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Bosheng Medical Devices Listed on the Innovation Board of the New Third Board, Embarking on a New Journey of Quality Improvement and Accelerated Growth

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发布时间：2022-08-09

【概要描述】 In the height of summer, all things thrive. On the morning of July 8, Jiangsu Bosheng Medical New Materials Co., Ltd., a subsidiary of Shijiazhuang No.4 Pharmaceutical Group, celebrated a double milestone: the listing of Bosheng Medical Materials on the Innovation Board (stock code: 873710) and the groundbreaking ceremony for its new biomembrane production facility were held simultaneously.

Bosheng Medical Devices Listed on the Innovation Board of the New Third Board, Embarking on a New Journey of Quality Improvement and Accelerated Growth

In the height of summer, all things thrive. On the morning of July 8, Jiangsu Bosheng Medical New Materials Co., Ltd., a subsidiary of Shijiazhuang Sihua Pharmaceutical Group, celebrated a double milestone: the listing of Bosheng Medical Materials on the Innovation Board (stock code: 873710) and the groundbreaking ceremony for its new biomembrane production facility were held simultaneously.

Being listed on the Innovation Board of the New Third Board signifies faster growth and a healthier development model. For Bosheng Medical Devices, however, listing is not the ultimate goal—it is merely a significant milestone and a strategic stepping stone. According to available information, Bosheng Medical Devices intends to continuously explore new pathways, models, and frameworks for innovative development by leveraging its industrial strengths and focusing on key areas, while fully harnessing the power of the capital markets. This will help the company achieve high-quality, leapfrog improvements across all its operations, further expand and strengthen its scale, comprehensively enhance its market competitiveness, and sustain its leading position in the pharmaceutical packaging industry.

Milestones and a New Beginning

Standardized Management Enhances Development Momentum

Bosheng Medical Materials is a company specializing in the R&D, production, and sales of innovative medical packaging materials. Its core products—including butyl rubber stoppers, polyisoprene gaskets, and multilayer co-extruded films—are widely used in intravenous infusion, antibiotic formulations, lyophilization, blood collection devices, biopharmaceuticals, and medical devices, where they protect products from external environmental factors and help ensure pharmaceutical quality and public medication safety. The company’s listing on the Innovation Board of the National Equities Exchange and Quotations and its subsequent public share transfer mark Bosheng Medical Materials’ official transition into a publicly held company.

According to available information, Bosheng Medical Devices is a key link in the pharmaceutical industry chain of Shijiazhuang Sihua Pharmaceutical Group. Since its acquisition in 2015, the Group has steadily increased its investment and support for Bosheng in areas such as product R&D, technological upgrading, and project development, while also formally establishing a strategic roadmap for Bosheng to spin off and list independently, thereby entering the capital markets.

Being listed on the Innovation Board of the New Third Board marks both a milestone and a new starting point. Wu Hengyao, President of Shijiazhuang Sihua Pharmaceutical Group, stated that Boson Medical Devices has ushered in a new era of integrated development between the product market and the capital market. He expressed the hope that the board of directors and the leadership team of Boson Medical Devices will remain true to their original mission of driving positive change in the industry and creating value through empowerment; respect the market, uphold regulatory compliance, adhere to strict ethical and legal boundaries, fulfill their responsibilities, and rise to the dual challenges posed by both the product and capital markets.

According to the introduction, listing on the New Third Board has had the most significant impact on Bosheng Medical Materials in terms of enhancing its brand image and visibility. In recent years, the company’s medical rubber stoppers and multilayer co-extruded films have gained a certain level of recognition domestically thanks to their excellent and consistent quality and performance. However, given that China’s medical packaging materials industry as a whole started relatively late, the company still lags behind internationally renowned industry leaders such as West Pharmaceutical Services and Sealed Air in terms of global brand awareness and other aspects. Leveraging the capital markets will further elevate the company’s brand value.

Secondly, it helps broaden financing channels and reduce financing costs. Undertaking automation and intelligent transformation of factories, further strengthening R&D capabilities, developing new products, and cultivating related markets typically require substantial capital investment. After listing on the exchange—and with the prospect of eventually entering the A-share market—companies will have access to a variety of financing channels and lower-cost financing options.

Thirdly, it helps broaden sales channels and reduce communication costs. Under the current drug marketing authorization holder system, pharmaceutical companies are strengthening on-site audits of suppliers and, when selecting suppliers of medical packaging materials, tend to favor industry-leading firms that boast strong overall capabilities, cutting-edge technological expertise, robust large-scale production capacity, stable product quality, and high brand recognition. Following the company’s listing, both existing and potential customers will have standardized and transparent access to key information regarding corporate governance, financial performance, quality control capabilities, and R&D strength, thereby reducing communication costs.

Finally, it will help the company further enhance its core competitiveness. Following the listing, each of the company’s key performance indicators will be benchmarked against those of its peers. To strengthen its competitive edge and address any weaknesses, the company will intensify efforts in areas such as improving corporate governance, boosting production efficiency, reducing manufacturing costs, attracting top talent, and enhancing R&D capabilities and product quality. Only by doing so can the company achieve efficient and sustainable growth while safeguarding the rights and interests of its shareholders.

A New Journey of Quality Improvement and Efficiency Enhancement

Enhancing Value Through Variety and Innovation

According to incomplete statistics, a total of 515 companies were recently added to the Innovation Layer of the New Third Board, bringing the total number of Innovation Layer companies to 1,696—the highest level since the tiered system was implemented—indicating significant improvements in both the scale and quality of the tier. From an industry perspective, the newly admitted companies are predominantly concentrated in advanced sectors such as information technology, high-end equipment manufacturing, new energy, new materials, and biopharmaceuticals.

According to industry insiders, the ongoing deepening of the New Third Board reform has led to a marked improvement in the overall quality of companies advancing to higher tiers, while the foundational and innovation tiers have further solidified their roles as the “reserve force” and “training ground” for listings on the Beijing Stock Exchange, thereby better supporting the innovative development of small and medium-sized enterprises.

“Listing on the Innovation Board is only a phased objective; ultimately, Bosheng Medical Devices aims to transfer to the Main Board and list on the A-share market,” said Zhang Guozhen, Chairman of Bosheng Medical Devices. He added that, going forward, the company will diligently comply with all requirements related to corporate governance, information disclosure, and operational standards, strive to enhance its operating performance and profitability, and proceed with its IPO on the Beijing Stock Exchange according to the timetable agreed upon with its sponsor.

Since its establishment in 2001, Bosheng Medical Devices has consistently prioritized product quality control and innovation, continuously investing in the research and development of novel medical packaging materials and obtaining relevant certifications for its quality management system. The company has established a Quality Management Department responsible for testing raw materials and finished products as well as overseeing the production process. Emphasizing preventive quality control, the company implements rigorous checks at every stage—from raw material procurement and manufacturing to the release of finished goods—ensuring product quality and enhancing customer satisfaction.

Leveraging its advantages in product quality, brand recognition, and R&D capabilities, the company has established long-term, stable partnerships with numerous well-known pharmaceutical enterprises, including Sinopharm Group, Hengrui Medicine, Yangtze River Pharmaceutical, Qilu Pharmaceutical, Zhengda Tianqing, Kolon Pharmaceutical, and Harbin Pharmaceutical Group.

In 2021, the company recorded operating revenue of RMB 295 million (excluding tax) and net profit of RMB 39.09 million. Specifically, rubber stoppers and gaskets generated RMB 171 million in operating revenue, while infusion films and biomembranes contributed RMB 121 million. Both segments posted substantial year-on-year growth compared with 2020.

Looking ahead, Bosun Medical Devices will leverage its independently developed core technologies and sustained R&D investment to stay abreast of emerging trends and developments in downstream industries. By successfully developing medical packaging materials that meet customer needs, the company will continuously strengthen its profitability and enhance its value through quality and innovation.

Originally published in: Pharmaceutical Economic News

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