（原标题：新股消息 | 艾米森拟港股上市 中国证监会要求补充说明股权变动等事项） 智通财经APP获悉，11月14日，中国证监会公布《境外发行上市备案补充材料要求(2025年11月10日— 2025年11月14日)》。中国证监会国际司公示10家企业补充材料要求，其中，公示提到要求艾米森补充 说明股权变动、股东情况、业务经营等事项。据港交所9月28日披露，武汉艾米森生命科技股份有限公 司(简称：艾米森)向港交所主板提交上市申请书，联席保荐人为建银国际、交银国际。 二、关于股东情况：(1)请说明最近12个月内新增股东入股价格的合理性，该等入股价格之间存在差异 的原因，并就是否存在利益输送出具明确结论性意见；(2)请说明你公司持股5%以上股东广州凯普、苏 州金阖向上穿透后的境内主体是否存在法律法规规定禁止持股的主体；(3)请说明高科医械相关国有股 东标识管理部门的确定依据；(4)请说明你公司的股东人数、计算方式及具体依据。 三、关于业务经营：(1)请说明你公司及下属公司经营范围包含医学研究和试验发展、细胞技术研发和 应用、人体基因诊断与治疗技术开发、互联网信息服务的具体情况，是否实际开展相关业务及具体运营 情况，是否 ...

一、关于股权变动：(1)请说明你公司历次增资及股权转让定价依据，是否实缴出资，是否存在未履行 出资义务、抽逃出资、出资方式存在瑕疵的情形；(2)2016年6月你公司两名股东将所持股份全部或部分 以0元转让，由此你公司控制权发生变更。请说明上述0元转让的原因，是否存在股份代持情形。如果存 在，请按照《监管规则适用指引——境外发行上市类第2号》要求进行核查；(3)你公司历史沿革中曾存 在股权代持，请按照《监管规则适用指引——境外发行上市类第2号》要求进行核查。 11月14日，中国证监会公布《境外发行上市备案补充材料要求(2025年11月10日—2025年11月14日)》。 中国证监会国际司公示10家企业补充材料要求，其中，公示提到要求艾米森补充说明股权变动、股东情 况、业务经营等事项。据港交所9月28日披露，武汉艾米森生命科技股份有限公司(简称：艾米森)向港 交所主板提交上市申请书，联席保荐人为建银国际、交银国际。 中国证监会请艾米森补充说明以下事项，请律师核查并出具明确的法律意见： 二、关于股东情况：(1)请说明最近12个月内新增股东入股价格的合理性，该等入股价格之间存在差异 的原因，并就是否存在利益输送出具明 ...

Core Viewpoint - Wuhan Aimesen Life Science Technology Co., Ltd. has submitted its prospectus to the Hong Kong Stock Exchange, aiming to become a leader in early cancer screening, but faces significant challenges including low revenue, high losses, and reliance on related party transactions [1][2][3]. Financial Performance - Aimesen's revenue for 2023, 2024, and the first half of 2025 was 6.233 million, 7.238 million, and 6.513 million yuan respectively, with a year-on-year growth of 103% in the first half of 2025, yet overall revenue remains below 10 million yuan [1][2]. - The company reported net losses of 67.922 million, 38.63 million, and 13.906 million yuan for the same periods, with a high operating loss rate of 328.7% in 2024 [2]. - Aimesen has reduced its operating expenses, with total expenses decreasing by 36.42% in 2024 compared to 2023, and further declining by 38.63% in the first half of 2025 compared to the same period in 2024 [2]. Customer Structure - The largest customer, Wuhan Aino Medical Laboratory, accounted for 44.5% and 52.1% of Aimesen's total revenue in 2023 and 2024, respectively, raising concerns about revenue sustainability due to high reliance on related party transactions [2][3]. - The second-largest customer, Cap Bio, contributed 8.9% and 9.3% of revenue in 2023 and 2024, respectively, indicating that over 60% of Aimesen's revenue comes from related parties or shareholders [3]. Product Development and Market Challenges - Aimesen has over 20 cancer screening products, with five approved as Class III medical devices, but these products are primarily for symptomatic patients rather than healthy individuals [4][6]. - New regulatory standards for cancer screening products require evidence of benefits in reducing cancer mortality and multi-center clinical trials, which Aimesen currently lacks [6]. - The market penetration for liver cancer screening in China is only 0.7%, and for urinary tract cancer screening, it is as low as 0.5%, indicating a significant challenge in consumer acceptance and willingness to pay for early screening [6]. Industry Context - The early cancer screening industry is characterized by high investment and slow returns, with market acceptance being a critical factor for development [6]. - The recent financial scandal involving Nohui Health, a leading company in the early screening sector, has damaged industry credibility and may lead to stricter scrutiny from capital markets [7].

Core Viewpoint - Wuhan Aimesen Life Science Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, aiming to explore new capital pathways after several rounds of financing [1] Group 1: Company Background and Financing - Aimesen, founded in 2015 by PhD Zhang Lianglu, specializes in cancer early screening and has completed five rounds of financing over the past decade [2][3] - The company received significant support from local state-owned enterprises and listed company CapBio, which has become a crucial investor [2] - Initial funding included a 200,000 yuan award from a startup competition, which helped Aimesen transition from laboratory to clinical trial stages [2] Group 2: Investment and Valuation Growth - CapBio invested 14 million yuan in Aimesen in 2018, increasing its shareholding to 21.87%, making it the largest shareholder outside of the founder [3] - Aimesen's valuation has seen significant growth, jumping from approximately 170 million yuan in 2016 to 1.8 billion yuan in 2020, and reaching 1.2 billion yuan in 2022 [3][5] Group 3: Product Development and Market Position - Aimesen has developed over 20 cancer early screening products, with five receiving approval from the Chinese drug regulatory authority and seven obtaining CE certification [6] - Key products include the "Aichangkang" colorectal cancer test kit and "Aixinan" for liver cancer, which demonstrate high sensitivity and specificity [6] - Despite technological advancements, Aimesen's revenue remains low, with 2023 revenue at 623,000 yuan and net losses significantly higher than revenue [7] Group 4: Market Challenges and Future Plans - The cancer early screening market is highly competitive, with several established players, and Aimesen's reliance on a single customer for over 52% of sales indicates a need for broader market penetration [7] - The IPO aims to raise funds for the development and commercialization of core products and to diversify the product portfolio through potential acquisitions or licensing [7]

Core Viewpoint - Aiming to provide early cancer screening services, Wuhan Aimesen Life Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, highlighting its innovative cancer detection products and significant market potential in China [1][2]. Company Overview - Founded in 2015, Aimesen specializes in early cancer detection, with a mission to become a "munitions depot" for tumor screening [1]. - The company has developed two core products: Aixin Gan for liver cancer and Aiguang Le for urinary tract cancer, utilizing advanced technologies for non-invasive testing [2]. Product Details - Aixin Gan is the world's first liver cancer detection reagent based on methylation and qPCR technology, achieving a sensitivity of 84.43% for stage I liver cancer [2]. - Aiguang Le allows for non-invasive detection of urinary tract cancer using just 1 milliliter of urine, enhancing efficiency and convenience [2]. - Aimesen has launched over 20 early screening products covering various cancers, including colorectal, liver, esophageal, and gastric cancers [4]. Market Context - In China, digestive system cancers account for 50% of cancer-related deaths, with colorectal cancer alone having 560,000 new cases annually and an early diagnosis rate below 20% [2]. - The early screening market for cancer in China is projected to grow from $18.4 billion in 2019 to $28.9 billion by 2030, with a compound annual growth rate of 4.2% [5]. Financial Performance - Aimesen reported revenues of 6.23 million yuan, 7.24 million yuan, and 6.51 million yuan for the first half of 2023, 2024, and 2025, respectively, with net losses of 67.92 million yuan, 38.63 million yuan, and 13.91 million yuan during the same periods [4]. - Research and development expenditures were 22.74 million yuan, 15 million yuan, and 4.52 million yuan for the same periods, while sales expenses were 25.17 million yuan, 15.10 million yuan, and 6.39 million yuan [4]. Customer Base - Aimesen's primary customers include testing laboratories, with the top three clients in 2024 being Wuhan Aino Medical Laboratory, KingMed Diagnostics, and Guangdong Capbio, contributing 52.1%, 9.3%, and 5.2% to total sales, respectively [5].

Core Viewpoint - Aimesen Life Science Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, focusing on early cancer detection and molecular testing, despite reporting significant net losses in recent years [1][2]. Group 1: Financial Performance - In 2023, 2024, and the first half of 2025, the company reported net profits of -67.92 million, -38.63 million, and -13.91 million respectively [2][4]. - The company's revenue for the same periods was 6.233 million, 7.238 million, and 6.513 million respectively [2][4]. - Revenue from the top five customers accounted for 69.3%, 73.2%, and 76.7% of total revenue in 2023, 2024, and the first half of 2025 [4]. Group 2: Market Focus and Product Development - Aimesen Life is focused on the tumor molecular testing market, which is still in its early stages in China, with low penetration rates [2]. - The company plans to use the funds raised from the IPO for the research, registration, and commercialization of its core products, as well as to enhance its R&D capabilities and production automation [3]. - The company received Class III medical device registration approval for its product Aixin Gan in January 2025, which contributed 33.7% of total revenue in the first half of 2025 [5]. Group 3: Customer Dependency - The company relies heavily on a limited number of customers, with the largest customer contributing 44.5%, 52.1%, and 23.8% of total revenue in the respective years [4]. - Future revenue is highly dependent on the commercialization and sales success of Aixin Gan and other candidate products [4].

Core Insights - Wuhan Aimesen Life Science Technology Co., Ltd. is an early-stage cancer detection company established in 2015, focusing on non-invasive testing for liver and urinary tract cancers [1][2] - The company has reported revenues of 6.23 million, 7.24 million, and 6.51 million CNY for the years 2023, 2024, and the first half of 2025, respectively, while incurring net losses of 67.92 million, 38.63 million, and 13.91 million CNY during the same periods [1] - Research and development (R&D) expenses have consistently exceeded revenues, with R&D costs of 22.74 million, 15 million, and 4.52 million CNY for the years 2023, 2024, and the first half of 2025, respectively [1] Company Overview - Wuhan Aimesen has two core products: Aixin Gan for liver cancer and Aiguang Le for urinary tract cancer, with additional products in development for colorectal and esophageal cancers [1] - The company employs 82 staff members as of June 30, 2023, and primarily utilizes a direct sales model, which accounted for 69%, 71%, and 57% of total revenue in 2023, 2024, and the first half of 2025, respectively [2] Customer Concentration - The company has a high customer concentration, with sales to the top five customers accounting for nearly 70% of total sales in 2023. In 2024, the top three customers were Wuhan Aino Medical Laboratory, Jinyu Medical, and Guangdong Kaipu Biological, contributing 52.1%, 9.3%, and 5.2% to total sales, respectively [2]

Core Viewpoint - Aimeson has submitted a listing application to the Hong Kong Stock Exchange, with joint sponsors being CCB International and Bank of Communications International [1] Company Summary - Aimeson is a leading early cancer detection company focused on high incidence and high mortality cancers, having developed a methylation-based early cancer detection technology [1] - The company's core products include Aixin Gan for liver cancer and Aiguang Le for urinary tract cancer, with Aixin Gan being the world's first liver cancer detection reagent based on methylation and qPCR technology, achieving a sensitivity of 84.43% for stage I liver cancer [1] - Aiguang Le allows for non-invasive detection of urinary tract cancer using just 1 milliliter of urine, enhancing efficiency and convenience [1] - Aimeson has a comprehensive early cancer detection platform covering multiple cancers, including colorectal, liver, esophageal, urinary tract, gastric, lung, and gynecological cancers, and is developing several combination detection reagents [1] Industry Summary - The Chinese tumor molecular testing market is rapidly growing, with an expected market size of 38.8 billion RMB by 2033 [1] - Aimeson employs cost-effective qPCR technology combined with proprietary iTBFinder platform, AS-Cap technology, and SEM-PCR technology to enhance detection capabilities [1] - The company is developing an automated sample processing workstation, AMStation, to support large-scale testing [1]

Core Insights - The article highlights the emergence of Amyson as a leading early cancer detection company focusing on high-incidence and high-mortality cancers, with innovative methylation-based detection technologies [2][3]. Company Overview - Amyson has developed two core products: Aixin Gan for liver cancer and Aiguang Le for urinary tract cancer, utilizing advanced qPCR technology for high sensitivity and specificity in detection [2]. - Aixin Gan achieves a sensitivity of 92.33% and specificity of 93.35%, with a sensitivity of 84.43% for stage I patients [2]. - Aiguang Le offers a non-invasive detection method using just 1 milliliter of urine, significantly improving efficiency compared to traditional methods [2]. Market Potential - The Chinese tumor molecular testing market is rapidly growing, with liver cancer incidence ranked fourth and cancer-related mortality second in 2024 [3]. - The market size has increased from RMB 4.3 billion in 2019 to RMB 8.7 billion in 2024, with a compound annual growth rate (CAGR) of 15.2%, projected to reach RMB 38.8 billion by 2033 with a CAGR of 18.1% from 2024 to 2033 [3]. Product Development Strategy - Amyson is developing a comprehensive early cancer detection platform with a diverse product pipeline targeting major cancer types, including colorectal, liver, and esophageal cancers, as well as expanding into urinary tract, gastric, lung, and gynecological cancers [4]. - The company is also working on multi-cancer detection assays, including tests for five digestive system cancers, six common cancers, and twelve cancers, leveraging proprietary technologies to enhance detection capabilities [4]. Technological and Operational Advantages - The company benefits from a robust commercialization infrastructure and a wide distribution network, covering medical testing labs and private health check centers [5]. - To address large-scale application challenges, Amyson is developing the AMStation, an automated sample processing workstation capable of handling up to 60 fecal samples in about three hours, expected to complete compliance testing by early 2026 [5]. Financial Performance - For the fiscal years ending June 30, 2023, 2024, and 2025, Amyson reported revenues of RMB 6.233 million, RMB 7.238 million, and RMB 6.513 million, respectively, with significant annual losses of RMB 67.922 million, RMB 38.630 million, and RMB 23.306 million [5][9].

Core Viewpoint - Wuhan Aimesen Life Science Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, focusing on early cancer detection technologies and addressing unmet clinical needs in China [1][3]. Company Overview - Aimesen is a leading early cancer detection company that has developed methylation-based early cancer detection technologies, with two core products: Aixin Gan for liver cancer and Aiguang Le for urinary tract cancer [3][4]. - Aixin Gan is the world's first liver cancer detection reagent based on methylation technology, achieving a sensitivity of 92.33% and specificity of 93.35%, with a sensitivity of 84.43% for stage I patients [3][4]. - Aiguang Le allows non-invasive detection of urinary tract cancer using just 1 milliliter of urine, significantly improving efficiency and convenience compared to traditional methods [3][4]. Market Opportunity - The company is targeting the rapidly growing tumor molecular testing market in China, which is expected to grow from RMB 4.3 billion in 2019 to RMB 8.7 billion by 2024, with a compound annual growth rate (CAGR) of 15.2% [4]. - The market is projected to reach RMB 38.8 billion by 2033, with a CAGR of 18.1% from 2024 to 2033 [4]. Product Development and Innovation - Aimesen has developed a comprehensive early cancer detection platform with a rich product pipeline covering major cancer types, including colorectal, liver, and esophageal cancers, and is expanding into other areas such as gastric, lung, and gynecological cancers [5]. - The company is utilizing cost-effective qPCR technology supported by its proprietary iTBFinder platform, enhancing detection capabilities through innovative techniques [5]. - Aimesen is also developing the AMStation, an automated sample processing workstation, to streamline operations and support large-scale testing [6]. Financial Performance - For the fiscal years ending June 30, 2023, 2024, and 2025, Aimesen reported revenues of RMB 6.233 million, RMB 7.238 million, and RMB 6.513 million, respectively, with significant operating losses [6][10]. - The company incurred operating losses of RMB 49.305 million, RMB 23.788 million, and RMB 6.199 million for the same periods, indicating a challenging financial landscape [10].