Brief Introduction

CHISON Medical Technologies Co., Ltd. (“CHISON”) was founded in 1996. CHISON owns completely independent intellectual property rights and is a professional provider of ultrasound medical imaging systems and related technologies. CHISON has been focusing on the development, manufacture and sales of ultrasound medical imaging systems for more than 25 years. CHISON is providing various kinds of ultrasound medical imaging systems and professional development service to medical institutions, research institutions and strategic partners in China and abroad, to help the doctors on detection and diagnosis of disease.

CHISON is the company who made the localization of the ultrasound medical imaging technologies earlier in China. By adhering to technology philosophy of independent development in so many years, CHISON have mastered the complete and core ultrasound medical imaging technologies, which cover the following fields: (i) from 2D, 3D to 4D ultrasound, (ii) from probe key components, image processing algorithm, image analysis software to system design and development, (iii) from clinical application specialization, system portability to artificial intelligence & cloud platform solutions.

As National Competent Enterprise on Intellectual Property Rights, High-Tech Enterprise and Jiangsu Engineering Technology Research Center, CHISON has undertaken the following programs: (i) the twelfth five-year National Technology Support Program (“Development of special ultrasound diagnostic probe parts and system”) as leader, (ii) the thirteenth five-year National Key Development Program (“Development of 3D breast ultrasound volume imaging system and matrix probe”) as leader, (iii) China Torch Programs of Ministry of Science and Technology (3 times), (iv) Jiangsu Special Funds for transformation of Achievements on Science and Technology (2 times), and (v) Youth Foundation Program, National Natural Science Foundation of Jiangsu. All the above fully explains CHISON’s R&D capabilities on technology.

Thanks to long-term technology accumulation and continuous technology innovation, CHISON has set up a complete product line of ultrasound medical imaging systems, and can provide customers various kinds of ultrasound medical imaging systems covering the following product line: (i) from high-end Color Doppler Ultrasound System to Black/White Ultrasound System, (ii) shared-service systems to the systems for special applications, and (iii) from the trolley systems to portable systems. CHISON’s products have been awarded by National Key Product Promotion, Recommendation List and Catalog, such as “National High-Tech Product”, “National Key New Product” and “Excellent Domestic Medical Equipment”. CHISON’s products are popular in the market. CHISON’s products have been delivered to more than 100 countries/regions all over the world. CHISON has passed various internal certifications, such as CMD, CE (EU), FDA (US), CSA (Canada), KFDA (South Korea).

CHISON is the leading explorer and practitioner to combine artificial intelligence technology with ultrasound medical imaging technology in the industry. CHISON’s self-developed SonoAI system realized three leading artificial intelligence technologies in the world in the following fields: (i) four-classification of ultrasound breast imaging, (ii) the dynamic multimodality, (iii) carotid plaque stability/vulnerability, and made excellent achievements in the national ultrasound medical multimodality AI match of man vs. machine in October 2018 held by Chinese Ultrasound Doctors Association. By obtaining three software copyright registration certificates (i.e. CHISON SonoAI artificial intelligence ultrasound imaging auxiliary diagnosis software, artificial intelligence ultrasound diagnosis software for breast disease, and artificial intelligence ultrasound diagnosis software for carotid disease), and submitting the registration application of SonoAI to FDA, CHISON further shows its prospective technology roadmap and excellent technology innovation capability.

Company Overview

Abbreviations CHISON MEDICAL
Code 688358
Founded 1996/1/30
Listing 2019/12/3
Domicile No.228, Changjiang East Road, Block 51 and 53, Phase 5, Shuofang Industrial Park, Xinwu District, Wuxi, China 214142
STAR Theme Biomedicine
CSRC Sector Manufacturing
Has weighted voting rights structure? No



  2020 2019 2018
Earnings Per Share 1.25 1.70 1.58
R&D expenditure as a % of operating revenue 16.70% 14.07% 12.65%
Operating Revenue 333,092,749.95 369,755,664.61 326,965,666.19
Net Income 99,636,077.03 105,132,379.73 95,063,060.54

Income Statement (Unit: RMB mn)

  2020 2019 2018
Operating Revenue 333.09 369.76 326.97
Operating Costs 137.97 144.52 127.04
Operating Income 108.78 115.98 106.71
Pretax Income 111.51 117.95 107.08
Income Tax 11.88 12.81 12.01
Net Income 96.64 105.13 95.06

Balance Sheet(Unit: RMB mn)

  2020 2019 2018
Current Assets-Total 1,270.65 1,235.09 267.93
Non-current Assets-Total 78.95 55.41 55.57
Total Assets 1,349.60 1,290.50 323.50
Current Liabilities-Total 129.04 89.89 83.97
Non-current Liabilities-Total 27.66 29.82 30.36
Total Liabilities 156.70 119.71 114.33
Stockholder's Equity
Share Capital 80.00 80.00 60.00
Retained Profits 146.82 136.61 102.68
Total Owners' Equity 1,192.91 1,170.80 209.17

Cash Flow Statement (Unit: RMB mn)

  2020 2019 2018
Net Cash Flows-Operating 82.45 79.83 71.42
Net Cash Flows-Investing -748.61 -5.34 -5.77
Net Cash Flows-Financing -91.18 849.23 -18.95

Top 10 Shareholders

Name No. of Shares Held (mn) % of Shares Held
CHISON Investment Co., Ltd. 32.4 40.5%
Ruoli Mo 18.9 23.63%
Wuxi Xiangding Investment LLP 4.2 5.25%
Wuxi Xiangtong Investment LLP 1.8 2.25%
Shanghai Yude Technologies Co., Ltd. 1.5 1.88%
Wuxi Xiangpeng Investment LLP 1.2 1.5%
Industrial and Commercial Bank of China Co., Ltd.-Wells Fargo Culture, Sports and Health Equity Securities Investment Fund 0.92 1.15%
Guojin Innovation Investment Co., Ltd. 0.8 1%
Ordinary (Shanghai) Investment Management Co., Ltd.-Huijiu No. 3 Private Securities Investment Fund 0.76 0.94%
Industrial and Commercial Bank of China Co., Ltd.-Rongtong Health Industry Flexible Allocation of Hybrid Securities Investment Fund 0.58 0.72%
As of 2020-12-30

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