Aikang Medical's application for an IPO on the Sci-Tech Innovation Board of the Shanghai Stock Exchange has been accepted and is planning to raise 1.1 billion yuan.

On March 24, Beijing Ecovisor Medical Devices Co., Ltd. (Ecovisor Medical) has filed for an IPO on the Sci-Tech Innovation Board of the Shanghai Stock Exchange. CITIC SEC is the sponsor institution and the company plans to raise 1.1 billion yuan. According to the prospectus, Ecovisor Medical is a high-tech enterprise in the commercialization stage focused on the development, production, and commercialization of Innovative Medical Management devices in the field of neuro-intervention. As of now, the company has obtained approval in China for ten neuro-intervention and access Class III medical devices, including Innovative Medical Management products such as the Lattice blood flow-guided stent and the Grism remote endovascular embolization support system. Some products have also been approved or registered in overseas markets such as the United States and Southeast Asia. In the hemorrhagic field, the Lattice series of blood flow-guided stents is the first and only domestically produced stent equipped with a mechanical balloon delivery system and MIROR surface modification technology. Since its approval through the "green channel" in 2022, its market share has rapidly increased, with a national market share of over 20% in the first half of 2025, and over 11,000 sets have been implanted. The company's research product Coincide liquid embolization system is intended for the treatment of chronic/subacute subdural hematomas and is expected to fill a gap in the domestic intervention treatment of this disease after its market launch. In the ischemic and access fields, the company has not only established a dual technical pathway of "stent retrieval plus suction retrieval" composed of the Grism remote endovascular embolization support system and the Attractor intracranial suction catheter, but also covers the entire surgical process from puncture establishment to targeted release through products such as the Cosine series, Sine series, and Paracurve. The blood flow-guided stent is a major source of revenue for the company, with its contribution to revenue exceeding 95% starting from the 2023 fiscal year. During the reporting period, the total sales to the top five customers accounted for 100.00%, 47.68%, 58.77%, and 44.55% of the total sales for the period. The proceeds from this public offering (after deducting issuance expenses) will be used for projects related to the company's main business. Specifically, the investment projects are as follows: Financially, the company achieved operating revenues of 900,900 yuan, 97.9874 million yuan, 199 million yuan, and 188 million yuan in the fiscal years 2022, 2023, 2024, and January to September 2025, respectively. During the same period, net profits were approximately -103 million yuan, -363 million yuan, 16.9695 million yuan, and 36.3889 million yuan.