On May 5th, Capital Bang learned that Shanghai Inuowei Medical Devices Co., Ltd. submitted a prospectus to the Hong Kong Stock Exchange for listing on the Hong Kong main board IPO. Goldman Sachs Group and China International Capital Corporation are its co-sponsors.

According to the prospectus, Invid Medical, founded in 2009, is China's leading provider of integrated solutions for non-vascular interventional surgery with a global vision.

According to CIC, Invid Healthcare has established a leading proprietary technology platform and economies of scale, making it one of the few companies in the world to provide integrated solutions for endoscopes, active medical devices and passive consumables for non-vascular interventional surgery.

Based on the same data, the company has developed the most comprehensive portfolio of medical devices for urological non-vascular interventional surgery in the world and in China. To date, the company has 31 approved products in China, the United States, Europe and ╱ or Japan and 17 products under development.

In terms of business performance, the company largely depends on the successful sale of its commercial products. After the company's first product was approved in 2010, the company's revenue grew rapidly. During the track record period, most of the company's revenue came from sales in China. The company's products are also sold to more than 60 countries and regions on five continents.

In 2020 and 2021, the operating income of Invid Medical was 137 million yuan (the same below) and 255 million yuan respectively, the gross profit was 86.832 million yuan and 163 million yuan, and the annual loss was 171 million yuan and 695 million yuan respectively.

It is worth noting that the company admitted that it may incur a net loss in the foreseeable future. During each period, the Company incurred a net loss, mainly due to expenses incurred on R & D projects and operation-related administrative expenses incurred by the Company in order to expand its product portfolio and motivate employees. The company's net loss in 2021 is also attributable to the fair value loss of financial liabilities measured at fair value and whose changes are included in profit or loss.

In 2020 and 2021, the company's R & D costs are 139 million yuan and 291 million yuan respectively, accounting for 101.1% and 114% of the company's total revenue respectively. However, the company may not be able to successfully develop, obtain regulatory approval or commercialize the company's candidate products in time, or it may not be able to develop, obtain regulatory approval and commercialize the company's candidate products at all. This means that it may cause significant damage to the company's business, and the company may not be able to generate sufficient revenue and cash flow to continue to operate.

With regard to the use of fund-raising, the company said that it will be allocated to optimize, develop and promote the company's core products; it will be allocated to the research and development, clinical trials and commercialization of the company's other products under development; it will be used to finance the company's potential acquisitions and authorized introduction opportunities.