IPO News | Jingfeng Medical is committed to the design, development and manufacture of surgical robots through the Hong Kong Stock Exchange hearing

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on December 21, Shenzhen Jingfeng Medical Technology Co., Ltd. (abbreviation: Jingfeng Medical) passed the Hong Kong Stock Exchange's main board listing hearing, and Morgan Stanley and GF Securities were co-sponsors.

According to the prospectus, Jingfeng Medical is an advanced surgical robot company in the medical device industry, dedicated to the design, development and manufacture of surgical robots. The company has three products covering different types of products at different stages of development and products under development to seize the market potential of surgical robots, including multi-hole endoscopic surgery robots and single-hole endoscopic surgery robots for minimally invasive surgery, and natural cavity surgery robots for non-invasive surgery.

Currently, the company's product portfolio includes two self-developed core products: Jingfeng® multi-hole endoscopic surgery robot and Jingfeng® single-hole endoscopic surgical robot. The company's product portfolio also includes the Jingfeng® bronchoscopy robot, which is not a core product. The Jingfeng® multi-hole endoscopic surgical robot is a robotic auxiliary device used to perform minimally invasive surgery. It uses robotics, imaging technology, and digital technology. The scope of application covers urology, gynecology, general surgery and thoracic surgery. The Jingfeng® single-hole endoscopic surgical robot is a robotic auxiliary device used to perform minimally invasive surgery through a single small incision or natural cavity. The scope of application covers urology, gynecology and general surgery.

Notably, the company may not be able to successfully market the company's core products overseas as planned, or may not be able to successfully develop or market core products and other expanded surgical applications of products under development (such as urology, gynecology, general surgery, and thoracic remote surgery, and pediatric, cardiac, otolaryngology (ENT) and head and neck surgery) in China or overseas markets (such as Japan and Korea). The expansion of a number of surgical applications is in the early clinical development stage, and at this stage the company may continue to incur huge costs and expenses for further research and development activities for core products.

According to Frost & Sullivan, the company is the first company in China and the second in the world to simultaneously obtain registration approval for a multi-hole endoscopic surgical robot, a single-hole endoscopic surgical robot, and a natural cavity surgery robot. The company received initial registration approval from the State Drug Administration for Jingfeng® multi-hole endoscopic surgery robots, Jingfeng® single-hole endoscopic surgery robots, and Jingfeng® bronchoscopic robots in December 2022, November 2023, and January 2025, respectively.

On the financial side, in the six months ended June 30 in 2023, 2024, 2024, and 2025, Jingfeng Medical achieved revenue of approximately RMB 40.42 million, RMB 160 million, RMB 30.245 million, and RMB 149 million respectively. In the same period, losses during the year were approximately RMB 213 million, RMB 219 million, RMB 133 million, and RMB 89.087 million, respectively.