Sequoia Sesco's Sci-Tech Innovation Board IPO accepted, focusing on the track of absorbable plant-based interventional medical devices in the body.

On March 24th, Zekesai Biotechnology Co., Ltd. (referred to as Zekesai) submitted its application for an IPO on the Shanghai Stock Exchange Science and Technology Innovation Board. EB SECURITIES is its sponsor and it plans to raise 635 million yuan. The prospectus shows that Zekesai is focused on the research, development, production, and sales of absorbable plant-based interventional medical devices. The company's main products include absorbable hard meningeal sealing medical adhesive, absorbable vascular sealing medical adhesive, composite porous polysaccharide hemostatic powder, and surgical anti-adhesion liquid. The company's absorbable hard meningeal sealing medical adhesive is the first innovative product successfully developed in the industry. Currently, it holds about 91% of the market share in the domestic hard meningeal sealing adhesive market, firmly ranking first. The company's absorbable vascular sealing medical adhesive is the only domestically produced product in the field, holding about 70% of the market share in the domestic vascular sealing adhesive market, successfully replacing imports, and is expected to further increase market penetration. At the same time, the company's composite porous polysaccharide hemostatic powder and surgical anti-adhesion liquid also hold significant positions in the domestic market, with the former holding a 27.67% market share in the domestic market for absorbable hemostatic materials, ranking first in the industry. The surgical anti-adhesion liquid holds a 20.53% market share in the domestic market for surgical anti-adhesion materials, ranking second in the industry. As of the end of the reporting period, the company already has 25 medical device products, with several key R&D pipelines progressing smoothly. Three projects are in the registration evaluation stage, three projects are in the clinical trial stage, and seven projects are in the process research and registration inspection stage. The research products cover global high-traffic tracks such as neurosurgery, orthopedics, and tumor radiation therapy. The net proceeds from this fundraising, after deducting issuance costs, will be used for the following projects: Financially, the company's operating income is expected to be 379 million yuan, 331 million yuan, and 338 million yuan in 2023, 2024, and 2025 respectively. During the same period, net profits are estimated to be approximately 153 million yuan, 161 million yuan, and 168 million yuan respectively.