Baimai Medical's ChiNext IPO Passes Listing Committee Meeting, Positioned as a Provider of Interventional Treatment Solutions for Complex Vascular Diseases

On September 16, Guangdong Baimai Medical Technology Co., Ltd. (referred to as "Baimai Medical") passed the listing committee meeting of the Shenzhen Stock Exchange's ChiNext. The IPO sponsor is CICC, with planned fundraising of 1.2 billion yuan. According to the prospectus, Baimai Medical focuses on the R&D, production, and global sales of high-performance vascular interventional medical devices. It is a globally leading provider of interventional treatment solutions for complex vascular diseases in terms of technology and products, and is also a leading R&D and manufacturing enterprise in China in the field of domestic vascular interventional balloon catheters in terms of production and sales volume. In terms of product system development, the company has formed a comprehensive product matrix covering multiple treatment scenarios, with more than 50 product series. Its product application areas cover key fields such as coronary intervention, peripheral intervention, neuro intervention, hemodialysis access, and interventional accessories, specifically including core product lines such as various general balloon catheters, functional balloon catheters, drug-coated balloon catheters, interventional guidewires and catheters, various thrombus treatment devices, calcification treatment devices, and energy treatment devices, which can fully meet the diverse clinical needs for interventional treatment of complex vascular diseases. During each reporting period, the composition of the company's main business by product is as follows: As a leading enterprise in the field of vascular interventional medical devices, Baimai Medical occupies a leading position in the market by virtue of its technological advantages and large-scale production capacity in products such as balloon catheters. According to Frost & Sullivan data, in 2025, Baimai Medical ranked fourth in China's coronary balloon dilation catheter market with an 11.0% market share, and first among domestic brands; it ranked fifth in China's peripheral arterial balloon dilation catheter market with a 6.5% market share. In terms of financials, for the years 2023, 2024, and 2025, the company achieved operating revenue of approximately 335 million yuan, 460 million yuan, and 655 million yuan, respectively; during the same periods, net profit was 25.9914 million yuan, 76.7847 million yuan, and 80.0499 million yuan, respectively.