Siasun Robot & Automation, China's first single-port surgery system, has been approved for listing on the Sci-Tech Innovation Board (STAR Market) IPO in China.

On July 15th, Beijing Arui Siasun Robot & Automation Co., Ltd. (referred to as Arui Corporation) applied to change the status of the Shanghai Stock Exchange's Sci-Tech Innovation Board listing review to "under inquiry." CITIC SEC is the sponsoring institution, aiming to raise 700 million yuan. According to the prospectus, Arui Corporation is a high-tech medical device company dedicated to the independent research, development, production, and commercialization of minimally invasive laparoscopic surgery Siasun Robot & Automation systems and supporting instruments with core original technology. Their products can be applied to a variety of departments including urology, gynecology, general surgery, and thoracic surgery for multiple indications, and they plan to expand to departments such as head and neck surgery and cardiac surgery in the future, providing patients with minimally invasive surgical solutions that are less traumatic, more precise, and safer. The company's first core product, the single-hole laparoscopic surgery system for thoracoabdominal cavity exploration (SR-ENS-600), was granted market approval by the National Medical Products Administration in June 2023. It is currently approved for use in urology, gynecology, general surgery, and thoracic surgery lung endoscopic surgery operations. In August 2025, it obtained EU CE certification and is approved for use in urology, gynecology, general surgery, and endoscopic thoracic surgery, suitable for the treatment of benign or malignant diseases in the chest or abdomen, and applicable to adult and pediatric patients who meet the conditions for minimally invasive surgery. This product is the first domestic and the second global single-hole surgical Siasun Robot & Automation system to be approved for market, as well as the first Chinese surgical Siasun Robot & Automation system approved for use by the entire European population. As of the end of the reporting period, it is the only single-hole surgical Siasun Robot & Automation system with CE certification that can be used for pediatric surgical treatment worldwide. The company has established subsidiaries in Hong Kong and the Netherlands, forming a high-quality overseas business team with members who have years of experience working for leading overseas medical equipment and device companies. As of the date of this prospectus, the single-hole laparoscopic surgery system for thoracoabdominal cavity exploration (SR-ENS-600) has obtained registration certificates outside mainland China in the EU, Hong Kong, Malaysia, and other regions. In addition, the issuer has officially signed long-term strategic cooperation agreements with well-known global minimally invasive surgery training institution IRCAD and several renowned European teaching hospitals or reached preliminary cooperation intentions, to accelerate the implementation of overseas commercialization strategies led by mature Western European markets. The company has built a comprehensive intellectual property protection system. As of December 31, 2025, the company had applied for a total of 732 patents, with 471 patents granted, including 319 invention patents, 148 of which were granted domestically and 171 were granted overseas (including the United States, Europe, Canada, Japan, and South Korea). The company has not yet turned a profit and has accumulated losses that have not been offset. The main reason is that since its establishment, the company has been engaged in the research and development of minimally invasive laparoscopic surgery Siasun Robot & Automation, which has a long research and development cycle and requires significant investment. Since the establishment of the company, the amount of accumulated losses has been significantly reduced, but the company may continue to incur losses in the near future, leading to an increase in the amount of accumulated losses that have not been offset. Financially, the company achieved operating income of approximately 449,000 yuan in 2023, 19 million yuan in 2024, and 81 million yuan in 2025; and during the same periods, the net losses were approximately 191 million yuan, 195 million yuan, and 132 million yuan, respectively.