Boyi Era Files IPO Prospectus: Eight Years of Dedicated R&D to Build a World-Leading Minimally Invasive Surgery Training Platform

Minimally invasive surgery has long been an ideal pursued in the field of surgical practice.

With the continuous advancement of science and technology, minimally invasive techniques have undergone rapid development over the past decade and have been widely applied in the diagnosis and treatment of diseases in general surgery, urology, obstetrics, and gynecology.

However, on one hand, it takes a considerable amount of time for minimally invasive surgery physicians to master this technique, and the learning cost is high, making it difficult for them to be competent in clinical minimally invasive surgical procedures in the short term. On the other hand, many highly educated medical professionals often lack proficiency in surgical skills, leading to a frequent disconnect between knowledge and practical ability.

The traditional clinical “master-apprentice” training model can no longer meet the learning and development needs of minimally invasive surgeons or the quality control requirements for minimally invasive surgeries, making “learning by doing on patients” a regrettable compromise.

To address these issues,Beijing Boyi Times Education Technology Co., Ltd. (hereinafter referred to as “Boyi Times”) has launched its series of minimally invasive surgery training systems, with the mission to “empower physicians worldwide to perform safe surgeries and contribute to public health.”

The “Minimally Invasive Surgery Training System” serves as a flight simulator for physicians, enabling them to accumulate substantial clinical experience in a short period. In recent years, medical education, medical simulation-based education, and the digitalization of medical education have received significant attention and robust support from the state, with continuous increases in both fiscal appropriations and institutional matching investments.

Amid the industry’s upward trend, medical device companies, specialized software firms, and startups continue to enter the market, with various participants adopting different strategies to compete, such as developing virtual technologies and silicone-based human anatomical simulation models.

However, current training products based on 3D and AR technologies suffer from a significant gap between simulated scenarios and real-world clinical conditions, making it difficult to ensure training efficacy. Meanwhile, silicone simulators fail to provide a dynamic blood environment, resulting in training that addresses only the symptoms rather than the root cause.

Boyi Times adopts the“Realistic, Precise, Convenient”the R&D philosophy, its independently developed minimally invasive surgical training system, serving as a platform for skills assessment and accumulation, can highly restore realistic surgical scenarios, achievingNon-viable (ex vivo animal organs)rapidly and comprehensively enhance physicians’ various minimally invasive surgical skills in a simulated environment, and through rigorous training and assessment, assist each physician in performing precise surgeries, thereby ensuring patient safety.

Boyi Times Minimally Invasive Surgery Training System Display. Image source: Corporate official website

In terms of hardware facilities, Boyi Times combines ex vivo organ arterial perfusion with real surgical equipment and instruments to simulate a realistic surgical environment featuring blood flow and adjacent organs. By employing a fully 1:1 surgical imaging system, instruments, and energy devices, it ensures high fidelity in tissue elasticity, perfusion, anatomy, visualization, and procedural steps, thereby maximizing the alignment of training outcomes with the skills required for human surgery.

For physicians, such a training system is easy to operate, offers an intuitive experience, and is highly practical. In terms of the supply of ex vivo animal organs, Boyi Times has establishedIndependent Factory, ensuring standardized production, maintaining cold-chain transportation throughout the entire process, and placing the training kit in frozen storage upon timely delivery for convenient access during training sessions.

Software Support, the Boyi Times Minimally Invasive Surgery Training System, powered by a teaching app, supports functions such as online appointment scheduling, remote guidance, intelligent management of organ modules, duration ranking, performance sorting, cloud storage of training videos, and big data analysis of technical competencies, thereby providing trainees with real-time training feedback and review guidance.

Boyi Times has established a comprehensive training system in accordance with international standards, drawing on the advanced and systematic training frameworks of the United States, Europe, and Japan. With a faculty composed of numerous leading domestic experts, the company has developed over 1,000 teaching modules covering six major medical departments, more than 80 surgical procedures, and over 150 training programs.

It is reported that the skills mastered by surgeons performing their first operations account for less than 30% of the skills required for human procedures, andBoyi Times’ comprehensive skills training covers more than 80% of the skills required for human surgery.。

Bayannur City Hospital in Inner Mongolia is one of the medical institutions that have adopted the minimally invasive surgical training system developed by Boyi Times. Yang Zhiping, the hospital’s president, previously stated that this system has revolutionized traditional training models. By providing realistic surgical scenarios, it delivers more precise and convenient minimally invasive surgery training to healthcare professionals, helping physicians comprehensively enhance their precision surgical skills. This approach benefits the hospital by accelerating the development of talent pipelines, ensuring the quality and safety of medical care, and reducing operational costs, ultimately enabling the provision of higher-quality medical services to the public. This aligns with the core objectives of healthcare reform.

In fact, Boyi Times has alreadyPartnered with nearly 100 hospitals, cumulatively trained over 1,000 physicians, covering hospitals at all levels and of all types, from county-level primary care institutions to top-tier Grade 3A hospitals, and from public to private facilities, empowering physicians at various career stages, including resident physicians (standardized residency trainees and master’s degree candidates), attending physicians (specialty training fellows and doctoral candidates), associate chief physicians and above, and department directors.

Boyi Times has established targeted training objectives and curricula for physicians at different stages, complemented by a high-standard examination system to ensure the quality of training outcomes and facilitate the achievement of“Standardization and Homogenization of Minimally Invasive Surgery”the goal of aligning with the national direction of promoting tiered diagnosis and treatment and controlling health insurance expenditures.

Actual data show that using the Boyi Times minimally invasive surgical training system can reduce the hands-on practice required for a qualified minimally invasive surgeonTraining Cycle Reduced by 75%, and resident physicians trained via simulation systemsSuperior surgical quality, significantly reduced complications, and a 50% reduction in operative time.

Boyi Times focuses on dual teaching management of surgical proficiency and accuracy, empowering surgical trainees to generate greater social value. This approach can significantly improve the utilization rate of operating rooms and surgical equipment, while reducing wear and tear on surgical instruments and labor costs. Ensuring surgical quality also helps minimize doctor-patient disputes, effectively enhancing the hospital’s brand image and increasing positive word-of-mouth from patients.

“Ma Xiaowei, Director of the National Health Commission, once stated that the realization of tiered diagnosis and treatment would mark the success of China’s healthcare reform. Currently, intelligent technologies such as medical laboratory testing and imaging diagnostics have been widely advanced and developed; however, there remains a significant deficiency in surgical capacity building. Therefore, we must establish training standards and systems for surgeons that are leading not only in China but also globally, thereby truly achieving the goal of managing serious illnesses at the county level and realizing tiered surgical treatment, to the benefit of a broader population.”

“The person who said this is none other than Mr. Song Wenjie, Founder and Chairman of Boyi Times.”

Song Wenjie’s life has never strayed from the healthcare industry.

In 1979, Song Wenjie was successfully admitted to the Clinical Medicine program at Binzhou Medical College in Shandong Province. Upon graduation in 1983, he was assigned to work at the 407th Hospital of the Chinese People's Liberation Army (Naval Yantai Hospital). It is worth noting that in the 1980s, university students were regarded as “the pride of heaven”; a bachelor’s degree was already rare, and a master’s degree was even more uncommon.

In 1988, Song Wenjie decided to challenge himself. Through diligent study, he was successfully admitted as a graduate student in Gastroenterology at the Chinese PLA Postgraduate Medical School for advanced professional training. After graduation, he joined the Department of Gastroenterology at the PLA Navy General Hospital, where he actively promoted minimally invasive endoscopic therapeutic techniques.

It is evident from Song Wenjie’s resume that he has consistently strived for professional advancement. After several years of work, he joined the first wave of physicians leaving the public sector to embark on entrepreneurial ventures in 2000. Song also left the state system to enter the business world, joining Olympus, a global giant in medical devices, where he was responsible for marketing and remained for over a decade, accumulatingExtensive experience in corporate strategic planning, market analysis, and enterprise management.

In 2014, Song Wenjie resolved to start his own business and established Boyi Times, aiming to benefit the public and create greater social value.

Over a decade of clinical practice has given Song Wenjie a profound understanding of the pain points in surgical skills training. His innate intuition and sensitivity toward physicians’ growth trajectories and thinking patterns have played a crucial role in steering the product direction of Beijing Boyi Times Education Technology Co., Ltd.

Furthermore, through long-term exchanges with leading surgical experts both in China and abroad,Song Wenjie has developed a highly sophisticated and professional understanding of surgical training, integrating it throughout the entire product lifecycle from research and development to application.“Prior to the establishment of Boyi Times, we had already spent six years studying surgical training practices in many countries, including the United States, Germany, and Japan. To better enable surgeons to perform safe procedures, we dedicated ourselves to developing this comprehensive minimally invasive surgical training system. This year marks the eighth year of diligent development and repeated validation of its training efficacy; only after everything was fully ready did we decide to enter the market.”

Over the past few years, Boyi Times has been dedicated to product development and market validation, earning a strong reputation in the industry. Moving forward, the company will implement five major strategies: business strategy, talent strategy, marketing strategy, R&D strategy, and capital strategy.

In terms of operations, the focus is on industrial upgrading, including the integration of AR, MR, and AI technologies to develop more intelligent and automated training equipment. The long-term goal of Boyi Times is to collaborate with top-tier industry experts and professional associations to build a platform for surgical training and information management, empowering physicians worldwide to perform safe surgeries.

Boyi Times is a national high-tech enterprise certified as both a “Double-Soft” company and a “Specialized, Refined, Differential, and Innovative” (SRDI) enterprise. The company has established a stable team, with the majority of its core members possessing medical backgrounds. It also boasts robust R&D capabilities through dedicated teams in film production, IT, and hardware development. In the future, Boyi Times plans to recruit top-tier professionals in finance, legal affairs, human resources, and other fields to build a strong operational management system and continuously expand its team size.

In terms of market presence, Boyi Times has divided the Chinese market into five major regions and will establish 148 training centers. In addition to its Beijing headquarters, Boyi Times officially established subsidiaries in Jinan, Baotou, Shenzhen, Xi’an, and Wuhan in 2021, with subsidiaries in Shanghai and Shenyang currently under construction. The company expects to achieve 100% coverage of the national minimally invasive surgical training market within two years.

Meanwhile, Boyi Times will continue to increase its R&D investment. In addition to the existing surgical training programs for six major specialties, the company will expand its training system to cover respiratory medicine, cardiac surgery, neurosurgery, ophthalmology, and otolaryngology. “The number of surgical procedures covered will double. We are not only broadening the scope of procedural coverage but also deepening our expertise,” added Song Wenjie.

Signing ceremony between Mr. Song Wenjie, Chairman of Boyi Times, and Mr. Zhong Ming, Chairman of Kangji Medical

Finally, in terms of capital, on March 30 this year, Boyi Times signed a strategic cooperation agreement with Mr. Zhong Ming (Chairman of Kangji Medical) and completed an equity financing of nearly RMB 100 million in Series A.

Regarding this round of financing, Song Wenjie stated, “We are deeply grateful for Mr. Zhong Ming’s endorsement. Moving forward, we will jointly focus on social value, collaboratively advance surgical techniques, and drive industrial upgrading. Together with experts and entrepreneurs across the industry, we aim to empower physicians worldwide to perform safe surgeries and contribute to public health!”