Sikesaisi's Shanghai Stock Exchange STAR Market IPO "terminated"

On October 8, the IPO review status of Sikesaisi Biotechnology Co., Ltd. (abbreviated as: Sikesaisi) on the Shanghai Stock Exchange STAR Market was changed to "terminated." Because Sikesaisi and its sponsor withdrew the issuance and listing application, in accordance with the relevant provisions of Article 63 of the Shanghai Stock Exchange Stock Issuance and Listing Review Rules, the Shanghai Stock Exchange terminated its issuance and listing review. The prospectus shows that Sikesaisi focuses on the research and development, production, and sales of absorbable implantable and interventional medical devices. After more than 20 years of deep cultivation, the company has systematically built five leading core technology platforms, including PEG functional modification, bio-based polymer material modification, synthetic medical polymer material preparation, extracellular matrix material preparation, and self-assembling peptide material design and preparation. It has become one of the few medical device companies in China capable of simultaneously deploying and maturely operating multiple absorbable medical material platforms, forming a platform-based R&D architecture driven by "material innovation driving product innovation." Relying on the above platforms, the company has formed a product system of absorbable Innovative Medical Management devices covering multiple departments such as neurosurgery, cardiovascular surgery, general surgery, orthopedics, and tumor radiotherapy. The company's absorbable vascular sealing medical adhesive is the only domestic product in this niche field. Since its launch, with stable product performance and good clinical feedback, its market recognition has continued to increase. At present, the company's absorbable vascular sealing medical adhesive occupies about 70% of the market share in the domestic vascular sealing adhesive field, successfully achieving import substitution. At present, the market penetration rate of vascular sealing adhesive in China is about 10%. With the deepening of market promotion and continuous verification of the product's clinical application effects, this product is expected to further increase its market penetration rate and promote the development and growth of independent brands in China's vascular sealing material field. The company's composite microporous polysaccharide hemostatic powder has been used in domestic clinical practice for more than 10 years. This product has maintained a high level in terms of hemostatic effect, safety, and applicability, forming strong brand influence and clinical recognition, and its market share in the niche industry has long remained among the top. At present, the company's composite microporous polysaccharide hemostatic powder has a domestic market share of 27.67% in micro powder absorbable hemostatic materials, ranking first in the niche industry, with a solid market position. The company's surgical anti-adhesion liquid has been clinically used for more than 15 years. This product performs well in terms of safety, stability, and ease of use, and has a high degree of market acceptance. At present, this product has a 20.53% share of the domestic surgical anti-adhesion material market, ranking second in the industry in market share, and is one of the major brands in the surgical anti-adhesion material field. In terms of finances, in 2023, 2024, and 2025, the company achieved operating revenue of approximately RMB 379 million, RMB 331 million, and RMB 338 million, respectively; during the same periods, the company achieved net profit of approximately RMB 153 million, RMB 161 million, and RMB 168 million, respectively.