On June 15th, Kela Medical (920072.BJ) commenced its initial public offering subscription. The issue price is set at 15.62 yuan per share, with a maximum subscription limit of 266,400 shares and a price-to-earnings ratio of 19.62 times. The listing is on the Beijing Stock Exchange, with China Galaxy Securities acting as the sponsor.
According to the prospectus, Kela Medical is a provider of supporting medical device solutions in the fields of radiotherapy and rehabilitation therapy. Its main business involves the research, development, production, and sales of radiotherapy positioning devices for cancer radiotherapy and rehabilitation assistive devices for rehabilitation therapy.
As of the end of the reporting period, the company has obtained a total of 148 patents (145 domestic and 3 overseas), including 47 invention patents (44 domestic and 3 overseas). It has also secured registration approval for 2 Class III and 5 Class II medical device products.
In the radiotherapy field, the company has become one of the global leaders in the radiotherapy positioning industry. According to a Frost & Sullivan industry research report, based on sales figures for 2023, the company ranked third globally in the patient positioning product market segment with a 7.0% market share, and first in China with a 42.5% market share.
The company is also one of the very few leading enterprises in the industry that possesses the capability to manufacture both patient positioning products and radiotherapy positioning systems.
Kela Medical's radiotherapy positioning devices have gained recognition from top-tier cancer treatment institutions worldwide. During the reporting period, its end customers covered 6 of the world's top 10 cancer treatment institutions and 8 of China's top 10 specialized cancer hospitals.
Furthermore, the company has established varying levels of horizontal cooperation with radiotherapy equipment and supporting software manufacturers, including Shanghai United Imaging Healthcare Co.,Ltd., Xiamen Manteia, Siemens AG, GE Healthcare, and Philips.
Financially, for the years 2023, 2024, and 2025, the company achieved operating revenues of approximately 238 million yuan, 285 million yuan, and 315 million yuan, respectively. During the same periods, it recorded net profits of approximately 59.92 million yuan, 67.21 million yuan, and 64.04 million yuan.
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