2 The first scientific innovation board in Chongqing IPO, coming

source ： Day after day IPO（ID:pedailyIPO） author ： Liu fujuan   Zhang Jiwen

VC/PE It became popular to organize groups to go to Chongqing .

The first scientific innovation board in Chongqing IPO It's finally coming .

The investment community has learned that , The official website of Shanghai Stock Exchange shows , Chongqing Shanwaishan Blood Purification Technology Co., Ltd （ Hereinafter referred to as Shanwaishan ） The first issue of the sci tech Innovation Board passed . thus , Shanwaishan is expected to become the first Chongqing company listed on the science and innovation board .

Rising in Chongqing , Shanwaishan is a company specialized in producing and selling blood purification equipment and consumables , The founder gaoguangyong is a native of Chongqing .2001, Gaoguangyong sells medical devices , By chance, I witnessed the domestic blood purification equipment being “ thetime ” After the situation , He created the mountain beyond the mountain . fight 20 years , Shanwaishan breaks the long-term monopoly of imported blood purification equipment on China , Greatly reduce the cost of dialysis treatment for uremic patients in China . Quite surprisingly , This is not a well-known company behind the emergence of a high-profile 、 Huagai capital and other well-known investment institutions .

Through mountains beyond mountains IPO, We have seen the former venture capital depression —— Chongqing , Rising up . Quietly ,VC/PE It became popular to organize groups to go to Chongqing .

01 The counter attack of a rural student ： By dialysis machine , He buried himself in his work IPO

Behind mountains beyond mountains , It's a bit. 60 The entrepreneurial story of starting from scratch .

1969 year , Gaoguangyong was born in the mountains of Nanchuan, Fuling, Chongqing , When I was a child, my family was poor . He once revealed in his speech that ,“5 Years old, cooking on the bench ,6-7 Year old pig grass , So there are many wounds on your hands , There are at least hundreds of cutting edges .7-8 When I was years old, I went to the field to cut millet 、 Wheat ,10 I started to pick up half a bucket of water at the age of ,13 Years old plough the fields , Plant seedlings .” Work study program in junior high school , High school has to walk 60 It takes many miles to get to school .

Gaoguangyong secretly decides to study hard , Later, I was admitted to Chongqing Industrial and Commercial University . During the period of university , Gaoguangyong also taught himself the second major accounting , I worked as a tutor to earn living expenses , One hundred thirty-five tutors teach one student , Two, four, six families teach one student . For my brother to go to high school , When he was in trouble, he went to Chongqing blood station to donate blood .“ As I grew up , I have always believed that poverty and suffering are a treasure , As long as you have that belief , No matter how bad the environment is, efforts can be made to change it .”

After college , Gaoguangyong had the idea of starting a business , He refused to stay in school and refused to go to the water company , Choose to be assigned to Qingling Motor Company . This is a Sino Japanese joint venture , Gaoguangyong hopes to learn how the Japanese pay attention to quality and management , How to build a world-class company . later , He joined a medical device company as a sales manager , At that time, the company hired 100 Multiple sales managers do medical devices and drugs , But gaoguangyong is the champion every year .

Soon a little episode happened ： Gaoguangyong has a fellow villager with uremia in his hometown , Because there was no money to cure the disease, he had to go broke in the end . Blood purification equipment for uremia at that time , Monopolized by multinational corporations , The price is very high . Witness all this , Gao Guangyong is determined to develop and produce this machine and put it on the market .2001 year 3 month , Gaoguangyong is 60 More than square meters of residential buildings have set up Shanwaishan .

At that time, the domestic blood purifier technology was basically blank , When Shanwaishan just started , Gaoguangyong and his team have also digested foreign technologies 、 absorption , To recruit talents , Shanwaishan adopted equity incentive and other measures , It has absorbed a number of state-owned enterprises 、 scientific research institution 、 The elite of colleges and Universities .

But it is difficult to start a business . Gaoguangyong once recalled those days ： Sometimes I am worried that the payment cannot be returned , Sometimes I am worried about not being paid the next day , Sometimes I sit in the office waiting for others to collect money . The hardest time , He mortgaged his house to the bank , The air conditioner was brought to the factory for technicians , He also returned to the front line to do sales . The company's executives even put the money they got married , All the money ready to buy a house is lent to the company for emergency .

until 2003 year , The team has developed... With completely independent intellectual property rights SWS-2000 Type blood perfusion machine and obtained the national patent , It fills the gap in the field of high-end blood purification equipment in China , The company is on track .

period , The company participated in the drafting of 3 National standards and 5 Industry standards , It has independent intellectual property rights and hundreds of authorized patents , It has a national enterprise technology center 、 National local joint Engineering Research Center 、 National postdoctoral scientific research workstation and other scientific and technological innovation platforms , It is a national technological innovation demonstration enterprise , And won “ Second prize of national science and technology progress award ”.

2014 year , Shanwaishan achieves sales revenue 8.5 One hundred million yuan , It has created the first independent innovation brand in China's blood purification industry —— Shanwaishan hemodialysis machine , It breaks the long-term monopoly of imported blood purification equipment on China , Greatly reduce the price of blood purification equipment and the cost of dialysis treatment for uremic patients by 60% above .

today , Shanwaishan blood purification equipment has been installed at home and abroad 10000 Yu Tai , Accumulated in the whole country 1000 More than hospitals have realized terminal installation , Customers include the General Hospital of the Chinese people's Liberation Army 、 The Third Affiliated Hospital of Peking University 、 Beijing China Japan Friendship Hospital 、 The General Hospital of the eastern theater of the people's Liberation Army and many other well-known large-scale grade III hospitals in China .2020 year 2 month , The company is recognized by China Medical Device Industry Association as “ Domestic leading manufacturer of blood purification equipment ”.

02 The first scientific innovation board in Chongqing IPO Will be born , High allocations 、 Huagai capital entered the board

How to support a mountain beyond the mountain IPO？

Simply speaking , Shanwaishan is a professional enterprise engaged in R & D and sales of blood purification equipment and consumables , The company has developed continuous blood purification equipment based on the key core technology of original blood purification equipment （CRRT）、 Hemodialysis machine and hemoperfusion machine , And independently developed the hemodialysis concentrate 、 Hemodialysis dry powder and other blood purification consumables . The product is widely used to treat all kinds of acute and chronic renal failure 、 Uremia 、 Multiple organ failure, poisoning and other diseases .

Hemodialysis is also called artificial kidney , It is also called kidney dialysis or kidney washing . as everyone knows , Hemodialysis is one of the ways to treat acute and chronic renal failure , Hemodialysis can alleviate the symptoms of patients , It has certain significance to prolong the survival time .

According to the medical advice 2022 year 2 Released on “ Ranking list of hemodialysis machines ”,2021 The company's product hemodialysis machine 、 Continuous blood purification equipment （CRRT） In the domestic similar products, the market share is in the forefront . The company has built and operated a chain of hemodialysis centers 9 home , To provide chain hemodialysis medical services for nearly 1000 patients with end-stage renal disease in Sichuan and Chongqing .

The prospectus shows , Outside the mountains 2019 year 、2020 year 、2021 Years and 2022 year Q1 The revenues are 1.42 One hundred million yuan 、2.54 One hundred million yuan 、2.83 One hundred million yuan, and 6663.85 Ten thousand yuan ; The net profit is respectively -3493 Ten thousand yuan 、1833.4 Ten thousand yuan 、1814 Ten thousand yuan, and 735 Ten thousand yuan .

This is a huge market . According to the medical machinery research institute , Expect to 2020 In, the number of hemodialysis patients in China reached 83 ten thousand people , Per capita weekly dialysis 2.5 Time , Annual dialysis 130 Time , The price of each dialysis is 240 Yuan calculation ,2020 In, the market scale of hemodialysis in China was about 259 One hundred million yuan . Calculate according to the same idea , Predict 2025 The market scale of China's hemodialysis industry will reach 343 One hundred million yuan .

From the perspective of the global market , Fresenius and Baxter are working on blood purification equipment 、 The whole industrial chain layout has been realized in the fields of blood purification consumables and hemodialysis medical services . Domestic enterprises are like mountains beyond mountains 、 Weigao blood 、 Biolight 、 Sanxin medical has also started the process of product seriation layout .

Benchmarking to the international market ,DaVita Is one of the largest providers of kidney care services in the United States . As early as 2011 year , Warren Buffett once invested in DaVita, Up to now, the shareholding ratio is 34.4%. It is reported that ,DaVita It is expected to become one of the top ten investment projects of Berkshire .2021 year ,DaVita rose 60%, Buffett made a profit by virtue of this project 20 Billion dollars . As of press time ,DaVita Market value 88.31 dollar （ renminbi 590 One hundred million yuan ）.

So , Shanwaishan blood purification equipment series products are also actively exploring overseas markets , The prospectus shows that the product has been exported to Indonesia 、 the Philippines 、 Thailand 、 India 、 South Africa 、 Libya 、 Pakistan 、 The Greek 、 Paraguay 、 Switzerland 、 Morocco 、 Nigeria 、 Peru 、 Tanzania 、 Sultan 、 Malaysia, etc 62 Countries and regions , Cumulative achieved 1800 The installed capacity of more than units in the overseas market .

If no accident , Shanwaishan will become the first scientific innovation board in Chongqing IPO. In fact as early as 2016 year , Shanwaishan is listed on the new third board , but 2018 At the end of the year, the new third board was listed , Turn to seek listing on the science and innovation board .

The prospectus shows ,IPO after , Gaoguangyong's direct shareholding is 24.252%, Liuyunjun holds shares of 11.8134%, Big health holdings is 11.055%, Zhuhai Xiuheng holds shares of 9.7216%, Huagai Xincheng holds shares of 5.3906%; The shares held by the outer circle are 1.3682%, Xiangjiang Industrial investment （SS）. And behind Zhuhai Xiuheng is a high position .

Meng Nan, executive general manager of Huagai medical, told the investment community that , Gaoguangyong, the founder of Shanwaishan, is a very persistent and enthusiastic entrepreneur , stay “ Made in China ” At the beginning , Shanwaishan insists on independent research and development and has become the leader in the field of blood purification , Participated in drafting a number of national and industrial standards , It is also far ahead in terms of independent intellectual property rights and patents . Besides , Shanwaishan has a comprehensive product layout , Apart from the domestic market , We have always insisted on building overseas channels , Good progress has been made in Southeast Asia and other countries .

For the whole dialysis industry , There is still a big gap between the survival rate of domestic patients and that of foreign patients , In other words, there is still much room for development in China , In particular, the government encourages hospitals to purchase domestic equipment and consumables , Even issued relevant policies , It is bound to benefit the development of domestic medical devices , It is also an opportunity to realize domestic substitution .

03 VC/PE Go to Chongqing in a group , Venture capital burst , also 10 individual IPO hurry

Mention Chongqing , Your first impression may be the spicy hot pot 、 Straightforward Chongqing beauties , There are countless magical buildings . As an important economic town in Southwest China , Chongqing is located in the center of the Three Gorges Reservoir area , It has irreplaceable golden waterway resources , It was once an important military area and a transshipment port in China . today , Chongqing has developed into the largest economic center city in the southwest and the upper reaches of the Yangtze River , It is also the youngest municipality directly under the central government .

These two years , Chongqing is becoming more and more active in the venture capital circle . The most impressive scene was 2020 year , Chongqing industrial guidance fund 、 Chongqing Angel guidance fund 、 Chongqing Yufu holding group 、 Chongqing high tech Zone and IDG capital 、 Songhe capital 、 Piloting the new territories 、 China Merchants International 、 BOE group and other institutions and enterprises signed 15 Cooperation agreement , The contract amount reaches 675.55 One hundred million yuan .

2021 year , Chongqing industry led fund company 、 Based on Chongqing Science and technology finance group , Chongqing Science, technology, innovation and Investment Co., Ltd. was integrated and established . By 2021 year 8 month , Chongqing Science and Technology Innovation Investment Co., Ltd. has initiated the establishment of 123 Sub Fund , The investment stage covers the seeds 、 Newly established 、 grow up 、 The whole life cycle of mature enterprises , To biomedicine 、 The Internet of things 、 The new material 、 In the field of life science 1681 Project investment: About 700 One hundred million yuan , towards 6162 Science and technology enterprises issue credit loans of knowledge value 181 One hundred million yuan , For industrial transformation and upgrading 、 The development of the real economy has played an important guiding role .

“ Chongqing is really sincere . They often visit Shenzhen , Hope to attract more investment institutions to settle in .” A partner of a venture capital institution in South China said . Over the past few years , Sequoia China 、 Hillhead venture capital 、IDG capital 、 Shenzhen Venture Capital 、 The East is rich 、 Songhe capital 、 Junlian capital 、 CSCEC investment 、 Zhaoyin International 、 Northern lights venture capital 、 LanChi venture capital and other well-known domestic investment institutions , They went to Chongqing one after another to see the project 、 Landing new funds .

This year, 3 month , Yufu Holdings has established a private equity fund with Shenzhen Venture Capital , Shenzhen Venture Capital and Yufu holding each contributed 3900 Ten thousand yuan , The shareholding ratio is 39%, And the largest shareholder ; Almost at the same time , LanChi venture capital decided to locate the new RMB fund in Chongqing , Mainly invested in hard technology 、 Enterprise service 、 Small and medium-sized enterprises in the fields of medical care and health .

Why did Chongqing suddenly catch fire in the venture capital circle ？

A venture capital tycoon in Beijing once said ：“ In the past 5 To 10 year , China VC/PE Our focus is mainly on the Internet , Chongqing has no obvious advantages . But now , The focus of investors turns to industrial Internet and hard technology , Spring is coming in Chongqing . Chongqing is in the field of precision instruments and equipment 、 There is a lot of good accumulation of high-end talents , There are many opportunities for Chongqing in the next step .”

To attract VC/PE, Chongqing has introduced 《 Financial support for the West （ Chongqing ） Implementation plan for the construction of Science City 》《 Implementation Opinions on developing equity investment and promoting innovation and entrepreneurship 》《 Measures of Chongqing high tech Zone for promoting the development of science, technology and finance 》《 Measures of Chongqing high tech Zone for encouraging enterprises to go public 》 Wait for policy , Create a local venture capital ecosystem .

actually , Chongqing's economic strength should not be underestimated .2021 Chongqing in GDP A total of 27984 Billion , growth 8.3%, In the national city ranking, it is second only to Beijing, Shanghai, Guangzhou and Shenzhen . In terms of industrial structure , Chongqing is also the largest industrial and commercial city in Southwest China 、 An important modern manufacturing base in China .

among , Automobile industry is a very important pillar industry in Chongqing .2015-2016 year , Chongqing's automobile output once exceeded 300 Thousands of cars , Therefore, Chongqing has become the largest automobile production base in China . Especially after the development of new energy vehicles , We are familiar with Geely 、 The Great Wall 、 BYD 、 Ideal 、 baic 、 SAIC GM and other auto companies have set up factories or companies in Chongqing .

Besides , Chongqing has also increased investment in the biomedical industry , An action plan for high-quality development of the big health industry was issued （2020—2025 year ）, Promote the high-quality development of the big health industry , The Liangjiang New Area has been gradually formed 、 In the west （ Chongqing ） Science City, Banan Chongqing International Biological city and other major health biomedical industry clusters .

before , Many domestic enterprises VC/PE Led the team to visit a circle of Chongqing enterprises . The feeling they shared was , The hard conditions and soft environment for Chongqing's investment are relatively good . Hopefully in the near future , Chongqing is developing new energy vehicles 、 Leading enterprises can be created in the electronic information industry , At least it is a leading enterprise in China , Even the world's leading enterprises , So as to drive the upstream and downstream of the industrial chain , Attract many enterprises to Chongqing .

at present , Chongqing has formed an electronic information system 、 Cars and parts 、 High-end equipment 、 The new material 、 Biological medicine 、 Specialty consumer goods 、 Eight industrial clusters with agricultural and sideline food processing and technical services as the core . Based on these industries , This mountain city gave birth to 58 home A Stock listed company , The total market value is 1.18 Trillion yuan .

This year, , Chongqing welcomes a wave IPO Small peak —— Hongxi Technology 、 Wangbian electric 、 Tohara Renzhi service （H stocks ）、 Yuxin electronics, etc 4 Chongqing companies were successfully listed , It just came out AI Unicorn cloud started in Chongqing from technology .

There are more Chongqing IPO hurry . data display , Line up this year IPO Chongqing enterprises have 11 home ： among A Shares in common 9 home , The gem has a maximum of 6 home ; Declare Hong Kong H Shares are listed 2 home , For Hongjiu fruit 、 Rural base . Chongqing , It is becoming a strong force in China's Venture Capital Territory .