Fei Yi Nuo's application for listing on the Shenzhen Stock Exchange's Growth Enterprise Board has been accepted, making it the first domestic manufacturer to launch products featuring the "ultra-fast software beamforming synthesis platform".

On March 30th, Feino Technology Co., Ltd. (Feino), Shenzhen Stock Exchange SME Board IPO has been accepted for review. Huatai United Securities is its sponsoring institution, with plans to raise 872.3 million yuan. According to the prospectus, Feino Technology Co., Ltd. is a research and innovation-driven enterprise that provides a full range of medical ultrasound imaging solutions for global medical institutions. Feino is the first domestic manufacturer to launch a product featuring the "Super Fast Beamforming Platform," achieving full-domain focusing and ultra-high frame rate imaging through architectural innovation. This integration of hardware performance and software algorithms breaks the monopoly of foreign ultrasound imaging equipment giants on the cutting-edge technology route in the ultrasound sector. The company has mastered key technologies covering the host system and core components of the ultrasound transducer, achieving independent control of core technologies in ultrasound imaging equipment. Leveraging Feino's leading super-resolution microscopic imaging technology, domestic renowned medical institutions such as Shanghai Ruijin Hospital, PLA General Hospital (301 Hospital), and West China Hospital of Sichuan University have jointly conducted 14 multi-center studies on different diseases, aiming to explore the clinical value of super-resolution microscopic imaging technology in various disease areas, establish expert consensus, and clinical practice guidelines to open up new clinical application space for ultrasound imaging equipment. Additionally, the company has proactively laid out ultrasound cavitation-assisted diagnosis and treatment technology, aiding the company in exploring "medical assisted diagnosis and treatment" using ultrasound cavitation effects. With the advantage of platform development, the company has established a rich and competitive product matrix. As of the date of signing the prospectus, the company's self-developed color ultrasound diagnostic equipment product line has fully covered medical ultrasound imaging equipment and animal ultrasound imaging equipment, achieving full coverage in product forms such as trolley, portable, and handheld, meeting the needs of multiple application scenarios in hospitals, emergency care and bedside treatment, grassroots medical care, and animal diagnosis. Among them, the company's flagship product series ULTIMUS 9E, with leading super-resolution microscopic imaging technology, comprehensive real-time dynamic artificial intelligence technology, multi-mode shear wave elastography technology, automatic measurement of overall arterial stiffness technology, and microvascular imaging technology, has entered the industry's top tier in terms of product quality and functionality, effectively breaking the long-term monopoly of international giants in the ultra-high-end ultrasound sector. The company has established sales channels in over 100 countries worldwide. In China, the company's products are used in thousands of medical institutions nationwide, including Peking Union Medical College Hospital, PLA General Hospital (301 Hospital), Shanghai Ruijin Hospital, Shanghai Zhongshan Hospital, and West China Hospital of Sichuan University. Overseas, the company has successfully entered markets in Europe, South America, Asia, Africa, and other regions, with its products widely recognized by end customers. According to Frost & Sullivan statistics, by 2024, the total sales of Feino's full range of medical ultrasound imaging equipment rank third among domestic manufacturers in domestic sales, second in the field of ultra-high-end medical ultrasound imaging equipment, and second in the field of animal ultrasound imaging equipment. Financially, in 2022, 2023, 2024, and January-September 2025, the company's operating income is approximately 530 million yuan, 538 million yuan, 622 million yuan, and 432 million yuan respectively. During the same period, the company's net profits are approximately 38.6285 million yuan, -65.5905 million yuan, 48.5561 million yuan, and 37.8283 million yuan respectively.