HETANG Venture-Backed Core Medical's Sci-Tech Innovation Board IPO Accepted, Pioneering with Innovative Artificial Heart Portfolio

Core Medical is an innovative medical device company dedicated to providing more comprehensive, more innovative, and higher-quality artificial heart products. Since its establishment, the company has focused on addressing significant clinical needs for both acute and chronic heart failure. Relying on original innovations and breakthroughs in key core technologies, it continuously drives product iteration and upgrades in the artificial heart field.The company pioneered theThe core design concepts of "Time-Partition Dynamic Axial Full Magnetic Suspension Control Technology" and "Axial Magnetic Flux Multi-Drive Motor Technology" have been applied to the artificial heart field, establishing a comprehensive product matrix covering both implantable and interventional devices. This fully meets clinical needs ranging from "long-term → short-term, left ventricular → biventricular, pediatric → adult," bringing a new paradigm of "Made in China" innovation to the global artificial heart industry.

As of the date of this prospectus,The company has laid out5 implantable and 6 interventional artificial heart productsAmong them, one implantable product has been commercialized, two interventional products are in the registration approval stage, and multiple artificial heart products are in the clinical stage. A total of three core products from the aforementioned have been included in China's special review process for innovative medical devices, including the implantable left ventricular assist system Corheart®6, the implantable dual-heart assist system DuoCor®2, and the interventional ventricular assist system CorVad®4.0/6.0 series. The number of included products ranks first in China's artificial heart field.Corheart®6It is the company's first commercially available third-generation fully magnetically levitated artificial heart. In April 2023, it was awarded the "Important Medical Achievement of China in the 21st Century" by the Chinese Academy of Medical Sciences. It is currently the smallest and lightest commercially available magnetically levitated implantable artificial heart globally. Measured by terminal implant volume, its market share in China exceeded 45% in 2024, ranking first in the industry.DuoCor®2: Magnetically Levitated Integrated Dual-Heart Assist SystemIt has now entered the clinical stage, with the hope of solving the long-term treatment challenge of global "total heart failure";Interventional Ventricular Assist System CorVad®4.0/6.0 SeriesExpected to be approved for marketing in the first quarter of 2026, it is likely to become the first approved intra-cardiac assist device in China.

The Heart, as One of the Most Important Organs in the Human Body, is Vital for Sustaining Life"Engine"; "Artificial heart" is used to assist the heart, providing continuous and effective circulatory support when its pumping function is insufficient, stabilizing vital signs, and promoting cardiac function recovery. Heart failure (HF) is a chronic, progressively deteriorating disease characterized by high incidence and high mortality. According to the *Chinese Guidelines for the Diagnosis and Treatment of Heart Failure 2024*, the prevalence of HF in China's population aged 35 and above is 1.38%. According to Frost & Sullivan, there were nearly 63 million HF patients globally in 2024, with over 15 million HF patients in China. As HF progresses, cardiac function gradually shifts from compensated to decompensated states, with advanced HF often marked by repeated episodes of acute decompensated heart failure. Based on the developmental cycle of HF, the issuer has developed a comprehensive solution centered on "HF patients," offering safe and effective treatment options through implantable and interventional artificial heart products, providing long-term → short-term support.

The company focuses on"To meet the clinical scenario demands of 'short-term to long-term' circulatory support, Core Medical has developed a product portfolio comprising implantable and interventional artificial heart devices, aiming to provide a comprehensive treatment solution for critically ill patients. As of the date of this prospectus, the company has laid out a portfolio of 5 implantable and 6 interventional artificial heart products, among which 1 implantable product has been commercialized, 2 interventional products are in the registration approval stage, and several other artificial heart products are in clinical trials, as detailed below:"

As approved by the 13th meeting of the First Board of Directors of the CompanyAt the fourth extraordinary shareholders' meeting in 2025, it was reviewed and approved that the Company plans to issue no more than 90,000,000 A-shares (excluding the number of shares issued under the over-allotment option).The proceeds of this offering (after deducting issuance expenses) will be invested in the following projects: R&D of cutting-edge products for circulatory support, construction of an industrial base for artificial hearts, development of marketing networks and digitalization, and supplementation of working capital. The total investment for the above projects is approximately 1.216 billion yuan.

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About Hetang Ventures

Hetang Ventures is a venture capital fund management institution held by Beijing Tsinghua Industrial Development Research Institute, established inReorganized and established in 2014 under the strategic backdrop of promoting the transformation of scientific and technological achievements in universities, Hotang Ventures is a professional investment management institution primarily focused on early-stage investments in science and technology innovation enterprises. Hotang Ventures concentrates on key fields such as life sciences, medical devices, information technology, and modern manufacturing. It has long been dedicated to investing in innovative enterprises with core hard technologies, while also featuring investments in the incubation of scientific and technological achievements by university and top-tier hospital clinical experts. Currently managing nearly 4 billion yuan in funds, Hotang Ventures has invested in over 100 projects, supporting scientists and entrepreneurs with significant research discoveries and technological innovations in realizing "commercial transformation from 0 to 1." At the same time, it consistently adheres to selecting high-barrier "first-of-its-kind technologies" for early-stage investment. With outstanding performance, Hotang Ventures has received honors such as being ranked in the “Top 50 Early Investment Institutions in China” by The Financer and “Top 50 Best Early Venture Capital Investment Institutions in China” by ChinaVenture.