December 30, 2025Sinovation, China's leading innovator in neurosurgical medical devices, has completed the filing for its initial public offering (IPO) and listing tutoring, officially launching preparations for its STAR Market listing., with Guotai Haitong Securities as the tutoring institution. This push into the capital market marks that this company, which has been deeply engaged in the field of neurosurgical precision medicine for a decade, will enter a new phase of industrial development and global layout.

Sinovation, established in 2015, focuses on the independent research and development, production, and technical services of intelligent innovative medical devices. Its core business is to provide comprehensive technology and product solutions for the treatment of brain diseases. The company's three founders, Wang Ke, Liu Wenbo, and Wu Di, graduated from the Peking University Health Science Center, Tsinghua University's School of Biomedical Engineering, and the Xi'an Jiaotong University Health Science Center, respectively. They have formed a core team with backgrounds in engineering, clinical medicine, and industrialization, laying a solid foundation for technological innovation and clinical transformation.

Relying on in-depth cooperation with top medical institutions and scientific research institutes such as Tiantan Hospital, Xuanwu Hospital, and Tsinghua University, Sinovation has built a strong R&D and transformation system. To date, the company owns more than 260 core national invention patents, with 7 products entering the Special Review Procedure for Innovative Medical Devices. It has cumulatively obtained 11 NMPA Class III medical device registration certificates and over 30 products have received overseas certifications such as FDA approval. This has resulted in a full range of product lines covering neurosurgical robotic systems, surgical navigation, LITT laser ablation systems, intracranial electrodes, and robotic surgical microscopes, establishing the company as a benchmark enterprise in the field of precision neurosurgery in China.

Complete Important Acquisition

During the D-round financing in 2022,Sinovation simultaneously completed the full acquisition of Sinovation, successfully expanding its product line to the intracranial electrode field.

Moreover, Sinovation, which was acquired, has also been making continuous efforts. Its self-developed, China-produced pioneering deep brain electrodes received FDA certification in November 2025.Become the first domestically-produced product in China and one of the very few globally to simultaneously obtain dual certifications from China's NMPA and the U.S. FDA.With a diameter of only 0.8mm, this electrode boasts globally leading signal acquisition precision. It enables epilepsy focus localization and brain function mapping through minimally invasive methods, effectively breaking the monopoly of imported products and providing a revolutionary tool for the diagnosis and treatment of drug-resistant epilepsy.

In recent years, Sinovation has entered a period of intensive harvest of innovative results, with continuous iteration and upgrading of its software and hardware products.

In the software field, SinoPlan™, a neurosurgical planning software independently developed by the company, was approved for marketing in 2024.Becoming the first surgical planning software for brain surgery in China with independent intellectual property rights，Supporting preoperative planning for various devices such as stereotactic instruments, surgical robots, and surgical navigation, achieving a breakthrough in one-stop multi-modal surgical planning solutions.

In the hardware field, on August 7, 2025, the new generation 7-axis robotic surgical microscope ES-100 officially received NMPA approval for marketing. With the multi-mode intelligent follow-up function of the 7-axis flexible collaborative robotic arm, the distortion-free 100x magnification effect of the 4K-3D ultra-clear external visualization system, and the 3D enhanced fluorescence angiography technology, this product can efficiently empower precise operations in multiple scenarios such as brain tumors, cerebrovascular diseases, and skull base surgeries, promoting the precision upgrade of neurosurgery and related specialized surgeries.

June 2023,Sinovation's Self-Developed and Produced World's First 3D Structured Light Registration Neurosurgical Robot Receives FDA Approval for Market Launch; This System is the World’s First Surgical Robot Developed by a Chinese Company and Approved by the FDA for Use in Neurosurgery, marking that the availability and application level of China's neurosurgical surgery robots have gained international authoritative recognition.

Behind Sinovation's Push for the STAR Market: The Structural Scarcity Opportunity in China’s Neurosurgical Precision Medicine Field Marked by "High Demand, High Barriers, and Low Supply"

At the same time, the aggravation of China's aging population has driven a continuous rise in the incidence of brain diseases such as brain tumors, cerebral hemorrhage, and epilepsy. The clinical demand for precise and minimally invasive neurosurgical operations is becoming increasingly urgent. However, high-quality neurosurgical medical resources are concentrated in a few top hospitals, and the ability of grassroots medical institutions to perform precise surgeries is severely insufficient, further amplifying the scarcity value of highly compatible innovative instruments. According to industry data, surgical robots have become one of the fastest-growing and most strongly policy-supported sectors in China’s high-end medical device industry. By 2024, the market size in China has exceeded 10 billion RMB, maintaining an annual compound growth rate of over 14.8%. It is expected to reach 18.88 billion RMB by 2025. Among this, the neurosurgery segment, bolstered by its technological scarcity, is growing at a rate far exceeding the industry average, becoming the core growth engine of the sector.

In this niche track, Sinovation's market prospects are particularly broad, with its core competitiveness lying in filling the supply gap for high-end domestically produced neurosurgical instruments. Compared to the traditional model that relies on imported equipment, Sinovation’s products not only achieve breakthroughs in technical performance but also precisely meet clinical needs in China while offering advantages in cost control and localized services. The company has developed a full range of product lines, including surgical robots, laser ablation systems, and intracranial electrodes, serving over 200 medical institutions across China and benefiting more than 30,000 patients. It has achieved "China’s first domestic innovations" in several scarce categories such as intracranial electrodes and LITT systems, effectively breaking the import monopoly.

Following the launch of this IPO preparation, the company is expected to further expand its R&D investment and production capacity by leveraging the power of the capital market. It will continue to fill the gap in precision medical devices in grassroots healthcare institutions, solve the challenge of distributing high-quality medical resources to lower-level facilities, and lead China-produced neurosurgical devices to make a leap from "catching up" to "keeping pace."