A-share subscription | Biomedical materials manufacturer Baoruiqi (920201.BJ) opens for subscription, with its main products already admitted to approximately 2,300 hospitals in China.

On September 7, Bairui Technologies (920201.BJ) launched its subscription, with an issue price of 16.77 yuan per share and a subscription limit of 370,100 shares. The price-to-earnings ratio is 14.91 times, and the company is listed on the Beijing Stock Exchange, with CICC as its sponsor. The prospectus shows that Bairui Technologies is a high-tech enterprise mainly engaged in the research and development, production, and sales of biomedical materials. Since its establishment, the company has been dedicated to building a technology-leading research and development platform for biomimetic tissue repair and regenerative materials through independent innovation, providing safe and effective biomedical material products to doctors and patients. The company's main products are widely used in the field of postoperative wound repair in the uterine cavity, pelvic (abdominal) cavity, and nasal (sinus) cavity. Additionally, the company is involved in the production and sales of functional skincare products containing hyaluronic acid derivatives, albeit in small quantities. As of December 31, 2025, the company's main products have gained access to approximately 2,300 hospitals in China, including about 700 top-tier hospitals. This includes some of the top 10 obstetrics and gynecology hospitals listed in the 2023 Chinese Hospital Specialty Rankings published by Fudan University, such as Peking Union Medical College Hospital, Tongji Hospital affiliated with Huazhong University of Science and Technology, Fudan University Obstetrics and Gynecology Hospital (Shanghai Red House Hospital), Zhejiang University School of Medicine Obstetrics and Gynecology Hospital, West China Second University Hospital (West China Maternal and Child Health Hospital) of Sichuan University, Peking University People's Hospital, and Sun Yat-sen University First Hospital. At the same time, the company's products have been successfully sold to developed countries such as the United States, Germany, the United Kingdom, France, and Australia, gaining international market recognition. As of December 31, 2025, Bairui Technologies has obtained Class III medical device registration certificates for 3 products, Class II medical device registration certificates for 6 products, CE markings for 4 products, and FDA filings for 2 products. The company has secured 20 domestic authorized invention patents, 1 authorized invention patent in Taiwan, and 34 authorized PCT invention patents abroad. In terms of finances, for the years 2023, 2024, and 2025, the company achieved operating revenues of approximately 198 million yuan, 231 million yuan, and 284 million yuan, respectively; during the same period, the net profits were approximately 50.78 million yuan, 52.31 million yuan, and 76.34 million yuan, respectively.