Lifotronic Tech Announces an IPO on Sci-Tech Innovation Board in China

Lifotronic Technology Co., Ltd. ("Lifotronic Tech") has announced an IPO on Sci-Tech Innovation Board at Shanghai Stock Market, coded as '688389'. The stock price is 9.1 yuan per share and the total amount of shares is 430 million, which comes up to the total capital of 391.3 million yuan. Shenzhen Capital Group Co., Ltd. ("SCGC") has been one of the shareholders of Lifotronic Tech.

Founded in 2008, Lifotronic Tech is a leading manufacturer of more than 110 premium medical devices both for diagnostic and therapeutic purposes. Headquartered in Shenzhen, China. Lifotronic Tech operates through 4 factories and 30 sales and service subsidiaries strategically located in China. The company is committed to its mission by focusing on technology innovation, quality assurance, and customer overall satisfaction. 

Lifotronic Tech's product pipeline of treatment and rehabilitation covers the hospital and household market. Its in vitro diagnostic products consist of in vitro diagnostic testing equipment and supporting reagents.

The revenue of Lifotronic Tech in 2016, 2017 and 2018 was 174 million yuan, 250 million yuan, and 323 million yuan respectively. The net profits were 9.88 million yuan, 47.58 million yuan, and 81.14 million yuan respectively. The company reported revenue of 205 million yuan and a net profit of 50.7 million yuan in the first half of 2019.

SCGC is a leading venture capital firm in China. Co-founded by the Shenzhen Municipal Government and a group of private partners in August 1999, SCGC is now a privately and independently managed VC. Since its establishment, SCGC has focused on cultivating national industries, shaping national brands, promoting economic transformation and emerging industries developing. SCGC has registered capital of 5.42 billion yuan and a total AUM of 348.96 billion yuan. 

SCGC primarily invests in SMEs, innovative high-tech enterprises, enterprises in emerging industries, and enterprises in start-up period, growth period and in transformation, covering industries supported by national policies, including IT, internet, new media, biopharma, new energy, environmental protection, chemical engineering, new material, high-end equipment manufacturing, consumption goods, modern service, etc.