Brief News: Tianxing Medical's midday increase of 132% exceeds 7,800 times

Medical device company Beijing Tianxing Medical Co., Ltd. debuted on Tuesday, opening at HKD 288, up 192% from the offering price, and closing at noon up 132%. The company offered 8.422 million shares at a price of HKD 98.5 per share, raising a net amount of HKD 758 million. The public offering was oversubscribed by 7,822 times, and the international placement was oversubscribed by 9.4 times. In 2024, based on sales revenue, Tianxing Medical is the fourth largest provider of sports medicine implants and devices in China, with a market share of approximately 6.5%. Last year's revenue was HKD 403 million, an increase of 23% year-on-year; net profit was HKD 137 million, up 44% year-on-year. The funds raised will be used to expand productivity, research and development, and marketing