Sakesaisi Biotechnology Co., Ltd. (referred to as "Sakesaisi") recently had its IPO terminated.

Sakesaisi had submitted its prospectus in March 2026, preparing to list on the STAR Market. Sakesaisi originally planned to raise 635 million yuan, of which 200 million yuan was for the Sakesaisi medical device industrialization upgrade project, 120 million yuan was for the Sakesaisi innovative medical device comprehensive production line construction project, and 315 million yuan was for new product research and development projects.

Sakesaisi's listing journey has been quite turbulent. It filed in 2023, preparing to list on the Shenzhen Stock Exchange, but was terminated in January 2025. In March 2026, it submitted its prospectus again, preparing to list on the STAR Market, and half a year later, it was terminated once more.

Annual Revenue of 338 Million Yuan, Net Profit of 168 Million Yuan

Sakesaisi focuses on the research and development, production, and sales of absorbable implantable interventional medical devices.

Sakesaisi has formed a product system of absorbable innovative medical devices covering multiple departments including neurosurgery, cardiovascular surgery, general surgery, orthopedics, and tumor radiotherapy.

Sakesaisi's revenue for 2023, 2024, and 2025 was 379 million yuan, 331 million yuan, and 338 million yuan respectively; net profit was 153 million yuan, 161 million yuan, and 168 million yuan respectively; non-GAAP net profit was 149 million yuan, 143 million yuan, and 151 million yuan respectively.

Zou Fangming Controls 96% of the Equity

Before the IPO, Sakesaisi's actual controller Zou Fangming held 99.19% and 98.53% of the shares of Shanghai Saixing and Shandong Saier respectively, controlling 72.11% of the shares through Saixing Holdings, which is controlled by Shandong Saier and Shanghai Saixing; Zou Fangming's controlled Shanghai Saixing held 62.57%, 75.90%, and 95.40% of the property shares of Jinan Saiming, Jinan Baosai, and Jinan Huasai respectively, and Shanghai Saixing serves as the executive partner of Jinan Saiming, Jinan Baosai, and Jinan Huasai.

Zou Fangming controls 22.22% of Sakesaisi's shares through the above three employee stock ownership platforms; Zou Fangming's controlled Shanghai Saixing directly holds 1.23% of Sakesaisi's shares.

In summary, Zou Fangming collectively controls 95.56% of Sakesaisi's shares and is the actual controller of Sakesaisi.