Aohua Endoscopy (SHSE: 688212), a leading medical endoscope manufacturer, today landed on the SSE STAR Market (Shangai Stock Exchange Sci-Tech Innovation Board). The issue price is CNY 22.5 per share. The stock opened at CNY 33 per share, representing a market cap of CNY 4.4 billion. Qiming Venture Partners led the company’s Series C round in 2016 and followed on in Series D round.
The listing of Aohua marks is the third IPO in Qiming’s portfolio in the past month, following the IPO of Abbisko(SEHK:2256) and Microtech Medical(SEHK:2235). Qiming has completed 12 public listings in our portfolio so far in 2021.
Aohua Endoscopy specializes in the R&D, manufacturing and sales of electronic endoscopic equipment and surgical consumables. With two decades of innovation, Aohua’s full range of endoscopy products have been widely used in clinical contexts including gastroenterology, respiratory medicine, otolaryngology, gynecology, and emergency medicine.
Aohua Endoscopy entered China’s flexible electronic endoscopes market early. The company had a systematic product layout and long-term commitment to innovation and developing talents, achieving breakthroughs in endoscope optical imaging, image processing, mirror body design and electrical control. Aohua’s soft endoscopes are an early entrant into developed markets, including Germany, the UK, and South Korea.
Aohua Endoscopy CEO Gu Xiaozhou said: “Our mission is to make endoscopic diagnosis and treatment more popular and convenient. For over 20 years, the company has been clinical needs-oriented and emphasized building up manufacturing systems. In the future, we will continue to strengthen our advantages in R&D, products, distribution and talent development, and manufacture better home-made endoscope products.”
William Hu, Managing Partner of Qiming Venture Partners, said, “Qiming Venture Partners has witnessed the growth of Aohua Endoscopy. The company has a solid R&D team and organizational structure, upholding close integration of technical improvement and product upgrades with clinical practices. IPO is a new starting point for Aohua Endoscopy. We look forward to seeing it become the world’s leading endoscopy total solutions provider and accelerate the localization of high-end medical equipment, benefiting most patients.”