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	Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
	REFIRE 02570.HK	Electrical Components & Equipment	145-165	20	3,333	2024/12/03	2024/12/05	2024/12/06
	Dmall 02586.HK	Application Software	30.21	100	N/A	2024/12/03	2024/12/05	2024/12/06

Summary

We are an innovative platform of genetic testing solutions for assisted reproduction in China, according to Frost & Sullivan. Our PGT-A kit, which screens for aneuploidy, a chromosomal disorder frequently associated with implantation failure in in vitro fertilization, or IVF, in embryos prior to implantation, is the first and only third-generation IVF genetic test kit which has been approved by the NMPA, compare to other PGT-A products based on fluorescence in situ hybridization (FISH) and quantitative polymerase chain reaction (qPCR) technologies. The NMPA registration of our PGT-A kit, in February 2020, as a Class III “innovative medical device,” marked the birth of a regulated third-generation IVF market in China in which we are, to date, the only approved kit maker. There are other PGT-A kits in China that are in the process of applying for the NMPA registration certificate and sold for limited scientific research purposes. We are developing two other pre-implantation genetic testing, or PGT, products, namely, PGT-M and PGT-SR kits, which, together with our PGT-A kit, would form a complete test kit lineup to occupy the PGT field, all based on next-generation sequencing, or NGS, technologies. We expect to obtain NMPA registration approval for these kits in 2022 and 2024, respectively, which we anticipate would further our dominance in the third-generation IVF genetic test kit market in China, well ahead of potential competition. Leveraging our core strength in PGT, we have positioned ourselves to become an innovative platform in China's broader reproductive genetics market. We have extended our reach beyond the pre-implantation stage to the prenatal and postnatal stages, and are developing one kit in each stage, which makes us a company in China with a genetic test kit pipeline that covers the full reproductive cycle, according to Frost & Sullivan. Beyond test kits, we have developed a number of innovative devices and instruments that can improve work flow in molecular genetic laboratories with our kits. In addition to our self-developed products, we also distribute DA8600, the only NGS sequencer approved by the NMPA for PGT, on which our test kits are designed to run, and a number of other test kits. We have pioneered a solution model under which we provide our clients, which are hospitals and reproductive clinics in China offering the relevant assisted reproductive services, with one-stop, customized integrated solutions, including not only consumables (test kits) and hardware devices and instruments but also comprehensive services, such as providing guidance and advice on laboratory design, operation and management, pre-sale and after-sale technical support, on demand based on specific individual needs, to help them establish from scratch, and further enhance, their reproductive genetic testing, analysis and counseling capabilities. Through our comprehensive solutions, we aspire to empower our clients to better serve reproductive patients in China in ways that did not exist before. Third-generation IVF is only beginning to develop in China. The large population base, growing awareness and acceptance of PGT as part of IVF treatments, and a PGT penetration rate that is significantly lower than that in the United States suggest significant growth potential. Based on our dominant leadership in PGT, we believe we are strategically positioned to serve the larger reproductive genetics medical devices market. We have strong R&D capabilities based on a clinically driven R&D model to develop one-stop, customized integrated reproductive genetics solutions to address unmet clinical needs in China, tailored to overcome the challenges specific to the Chinese patient population. We focus on developing intellectual property—a combination of patents, copyrights, proprietary know-how and trade secrets—for products and solutions that we believe have mass-market demand potential and clear regulatory pathway visibility. In addition to conducting internal R&D programs, we partner with key business partners in many aspects of our business, such as major hospitals and reproductive clinics in China, global life sciences and biotechnology companies in the industry, such as Thermo Fisher, and academic institutions, such as the Chinese University of Hong Kong. We maintain solid relationships with influential KOLs and physicians in the assisted reproduction medical field and establish joint laboratories with major hospitals and reproductive clinics in China, so that we understand the most acute needs of frontline clinical care. We believe our holistic R&D approach and comprehensive capabilities have been the foundation of our industry position. We have a dedicated management team with deep industry experience and firm commitment to the reproductive genetics cause, led by our founder and chairman of the Board, Dr. Liang. With over ten years of experience in bioinformatics, Dr. Liang has not only led the development of successful products and technologies in the genetic testing field, but also enjoyed a good reputation in the academic community, having co-published over 20 academic papers in respected scientific journals. Our R&D team has a stable core of industry veterans, including Dr. Liang, who have worked together in the reproductive science industry for almost a decade. Source: Basecare-B (02170) Prospectus (IPO Date : 2021/01/27)
Listing Market	MAIN
Industry	Biotechnology
Background	H Shares
Major Business Area	N/A

Corporate Information

Substantial Shareholders	LIANG Bo & Associates (Total share: 33.39%); (H share: 0.00%) XU Wenbo & Associates (Total share: 6.06%); (H share: 0.00%) Beijing Zhongcheng Fangyuan Phase II Investment Center (Limited Partnership) (Total share: 5.55%); (H share: 0.00%) Hillhouse Investment Management, Ltd. (Total share: 4.99%); (H share: 7.26%) OrbiMed Capital LLC (Total share: 2.97%); (H share: 9.81%)
Directors	LIANG Bo (Chairman and General Manager and Co-Chief Financial Officer and Executive Director) KONG Lingyin (Chief Technology Officer and Executive Director) JIANG Junchao (Executive Director) WANG Weipeng (Non-Executive Director) XU Wenbo (Non-Executive Director) LING Yang (Non-Executive Director) KANG Xixiong (Independent Non-Executive Director) LAM Siu Wing (Independent Non-Executive Director) YEUNG Shu Biu William (Independent Non-Executive Director)
Company Secretary	Chung Ming Fai Yin Lejun
Principal Bankers	Shanghai Pudong Development Bank Co., Ltd.
Solicitors	Kirkland & Ellis International Jingtian & Gongcheng
Auditors	KPMG
Registered Office	40th Floor, Dah Sing Financial Centre, 248 Queen’s Road East, Wanchai, Hong Kong
Share Registrars	Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No	(852) 2862-8628
Internet Address	http://www.basecare.cn
Email Address	[email protected]
Tel No	(86 400) 188-7878
Fax No

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