Core Viewpoint - The successful IPO of Shenzhen Beixin Life Technology Co., Ltd. marks the second company to pass the review under the newly restarted fifth set of standards for the Sci-Tech Innovation Board [1] Company Overview - Beixin Life focuses on innovative medical devices for precise diagnosis and treatment of cardiovascular diseases, aiming to revolutionize solutions in this field [3] - The company is recognized as a national high-tech enterprise and has developed China's first domestically innovative 60MHz high-definition IVUS product approved by the National Medical Products Administration [3][4] - Beixin Life is the first domestic medical device company to offer a combination of FFR and IVUS products, addressing the previously import-dependent market for coronary artery disease diagnosis in China [3][4] Product Development - Since its establishment, Beixin Life has launched 11 products and has 6 products under development, covering five major categories: IVUS systems, FFR systems, vascular access products, shockwave balloon therapy systems, and electrophysiological solutions [4][5] - The core IVUS system is noted for its high-definition, high-speed, and intelligent features, which facilitate precise PCI strategy formulation [4] - The FFR system is recognized as the gold standard for PCI treatment guidance and has received high-level recommendations from various domestic and international guidelines [4] Financial Performance - From 2022 to 2024, Beixin Life's projected revenues are 92.45 million yuan, 184 million yuan, and 317 million yuan, with net profits of -179 million yuan, -164 million yuan, and -6.29 million yuan respectively [5] - The company plans to raise 952 million yuan through its IPO to fund the construction of an interventional medical device industrialization base, R&D projects, and to supplement working capital [5] - Cumulatively, the company has invested over 389 million yuan in R&D from 2022 to 2024, accounting for over 65% of its total revenue during this period [5]