Core Insights - The article highlights the rapid growth and potential of the AI medical imaging sector, with Deshi Biotechnology Co., Ltd. (Deshi Bio) leading the field and preparing for an IPO in Hong Kong through the 18A process [1][11]. Company Overview - Deshi Bio was founded by Dr. Song Ning, who has a multidisciplinary background in computer science, life sciences, and clinical medicine, and has received significant recognition from the primary capital market [1][2]. - The company has undergone five rounds of financing since its establishment in 2016, achieving a valuation of 2.56 billion RMB [1][3]. Ownership Structure - Dr. Song holds over 50% of the voting rights, with a direct shareholding of 30.04% and control through various investment platforms [3][4]. - The company has seen dilution of shares due to external investments, but Dr. Song has strategically repurchased shares to maintain control [2][4]. Strategic Focus - Deshi Bio is divesting from low-margin businesses to concentrate on its core AI medical imaging operations, reflecting a commitment to high-value areas [5]. - The company has developed a comprehensive ecosystem for AI medical imaging, including innovative products like AutoVision® and MetaSight®, which have received multiple international certifications [7][8]. Market Potential - The AI medical imaging market in China is projected to grow at a compound annual growth rate (CAGR) of 60.2%, with the market size expected to reach 40.1 billion RMB by 2030 [6][7]. - Deshi Bio has achieved a 30.6% market share in the chromosome analysis system sector, positioning itself as a leading player in the industry [8]. Financial Performance - In 2024, Deshi Bio reported revenues of approximately 70.35 million RMB, a year-on-year increase of 33.1%, driven by the growth of its cloud service offerings [9][10]. - The company has improved its gross profit margin to 65.5%, indicating strong profitability potential within the medical device sector [9]. Future Plans - The funds raised from the IPO will be allocated to market promotion and further development of AI products, aiming to transition from an "AI tool provider" to a "full-modal medical AI infrastructure architect" [11][12].

Core Viewpoint - The article highlights the rapid growth and potential of the AI medical imaging sector, focusing on Deshi Biotechnology Co., Ltd. as a leading player preparing for an IPO in Hong Kong, with a valuation of 2.56 billion RMB after nine years of development and five rounds of financing [1][3]. Company Background - The founder, Dr. Song Ning, has a multidisciplinary background in computer science and clinical medicine, holding degrees from Central South University and Nagasaki University [2]. - Deshi Biotechnology was established in September 2016 with an initial registered capital of 1 million RMB, and has since attracted significant investment from various institutions [2][3]. Shareholding Structure - Dr. Song currently holds 30.04% of the shares directly and controls 52.06% of the voting rights through various platforms, despite facing dilution from external investments [3]. - The company has a notable shareholder list, primarily consisting of institutional investors, with a unique individual shareholder, Yang Xi, who was incentivized through a share transfer agreement [5]. Strategic Decisions - In 2020, Dr. Song repurchased shares from a previous investor to regain control, reflecting a commitment to protect the company's interests [3]. - The company plans to divest from low-margin businesses to focus on its core AI operations, indicating a strategic shift towards higher-value segments [6]. Market Potential - The AI medical imaging market in China is projected to grow at a compound annual growth rate (CAGR) of 60.2%, reaching 40.1 billion RMB by 2030 [7]. - Deshi Biotechnology has developed a comprehensive ecosystem for AI medical imaging, including innovative products like AutoVision® and MetaSight®, which have received multiple international certifications [7][9]. Financial Performance - In 2024, the company reported revenue of approximately 70.35 million RMB, a 33.1% increase year-on-year, driven by the growth of its cloud services [10]. - The gross profit margin for 2024 was 65.5%, indicating strong profitability relative to industry standards, with a significant reduction in net losses compared to the previous year [10]. Future Plans - The upcoming IPO aims to raise funds for marketing and further development of AI products, positioning the company as a leader in the global medical imaging AI landscape [12][13]. - Deshi Biotechnology is set to transition from being an "AI tool provider" to a "full-modal medical AI infrastructure architect," reflecting its ambition to lead in technological innovation and market expansion [13].