Huarong Sci-Tech Completes Over RMB 100 Million Series A Financing Led by Bilinxing Investment, with Hygieia Capital as Exclusive Financial Advisor

VCBeat has learned that Huarong Kingsung Medical Technology (Tianjin) Co., Ltd. (“Huarong Kingsung”) recently completed its Series A financing round, raising over RMB 100 million. The round was led by Proxima Capital, with HAOYUE CAPITAL serving as the exclusive financial advisor for the transaction.This financing round marks the Group’s inaugural equity raise. Moving forward, the Group will continue to focus on the research and development of cutting-edge technologies, deepen the integration of industry, academia, and research, accelerate the conversion of innovative achievements into practical applications, and expedite its expansion into overseas markets, thereby contributing to the high-quality development of the healthcare industry.

Kingsung Medical Group is a National High-Tech Enterprise, a Tianjin “Specialized, Refined, Differential, and Innovative” (SRDI) Enterprise, a Tianjin Municipal Enterprise Technology Center, and a Leading Enterprise in Regional Strategic Emerging Industries. The group focuses on two core sectors: high-end microsurgical medical devices and innovative biomaterials. Leveraging four major technology platforms—mechanical design, biodegradable magnesium alloys, polymer materials, and collagen-based biomaterials—the group continues to achieve breakthroughs in microsurgery, orthopedics, oral and maxillofacial surgery, plastic surgery, and regenerative medicine.

Kingsung Medical collaborates with Central South University in industry-academia-research synergistic innovation. Its technology stems from the national “863” Strategic Layout and features a globally exclusive patented formulation. The company’s independently developed biodegradable magnesium alloy bone fixation screws received the National Medical Products Administration (NMPA) Innovative Medical Device Approval in 2025, becoming the first domestic product of its kind to obtain this certification. By precisely controlling the degradation rate, biodegradable magnesium alloy technology ushers in a new medical era of “actively degradable and absorbable implants,” eliminating the need for secondary surgeries after fracture healing and breaking overseas technological monopolies.

Kingsung Medical has been deeply engaged in the field of microsurgery for many years. Leveraging its precision mechanical design technology platform, the company has independently developed high-end instruments such as microvascular anastomosis devices and skin fixation tension-controlled suturing devices, forming a comprehensive series of microsurgical solutions and maintaining a long-term leading position in the industry. Its core product, the Kople Microvascular Anastomosis Device 2.0, has broken the long-standing monopoly held by foreign manufacturers. With a manufacturing precision of 0.003 millimeters, it achieves a 100% intraoperative vascular patency rate, significantly shortening surgical time and reducing the risk of complications. The product has been widely adopted by major medical institutions, and the company is accelerating efforts to obtain CE and FDA certifications while advancing the research and development of its second-generation products.

On the Company’s Founding Mission and R&D Breakthroughs,Liu Lina, Founder and Chairman of Kingsung MedicalHe candidly stated, “Since the company’s inception, we have firmly chosen a ‘difficult yet right’ path—starting from source-level material innovation and precision mechanical technology to address genuine unmet clinical needs. We are well aware that the true value of a product lies not in how impressive its laboratory data may be, but in its ability to tackle challenging problems in the operating room and genuinely support surgeons. The successful development of our microvascular anastomosis device demonstrates far more than just the capability of domestic enterprises to manufacture precision instruments; more importantly, it proves that even in niche sectors with high barriers to entry and strong clinical relevance, domestic companies are fully capable of developing high-quality products that earn clinical recognition.”

To date, Kingsung Medical has accumulated more than 180 authorized patents domestically and internationally. The company serves as a standing director unit of the Microsurgery Branch of the China Association for Medical Devices Industry, a Tianjin Enterprise Technology Center, and a member unit of the Chinese Society for Biomaterials, among other roles. Leveraging its substantial technical barriers and industry influence, the Group continues to engage deeply in the construction of the industry ecosystem, committed to providing internationally competitive innovative solutions for advancements in surgical clinical practice.

Liu Lina, Chairman and Founder of Kingsung Medicalstated that this round of financing represents a significant milestone in the development history of Kingsung Medical. We extend our gratitude to Proxima Capital for its trust and support, and to HAOYUE CAPITAL for its professional and efficient financial advisory services. Leveraging this financing opportunity, we will further consolidate our technological leadership in biodegradable magnesium alloys and microsurgical instruments, accelerate the clinical registration and global commercialization of innovative products, and strive to become a leading enterprise in the global high-end medical device sector.

Sun Xiaolu, Founder and Managing Partner of Proxima CapitalProxima Capital stated that it has long been dedicated to incubating, investing in, and developing outstanding next-generation medical technology innovation enterprises with significant potential. Identifying genuine entrepreneurial teams and providing them with comprehensive support lies at the core of all our efforts. We have been deeply impressed by the long-term vision of the Kingsung Medical team, led by Mr. Liu, as well as their exceptional capabilities in product selection, research and development, and market expansion within the field. The company has demonstrated profound technical expertise, deep clinical insights, and strong industrialization capabilities in the areas of biodegradable magnesium alloy materials and microsurgical instruments. We also align with the company’s strategy of driving device upgrades through material innovation and empowering complex surgeries with precise microsurgical technologies. This sector faces substantial and urgent unmet needs, offering immense market potential. Moving forward, Proxima Capital will continue to provide strategic support, assisting the company in obtaining regulatory approvals for its core products and achieving global commercialization, thereby helping it grow into a leading enterprise in the fields of microsurgery and innovative materials.

Li Qinghua, Managing Director at HAOYUE CAPITAL“It was a great honor to accompany and support Kingsung Medical throughout this financing round. The core team, led by Mr. Liu, not only possesses solid technical expertise and professional clinical insights but also demonstrates forward-thinking international strategic planning, with particularly outstanding efficient and pragmatic execution capabilities. We are optimistic about Kingsung Medical’s development prospects and believe that, bolstered by capital investment, the company will steadily expand its global footprint and establish itself as an internationally renowned benchmark for Chinese innovative enterprises.”

Proxima Capital is a renowned investment institution in the medical technology industry, managing multiple RMB and USD funds with a total scale of nearly RMB 5 billion. Proxima Capital focuses on promoting the clinical application of breakthrough medical innovations. It has invested in more than 70 companies and led or assisted in the establishment of over 30 enterprises, covering high-end medical devices, innovative drugs, life science instruments, and digital health. The firm’s funds have supported more than 200 innovative products, among which over 50 are global first-in-class, more than 60 have obtained registration certificates from the National Medical Products Administration (NMPA), and dozens are undergoing global market expansion. With “comprehensive empowerment + strategic integration” as its core strategy, Proxima Capital builds an internationally leading ecosystem for medical technology innovation, continuously creating long-term clinical value for society.