A-share subscription | Haisent Medical (920166.BJ) opened for subscription. The product is used in terminal clinical needs of anesthesia department, ICU ward, emergency department, etc.

On February 4th, Haisheng Medical (920166.BJ) started its IPO with an issue price of 12.64 RMB per share and a purchase limit of 508,200 shares. The P/E ratio is 13.99 times, and it is listed on the Beijing Stock Exchange. CITIC SEC is its sponsor. According to the prospectus, Haisheng Medical is a global provider of comprehensive anesthesia and monitoring medical devices. Its main business is the research and development, production, and sales of anesthesia and monitoring medical device products, which are widely used in anesthesia departments, ICU wards, emergency departments, and other clinical settings. At the end of the reporting period, the company had a total of 53 domestic medical device registration certificates and filing certificates, including 11 class III medical device registration certificates, 40 class II medical device registration certificates, and 2 class I medical device filing certificates. In addition, the company has obtained 2 U.S. FDA (510K) registrations and 12 products including disposable invasive blood pressure sensors and disposable pulse oximeter sensors have obtained CE certification from the European Union. Since its establishment, the company has adhered to a gradient innovation development model of "research and development of a generation, registration of a generation, production and sales of a generation." Haisheng Medical has established a sales network covering most provinces and cities in China, and its main products are widely used in over a thousand tertiary hospitals and thousands of medical institutions nationwide. It has been adopted by more than 600 tertiary hospitals, including well-known comprehensive hospitals such as Peking Union Medical College Hospital, Ruijin Hospital affiliated with Shanghai Jiao Tong University School of Medicine, The First Affiliated Hospital of Zhejiang University School of Medicine, and The First Affiliated Hospital of Sun Yat-sen University. In terms of the industry, according to data released by Frost & Sullivan, China's medical device market is developing more rapidly compared to the global market. From 2017 to 2024, the market size of China's medical device industry is expected to increase from 440.3 billion RMB to 1.15 trillion RMB, with a compound annual growth rate of 14.76%, far exceeding the global medical device market's compound growth rate of approximately 4.82%. Meanwhile, with the increasing support from the Chinese government for domestic medical devices and the continuous growth of per capita medical expenditure among residents, the domestic medical device market is expected to maintain a good growth momentum. It is projected that by 2025, the market size of China's medical device industry will increase to 1.24 trillion RMB, and by 2030, it will exceed 1.66 trillion RMB. Financially, in 2022, 2023, and 2024, the company's operating income is expected to be approximately 268 million RMB, 306 million RMB, and 304 million RMB respectively. The net profit during the same period is estimated to be approximately 70.11 million RMB, 78.03 million RMB, and 70.91 million RMB respectively.