Boao Jingdian Completes Over RMB 800 Million Pre-IPO Financing Round Led by Yi Kai Capital as Financial Advisor, Files for STAR Market IPO

CapitalBio Technology Inc. (hereinafter referred to as “CapitalBio”), a leading enterprise in China’s genetic testing and biochip sector, recently announced the completion of its Pre-IPO financing round, raising over RMB 800 million. The round was led by Guangdong Boyi Design Institute Co., Ltd. (hereinafter referred to as “Guangdong Boyi”) with an investment of RMB 400 million. Country Garden Ventures provided financial advisory services for Guangdong Boyi’s investment. Other investors in this round included Sinopec Capital, Meinian Onehealth Healthcare, Lianxin Capital, Hongma Investment, Jiaxing Qiao Equity Investment Partnership, Xiamen Newding Investment, Suzhou Youcai Huiying Investment Center, and Huzhou Jiasi Enterprise Consulting Services Office. CEC Capital served as the exclusive financial advisor to CapitalBio for this financing round and played a leading role in its completion.

The success of this funding round fully demonstrates the recognition by leading domestic funds of CapitalBio Technology Inc.’s leadership and growth potential in the fields of genetic testing and biochips, while also highlighting iCapital’s prominent position and deep service capabilities in the in vitro diagnostics sector.

Upon the completion of this round of financing, CapitalBio Technology Inc. will accelerate the research and development of new products and expand its chip production lines, thereby further optimizing its product portfolio in the fields of reproductive health, infectious diseases, and oncology. Meanwhile, the company will strengthen its sales team building and marketing efforts while expanding its overseas markets. With the support of these funds, CapitalBio will further consolidate its leading position in the fields of genetic testing and biochips, and initiate shareholding restructuring as well as the application for an initial public offering (IPO) on the STAR Market.

CapitalBio Technology Inc. is the industrialization platform of CapitalBio Corporation and the National Engineering Research Center for Beijing Biochip Technology, serving as a core enterprise of Tsinghua University’s strategic layout in the life and health sector. Currently, its subsidiaries include Beijing CapitalBio Medical Laboratory Co., Ltd., Dongguan CapitalBio Muhua Gene Technology Co., Ltd., Chongqing CapitalBio Xinjing Medical Technology Co., Ltd., and CapitalBio Yizhe Health Science and Technology (Beijing) Co., Ltd. Leveraging next-generation bio-detection technologies, the company has established a complete industry chain integrating R&D, production, sales, and nationwide third-party independent clinical laboratory services. It provides technical support and solutions to domestic and international clients in fields such as life science research, clinical diagnostics, new drug development, health management, forensic identification, agriculture, forestry, animal husbandry, and food safety. In alignment with the national health policy of “prevention first,” the company closely integrates modern medicine with Traditional Chinese Medicine, creating a comprehensive big health industry segment that encompasses health products, health management, medical rehabilitation, and big data.

As an industry leader, CapitalBio Technology Inc. is a pioneer in China’s biochip technology, a drafter of technical standards, and one of the domestic enterprises with the largest number of related technology patents and the most comprehensive qualifications and certifications. CapitalBio Technology Inc. possesses the world’s largest original biochip technology platform. It is the host institution for the National Biochip Standardization Committee and the Beijing National Engineering Research Center for Biochips, and it serves as a drafter of national and industry standards. The company has been granted more than 300 patents domestically and internationally, with a patent commercialization rate of nearly 50%.

As the provider of investment services for Guangdong Boyi this time, Sun Lianghao, Head of Big Health Business and Executive General Manager of Country Garden Venture Capital, stated, “CapitalBio Technology Inc. is a significant hallmark of life science research at Tsinghua University, having undertaken and participated in multiple national-level research projects, demonstrating strong scientific research capabilities. Its biochip technology currently ranks first in China and is world-leading, boasting the largest original biochip technology platform globally. The company has a rich product line covering various fields such as genetic diseases and birth defects, infectious diseases, oncology, and health management, with immense potential for future development.”

Li Gang, Partner at China Renaissance and Co-Head of the Healthcare Sector, serving as the investment banking advisor to CapitalBio Technology Inc., stated, “We are honored to serve as the exclusive financial advisor for CapitalBio Technology’s current round of financing, helping the company swiftly secure investors amid a capital winter. The China Renaissance Healthcare team looks forward to continuing to contribute to the development of more high-quality enterprises in the medical field.” Dr. Zhang Xiao, Managing Director of China Renaissance and Head of the Pharmaceutical Group, remarked, “We are greatly honored to have assisted CapitalBio Technology in completing this round of financing. Meanwhile, this transaction stands as one of the largest deals in China’s in vitro diagnostics (IVD) sector in recent years. Leveraging its profound industry expertise and transaction experience, the China Renaissance Healthcare team fully demonstrated its top-tier professional capabilities, facilitating the successful completion of this financing.”

Country Garden Ventures is a first-tier department of Country Garden Group engaged in equity investment, responsible for the Group’s external equity investment activities excluding real estate investments.

Country Garden Ventures strictly adheres to the “research-driven investment” philosophy, continuously focusing on high-quality projects and investment opportunities in healthcare, consumer goods, housing, AIoT, logistics, and supply chain sectors. The team members hail from top-tier domestic and international investment banks, funds, and other financial institutions, possessing a global perspective, deep industry expertise, and extensive investment experience. The core team has previously participated in investments totaling approximately RMB 11.6 billion, including well-known enterprises such as Penguin Almond, Beike Zhaofang, LandSpace, and Cefeiya Agricultural Technology.

China Renaissance was founded in 2000 and is a leading new-economy investment bank in China, focusing on the three major sectors of healthcare, consumer, and TMT. Headquartered in Beijing, the firm has branches in Shanghai, Los Angeles, and San Francisco, and holds a U.S. securities business license.

From 2017 to 2019, the total transaction value of financing and mergers and acquisitions deals in which China Renaissance participated exceeded RMB 100 billion. In addition to its investment banking business, China Renaissance entered the asset management sector in 2014 and is currently managing one RMB-denominated fund and one USD-denominated fund.

In the healthcare industry, China Renaissance boasts the largest, most specialized, and most comprehensively integrated investment banking team in the sector, along with a firmly established position of strong market leadership. For three consecutive years, it has ranked as the new-economy investment bank with the highest number of healthcare industry transactions in China.