On April 18, Echo Medical Equipment (Beijing) Co., Ltd. saw the status of its application for listing on the Shanghai Stock Exchange's STAR Market updated to "under inquiry." CITIC Securities is serving as the sponsor for the offering, which aims to raise 1.1 billion yuan. According to its prospectus, the company is a national high-tech enterprise in the commercialization phase, focusing on the field of innovative neurointerventional medical devices. It integrates R&D, production, and commercialization and has been recognized as a national-level specialized and sophisticated "Little Giant" enterprise. Based on its forward-looking grasp of trends in neurointerventional diagnosis and treatment technologies, the company continuously enriches its core technology reserves through original innovation and expands its product pipeline via product innovation, providing precise diagnosis and treatment solutions for cerebrovascular diseases to doctors and patients. As of the signing date of the prospectus, the company has obtained approval in China for ten Class III medical devices for neurointerventional therapy and access, including the innovative medical device products Lattice® flow diverter stent, Grism® distal closure intracranial thrombectomy stent, and Attractor® intracranial thrombus aspiration catheter. Some products have also been approved or submitted for registration in overseas markets such as the United States and Southeast Asia. Additionally, the company has multiple products in clinical or preclinical development stages. In the hemorrhagic field, the Lattice® series flow diverter stent is the first and currently the only such stent in China equipped with a mechanical balloon delivery system and MIROR surface modification technology. Benefiting from superior product performance, its market share has grown rapidly since receiving approval through the "green channel" in 2022. By the first half of 2025, its national market share exceeded 20%, with cumulative end-user implants surpassing 11,000 units. The product has been included in the National Medical Industry Information Annual Conference Innovation Achievements by the Ministry of Industry and Information Technology, the Beijing Municipal Catalog of Major Technical Equipment (First Set), the Beijing Innovative Medical Device Product Catalog, and the Zhongguancun Innovative Medical Device Product Catalog. It has also been recognized by the National Intellectual Property Administration as a patent-intensive product. The pipeline product Coincide® liquid embolization system is intended for the treatment of chronic/subacute subdural hematoma. Upon market launch, Coincide® is expected to fill the gap in interventional therapy for this condition in China, offering a new option for patients. In the ischemic and access fields, the company has not only established a dual technical pathway combining the Grism® distal closure thrombectomy stent and the Attractor® intracranial aspiration catheter for "stent retrieval plus aspiration thrombectomy" but has also achieved full procedural coverage from puncture establishment to targeted release through access products such as the Cosine® series, Sine® series, and Paracurve®. This highly synergistic system-level diagnosis and treatment solution effectively eliminates potential clinical risks associated with intraoperative device incompatibility and has established significant brand switching barriers and user loyalty in terminal hospitals nationwide. Financially, for the years 2022, 2023, 2024, and the first nine months of 2025, the company reported revenues of approximately 900,900 yuan, 97.9874 million yuan, 199 million yuan, and 188 million yuan, respectively. During the same periods, net profits were approximately -103 million yuan, -363 million yuan, 16.9695 million yuan, and 36.3889 million yuan, respectively.