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    2170   CNE100004BC1

SUZHOU BASECARE MEDICAL CORPORATION LIMITED

(2170)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-09-30 am EDT
3.220 HKD   +0.94%
09/27Suzhou Basecare Medical H1 Loss Shrinks
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09/19Suzhou Basecare Medical Corporation Limited(SEHK:2170) dropped from S&P Global BMI Index
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08/29Suzhou Basecare Medical Corporation Limited Announces Executive Changes
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Basecare Medical and Haier Biomedical Join Forces to Build Cryopreservation Solutions

07/14/2022 | 03:28am EDT

Basecare Medical and Haier Biomedical Join Forces to Build Cryopreservation Solutions for Assisted Reproduction

Qingdao, Shandong, China - Suzhou Basecare Medical Corporation Limited ("Basecare Medical" or the "Company", together with its subsidiaries, the "Group", stock code: 2170) officially announced that the Company entered into a strategic collaboration framework agreement with Qingdao Haier Biomedical Co., Ltd. (hereinafter referred to as "Haier Biomedical"). According to the agreement, Basecare Medicaland Haier Biomedical will carry out collaborative R&D in cryogenic refrigeration of the assisted reproduction sector and jointly offer cryopreservation solutions for the assisted reproduction sector, which is another in-depth business collaboration following the capital collaboration between Basecare Medical and Haier Venture Capital FOF. Dr. LIU Zhanjie, founder and general manager of Haier Biomedical, Mr.LIU Dong, general manager of Haier Venture Capital Qianfeng FOF, and Dr. LIANG Bo, founder of Basecare Medical, attended the signing ceremony.

Embryo laboratory, andrology laboratory, and cryogenic storage laboratory are essential components in assisted reproduction. Cryogenic freezing technology, as an indispensable and important technology in the implementation of assisted reproduction, has been widely used in the field of assisted reproduction, providing guarantee and hope for the needy population to achieve reproductive needs and reproductive health. The 2018 "Chinese Expert Consensus on the Time Limit of Frozen Embryo Preservation" pointed out that cryopreserved embryos should be used within 5 years, and the longest preservation and clinical use period of couples planning to reproduce should not exceed 10 years, which means large amounts of storage resources will be increasingly invested in assisted reproduction centers, including storage containers, storage space & management, and maintenance work, etc. With the increase in the number of infertile and advanced mothers, the demand gap for fertility preservation continues to expand, and the market potential is vast.

Focus on fertility preservation, build cryopreservation solutions in the field of assisted reproduction

Haier Biomedical, the first company in Qingdao listed on the Science and Technology Innovation Board, was founded to engage in the R&D, manufacturing and sales of biomedical cryopreservation equipment. Haier Biomedical has comprehensively promoted the integration and innovation of IoT technology and low-temperature storage technology. It combines IoT software and hardware based on network communication and radio frequency identification technology with self-developed low-temperature storage products. Haier Biomedical updated traditional storage devices to the IoT solution, which effectively meets the needs of users such as clinical blood use, vaccination, and biobank application building the leading IoT technology ecosystem. Haier Biomedical took the lead in breaking the foreign monopoly, independently developed and mastered the core technology of ultra-low temperature refrigeration, and has become the unique service provider of biomedical cryopreservation equipment covering a full temperature range from -196 degree celsius to 8 degree celsius worldwide.

Basecare Medical is a third-generation IVF clinical solution provider in assisted reproduction in China and the first HKEx-listed IVD company in assisted reproduction. Basecare Medical has been adhering to the concept of " making innovative products ", adhering to the industrialization road of R&D, registration and certification. Basecare Medical has initiated the R&D of embryo intelligent storage equipment and management system. The independent developed domestic intelligent liquid nitrogen tank (BCT38A) and ultra-low temperature storage instrument (BSG800A), registration certificates are expected to be obtained in 2022 and 2023 respectively, are providing guarantee for the safety of fertility preservation and the scientific nature of experimental management. The intelligent liquid nitrogen tank (BCT38A) will become the first liquid nitrogen tank product in China to obtain the second-class medical device registration certificate.

In this strategic collaboration, the two parties will integrate their respective resource advantages such as products and channels, and jointly build a cryopreservation solution in assisted reproduction sector from market promotion, technical support, collaborative R&D, to registration and certification, promoting the development of fertility preservation related application scenarios. In addition, the new resource-sharing model will facilitate the development of the assisted reproductive industry, delivering good products and technologies to enter clinical applications quickly and effectively, so as to benefit more patients.

About Suzhou Basecare Medical Corporation Limited

Suzhou Basecare Medical Corporation Limited is a third-generation IVF clinical solution provider in the field of assisted reproduction in China and the first listed IVD company in the field of assisted reproduction (stock code: 2170.HK). It is committed to the product R&D and clinical application of high-throughput sequencing technology in the field of reproductive health. Basecare has been adhering to the concept of "innovative products", adhering to the industrialization road of R&D, registration and sales, and has a product pipeline covering embryo testing, andrology testing and fertility preservation. The PGT-A (pre-implantation chromosome aneuploidy testing) kit independently developed by the company has won China's first "special approval for innovative medical devices" green channel. It is the first third-generation tube testing product in China to obtain the registration certificate of Class III medical devices, opening the "certificate era" of genetic testing kits in the field of assisted reproduction in China.

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
QINGDAO HAIER BIOMEDICAL CO., LTD. 0.39% 62.28 End-of-day quote.-31.42%
SUZHOU BASECARE MEDICAL CORPORATION LIMITED 0.94% 3.22 Delayed Quote.-51.94%
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Financials
Sales 2022 205 M 28,9 M 28,9 M
Net income 2022 -148 M -20,8 M -20,8 M
Net cash 2022 1 145 M 161 M 161 M
P/E ratio 2022 -5,14x
Yield 2022 -
Capitalization 798 M 112 M 112 M
EV / Sales 2022 -1,69x
EV / Sales 2023 -0,67x
Nbr of Employees 430
Free-Float 27,6%
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Number of Analysts 3
Last Close Price 2,92 CNY
Average target price 7,37 CNY
Spread / Average Target 152%
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Managers and Directors
Bo Liang Chairman & General Manager
Yan Wang Chief Financial Officer
Bing Huang Chairman-Supervisory Board
Ling Yin Kong Executive Director & Chief Technical Officer
Mao She Rui Chief Operating Officer