Medical device companies become the new main force in A-shares! Four stocks have gone public this year, with each experiencing an increase of over 170% on their first day.

Since 2026, the A-share market has welcomed 16 new stock listings, with four in the medical device sector, becoming one of the highlights of the new stock market at the start of the year. Beijing Business Daily reporters found that the medical device companies listed this year include the “rising star” Beixin Life (688712) on the STAR Market, as well as Haisheng Medical, Aide Technology, and Aisheren on the Beijing Stock Exchange. All four stocks saw first-day gains of over 170%, demonstrating the capital market’s strong recognition of the medical device sector.

Behind the impressive stock performance is solid fundamental performance. As a company listed under the fifth set of standards on the STAR Market, Beixin Life is expected to turn a profit in 2025. The other three Beijing Stock Exchange companies are also projected to see growth in 2025. Currently, there is a sufficient pipeline of medical device companies preparing for listing, including two companies in the artificial heart field—Suzhou Tongxin Medical Technology Co., Ltd. (“Tongxin Medical”) and Shenzhen Core Medical Technology Co., Ltd. (“Core Medical”)—both vying to become the first domestically produced artificial heart stock.

Outstanding Performance on Listing Day

From the market performance perspective, these four new medical device stocks can be described as a “good start.”

Trading data shows that Beixin Life, which listed on the STAR Market on February 5, performed the best, closing its first day with a 183.33% increase. During the day, its stock price once rose over 200%, with total trading volume reaching 1.409 billion yuan, and its market capitalization temporarily exceeding 20 billion yuan.

Haisheng Medical, the newest listing in the medical device field, listed on the Beijing Stock Exchange on February 12, closing its first day with a significant 172.86% increase. Additionally, Aide Technology and Aisheren listed on the Beijing Stock Exchange on February 10 and January 21, respectively, with first-day gains of 176.79% and 175.59%.

However, after listing, the stock prices of these companies experienced some pullback. As of the close on February 13, their stock prices were 39.48 yuan, 29.56 yuan, 18.77 yuan, and 36.07 yuan per share, with market caps of 16.46 billion yuan, 2.226 billion yuan, 2.217 billion yuan, and 2.441 billion yuan, respectively.

In terms of business segments, each of these four stocks operates in different niches. As the only company among them listed on the STAR Market, Beixin Life focuses on innovative medical devices for precise diagnosis and treatment of cardiovascular diseases, aiming to develop transformative solutions for cardiovascular care.

Notably, Beixin Life is the first domestic medical device company to possess a complete portfolio of intravascular functional FFR and imaging IVUS products, filling a domestic market gap and changing the previous reliance on imported products for clinical diagnosis of coronary artery disease in China.

The three companies on the Beijing Stock Exchange each have their own characteristics. Haisheng Medical has over 20 years of experience in anesthesia medical consumables, mainly engaged in R&D, production, and sales of various anesthesia-related medical devices. Aide Technology specializes in orthopedic medical devices, providing trauma, spinal, and wound care solutions. Aisheren focuses on the R&D, design, production, and sales of personal care and medical supplies.

Performance Growth in 2025

Although these four medical device companies operate in different niches, they all delivered solid results in 2025.

As a company listed under the fifth set of standards on the STAR Market, Beixin Life initially reported continuous losses during its IPO application. However, it is projected to turn profitable in 2025.

In its prospectus, Beixin Life stated that based on current operations and market conditions, it expects revenue between 520 million and 560 million yuan in 2025, representing a 64.24% to 76.88% increase from the previous year; net profit attributable to shareholders between 78 million and 88 million yuan, up 278.91% to 301.85%. The Beijing Business Daily contacted Beixin Life’s board office for an interview but received no response.

Haisheng Medical, Aide Technology, and Aisheren are also expected to see varying degrees of growth in 2025. Financial data shows Haisheng Medical’s revenue will reach 345 million yuan, up 13.68%, with net profit around 85.82 million yuan, up 21.01%. Aide Technology’s revenue is approximately 302 million yuan, up 9.74%, with net profit about 77.75 million yuan, up 15.82%.

Additionally, Aisheren projects revenue of approximately 890 million to 940 million yuan in 2025, an increase of about 28.65% to 35.89%, driven by increased downstream demand and expanded production capacity. Its net profit is expected to be between 89.29 million and 98.48 million yuan, up about 10.63% to 22.01%.

Lin Xianping, associate professor at Zhejiang University City College and executive deputy secretary-general of the China Urban Experts Think Tank Committee, believes that since 2026, medical device companies account for a quarter of newly listed companies in the A-share market. Many of these companies experienced high first-day gains, reflecting that the medical device industry is in a high-growth cycle with increasing capital attention.

Lin further explained that the surge in first-day stock prices mainly stems from the sector’s essential demand and growth scarcity, combined with improving corporate performance, clear R&D pipelines, and market capital preferences, which collectively boost valuation performance.

Ample “Reserve Troops”

It is worth noting that the wave of medical device listings continues. Currently, several companies are queueing for IPOs, including Guangdong Bomei Medical Technology Co., Ltd. (“Bomei Medical”), which is preparing for a listing on the ChiNext Board and is the only medical device company currently waiting in Shenzhen’s market.

According to its prospectus, Bomei Medical focuses on R&D, production, and global sales of high-performance vascular interventional devices. It is a leading provider of complex vascular disease intervention solutions worldwide and the top domestic producer of vascular interventional balloon catheters. The company plans to raise 1.7 billion yuan through its ChiNext IPO, mainly for projects including the Songshan Lake global headquarters and the first phase of its Hunan manufacturing base.

In addition, two companies in the artificial heart field—Core Medical and Tongxin Medical—are also queueing on the STAR Market, both aiming to become the first domestically produced artificial heart stock. Although neither has achieved profitability yet, they each have different product portfolios and are seeking market recognition. Both companies have already listed some core products.

Wang Wenxi, vice chairman of the China Enterprise Capital Alliance, noted that the sector’s listing choices show a differentiated pattern. The fifth set of standards on the STAR Market focuses on high-end innovative medical devices, suitable for unprofitable but technologically advanced companies. The Beijing Stock Exchange serves innovative small and medium-sized enterprises, suitable for established niche leaders with stable revenue and profits.

Wang also mentioned that the medical device industry is shifting from “concept hype” to “performance-driven,” and only companies with real strength will continue to be recognized in the secondary market. Investors should focus on core factors such as technological originality, commercialization capability, and profitability.

Beijing Business Daily reporter Ding Ning