Desai Biologics IPO Hearing Approved; Plans to List on Main Board of Hong Kong Stock Exchange

MaticHoleFiller · 2026-03-22T04:33:31+00:00

Hangzhou Desfit Biotechnology has passed the Hong Kong Stock Exchange hearing and plans to list on the Main Board, becoming a pioneer in the field of medical imaging. The company specializes in the research and development of medical imaging products, with its core product, AI AutoVision®, having received certification. Financial data indicates a substantial increase in revenue in the first nine months of 2025, along with stable cash flow.

MaticHoleFiller

2026-03-22 04:33:31

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March 16 News, Hangzhou Deshi Biotechnology Co., Ltd. (hereinafter referred to as “Deshi Biotech”) has recently passed the Hong Kong Stock Exchange hearing and published the Hearing Post-Hearing Document Set (PHIP). It plans to list on the Main Board under Chapter 18A of the Listing Rules, with Huatai International as the sole sponsor. If the listing proceeds smoothly, it will become the first “Medical Imaging Large Model” stock on the Hong Kong Stock Exchange. The company has previously obtained approval for “full circulation” overseas listing and plans to issue no more than 31.004 million foreign ordinary shares. It is currently in the final issuance and listing stage.

Deshi Biotech is a medical device company focused on developing medical imaging products and services. It is also one of the early domestic companies to commercialize medical imaging foundational models. Its self-developed iMedImage® medical imaging foundational model can empower various clinical analysis scenarios, mainly covering reproductive health, hematologic malignancies, and other fields. The company’s core product, AI AutoVision® Chromosome Karyotype Assistance Diagnostic Software, has been recognized as a Class III innovative medical device by the National Medical Products Administration (NMPA). If registered and approved, it is expected to become the first domestically approved intelligent chromosome karyotype assistance diagnostic software (Class III medical device) in China.

According to the company’s Hearing Post-Hearing Document Set, a multi-center clinical trial report submitted as part of the registration materials shows an abnormal detection sensitivity of 100.00% and specificity of 100.00%, with structural abnormality sensitivity of 94.05% and specificity of 100.00%.

Financial data shows that by September 2025, Deshi Biotech’s revenue reached 112 million yuan, a year-on-year increase of 470%. Its overall gross profit margin was 75.9%, with a licensing technology business gross margin of 96.5%. As of September 30, 2025, cash and cash equivalents totaled 396 million yuan.

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