New IPO News | Zhen Health Medical-B, dubbed 'China's first percutaneous interventional surgical robotics stock,' has launched its IPO and plans to list on June 30, with a minimum subscription amount of HK$2,735.3 per lot

Futu News, June 22: $TH MEDICAL-B (02697.HK)$ The company announced that the IPO will be open for subscription from June 22 to June 25. It intends to offer approximately 3.5647 million shares globally and expects to list on June 30.

Company Overview

Zhen Health Medical engages in the research and development and commercialization of percutaneous interventional and ablation surgical robots in China. The company has one core product—the percutaneous interventional surgical robot—with four models: TH-S1, TH-S, TH-SPro, and TH-SA. All four models have received Class III medical device registration certificates from China’s National Medical Products Administration (NMPA), permitting their use in pulmonary and abdominal interventions. The company is currently expanding the indications for TH-S1 to include retroperitoneal lesions.

To seize this historic opportunity, the company has implemented systematic planning and continuous innovation, completing product engineering design and pivotal clinical trials for regulatory approval. It has assembled an R&D team with deep and complementary expertise in regulatory affairs, technology, commercialization, and clinical translation, secured over 200 related patents, and established a comprehensive intellectual property barrier.

Financial Summary

Zhen Health Medical reported net losses of RMB 92.2 million and RMB 90.1 million for the years 2024 and 2025, respectively, primarily due to substantial R&D expenses incurred to support product development and initial commercialization, as well as sales and distribution expenses and administrative expenses. The company’s R&D expenses amounted to RMB 50.8 million and RMB 56.9 million in 2024 and 2025, respectively.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, Zhen Health Medical expects the net proceeds from the global offering to be approximately HK$388 million (assuming the over-allotment option is not exercised and based on the mid-point of the offering price range at HK$127.4). According to the prospectus, Zhen Health Medical intends to allocate the proceeds from the global offering for the following purposes:

Approximately 74.5% will be used to fund research and development activities and commercialization of the company's core products; approximately 9.9% will be used to fund research and development activities and commercialization of the company's key products; approximately 6% will be allocated to fund research and development of other pipeline candidates, as well as related patent filings and portfolio expansion; approximately 2% will be used to fund the expansion of the company's manufacturing capacity and enhancement of production capabilities; and approximately 7.6% will be used for working capital and other general corporate purposes.

Further reading:Zhen Health Medical-B Prospectus

The golden season for subscribing to new IPOs is here! Subscribe to new listings with Futu—zero interest, zero fees, and cashless subscription. Join the campaign now for a chance to waive your IPO subscription fees for one year.Come and experience it now >>

Editor/Joe

25K Views