Hangzhou Deshi Biotechnology Co., Ltd. (Deshi Biotech) saw its Hong Kong IPO prospectus, submitted on June 29, lapse on December 29 after the six-month validity period expired. Huatai International acted as the sole sponsor at the time of the application. According to the prospectus, which cited Frost & Sullivan data, Deshi Biotech's self-developed iMedImageTM is recognized as the world's largest general-purpose medical imaging foundation model by parameter scale. The model has been successfully commercialized and is acknowledged as the world's first commercially available cross-modal medical imaging foundation model.