The Smart Finance APP learned that on October 25, Jian Yikang (603205.SH) started the subscription, with an issue price of 14.65 yuan per share, a subscription limit of 0.012 million shares, a P/E ratio of 14.59 times, listed on the Shanghai Stock Exchange, and CSC as the sponsor and lead underwriter.

The prospectus shows that Jian Yikang's main business is the research and development, production, and sale of disposable medical equipment such as medical dressings and disinfection and hygiene products, with products divided into six major series according to usage: surgical consumables, wound care, disinfection and cleaning, protective, polymer and auxiliary, and non-woven fabric. The products are exported to multiple countries and regions including the United States, European Union, Middle East, Latin America, and Africa. The exported products have obtained qualifications such as FDA registration in the United States and CE certification in the European Union.

Currently, the entry threshold for China's medical dressings industry is relatively low, with many production enterprises in the industry and low industry concentration. At the same time, domestic medical dressings are mainly traditional products, with severe homogenization, and most domestic companies engage in low-price competition in the low-end market. Brand awareness and influence are relatively low. In the future, as medical reforms progress and domestic enterprises continuously improve their own technology, craftsmanship, and R&D capabilities, leading companies in the industry will more actively expand their global market layout based on strategic development needs, increase R&D investment, shift from traditional medical dressings to high-end medical dressings industry, further expand market share, and continuously increase industry concentration.

According to statistics from the China Meheco Group, from 2017 to 2023, the company has ranked fourth among domestic medical dressing export enterprises for seven consecutive years. The top three are Allmed Medical Products (002950.SZ), Winner Medical (300888.SZ), and Zhende Medical (603301.SH). The above companies are the main competitors in the industry and are domestic listed companies with significant competitive advantages in the industry.

The company's main customers are globally renowned medical dressing brand operators, mainly including Cardinal, Medline, Owens & Minor, Mckesson, and Hartmann, with whom the company has established long-term stable cooperative relationships through years of collaboration.

Financially, in 2021, 2022, 2023, and January to June 2024, the company achieved operating revenues of approximately 0.782 billion yuan, 1.093 billion yuan, 1.034 billion yuan, and 0.505 billion yuan respectively, with corresponding net profits of approximately 0.132 billion yuan, 0.157 billion yuan, 0.124 billion yuan, and 60.9427 million yuan.