Shurui Seeks STAR Market IPO: China’s First Single-Port Laparoscopic Surgery Robot Faces Commercialization Test
Bot Telegraph July 29th report, the surgical robotics field welcomes a new IPO candidate, as Shurui Co., Ltd. has recently officially initiated the process of listing on the Science and Technology Innovation Board. The company is the first domestic and globally second enterprise to receive approval for listing a single-port laparoscopic surgical robot, and it is also the first Chinese surgical robot product to obtain the European Union’s CE certification.
Shurui Co., Ltd.’s founder, Xu Kai, is a professor at Shanghai Jiao Tong University, with an academic background traceable to studying under Professor Russell Taylor, known as the “father of medical robotics.” The company’s core competitiveness lies in its “dual continuum mechanism” technology, which utilizes a superelastic nickel-titanium alloy structural skeleton, achieving a breakthrough with a maximum lateral expansion distance of 22 centimeters, significantly surpassing the 7.8 centimeters of the comparable product, the da Vinci SP.
As of the end of 2025, Shurui Co., Ltd. has cumulatively applied for 732 patents, including 319 invention patents. Financial data shows that the company’s revenues from 2023 to 2025 were 449,000 yuan, 18.6275 million yuan, and 81.3083 million yuan, respectively, with net profits consistently in a loss state. The company expects to achieve breakeven by 2029.
As of the end of 2025, Shurui Co., Ltd.’s monetary fund balance was 919 million yuan, with a debt-to-asset ratio of only 6.40%. This IPO plans to raise a total of 700 million yuan. However, the company’s core product’s “nationwide unique” market position has been challenged, as Jingfeng Medical’s SP1000 product was approved in November 2023, with indications that almost completely overlap with Shurui’s product.
Additionally, historical corporate governance issues at Shurui Co., Ltd. have raised concerns, including matters such as equity proxy holding and low-price equity incentives. On the eve of the IPO, the company’s core management obtained equity with a market fair value of approximately 150 million yuan at a cost of less than 1.3 million yuan.
Source: Bot Telegraph China