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Recently, the official website of the CSRC disclosed,Shenzhen Certainn Technology Co., Ltd. (referred to as "Moptim") has filed for IPO tutoring.The tutoring institution is China Merchants Securities Co., Ltd., and the dispatched institution is Shenzhen Securities Regulatory Bureau.

Data shows that Moptim, founded in 2003, is a high-tech enterprise integrating the R&D, production, sales, and service of advanced ophthalmic medical equipment. It focuses on three core ophthalmic subfields: ophthalmic diagnosis, ophthalmic surgery, and refraction testing. The company primarily develops a product line of advanced ophthalmic diagnostic equipment, mainly centered around ophthalmic OCT.It is the third company globally and the first in China to industrialize ophthalmic OCT, once hailed as "China's Zeiss."

It is worth mentioning that Moptim completed a multi-million yuan A+ round of financing in March 2022, led by BV Baidu Ventures.On September 19, 2023, Moptim announced the successful completion of its shareholding system reform and officially changed its name to "Shenzhen Certainn Technology Co., Ltd."

Shenzhen Moptim Medical Technology Co., Ltd. was founded by the chairman of the company.Wang Hui and several outstanding experts from China's first OCT research group were officially established in 2003.Since its establishment, the company has been focusing on medical imaging technology and research.

With strong scientific research capabilities, Moptim successively launchedThe first time-domain OCT for the posterior segment of the eye with independent intellectual property rights in China, the first anterior segment time-domain OCT in China, and the first spectral-domain OCT in China,Among them, the frequency-domain OCT has been awarded the National Key New Product Certification. It has completely broken the international technical blockade and filled the gap in the domestically produced OCT market.From 2013 to 2016, the world's first optical biometer based on frequency-domain OCT technology and China's first Doppler vascular imaging OCT were launched.

From 2019 to 2022, the company successively launched a number of devices, including the globally leading spectral-domain OCT angiography system, a new-generation wavefront handheld autorefractor, a digital surgical microscope, a slit lamp, a new-generation optical biometer, a dry eye analyzer, and the first home autorefractor sold directly to end consumers (C-end).

Currently, Moptim's medical products have covered three core细分 areas of ophthalmology: ophthalmic diagnosis, ophthalmic surgery, and refraction detection. Products include ophthalmic optical coherence tomography (OCT), ophthalmic optical biometer, ophthalmic surgical microscope, slit lamp microscope, handheld vision screening device, home refractometer, and intelligent electronic visual acuity chart.

As a collaborative research and development base of Tsinghua University's Shenzhen Graduate School, Moptim's core technology and talent stem from Tsinghua University. Since its establishment, it has maintained close cooperation and technical exchanges with multiple universities and clinical medical institutions, such as Zhongshan Ophthalmic Center of Sun Yat-sen University, Shenzhen Eye Hospital, and Peking University Shenzhen Hospital.

Settling in China Eye Valley

In May 2023, Moptim established a Wenzhou subsidiary, which settled in China Eye Valley.According to reports, Moptim will fully play the positive role of a leading enterprise in ophthalmic medical devices, grasp the frontier direction of optical core technology, actively promote direct interaction between front-end innovative supply and end-user market demand, transform more scientific and technological achievements into real productive forces, and assist China Eye Valley in building a globally visionary and internationally competitive industry-university-research cooperation platform in the field of ophthalmic medical devices. Together, they will create a sustainable development ecosystem that benefits the optometry industry and promote the high-quality development of China's optometric industry.

"China's Zeiss"

As a leader in China's domestic ophthalmic medical device field, Moptim is also the third company globally and the first in China to industrialize ophthalmic OCT technology. By enhancing industrialization capabilities, the company has achieved self-research and production of core components, with over 98% of materials sourced domestically, laying a solid foundation for the popularization of OCT equipment.The company's products and solutions have covered more than 8,000 medical institutions worldwide, once hailed as "China's Zeiss," with over 35% market share in China.

In addition, the company has actively expanded into overseas markets and is the earliest ophthalmic medical device enterprise in China to have laid out its presence in foreign markets.Currently, sales channels have been established in over 50 countries and regions, with products covering areas such as Europe, South America, and the Asia-Pacific.

According to relevant data, Moptim completed a multi-million yuan Series A financing in the second half of 2020, with the investor being the Phase III Equity Investment Fund of Shenzhen Guoke Ruihua, subordinate to the Chinese Academy of Sciences (referred to as Guoke Ruihua).

BV Baidu Ventures Exclusive Investment

In March 2022, Moptim announced the completion of a multi-million yuan A+ round of financing, exclusively invested by BV Baidu Ventures. The funds will be used for product line expansion, market promotion, and other aspects. In the same month, the company underwent industrial and commercial changes.At that time, Tianyancha showed that its registered capital increased from 11.6992 million yuan to 11.9916 million yuan, with the new shareholder being Baidu's associated company, Sanya Baichuan Zhixin Private Equity Investment Fund Partnership, holding 2.44% of the shares.

Mocean 4000

Deepen Cooperation with Baidu

In addition to receiving exclusive investment from BV Baidu Ventures,Moptim also announced on February 16, 2023, that it has become one of the first ecological partners of Baidu's Wenxin Yiyan (English name: ERNIE Bot).Moptim will fully experience and integrate the capabilities of Wenxin Yiyan, expand its technological advantages in the field of ophthalmic medical devices, and provide global users with more advanced and higher-quality products and services, driving the digital transformation and innovation of the ophthalmic medical device industry.

Will apply Baidu's leading intelligent dialogue technology achievements in the field of ophthalmic medical devices, marking that Moptim has prioritized the support of leading AI technology.This also marks the first landing of conversational language model technology in ophthalmic medical scenarios in China.

Moptim will have priority in internally testing and utilizing Wenxin Yiyan, integrating its technical capabilities. Moptim will deepen cooperation with Baidu in multiple areas such as product development and standard formulation. With the assistance of Baidu's technical team, they will create joint solutions. Through technical sharing, training empowerment, and joint marketing, they will strengthen their competitiveness to provide users with artificial intelligence solutions and services for high-end ophthalmic medical devices. Meanwhile, relying on smart interconnection and innovative interconnection, they will lead the transformation and upgrading of the ophthalmic medical device industry.

Listing Guidance Filing

On September 19, 2023, the company also held the "Inaugural Meeting of Shenzhen Certainn Technology Co., Ltd. and the First Extraordinary Shareholders' Meeting of 2023" in Shenzhen with great ceremony.Announced the successful completion of the shareholding system reform and officially renamed to "Shenzhen Certainn Technology Co., Ltd.", marking an important step forward in Moptim's development journey.

Several months after completing its shareholding reform, Moptim officially signed an IPO coaching agreement with China Merchants Securities Co., Ltd. on December 25, 2023; On January 5, 2024, the official website of the CSRC disclosed Moptim's IPO coaching filing, which also means that Moptim has officially embarked on its IPO journey.

Wang Hui and spouse hold 72.26% of shares

According to the filing report, Wang Hui directly holds 30.16% of the company's shares and, as the sole shareholder of Shenzhen Keyin Investment Co., Ltd., controls 20.25% of the company's shares. Huang Li directly holds 8.74% of the company's shares and, as the executive partner of Shenzhen Hezhong Tonghui Investment Enterprise (Limited Partnership) and Shenzhen Huahui Hezhong Investment Enterprise (Limited Partnership), indirectly controls 8.74% and 4.37% of the company's shares, respectively.Wang Hui and Huang Li are spouses, jointly controlling 72.26% of Moptim's equity, and are the company's joint actual controllers.

Ophthalmic medical devices, as the fifth largest sub-sector of the global medical device industry, represent a track with both market space and growth potential. Especially catalyzed by factors such as aging population and increased average screen time per person, treatment demand has been steadily growing in recent years.

According to statistics, the global ophthalmic medical device market size grew from USD 21.5 billion in 2017 to USD 26.8 billion in 2021, with a growth rate of 5.66%.With the expansion of the patient population and the development of advanced technologies, the global ophthalmic medical device market is expected to continue growing, reaching over 30 billion US dollars in 2022, with a year-on-year increase of 14.18%.

From the perspective of China's细分 market, in recent years, age-related eye diseases such as cataracts and diabetic retinopathy caused by the aging population structure in China have continued to increase.

According to data from the National Health Commission, in 2022 there were over 220 million cataract patients in China, with an incidence rate of 80% among the population aged 60-89. Meanwhile, macular degeneration, one of the three major causes of blindness globally and a serious yet often overlooked retinal disease in middle-aged and elderly people, despite its relatively low prevalence in the overall population, affects nearly 30 million people currently in China due to the country's large population base.

According to Frost & Sullivan data, the market size of ophthalmic medical devices in China will exceed 20 billion yuan in 2023 (excluding contact lenses, orthokeratology lenses, etc.).Among them, ophthalmic diagnosis and treatment equipment accounted for the largest proportion, reaching 50.3%; ophthalmic consumables accounted for 44.5%; and ophthalmic technical services accounted for 5.2%.

In the next five years, the market will maintain a compound annual growth rate of 17%, with an expected scale of 28.3 billion yuan by 2025. From 2026 to 2030, the market will sustain a growth rate of 12%, with an expected scale approaching 50 billion yuan by 2030.

As the "gold standard" in the field of ophthalmic diagnosis, the market supply and demand scale of China's ophthalmic OCT equipment industry reached 10.239 billion yuan in 2018.And it has been increasing at an annual rate of about 8%, reaching 14.201 billion yuan in 2022. At the same time, with the rapid growth of domestic market demand, the market size of ophthalmic OCT will continue to expand.

As a leader in the field of domestically produced ophthalmic medical devices, Moptim's products cover multiple areas. It is also the third company globally and the first in China to industrialize ophthalmic OCT technology. Its products and solutions are used by over 8,000 medical institutions worldwide. With the recent filing for IPO coaching, a successful public listing could bring more opportunities in the rapidly growing ophthalmic healthcare sector. Medical Device News will continue to follow up on this development.

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