Jianfa Zhixin Seeks 4.8424 Billion Yuan IPO on ChiNext Board

Shanghai-based Jianfa Zhixin Medical Technology Group Co., Ltd. has submitted an application for an initial public offering (IPO) on the ChiNext board of the Shenzhen Stock Exchange. The company, which specializes in direct sales and distribution of medical devices, aims to raise 4.8424 billion yuan through the IPO. The application was accepted by the Shenzhen Stock Exchange on June 29, 2022, and entered the review process on July 15, 2022. The company's innovative management model and comprehensive service offerings position it as a key player in the medical device distribution industry.

Jianfa Zhixin's business model is centered around providing comprehensive management services to the medical device industry, covering various aspects such as channel access, warehousing, logistics, distribution management, circulation information, and financial settlements. The company has established a nationwide integrated medical device circulation hub, offering services to both upstream and downstream players in the industry. In addition to its core distribution business, Jianfa Zhixin also provides centralized operational services for medical consumables, known as SPD services, to end-user hospitals. This service helps hospitals optimize their inventory management and reduce operational costs.

Jianfa Zhixin's direct sales business serves over 3,300 terminal medical institutions across 31 provinces, municipalities, and autonomous regions, providing more than 10,000 different specifications and models of direct sales services. In its distribution business, the company has built a nationwide distribution network, focusing on high-value intervention products. Its key suppliers include prominent domestic and international enterprises such as MicroPort Scientific Corporation, Medtronic, Terumo, and Reach Medical. As of the end of the reporting period, Jianfa Zhixin had established and maintained long-term, stable cooperative relationships with over 100 renowned domestic and international high-value medical device manufacturers.

Jianfa Zhixin's financial performance has been robust, with revenue growing from 118.82 billion yuan in 2022 to 154.43 billion yuan in 2023, and further to 179.23 billion yuan in 2024. The company's net profit also increased from 1.89 billion yuan in 2022 to 2.27 billion yuan in 2023, and to 2.74 billion yuan in 2024. The successful completion of the IPO is expected to further enhance Jianfa Zhixin's market presence and competitive position in the medical device distribution industry.