On the last day of 2021, a long-awaited star enterprise appeared in the "examination room" of the science and innovation board.
On December 31, 2021, Shanghai stock exchange accepted the listing application of Shanghai Lianying Medical Technology Co., Ltd. (hereinafter referred to as "Lianying medical") on the science and innovation board, and the company plans to raise 12.48 billion yuan. Citic Securities Company Limited(600030) , China International Capital Corporation Limited(601995) co sponsor.
So far, by the end of 2021, the total number of enterprises accepted by the science and innovation board has reached 709.
In fact, since the opening of the scientific innovation board, when Lianying medical in Shanghai appeared on the scientific innovation board has attracted much attention from the market. Now, more than two years after the opening of the market, the science and innovation board has formed an industrial agglomeration effect on the three major industries of biomedicine, integrated circuit and high-end equipment manufacturing. From the latest number of Listed Companies in biomedicine, the biomedicine sector of the science and innovation board basically keeps pace with NASDAQ and the Hong Kong stock exchange. It can be predicted that the scientific innovation board is becoming an emerging biomedical listing center with global competitiveness.
In the view of insiders, Lianying medical's IPO sprint to the science and innovation board is of symbolic significance, which will bring a demonstration effect to high-end medical equipment manufacturing enterprises and attract more industrial chain companies to gather on the science and innovation board.
How hard is Lianying medical? Shanghai Securities News reporter uses a set of data to quickly outline the hard technology "figure" of Lianying medical for you.
more than 1500 invention patents
many products are China's first
Lianying medical is committed to providing global customers with high-performance medical imaging equipment, radiotherapy products, life science instruments and medical digital and intelligent solutions.
By the first half of 2021, the company has launched more than 70 products to the market, including magnetic resonance imaging system (MR), X-ray computed tomography system (CT), X-ray imaging system (XR), molecular imaging system (PET / CT, PET / MR), medical linear accelerator system (RT) and life science instruments. In the field of digital diagnosis and treatment, based on the Lianying cloud system architecture, the company provides Lianying medical cloud services, realizes equipment and application cloud collaboration and medical resource sharing, and provides comprehensive solutions for end customers.
The reporter noted that many of the more than 70 products were pioneered in China. the company has 1.5T, 3.0T, 5.0t and higher field strength superconducting magnet development technology, and has developed the first domestic 3.0T MR, 9.4T animal Mr products and the industry's first 75cm large aperture 3.0T superconducting magnet.
At the same time, the fast imaging technology of the company's magnetic resonance equipment is leading in the industry. Mr equipped with optical shuttle imaging platform can realize 0.5 seconds / phase fast dynamic HD imaging; The company also launched intelligent optical shuttle imaging platform technology, which integrates artificial intelligence technology and optical shuttle imaging technology to realize the fastest 100 second imaging of the inspected part.
More domestic first products are clear at a glance:
The emergence of hard core products reflects the combat effectiveness of the R & D team. It is reported that the company has nearly 2000 R & D personnel, accounting for more than 35% of the total number of employees; At present, the company has obtained more than 1500 authorized invention patents, including more than 1100 domestic invention patents and more than 380 overseas invention patents. In addition, the company has taken the lead in undertaking nearly 40 national and provincial R & D projects, including nearly 20 national science and technology major projects, and won the first prize of the national science and Technology Progress Award in 2020.
The market share of frequently ranks first
settled in 900 class III hospitals
The market share of most of the fruitful patented products ranks first, and has been widely praised by the third class hospitals.
Since its listing, the company's products have settled in nearly 900 third class hospitals in China, and have been widely recognized by end customers. According to the number of new units in China in 2020, the company's Mr, CT, PET / CT, PET / MR and Dr products are ranked in the forefront of the industry, among which Mr products rank first in the new market share in China, and 1.5T and 3.0tmr rank first and fourth respectively; CT products rank first in the new market share in China, CT below 64 ranks first, and CT above 64 ranks fourth; PET / CT and PET / MR products rank first in the new market share in China; DR and mobile Dr products rank second and first in China's new market share respectively.
The "epidemic" strength of hard core war should not be underestimated. The company carried out emergency research and development according to the demand of anti epidemic, and quickly realized the mass production of customized shelter CT. It was the only company that won the "vid-2020 high-end imaging equipment" award in the national anti epidemic industry in September of the State Council.
The company also provided emergency assistance to high-end medical imaging equipment and expert teams in nearly 30 countries and regions such as Ukraine, Thailand, Japan and the United States, and actively contributed to the global anti epidemic.
the latest valuation is 50 billion yuan
proposed to raise 12.48 billion yuan
Lianying medical sprint scientific innovation board also carries a carefully written transcript. From 2018 to 2020, the company achieved operating revenue of RMB 2.035 billion, RMB 2.979 billion and RMB 5.761 billion. In the same period, the company's R & D investment accounted for 32.73%, 23.17% and 14.76% of its revenue. The reporter noted that with the company's moderate adjustment of R & D rhythm, the company has achieved profitability since 2020.
In 2020 and January June 2021, the company achieved operating revenue of RMB 5.761 billion and RMB 3.085 billion respectively, and net profits attributable to shareholders of the parent company of RMB 903 million and RMB 647 million.
Combined with the company's latest financing and future development prospects, the market value of the company is expected to be no less than RMB 3 billion. Therefore, Lianying medical chose the fourth set of listing criteria, that is, "the estimated market value is no less than RMB 3 billion, and the operating revenue in the latest year is no less than RMB 300 million".
However, the reporter noted that an asset acquisition in September 2020 exposed the latest valuation of Lianying medical.
According to public information, taking December 31, 2019 as the appraisal base date, the value of all shareholders' equity of Lianying Co., Ltd. (the predecessor of Lianying medical) is evaluated by income method, and the result is RMB 33.33 billion. After negotiation and referring to the evaluation value, the final target asset, 75% equity of Shanghai xinman, is valued at 1.013 billion yuan and Lianying medical as a whole is valued at 50 billion yuan.
The company plans to raise 12.48 billion yuan to invest in next-generation product R & D projects, high-end medical imaging equipment industrialization fund projects, marketing service network projects, information improvement projects, and supplement working capital.
Lianying medical said that after the listing of the science and innovation board, the company will carry out talent reserve, technology reserve, product reserve and customer expansion all over the world, so as to enhance the global market competitiveness. Specifically, first, continue to attract experts and talent teams in the field of medical imaging all over the world, and realize R & D talents to share the development income of the company through an effective incentive system; Second, continuously and steadily carry out R & D investment, carry out forward-looking layout in cutting-edge technology fields such as imaging equipment, and master core technologies through independent R & D and product innovation based on the actual clinical needs of end customers; Third, build and improve a global product production and sales system, further achieve key core technology breakthroughs in the Chinese market by virtue of technology R & D advantages and cost advantages, and actively promote and improve market share in overseas markets.
"52 + 2" heavyweight shareholder list debut
Before this offering, the total share capital of Lianying medical was 724 million shares, and it is planned to issue no more than 100 million RMB common shares.
In view of Xue min's actual disposable voting right proportion of the issuer in the last two years has always been more than 30%, which is higher than the shareholding proportion of a single other shareholder of the company in the same period, and the shareholding proportion of other shareholders of the company has always been relatively scattered. Therefore, in the last two years, Xue min is the actual controller of the company and Lianying group is the controlling shareholder of the company.
According to the prospectus, Xue min served as chairman and CEO of Lianying Co., Ltd. from 2018 to September 2020; He has been the chairman of Lianying group since 2019.
Looking further at the list of shareholders of Lianying medical, it can be said that the stars are shining and crouching tiger, hidden dragon. Before this offering, there were 52 institutional shareholders and 2 natural person shareholders lurking among them.
Specifically, the company has three state-owned shareholders, namely Shanghai Lianhe, Guofeng investment and Hubei science and technology investment, with shareholding ratios of 18.64%, 1.34% and 0.29%. Among them, the actual controller behind Shanghai Lianhe is Shanghai state owned assets supervision and Administration Commission.
Ningbo Yingju, Ningbo Yingli, Ningbo Yingjian, Ningbo Yingkang and Shanghai Yingdong are all employee stock ownership platforms of Lianying medical. Their executive partners are Zhang Qiang (Chairman of Lianying medical), holding a total of 8.56% equity of the company.
Zhongke Daofu and Shanghai Beiyuan hold 6.46% and 4.49% equity of the company respectively. The actual controllers of Zhongke Daofu are Xu Tieqing and Ma Yousan, and the actual controller of Shanghai Beiyuan is Xu Tieqing; Zhongke Daofu and Shanghai Beiyuan acted in concert in exercising their rights as shareholders of Lianying medical.
The reporter found that Sheng Yuanyi and Yan Quanliang, the two natural person shareholders in the shareholder list, are Weng's son-in-law, holding a total of 3.15%. According to the investigation, Sheng Yuanyi is the legal representative and general manager of Changzhou Lianying Zhirong Medical Technology Co., Ltd. Xue min and Yan Quanliang are both directors of the company.
In addition, China Life Insurance Company Limited(601628) 's Guoshou Chengda, China State owned capital venture capital fund Co., Ltd. (hereinafter referred to as "national venture capital") and advanced manufacturing industry investment fund (limited partnership) (hereinafter referred to as "advanced investment") hold 2.57%, 1.34% and 1.21% of the shares of the company respectively. Gaotejia holds a total of 1.52% equity of the company through its gaotejia Kanghong, gaotejia Ruibao and gaotejia Ruian.
The reporter noted that in the last week of 2021 (December 27-31), the "examination room" of the science and Innovation Board ushered in a small peak of acceptance, and 16 companies entered the site, which prompted the total number of acceptance of the science and innovation board to quickly exceed 700, reaching 709. It is reported that this mainly considers that the financial statements quoted in the prospectus are valid within 6 months after the deadline of the latest issue. At present, the latest financial statements in the hands of the company planning to IPO are the semi annual reports of 2021. Without special circumstances, its financial statements will lose their validity and have to be updated. In order not to affect the company's normal IPO progress, a group of companies rushed into the "examination room" before the end of 2021.
(Shanghai Securities News)
