Core Viewpoint - The article discusses the listing application of Shenzhen Maikedian Biomedical Technology Co., Ltd. on the Hong Kong Stock Exchange, highlighting its significance in expanding market and research capabilities [1][2]. Company Overview - Maikedian is a global provider of medical solutions, offering a comprehensive product portfolio that meets clinical needs across various healthcare settings. The company has commercialized over 50 life support products, 80 minimally invasive products, and 210 in vitro diagnostic products, with a presence in over 140 countries and regions [4]. Financial Performance - The company has faced losses in recent years, with reported revenues of approximately RMB 917 million, RMB 1.313 billion, RMB 1.399 billion, and RMB 787 million for the six months ending June 30 in 2022, 2023, 2024, and 2025 respectively. The corresponding losses were RMB 226.16 million, RMB 64.51 million, RMB 96.62 million, and RMB 40.97 million [5][7]. Product Segments - In the life support segment, Maikedian has developed innovative products, achieving the top sales ranking in China for infusion workstations from 2018 to 2024 and for enteral nutrition pumps from 2021 to 2024 [6]. - The minimally invasive segment has shown growth, with sales increasing from RMB 38.6 million in 2022 to RMB 58.65 million in 2023, and further to RMB 72.13 million in 2024. The company attributes this growth to an expanded customer base and increased sales volume [8]. - In vitro diagnostic revenue rose from RMB 11.55 million in 2022 to RMB 16.26 million in 2023, and then to RMB 18.4 million in 2024, driven by an expanding product portfolio and market coverage [9].

Core Viewpoint - Shenzhen Micotian Biomedical Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with Morgan Stanley and Huatai International as joint sponsors. The company reported a loss of approximately RMB 40.968 million in the first half of this year [1]. Group 1: Company Overview - Micotian is a global provider of medical solutions, offering a comprehensive product portfolio that meets clinical needs across various healthcare settings, including hospitals, clinics, and home care [3]. - As of June 30, 2025, Micotian has commercialized over 50 life support products, 80 minimally invasive intervention products, and 210 in vitro diagnostic products, with its products available in over 140 countries and regions globally [3][4]. Group 2: Product Categories - In life support, Micotian has developed innovative products, including the world's first remote infusion control system and China's first independently developed multi-channel infusion workstation. The company ranks first in the infusion workstation market in China by sales from 2018 to 2024 [3]. - In minimally invasive intervention, Micotian is one of the few domestic brands in China with a full range of endoscopic proprietary products, ranking second in the digestive system minimally invasive intervention consumables market from 2022 to 2024 [4]. - In vitro diagnostics, Micotian launched the world's first fully automated thromboelastography analyzer in 2021 and ranks first in the market by sales from 2021 to 2024 [4]. Group 3: Financial Performance - For the fiscal years 2022, 2023, and 2024, Micotian's revenues were approximately RMB 917.369 million, RMB 1.313 billion, and RMB 1.399 billion, respectively. The company reported losses of approximately RMB 226.161 million, RMB 64.508 million, and RMB 96.617 million for the same periods [5][6]. - For the six months ending June 30, 2025, the revenue was approximately RMB 786.567 million, with a loss of RMB 40.968 million [5][6].