January 7, 2021 – Qiming Venture Partners’ portfolio company APT Medical (SHSE: 688617) today successfully listed on the Science and Technology Innovation Board (the STAR Board) of Shanghai Stock Exchange. The issue price is CNY 74.46 per share. The stock opened at CNY 221.73 per share and closed at CNY 257.02 on the first trading day, up 245.18%, with a market cap of CNY 17.14 billion, or USD 2.65 billion.
Qiming is an A round investor and the largest institutional shareholder of APT Medical. Qiming’s RMB and USD funds combined own 19.35% of the company after the IPO.
The listing of APT Medical is the 13th successful public listing in Qiming Venture Partners’ portfolio in the past 12 months.
Founded in 2002, APT Medical provides coronary artery access and electrophysiological medical devices, peripheral blood vessels and nerve intervention medical devices, among others. APT Medical now is the domestic leader in China market and is expanding internationally. In 2019, APT Medical ranked No.1 in market share among domestic electrophysiological medical devices and ranked the third among domestic coronary artery medical devices, both in terms of sales amount, according to a Frost & Sullivan report.
"It’s our pleasure to support APT Medical to grow to a leading developer for minimally invasive cardiovascular interventional devices in China. Today the world is looking for better affordable care. APT has been investing heavily to design and produce products with better performance and at more affordable cost. We will continue to support APT and look forward to more exciting products.” said William Hu, Managing Partner of Qiming Venture Partners.
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston and the San Francisco Bay Area.
Currently Qiming Venture Partners manages nine US Dollar funds and six RMB funds with over $5.6 billion assets under management. Since our establishment, we have invested in outstanding companies in the TMT and healthcare industries at the early and growth stages.
Since our debut, we have backed over 370 fast-growing and innovative companies. Over 120 companies are already listed on NYSE, NASDAQ, HKEx, Gretai Securities Market, Shanghai Stock Exchange and Shenzhen Stock Exchange, or achieved exit through M&A and other means. There are also over 30 portfolio companies that have achieved unicorn status.
Many of our portfolio companies are today's most influential firms in their respective sectors, including Xiaomi (SEHK:1810), Meituan (SEHK:3690), Bilibili (NASDAQ:BILI), Roborock (SHSE:688169), Gan & Lee Pharmaceuticals (SHSE: 603087), Tigermed (SZSE:300347, SEHK:3347), Zai Lab (NASDAQ:ZLAB, SEHK:9688), Venus MedTech (SEHK:2500), CanSino Biologics (SEHK:6185, SHSE:688185), Schrödinger (NASDAQ:SDGR), APT Medical(SHSE:688617), Sanyou Medical (SHSE:688085), AmoyDx (SZSE:300685), Berry Genomics (SZSE:000710), SinocellTech (SHSE: 688520), WeDoctor Group, and UBTech among many others.
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