United Imaging enjoys successful STAR debut
Shanghai United Imaging Healthcare Co Ltd, which is based in Jiading District, was listed on the Shanghai bourse's Nasdaq-style STAR Market on August 22, issuing 100 million shares and raising a total of 10.99 billion yuan (US$1.57 billion).
The proceeds from the initial public offering will be used to fund research and development of next-generation products, including high-end medical imaging equipment.
The share price increased by more than 70 percent on the first day of trading, valuing the company at more than 150 billion yuan by the end of the day.
Founded in 2011, United Imaging is committed to developing and manufacturing high-performance advanced medical imaging and radiotherapy equipment, life science instruments, and providing intelligent digital solutions to customers worldwide.
United Imaging created China's first 3.0T magnetic resonance machine, reversing the country's lack of high-end imaging core technology and reshaping the international industrial pattern of high-end medical equipment.
Magnetic resonance is essential for the imaging diagnosis of major diseases such as cardiovascular, neurological, and tumors. It is essential in modern medical treatment.
United Imaging products have been recognized by a number of top-tier hospitals in China and have been adopted by hundreds of hospitals nationwide.
At the end of 2021, the company had over 2,000 R&D professionals, accounting for more than 35 percent of its total employees. More than 1,900 employees hold master's or doctoral degrees, and over 500 have overseas education or work experience.
Between 2019 and 2021, United Imaging posted revenue of 2.979 billion yuan, 5.761 billion yuan, and 7.254 billion yuan, respectively, with a compound growth rate of 56.03 percent. For the first half of 2022, its revenue is projected to be between 3.702 billion yuan and 4.165 billion yuan, a year-on-year increase of 20 percent to 35 percent.