Suxis Shenzhen Stock Exchange Main Board IPO Termination Focus on research and sales of plant-based biomedical materials.

On January 7th, Saixaise Bio-Technology Co., Ltd. (referred to as Saixaise) terminated its application for an IPO on the Shenzhen Stock Exchange main board. This decision was made as the sponsor of Saixaise withdrew the application for issuance and listing, in accordance with the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (Revised in 2024)" Article 62. The prospectus shows that Saixaise is a high-tech enterprise specializing in the research, development, production, and sale of plant-based interventional biomaterial medical devices. It has leading technology in the fields of hemostasis and surgical anti-adhesion, tissue sealing and protection, interventional embolization, tissue engineering, and other biomaterial areas. Currently, Saixaise has 20 types of medical device products, including 8 third-class medical device products, of which 3 products are domestically exclusive. It has a total of 11 main research projects in the four major biomaterial fields, with 3 third-class medical device products developed and listed during the reporting period, including the new product corneal surface viscoelastic protective agent which is domestically exclusive. During the reporting period, Saixaise's main products were surgical anti-adhesion solution, composite microhole polysaccharide hemostatic powder, absorbable dura mater sealing medical adhesive, and absorbable vascular sealing medical adhesive. Both the surgical anti-adhesion solution and the composite microhole polysaccharide hemostatic powder have been clinically applied for over 10 years, with high market acceptance and good user feedback. In 2022, the market share of these two products remained above 26%, and they have been used in over 3000 hospitals nationwide, representing strong brand influence in the segmented industry. During the reporting period, the sales of absorbable dura mater sealing medical adhesive and absorbable vascular sealing medical adhesive have grown rapidly, with compound annual growth rates of 43.36% and 118.93% from 2021 to 2023, respectively. Their reputation and recognition among users continue to increase. The funds raised in this fundraising will be used entirely for the following projects after deducting issuance expenses: Financially, in 2021, 2022, and 2020, Saixaise's operating income was RMB 4.37 billion, RMB 4.36 billion, and RMB 3.79 billion, respectively. During the same period, the company's net profit was approximately RMB 1.27 billion, RMB 1.37 billion, and RMB 1.5 billion, respectively.