17 Months Later, Jinjiang Electronic Restarts Its IPO Journey.

The CSRC website shows,Jinjiang Electronic has completed the tutoring and filing registration at the Sichuan Securities Regulatory Bureau on November 12, 2025, planning to make its initial public offering (IPO) of Renminbi ordinary shares (A-shares) and list. The tutoring broker isCITIC Securities。

Founded in 2002, Jinjiang Electronic is a national high-tech enterprise among the first batch in China that focuses on the research, development, production, sales, and service of high-end medical devices and consumables in the field of cardiac electrophysiology. After more than two decades of development, the company has become a leading enterprise in China's cardiac electrophysiology sector, providing safe and efficient comprehensive diagnosis and treatment solutions for patients with rapid arrhythmia worldwide.

In 2020, 2021, 2022, and January-June 2023, the company's operating revenues were RMB 41.339 million, RMB 60.6159 million, RMB 59.159 million, and RMB 39.4197 million, respectively; net profits were RMB 24.725 million, -RMB 16.5897 million, -RMB 1.0424 million, and -RMB 40.1691 million, respectively; non-GAAP net profits attributable to parent company were RMB 2.0439 million, -RMB 3.601 million, -RMB 3.4669 million, and -RMB 40.5825 million, respectively.

Jinjiang Electronic's previous application for the STAR Market IPO included the fundraising projects "Jinjiang Electronic Medical Device R&D and Technology Center Construction Project," "Jinjiang Electronic Medical Device Production Base Project," "Jinjiang Electronic Marketing Network and Marketing Capability Construction Project," and "Supplementary Working Capital," with a planned fundraising amount of 2.691 billion yuan.

Jinjiang ElectronicCompleted the latest round of financing in July 2022, introducing external investors, with a post-investment valuation of RMB 4.9145 billion.

Li Chuya is a director and vice general manager of Jinjiang Electronic, one of the founders and core technical personnel. From January 1978 to March 1997, she worked at a certain research institute of the General Staff Department, serving as an assistant and engineer, and was deeply involved in the research and development of military communication equipment.

Li Chuying, as a core member, participated in the development of China's first fully digital multi-channel physiological recorder in 1997.In 2004, Li Chuya successfully developed the HL-100G Radiofrequency Ablation Instrument for the well-known American medical device company, C. R. Bard.

PFA Technology as One of the Core Frontier Technologies in the Electrophysiology Field is Expected to Achieve Rapid Growth in the Next 5-10 Years, with Broad Development Prospects for the Industry. In the traditional electrophysiology ablation field, key equipment in China is relatively backward, and the market has long been dominated by foreign brands. Jinjiang Electronic, as a representative enterprise of new productive forces in domestically produced medical devices in China, has made breakthroughs.“Chokehold”The technology not only effectively reduces the cost of surgery but also promotes the popularization of related technologies in grassroots hospitals, improving treatment accessibility.

With a mature magnetic and electric fusion three-dimensional system, Jinjiang Electronic can directly and seamlessly connect with the former in the development of PFA.At the same time, based on the technical foundation of the consumables product Cardima, the catheter can be made finer and smaller, with sufficient space to install positioning sensors, giving it a first-mover advantage in the industry.

It is reported that Jinjiang Electronic's PFA product is pulsed ablation under full magnetic positioning three-dimensional mediation, which has the following advantages:

Safer

PFA is a non-thermal ablation method that does not generate heat, causes virtually no heat-related damage, and is highly selective, sparing surrounding tissues from injury.For the X-ray exposure issue that both doctors and patients care most about, it can also be observed clinically that, except for a small amount of exposure required during the interatrial septum puncture and the puncture process, Jinjiang Electronic's PFA system is basically close to zero radiation. This ensures safety and effectiveness while significantly reducing X-ray exposure time, greatly benefiting both doctors and patients.

At the same time,Based on the three-dimensional platform combined with pulsed ablation, it is possible to achieve modeling, mapping, ablation, and validation in one single catheter for the entire procedure.The surgical procedure is simpler and smoother, doctors no longer need to perform multiple punctures, place multiple sheaths, or repeatedly exchange catheters.

More Efficient

The circular multi-electrode ablation catheter launched this time is used for the ablation and isolation of bilateral pulmonary veins.It belongs to simultaneous multi-point discharge, with each discharge taking only 0.3 milliseconds. Compared to radiofrequency and cryoablation, the duration is shorter and the efficiency is higher.At the same time, under the real-time mediation of the three-dimensional mapping system, the ablation effect can be immediately displayed, and supplementary ablation can be performed immediately on problematic areas.

More Comfortable

The entire surgical process can optimize parameters for patient comfort. The surgery is performed under local anesthesia, without significant pain or irritation, allowing the patient to comfortably complete the procedure.

More convenient

PFA is not particularly demanding in terms of contact requirements. The design of the circular catheter also aligns with the operating habits of most doctors today.To be able to complete atrial septal puncture, one can basically master the operational skills quickly, and the circular catheter does not need to use saline infusion throughout the surgery.Not only does it simplify the surgical process, but it also has advantages for patients who cannot tolerate saline.