CSRC approved Jianfa's application for an IPO on the ChiNext Board.

On June 27th, the China Securities Regulatory Commission issued a reply approving the initial public offering of shares of Shanghai Jianfa to Xin Medical Technology Group Co., Ltd. It is reported that Jianfa Xin plans to list on the ChiNext board of the Shenzhen Stock Exchange, with CITIC SEC as its sponsor, intending to raise 484.24 million yuan. According to the prospectus, Jianfa Xin is a national high-value medical device distributor, mainly engaged in the direct sales and distribution of medical devices, and provides services such as centralized operation of medical consumables for terminal hospitals. In the medical device industry chain, the company mainly undertakes the circulation function of medical devices and plays an important role as the hub linking manufacturers, distributors, and terminal medical institutions in the industry chain. In the direct sales business, the company can provide direct sales services for over 3,300 terminal medical institutions in 31 provinces, municipalities, and autonomous regions across the country with over ten thousand specifications and models of products. In the distribution business, the company has established a distribution network covering the whole country, focusing on high-value interventional products. The main operating products manufacturers include Medtronic, Johnson & Johnson, Terumo, and Guichuangtongqiao, many well-known domestic and foreign companies. As of the end of the reporting period, the company has established and maintained long-term and stable cooperative relationships with over 100 well-known high-value medical device manufacturers at home and abroad.