Two Enterprises of Medical Device Will Be Listed on the Sci-tech Innovation Board

  • 2019-07-05
On the same day, China Securities Regulatory Commission (CSRC) announced that two enterprises of medical device have passed the first approval of sci-tech innovation board! In other words, two listed companies of medical device will appear on sci-tech innovation board for the first time!

The official microblog of CSRC issued CSRC Approved the IPO Registration of Sci-tech Innovation Board last night (July 2), including Micro-Tech (Nanjing) Co., Ltd., Shanghai MicroPort Endovascular MedTech Co., Ltd., and ArcSoft Corporation Limited. They and their consignees shall determine the schedule of release with Shanghai Stock Exchange respectively and publish prospectus.
It only takes three months for two enterprises to have their application for sci-tech innovation board accepted and be approved for listing!

Endovastec: Domestic Leading Enterprise in Aorta Intervention

Shanghai MicroPort Endovascular MedTech Co., Ltd. (“Endovastec™”), which is a subsidiary of MicroPort Scientific Corporation (“MicroPort®”), is committed to the development, manufacturing, and sales of aortic and peripheral vascular intervention devices, and products in the market include aortic stent graft, peripheral vascular stent, peripheral vascular balloon dilatation catheter, and stent in surgical operation, etc.

According to Frost & Sullivan, based on the operation volume of products, Endovastec ranked the second in the market shares of aortic intervention devices in 2018, only next to the foreign-owned enterprise Medtronic, and ranked the first among domestic enterprises.
Its core products in aortic intervention are in quick rise. Data shows that, its operation revenue were CNY 125 million, 165 million and 231 million respectively from 2016 to 2018, with an annual average compound growth rate of over 35%, while the net profit attributable to owners were CNY 41 million, 63 million and 91 million respectively, with an annual average compound growth rate of over 48%. The products of aortic stent graft contributed to most of the operation revenues at CNY 189 million in 2018, with year-on-year growth of 44%.

Research report of Minsheng Securities believes that the core competitiveness of Endovastec mainly focused on the leading research and development ability and product innovation ability, as well as the deep coverage of the marketing network. By the end of 2018, the Company had 74 research personnel, accounting for 26.06% of the total number of employees. The Company took the lead in developing products of aortic interventional medical equipment with completely independent intellectual property rights and the international advanced level. The Company has successfully developed the intraoperative stent system of the first covered stent of domestic aorta abdominalis and the only approved listing in China that can be used in surgery of thoracic aortic dissection.;

Micro-tech: the Operation Changed from Loss to Make Benefits of CNY 170 Million within Three Years

The Company mainly engages in the research and development, manufacturing and sales of minimally invasive medical equipment. Currently, there are three technology platforms, namely endoscopic diagnosis and treatment, tumor ablation, and optical coherence tomography imaging (OCT). And the main products include two series of diagnosis and treatment equipment of endoscopic minimally invasive and tumor ablation equipment.

The compound growth rate of annual average of sale of the Company was up to 49.19% from 2016 to 2018, and the growth rate was far higher than the industry level. In order to maintain continuous growth, the newly developed endoscopic optical coherence tomography (EOCT) system had been approved by the Food and Drug Administration (FDA). In China, the product had entered the green channel for the approval of innovative medical equipment by the National Medical Products Administration.

In addition, the endoscopic minimally-invasive diagnosis and treatment equipment, including the 125I stent technology of radiotherapy granule, was rated as the initiate equipment in the world, and the anastomosis stent and electrical implantation system of ultrasound endoscope were rated as the initiate equipment in the world.