Shandong Biodawn Medical Terminates Sci-Tech Innovation Board IPO Application

Sep 05, 2024 09:06 CST Updated 09:06

Branden

Medical Device Manufacturer

On September 4, the official website of the Shanghai Stock Exchange showed that Shandong Branden Medical Devices Co., Ltd. (abbreviated as:Branden) Voluntarily withdrew the listing application, terminating the STAR Market listing process. (Click to download:Branden Prospectus (Draft for Filing)）

Image Source:Shanghai Stock ExchangeOfficial Website

The prospectus shows,BrandenShandong Branden Medical Devices Co., Ltd. is a national high-tech enterprise dedicated to applying medical material modification technologies to implantable and interventional medical devices.

Through independent research and development and continuous innovation,BrandenThe company has established a core technology platform centered on medical material modification, precision machining, and digital diagnosis and treatment of vascular access. It is the first domestic enterprise to obtain the Class III medical device registration certificate for a Chinese-made Peripherally Inserted Central Catheter (PICC), breaking the monopoly of imported products in the domestic PICC market. In addition to vascular access products, the company boasts a diverse product portfolio that includes neurosurgical products and other material-modified products.

BrandenThe selected specific listing criteria are as follows: the estimated market capitalization is no less than RMB 1 billion, with positive net profits in each of the last two years and cumulative net profits of no less than RMB 50 million; or the estimated market capitalization is no less than RMB 1 billion, with a positive net profit in the most recent year and operating revenue of no less than RMB 100 million.

Branden Plans to Raise RMB 759 Million,Use of Proceeds:

Image source: Prospectus

Financially, for the years 2019–2021 and the period from January to June 2022, Branden’s main business revenue was RMB 176.6438 million, RMB 236.7210 million, RMB 210.1990 million, and RMB 100.1509 million, respectively; its net profit was RMB 31.3172 million, RMB 41.5551 million, RMB 42.8973 million, and RMB 18.4578 million, respectively; and its net profit excluding non-recurring gains and losses was RMB 23.2137 million, RMB 26.7213 million, RMB 33.0444 million, and RMB 17.5378 million, respectively.

Image source:Prospectus

As of the date of signing this prospectus, Zhang Haijun and Guo Haihong are husband and wife, and together they hold 70.00% of the equity in the controlling shareholder, Qihe Branden. Qihe Branden, Zhang Haijun, and Guo Haihong respectively directly holdBranden58.13%, 3.28%, and 0.08% of the shares, directly and indirectly controlled by Zhang Haijun and Guo Haihong through Qihe BrandenBranden61.49% of the shares, making him/her the actual controller of the company.

The prospectus shows that Zhang Haijun was born in March 1968. He is a senior researcher (senior professional title), a deputy to the 13th National People's Congress, recipient of the National May 1st Labor Medal, an expert enjoying special government allowances from the State Council, selected for national key talent programs, an expert in the Ministry of Science and Technology’s Innovation Talent Promotion Plan, and a Taishan Industrial Leading Talent. He has also been honored as a Shandong Province Outstanding Young and Middle-aged Expert with Significant Contributions and received the Shandong Province Fumin Xinglu Labor Medal. Currently, he serves as Chairman and General Manager of Branden, concurrently holding positions as Deputy Director and Visiting Professor at the Vascular Intervention Research Institute of Tongji University, doctoral supervisor, Distinguished Professor at Shandong University of Technology (with a Level 2 Professional Technical Title), and postdoctoral supervisor at Branden’s Postdoctoral Research Station.

Zhang Haijun graduated from Shanghai Medical College of Fudan University (formerly Shanghai Medical University) with a major in Medicine. From July 1992 to August 1994, he served as an Attending Physician at Beijing Jishuitan Hospital; from September 1994 to September 1997, he successively worked at the Beijing Liaison Office of Bayer AG and Fresenius Kabi Pharmaceutical (Beijing) Co., Ltd., engaged in the sales of pharmaceutical products; from November 1998 to March 2021, he served as Chairman and Manager of Qihe Branden; since March 2021, he has been serving as Executive Director of Qihe Branden; from May 2003 to July 2019, he served as Executive Director and General Manager of Branden Limited; since July 2019, he has been serving asBrandenChairman and General Manager. As the primary contributor, Mr. Zhang Haijun led the project “Establishment of Key Digital Diagnosis and Treatment Technology System for Vascular Access and Its Clinical Application,” which was awarded the Second Prize of the National Science and Technology Progress Award. He has presided over more than ten national- and provincial-level key projects, including those funded by the National Innovation Fund. He drafted or participated in the drafting of five published national and industry standards. He is the principal inventor of all patented inventions currently authorized to the company.

Guo Haihong, born in May 1967, holds a Master’s degree in Clinical Medicine and an Executive Master of Business Administration (EMBA) from CEIBS. From July 1990 to September 1995, he served as a physician at Handan Second Hospital. From November 1998 to March 2021, he served as a Director of Qihe Branden. From May 2003 to July 2019, he served as a Director and Deputy General Manager of Branden Limited; since July 2019, he has been serving as a Director and Deputy General Manager of the Company. With many years of medical practice experience, Mr. Guo moved to Shandong in 2002 to embark on his entrepreneurial journey. He participated in the research and development of the Company’s core products, including PICC devices, cranial external drainage products, and surgical drainage products. He was responsible for project initiation planning and the establishment of the production system, built a professional team for production management and technology, and established standardized production lines for medical catheter series. He led the team in completing project approvals and product registrations for the Company’s main products, established an advanced medical device production management system, and obtained ISO 13485 international quality standard certification as well as a series of domestic and international quality management and product certifications. He participated in the R&D of more than twenty patented technologies of the Company, and projects he presided over or participated in have received awards such as the Shandong Patent Award and the Shandong Science and Technology Progress Award.

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