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2026 IPO bonanza! Over 90% of new stocks rose on their debut
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joined discussion · Jan 8 08:13

IPO Pricing | Jingfeng Medical-B debuts today with 1091.94 times subscription, at HK$43.24 per share; a near HK$1700 profit on the gray market for one lot

Futu Information, January 8th update, $EDGE MEDICAL-B (02675.HK)$ Announced allocation results: priced at HK$43.24 per share, issuing a total of 27.7222 million shares, with each lot consisting of 100 shares. Officially listed today.
In the last trading session, Jingfeng Medical-B closed up 39.11% in the gray market at HK$60.15 per share, with each lot containing 100 shares. Excluding handling fees, one lot earned HK$1691 in profit.
During the public offering phase, Jingfeng Medical-B received subscriptions 1091.94 times over, with the final number of shares allocated in the public offering amounting to 2.7723 million shares, representing approximately 8.70% of the total shares offered. A total of about 196,200 valid applications were received, and 19,967 applications were processed. The approximate percentage of shares allocated via one-lot subscription compared to the total applied shares was 0.50%.
In addition, in the international placement stage, JF Medical-B received 25.18 times subscription, with the final number of international placement shares at 29,108,200 shares, accounting for 91.30% of the total number of placement shares. Futu Information has compiled the relevant data in the table below:
Futu Information, January 8th update, $EDGE MEDICAL-B (02675.HK)$ Announced allocation results: priced at HK$43.24 per share, issuing a total of 27.7222 million shares, with each lot consisting of 100 shares. Officially listed today. In the last trading session, Jingfeng Medical-B closed up 39.11% in the gray market at HK$60.15 per share, with each lot containing 100 shares. Excluding handling fees, one lot earned HK$1691 in profit. During the public offering phase, Jingfeng Medical-B received subscriptions 1091.94 times over, with the final number of shares allocated in the public offering amounting to 2.7723 million shares, representing approximately 8.70% of the total shares offered. A total of about 196,200 valid applications were received, and 19,967 applications were processed. The approximate percentage of shares allocated via one-lot subscription compared to the total applied shares was 0.50%. Additionally, during the international placement phase, Jingfeng Medical-B received 25.18 times subscription, with the final number of shares allocated in the international offering amounting to 29.1082 million shares, equivalent to 91.30% of the total shares issued. Futu has compiled relevant data in the table below: Company Profile The company, founded in 2017, is an advanced surgical robotics company in the medical device industry, dedicated to designing, developing, and manufacturing surgical robots. The company has three products and pipeline products covering different models at various stages of development to tap into the market potential of surgical robots, including multi-functional systems for minimally invasive surgeries...
Futu Information, January 8th update, $EDGE MEDICAL-B (02675.HK)$ Announced allocation results: priced at HK$43.24 per share, issuing a total of 27.7222 million shares, with each lot consisting of 100 shares. Officially listed today. In the last trading session, Jingfeng Medical-B closed up 39.11% in the gray market at HK$60.15 per share, with each lot containing 100 shares. Excluding handling fees, one lot earned HK$1691 in profit. During the public offering phase, Jingfeng Medical-B received subscriptions 1091.94 times over, with the final number of shares allocated in the public offering amounting to 2.7723 million shares, representing approximately 8.70% of the total shares offered. A total of about 196,200 valid applications were received, and 19,967 applications were processed. The approximate percentage of shares allocated via one-lot subscription compared to the total applied shares was 0.50%. Additionally, during the international placement phase, Jingfeng Medical-B received 25.18 times subscription, with the final number of shares allocated in the international offering amounting to 29.1082 million shares, equivalent to 91.30% of the total shares issued. Futu has compiled relevant data in the table below: Company Profile The company, founded in 2017, is an advanced surgical robotics company in the medical device industry, dedicated to designing, developing, and manufacturing surgical robots. The company has three products and pipeline products covering different models at various stages of development to tap into the market potential of surgical robots, including multi-functional systems for minimally invasive surgeries...
Futu Information, January 8th update, $EDGE MEDICAL-B (02675.HK)$ Announced allocation results: priced at HK$43.24 per share, issuing a total of 27.7222 million shares, with each lot consisting of 100 shares. Officially listed today. In the last trading session, Jingfeng Medical-B closed up 39.11% in the gray market at HK$60.15 per share, with each lot containing 100 shares. Excluding handling fees, one lot earned HK$1691 in profit. During the public offering phase, Jingfeng Medical-B received subscriptions 1091.94 times over, with the final number of shares allocated in the public offering amounting to 2.7723 million shares, representing approximately 8.70% of the total shares offered. A total of about 196,200 valid applications were received, and 19,967 applications were processed. The approximate percentage of shares allocated via one-lot subscription compared to the total applied shares was 0.50%. Additionally, during the international placement phase, Jingfeng Medical-B received 25.18 times subscription, with the final number of shares allocated in the international offering amounting to 29.1082 million shares, equivalent to 91.30% of the total shares issued. Futu has compiled relevant data in the table below: Company Profile The company, founded in 2017, is an advanced surgical robotics company in the medical device industry, dedicated to designing, developing, and manufacturing surgical robots. The company has three products and pipeline products covering different models at various stages of development to tap into the market potential of surgical robots, including multi-functional systems for minimally invasive surgeries...
Company Profile
Founded in 2017, the company is a leading surgical robotics firm in the medical device industry, committed to designing, developing, and manufacturing surgical robots. It has three products at different stages of development, as well as pipeline products, to capitalize on the market potential for surgical robots. These include multi-port endoscopic surgical robots and single-port endoscopic surgical robots for minimally invasive surgeries, as well as natural orifice surgical robots for non-invasive procedures.
Currently, the company’s product portfolio includes two core self-developed products: the Jinfeng Multi-Port Endoscopic Surgical Robot and the Jinfeng Single-Port Endoscopic Surgical Robot. The portfolio also features the Jinfeng Bronchoscope Robot, which is not a core product. The Jinfeng Multi-Port Endoscopic Surgical Robot is a robotic-assisted device used for minimally invasive surgeries, utilizing robotics, imaging technology, and digital tools. Its applications span urology, gynecology, general surgery, and thoracic surgery. The Jinfeng Single-Port Endoscopic Surgical Robot is a robotic-assisted device designed for minimally invasive surgeries performed through a single small incision or natural orifice, covering urology, gynecology, and general surgery.
Financial Overview
The company’s revenue increased from RMB 48.0 million for the year ended December 31, 2023, to RMB 160.0 million for the year ended December 31, 2024. The company's cost of sales was RMB 19.6 million for the year ended December 31, 2023, and RMB 61.9 million for the year ended December 31, 2024. The company’s revenue increased from RMB 30.2 million for the six months ended June 30, 2024, to RMB 149.4 million for the six months ended June 30, 2025.
For the six months ended June 30, 2024, the company incurred a cost of sales of RMB 11.1 million, while for the six months ended June 30, 2025, it was RMB 55.5 million. However, during each year of the track record period, the company did not make a profit and incurred operating losses. For the years ended December 31, 2023, and December 31, 2024, as well as for the six months ended June 30, 2024, and June 30, 2025, the company recorded net losses of RMB 212.9 million, RMB 218.5 million, RMB 132.6 million, and RMB 89.1 million, respectively, mainly due to the company's research and development expenses.
Futu Information, January 8th update, $EDGE MEDICAL-B (02675.HK)$ Announced allocation results: priced at HK$43.24 per share, issuing a total of 27.7222 million shares, with each lot consisting of 100 shares. Officially listed today. In the last trading session, Jingfeng Medical-B closed up 39.11% in the gray market at HK$60.15 per share, with each lot containing 100 shares. Excluding handling fees, one lot earned HK$1691 in profit. During the public offering phase, Jingfeng Medical-B received subscriptions 1091.94 times over, with the final number of shares allocated in the public offering amounting to 2.7723 million shares, representing approximately 8.70% of the total shares offered. A total of about 196,200 valid applications were received, and 19,967 applications were processed. The approximate percentage of shares allocated via one-lot subscription compared to the total applied shares was 0.50%. Additionally, during the international placement phase, Jingfeng Medical-B received 25.18 times subscription, with the final number of shares allocated in the international offering amounting to 29.1082 million shares, equivalent to 91.30% of the total shares issued. Futu has compiled relevant data in the table below: Company Profile The company, founded in 2017, is an advanced surgical robotics company in the medical device industry, dedicated to designing, developing, and manufacturing surgical robots. The company has three products and pipeline products covering different models at various stages of development to tap into the market potential of surgical robots, including multi-functional systems for minimally invasive surgeries...
Use of Proceeds
Regarding the use of proceeds, JF Medical will receive net proceeds from the global offering of approximately HK$1.117 billion (based on the offer price of HK$43.24). According to the prospectus, JF Medical intends to use the proceeds from the global offering for the following purposes:
Approximately 42.0% will be allocated to ongoing and planned R&D for core products; around 20.0% will be used for the commercialization of our core products; about 10.0% will be used to expand production capacity; approximately 8.0% will be allocated to other products and pipeline products; around 10.0% of the net proceeds will be used for potential strategic acquisitions, investments, or collaborations in the surgical robotics industry and related fields; and approximately 10.0% of the net proceeds will be used for working capital and general corporate purposes.
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Futu Information, January 8th update, $EDGE MEDICAL-B (02675.HK)$ Announced allocation results: priced at HK$43.24 per share, issuing a total of 27.7222 million shares, with each lot consisting of 100 shares. Officially listed today. In the last trading session, Jingfeng Medical-B closed up 39.11% in the gray market at HK$60.15 per share, with each lot containing 100 shares. Excluding handling fees, one lot earned HK$1691 in profit. During the public offering phase, Jingfeng Medical-B received subscriptions 1091.94 times over, with the final number of shares allocated in the public offering amounting to 2.7723 million shares, representing approximately 8.70% of the total shares offered. A total of about 196,200 valid applications were received, and 19,967 applications were processed. The approximate percentage of shares allocated via one-lot subscription compared to the total applied shares was 0.50%. Additionally, during the international placement phase, Jingfeng Medical-B received 25.18 times subscription, with the final number of shares allocated in the international offering amounting to 29.1082 million shares, equivalent to 91.30% of the total shares issued. Futu has compiled relevant data in the table below: Company Profile The company, founded in 2017, is an advanced surgical robotics company in the medical device industry, dedicated to designing, developing, and manufacturing surgical robots. The company has three products and pipeline products covering different models at various stages of development to tap into the market potential of surgical robots, including multi-functional systems for minimally invasive surgeries...
Editor/Joe
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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