AiKe Medical's IPO on the Science and Technology Innovation Board has been questioned, focusing on neurointervention in the field of Innovative Medical Management devices.

On April 18, Aike Medical Devices (Beijing) Co., Ltd. (referred to as Aike Medical) applied for a change in the status of the Shanghai Stock Exchange's science and technology innovation board listing review to "inquiry requested," with CITIC SEC as its sponsoring institution, intending to raise 1.1 billion yuan. According to the prospectus, the company is a national high-tech enterprise in the commercialization stage, focusing on the field of neural intervention Innovative Medical Management, integrating research and development, production, and commercialization, and has been recognized as a national level "Little Giant" in specialized and new fields. Based on a forward-looking understanding of the trend of neural intervention diagnosis and treatment technology development, the company continuously enriches its core technology reserves through original innovation and continuously expands its product pipeline through product innovation, providing precise diagnosis and treatment solutions for cerebrovascular diseases for doctors and patients. As of the date of the prospectus signing, the company has obtained approvals for ten neural intervention treatment and access Class III medical devices, including Innovative Medical Management products such as Lattice blood flow-guided mesh stents, Grism distal closure intracranial thrombectomy stents, and Attractor intracranial thrombus suction catheters in China, and products have been successively approved or submitted for registration in overseas markets such as the United States and Southeast Asia. In addition, the company has multiple products in clinical or pre-clinical research and development stages. In the hemorrhagic field, the Lattice series blood flow-guided mesh stent is the first and only domestic blood flow-guided mesh stent equipped with a mechanical balloon delivery system and MIROR surface modification technology. With superior product performance advantages, since its approval through the "green channel" in 2022, the market share has rapidly increased, with a national market share of over 20% in the first half of 2025, with over 11,000 sets implanted, and successively selected for the Ministry of Industry and Information Technology national pharmaceutical industry information annual meeting innovation achievements, Beijing's first major technological equipment catalog, Beijing's Innovative Medical Management product catalog, and Beijing Centergate Technologies' Innovative Medical Management product catalog, and recognized by the National Intellectual Property Administration as a patent-intensive product. The in-development product Coincide liquid embolization system is intended for the treatment of chronic/subacute subdural hematoma, and after Coincide is launched, it is expected to fill the gap in domestic interventional treatment of this disease and provide patients with a new option. In the ischemic and access field, the company has not only established a "stent retrieval plus suction retrieval" dual technical path consisting of the Grism distal closure thrombectomy stent and Attractor intracranial suction catheter, but also realized full surgical process coverage from puncture establishment to targeted release through access products, such as the Cosine series, Sine series, and Paracurve. This highly coordinated system-level diagnosis and treatment plan effectively eliminates potential clinical risks of incompatible surgical instruments and establishes a high brand switching barrier and usage stickiness in terminal hospitals nationwide. Financially, in the years 2022, 2023, 2024, and January to September 2025, the company achieved operating revenues of approximately 0.90 million yuan, 97.98 million yuan, 199 million yuan, and 188 million yuan respectively; during the same period, net profits were approximately -1.03 billion yuan, -3.63 billion yuan, 169.695 million yuan, and 363.889 million yuan respectively.