7×24 2026-04-16
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Xinwei Medical submitted to Hong Kong IPO application, Fosun Pharma, SDIC joint shareholders
Founded in 2016, Xinwei Medical is an innovative enterprise focusing on the development and industrialization of new minimally invasive interventional technologies for stroke prevention and treatment. Its product line includes thrombectomy therapy for ischemic stroke, stenosis treatment for ischemic stroke, hemorrhagic stroke treatment, cardiogenic stroke prevention and vascular access products, etc.
That follows five rounds of funding, including three equity rounds last year alone. Xinwei medical investors include CICC Pucheng, Fosun Pharmaceutical, SDIC Chuanghe and other investment institutions.
According to the prospectus, Xinwei Medical is a pioneer in neurointerventional medical devices in China, with the goal of redefining norms for the treatment and prevention of stroke.
With its combined R&D, manufacturing and commercialization capabilities, Xinwei Healthcare is committed to reducing stroke mortality and improving outcomes in China and around the world by commercializing innovative products in development.
The company has a broad portfolio of 23 commercial and in-development products covering the entire large, rapidly growing and very under-penetrated neurointerventional market.
The combination ranges from the treatment and prevention of ischemic stroke (including acute ischemic stroke and intracranial stenosis) to the treatment of hemorrhagic stroke.
As of the last practical date, Xinwei Healthcare has received NMPA approval for four ischemic stroke devices, forming a complete product suite for stent thrombectomy.
In addition, the company is expected in 2021, nine of the commercialization in late stage of the product in development, and in 2022 to 2025 commercial 10 currently in the research on the early stages of the product, including the world's first for intracranial stenosis of rapamycin intracranial drug-eluting balloon catheter, to further expand and enrich the product type, to meet the needs of patients with cerebral apoplexy constantly differentiation.
Stroke is a leading cause of death and disability worldwide. In China, stroke is the leading cause of death in 2019, due to the continued increase in the incidence of stroke recorded in recent years, largely due to the aging population in China.
In recent years, the innovation of neurointerventional technology is completely changing the treatment and prevention of stroke, leading to a fundamental change from the traditional anticoagulant drug therapy and intravenous thrombolysis therapy to the new neurointerventional surgery with proven safety and significantly enhanced efficacy.
Xinwei Medical's innovative and comprehensive product portfolio, coupled with one global and several domestic first-of-its-kind neurointerventional devices, places it at the forefront of change.
In 2019, the number of stroke patients in China reached 14.8 million (including 11.9 million ischemic stroke patients and 2.9 million hemorrhagic stroke patients), and the annual incidence of ischemic stroke reached 2.3 million in 2019, according to the data of CCIG.
On the other hand, the penetration rate of neurointerventional surgery in China is relatively low compared with that in developed countries. In the United States, the penetration rate of thrombectomy increased rapidly from 1.4% in 2015 to 11.8% in 2019 due to the American Heart Association (AHA) guidelines recognizing thrombectomy as first-line therapy and advanced technology for ischemic stroke in 2015.
In contrast, the penetration rate for thrombectomy surgery in China remained at just 1.7% in 2019, but is expected to increase to 42.9% by 2030, thanks to a combination of technological innovation, favorable government policies, and rising per capita disposable income and health spending.
As the market leader in neurointerventional devices in China, Xinwei Medical intends to seize the growth opportunities to consolidate its leading market position.
Xinwei Medical's two production facilities are both located in Shanghai. The Zhangjiang production facility has been put into operation with an annual production capacity of 12,000 units, while the Lingang production facility is currently under construction and is expected to be operational in mid-2021 with an annual production capacity of more than 100,000 units.
As of September 30, 2020, Xinwei Medical has established a large distribution network consisting of 27 distributors covering more than 800 hospitals in more than 20 provinces and municipalities in China.
Financial data, heart junwei medical assets by as of December 31, 2019 up to RMB 91.3 million as of September 30, 2020 of 375.8 million yuan, mainly due to (I) other intangible assets from zero to increase to 40.9 million yuan, mainly for us from the acquisition of nanjing, pulse, and intellectual property rights; (ii) a substantial increase in the right to use assets from RMB 1.2 million to RMB 23.1 million due to the lease of additional property in the production facility in Hong Kong, and (iii) a substantial increase in cash and cash equivalents from RMB 25.5 million to RMB 247.6 million, mainly due to the proceeds of the Series C and Series D financing.
The company's total liabilities by as of December 31, 2019 up to RMB 10.2 million as of September 30, 2020 of 106.6 million yuan, mainly because of trade and other payables by a significant increase of 2.5 million yuan to 64.6 million yuan, this is because some equity is given out in August 2020 were restricted to buy back shares duty 30 million yuan, and nanjing, pulse's purchase price 21.1 million yuan as of September 30, 2020 are still outstanding; The total lease liabilities increased substantially from RMB1.2 million to RMB25.0 million, mainly due to the additional lease of the factory for the lease of the production facility in the harbor; And the significant increase in deferred tax liabilities from zero to RMB 10.2 million was mainly related to the intellectual property rights acquired by the Company as a result of the acquisition of Nanjing SMD.
Xinwei Healthcare intends to use the proceeds from the IPO for the following purposes, which will be allocated to its core products, such as funding the ongoing research and development, production and marketing of CaptorTM thrombectic devices in China; Funding R&D, planning production and marketing of the left atrial appendage occluder in China; Distribution to other pipeline products under development; To fund the improvement of the company's R&D capacity and the continued expansion of its production portfolio through internal research; And for working capital and other general business purposes.
Three Forecast Trends of Bank and Securities Mixed Operation
After CITIC Securities and CITIC Securities responded to regulatory inquiries, the rumors about the merger of the two major brokerage firms came to an end. A reporter from the Securities Times noted that due to the stock market's surge last week, rumors of mixed industry have become a hot topic in the industry, and related conjectures have also derived multiple models.
After CITIC Securities and CITIC Securities responded to regulatory inquiries, the rumors about the merger of the two major brokerage firms came to an end. But another rumor remains unsolved, that is, will the state-owned big bank get regulatory permission and obtain a brokerage license?
A reporter from the Securities Times noted that due to the stock market's surge last week, rumors of mixed industry have become a hot topic in the industry, and related conjectures have also derived multiple models.
Zhao Ran, chief researcher of non-banking securities of China Securities Co., Ltd., believes that there are three options for mixed-industry: one is the universal banking model, that is, commercial banks directly carry out brokerage business, similar to the structure of Deutsche Bank; the other is the bank holding brokerage model, which means either Create a new brokerage firm, either by participating in or controlling a brokerage firm to achieve business synergy; the third is the financial holding company model, in which the main body of the holding group is not a bank, but a comprehensive financial service platform covering banks, brokerages, insurance, direct investment, etc. .
Three Forecast Trends of Bank and Securities Mixed Operation
After CITIC Securities and CITIC Securities responded to regulatory inquiries, the rumors about the merger of the two major brokerage firms came to an end. A reporter from the Securities Times noted that due to the stock market's surge last week, rumors of mixed industry have become a hot topic in the industry, and related conjectures have also derived multiple models.
After CITIC Securities and CITIC Securities responded to regulatory inquiries, the rumors about the merger of the two major brokerage firms came to an end. But another rumor remains unsolved, that is, will the state-owned big bank get regulatory permission and obtain a brokerage license?
A reporter from the Securities Times noted that due to the stock market's surge last week, rumors of mixed industry have become a hot topic in the industry, and related conjectures have also derived multiple models.
Zhao Ran, chief researcher of non-banking securities of China Securities Co., Ltd., believes that there are three options for mixed-industry: one is the universal banking model, that is, commercial banks directly carry out brokerage business, similar to the structure of Deutsche Bank; the other is the bank holding brokerage model, which means either Create a new brokerage firm, either by participating in or controlling a brokerage firm to achieve business synergy; the third is the financial holding company model, in which the main body of the holding group is not a bank, but a comprehensive financial service platform covering banks, brokerages, insurance, direct investment, etc. .
Three Forecast Trends of Bank and Securities Mixed Operation
After CITIC Securities and CITIC Securities responded to regulatory inquiries, the rumors about the merger of the two major brokerage firms came to an end. A reporter from the Securities Times noted that due to the stock market's surge last week, rumors of mixed industry have become a hot topic in the industry, and related conjectures have also derived multiple models.
After CITIC Securities and CITIC Securities responded to regulatory inquiries, the rumors about the merger of the two major brokerage firms came to an end. But another rumor remains unsolved, that is, will the state-owned big bank get regulatory permission and obtain a brokerage license?
A reporter from the Securities Times noted that due to the stock market's surge last week, rumors of mixed industry have become a hot topic in the industry, and related conjectures have also derived multiple models.
Zhao Ran, chief researcher of non-banking securities of China Securities Co., Ltd., believes that there are three options for mixed-industry: one is the universal banking model, that is, commercial banks directly carry out brokerage business, similar to the structure of Deutsche Bank; the other is the bank holding brokerage model, which means either Create a new brokerage firm, either by participating in or controlling a brokerage firm to achieve business synergy; the third is the financial holding company model, in which the main body of the holding group is not a bank, but a comprehensive financial service platform covering banks, brokerages, insurance, direct investment, etc. .
Three Forecast Trends of Bank and Securities Mixed Operation
After CITIC Securities and CITIC Securities responded to regulatory inquiries, the rumors about the merger of the two major brokerage firms came to an end. A reporter from the Securities Times noted that due to the stock market's surge last week, rumors of mixed industry have become a hot topic in the industry, and related conjectures have also derived multiple models.
After CITIC Securities and CITIC Securities responded to regulatory inquiries, the rumors about the merger of the two major brokerage firms came to an end. But another rumor remains unsolved, that is, will the state-owned big bank get regulatory permission and obtain a brokerage license?
A reporter from the Securities Times noted that due to the stock market's surge last week, rumors of mixed industry have become a hot topic in the industry, and related conjectures have also derived multiple models.
Zhao Ran, chief researcher of non-banking securities of China Securities Co., Ltd., believes that there are three options for mixed-industry: one is the universal banking model, that is, commercial banks directly carry out brokerage business, similar to the structure of Deutsche Bank; the other is the bank holding brokerage model, which means either Create a new brokerage firm, either by participating in or controlling a brokerage firm to achieve business synergy; the third is the financial holding company model, in which the main body of the holding group is not a bank, but a comprehensive financial service platform covering banks, brokerages, insurance, direct investment, etc. .