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According to information released by the Shanghai Stock Exchange, Shenzhen Stock Exchange and Beijing Stock Exchange last week (August 19 to August 25, 2024), a total of four companies withdrew their IPO application materials, including one from the Science and Technology Innovation Board and three from the Growth Enterprise Market.

Jiangsu Fenghe Medical Equipment Co., Ltd.

Fenghe Medical is a leading innovative enterprise in China that focuses on the research, development, production and sales of minimally invasive surgical instruments and consumables. Since its establishment, the company has always been committed to independent research and development and technological innovation to create high-performance minimally invasive surgical instrument products to meet the growing and changing clinical needs of minimally invasive surgery.

Analysis of reasons for withdrawal:The company is involved in four lawsuits with Johnson & Johnson's subsidiaries, Isikang and Shanghai Johnson. In two of the lawsuits, the company lost the first instance and was required to immediately stop infringing on Johnson & Johnson's patents and pay a total of RMB 10.2 million in compensation. Although the company has appealed, the second instance has not yet been decided. The above pending lawsuits increase the company's operating risks. In addition, the company's excessive sales expenses also need some explanation.