaries, accelerate clinical progress at Butler, and promote long-term development in the medical device sector [10][17] - It is expected to enhance XinTai Medical's product offerings in the neuro-interventional field, particularly in treating ischemic and hemorrhagic strokes [11][17] Valuation and Pricing - The valuation of Butler's total equity was assessed at RMB 3.8 billion as of December 31, 2023, with the acquisition price reflecting this valuation [12][14] - The pricing for the share transfer and capital increase was based on a comprehensive evaluation of Butler's financial status and market conditions [14][16]