Xi'an Daj Medical Group submitted its application for H share listing today (28th). The joint sponsors are China Securities Co.,Ltd., Puyin International, and CMBC CAPITAL.
The company is a supplier of innovative radiotherapy solutions in mainland China. Its core product, CybeRay, is the first real-time image-guided gamma radiosurgery system in the world, which received approval from the USA Food and Drug Administration (FDA) in March 2021 and from the China National Medical Products Administration in July 2022. It is currently in the research and development stage for expanding its indications. The group also has a flagship product TaiChiRT Pro, which is the first integrated radiation therapy system for X/gamma rays to receive breakthrough medical instruments designation from the FDA.
The group’s revenue last year increased by nearly 1.2% year-on-year to 0.264 billion yuan, while the annual loss expanded to 94.572 million yuan, compared to a loss of 69.78 million yuan in the previous fiscal year.
The funds raised from the H shares are intended for continued research and development of the core product CybeRay: to continue developing its TaiChi platform solutions and related products; allocate funds for the research and development of the digital operating system solutions; continue allocating resources for the research and development of GMD platform solutions; and expanding the sales and marketing network.
