Tencent-Backed Vascular Intervention 'Little Giant' Boma Medical Files for ChiNext IPO

2025The Medical Device Capital Market Sees a Surge at Year-End, with Multiple Companies Rushing to LaunchIPO。

12Month24Date, BrosMed Medical Co., Ltd. (referred to as“BrosMed Medical”) Growth Enterprise MarketIPOThe application was accepted by the Shenzhen Stock Exchange, with CICC serving as the sponsor institution, alongside17Fundraising Plan of 100 Million YuanImpact the capital market.

This globally distributed company, with products sold far and wide100Vascular Intervention Track in More Than 10 Countries“Little Giant”, backed by Tencent Ventures, Hillhouse Capital,IDGCapital and other top-tier institutions, marking another significant exploration for domestically-produced high-end medical devices striving to enter the capital market.

Prospectus Breakdown: The Current Profile of BrosMed Medical

From the information disclosed in the prospectus, BrosMed Medical's core positioning is the research and development, production, and global sales of high-performance vascular interventional medical devices, focusing on providing interventional treatment solutions for complex vascular diseases. The company is also recognized as a national high-tech enterprise and a specialized, refined, and innovative enterprise.“Little Giant”Enterprises, manufacturing single-item champion enterprises, and other multiple qualifications endorsement, with technology and industry status officially recognized.

As of the date of signing the prospectus, the company has been listed. 7 A product that is a global first or possesses unique innovative technology; at the same time, the company, as the sole completing entity, was honored with2020 Annual Guangdong ProvinceSecond Prize of Science and Technology Progress Award, and another 12 The product has been recognized as a prestigious high-tech product in Guangdong Province, with more than XX authorized domestic and international invention patents.80Item, laying a solid foundation for continuous innovation.

At the operational level, the company currently presents“High Growth and Risks Coexist”The pattern. The growth sector performed brilliantly,2022—2024The average annual compound growth rate of annual operating income reached48.98%，2025Revenue in the first half of the year has reached3100 million yuan, with strong growth momentum;

But the risks and hidden dangers cannot be ignored either. In addition to facing pressures on the asset and operation fronts, core risks such as the impact of centralized procurement policies, intensified market and technology competition, reliance on dealer channels, long R&D cycles, and uncertain regulatory approvals also need to be closely monitored.

Fundraising Prospect:17BrosMed Medical Co., Ltd.: Billion-Dollar Global Competitiveness Strategy

Based on the current development status, BrosMed Medical this time17Precision Targeting of the 100 Million Yuan Fundraising Plan“Consolidate Advantages+Breakthrough Bottleneck”, forming five core investment directions, clearly outlining the future3—5Years of development path.

Among which9BrosMed Medical Co., Ltd. to Invest in the Songshan Lake Global Headquarters Project, Focusing on Building a Global R&D Center and Advanced Manufacturing Base, Integrating Existing Global...5R&D center resources, improve the production efficiency of high-end products at scale, and address the current issue of insufficient synergy between production capacity and R&D.

1.6Million yuan for the first phase of the technical transformation project of the Hunan production base, focusing on the scaled production of key components, reducing reliance on external procurement, improving the independent and controllable capabilities of the industrial chain, and addressing the current low inventory turnover efficiency.

4.5Invest billions in specialized funding for the research and development of interventional medical devices, with a focus on breakthroughs in cutting-edge fields such as neurointervention and high-end peripheral vascular products, to fill gaps in existing product lines and create new growth opportunities.

Remaining900010,000 Yuan and1The hundred million yuan will be used for marketing network construction and replenishment of working capital. The former will expand domestic and overseas service teams and regional offices to strengthen global market coverage, while the latter will optimize cash flow structure and alleviate repayment pressure caused by a high asset-liability ratio.

From the perspective of industry opportunities, this fundraising layout coincides with the golden development period of the vascular interventional device industry.

The intensification of global population aging is driving a continuous rise in the incidence of coronary heart disease and peripheral arterial disease. The market size of China's general balloon dilation catheters for coronary arteries is expected...2030The annual market size will climb to35.3Hundred MillionYuan,2024Year to2030The compound annual growth rate over the years is10.8%。2035 The annual market size is expected to reach49.2 100 Million Yuan，2030 Year to2035 The compound annual growth rate over the years is6.9%；

At the policy level,“14th Five-Year Plan”The development plan for the medical equipment industry lists high-end vascular interventional devices as a key breakthrough direction. BrosMed Medical's fundraising investment aligns closely with industry trends, and it is expected to achieve rapid development by leveraging policy benefits and market expansion.

Product and Market: Global Breakthrough of China-Made Products

The product matrix is one of the core competencies of BrosMed Medical, which has currently been established.Covering five key areas: coronary intervention, peripheral intervention, neurointervention, hemodialysis access, and interventional accessories.50More than 10 product series，Nearly a Thousand Product CombinationsCan meet the diversified clinical needs from routine treatment to complex cases.

Among them, the coronary high-pressure cutting balloon catheter (RevoedgeTMArmor-PiercingTM), Peripheral Vascular Scoring Balloon Catheter (Tri-WedgeTMTriceratopsTM), etc.7This product is a global first or features unique innovative technology, breaking the monopoly of international giants in the high-end balloon catheter field, and its technical strength has gained industry recognition.

In terms of market layout, the company has achieved“Leading in China+Global Breakthrough”The dual effectiveness. The product has been marketed globally.100More than 100 countries and regions, serving over ten thousand hospitals and medical centers, establishing a presence beyond China.200Home, Near China800A global marketing network of home dealers.

The export volume of the core product, coronary balloon catheters, has long ranked first among Chinese brands and has successfully entered high-end markets such as the U.S. and Japan; according to Frost & Sullivan data,2024In ... the company in9.6%The market share ranks fourth in China's coronary artery balloon dilation catheter market (first among domestically produced brands)., to4.7%The share has ranked fifth in the Chinese peripheral artery balloon dilation catheter market, with the total production and sales share of domestically produced brands exceeding50%, accounting for75%The above has become the core force of domestically produced alternatives.

Finance and Capital:IPOThe Core Support

Financial data shows the company's strong growth resilience, providingIPOLay the foundation for the process.

2025In the first half of the year, the company's revenue and net profit reached3.03Million Yuan and3565Ten Thousand Yuan, maintaining a steady growth trend, with the net cash flow from operating activities consistently positive,2024Year Reach9925.6210,000 yuan, far higher than the net profit in the same period, reflecting a strong cash-generating ability of the main business.

The continuous support from the capital market hasIPOInject a strong stimulant into the process. Since2013Since the first round of financing at the end of the year, BrosMed Medical has completed four rounds of financing, with capital recognition throughout the entire development cycle.

2013End of the year to2014At the beginning of the yearAThe round of financing laid the foundation for early-stage R&D,2015YearBRound of financing boosts product pipeline expansion,2020During the pandemic in 2020, it was completed in just4Million yuan in just a few monthsCRound of financing (led by Hillhouse Ventures), demonstrating the market's firm recognition of its technical value.2025Year6MonthDIn the round of financing,IDGTop-tier institutions such as capital jointly entered the market, and submitted after half a year.IPOApplication, significant capital boost effect.

Notably, Tencent has invested over190Home enterprises, win6A medical device certification, this investment is not accidental but an important step in deepening the layout of the high-end medical device track. In the future, it will bring BrosMed Medical technical synergy and ecological resource support beyond capital, further enhancing...IPOPotential for future development.

Industry Mirror: The Breakthrough Enlightenment of Single-Category Leaders

As the leading company in the single-category field of vascular intervention, BrosMed Medical's path to going publicYesDraw experience from the development process of similar enterprises.

The逆袭 case of BrosMed Medical, the leading orthopedic single-category company, is highly referential:2017After its listing in the year, BrosMed Medical became a heavyweight institution with its core product technology advantages.“BrosMed Medical”, with a peak market value of198100 million yuan, the stock price has cumulatively increased from the offering price9.2Times; but2021After the implementation of the annual orthopedic consumables centralized procurement policy, the company's revenue plummeted year-on-year.28.09%`, Net Profit Plummets`86.3%, Market value shrank by more than80%。

Facing the crisis, BrosMed Medical achieved a breakthrough through three major strategies: increasing market share by exchanging price for volume in the centralized procurement re-tendering, and promoting the market share of domestically produced products.43%; Expanding minimally invasive surgery, dentistry and other non-orthopedic businesses to build multiple growth engines; Accelerating overseas layout, with products exported far and wide60Multiple countries and regions.

With these initiatives, the company2024Year-over-year revenue growth39.29%, Net Profit Surges505%，2025Revenue for the first three quarters of the year18.76100 Million Yuan, Net Profit Attributable to Shareholders4.25100 million yuan, representing year-on-year growth of22.69%、77.03%, successfully emerging from the shadow of centralized procurement.

In contrast, other leading companies in single-product categories during the same period, such as Chunli Medical and Sanyou Medical, were once deeply trapped in a situation of increasing revenue but not profits.2025Since the year, the differentiation has intensified. Enterprises that actively expand new businesses and overseas markets have gradually recovered, while those sticking to a single track continue to face pressure.

This industry differentiation trend provides BrosMed Medical with a core insight: after going public, it needs to proactively respond to policy changes such as centralized procurement, and plan its product portfolio and pricing strategy in advance; avoid over-reliance on a single category, and leverage fundraising to accelerate the deployment of new sectors like neuro-intervention; continuously strengthen its overseas advantages, further expand into high-end markets, and diversify the risks associated with a single market.

Conclusion: The Capitalization Exploration of China-Produced Medical Devices

Backed by star capitals such as Tencent, BrosMed Medical's journey to the ChiNext board epitomizes how China's high-end medical device industry leverages the capital market for upgrading.

In the future, if BrosMed Medical can effectively transform its fundraising efficiency, continuously strengthen its core technology barriers, balance the rhythm of domestic substitution and global expansion, and properly respond to industry competition and policy changes, it is expected to become a leading Chinese medical device manufacturer.“Go Global”The benchmark enterprise.