---
title: "[TrueZhuo IPO Update] Tianxing Medical (01609.HK) to launch Hong Kong IPO"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40165008.md"
description: "$STAR SPORTS MED(01609.HK) is a China-based medical device company, focusing on clinical solutions for sports medicine. According to CIC data, based on 2024 sales revenue, it is the fourth largest provider of sports medicine implants and devices in China, with a market share of approximately 6.5% of China's sports medicine implant and device market, and also the largest domestic provider of sports medicine implants and devices. Sky Star Medical's strength lies in its biomaterials R&D, which is also the company's main source of revenue, with implant revenue accounting for 77.1% of the total..."
datetime: "2026-04-24T08:51:56.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40165008.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40165008.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40165008.md)
author: "[真灼财经](https://longbridge.com/en/profiles/1067948.md)"
---

# [TrueZhuo IPO Update] Tianxing Medical (01609.HK) to launch Hong Kong IPO

$STAR SPORTS MED(01609.HK) is a China-based medical device company, focusing on clinical solutions for sports medicine. According to CIC data, based on 2024 sales revenue, it is the fourth largest provider of sports medicine implants and devices in China, accounting for approximately 6.5% of the Chinese sports medicine implant and device market, and is also the largest domestic provider of sports medicine implants and devices.

The strength of Tianxing Medical lies in its biomaterials R&D, which is also the company's main revenue source, with implant revenue accounting for 77.1% of the total. Surgical equipment and related consumables account for the remaining 22.8% of revenue. Currently, the company has 24 approved biomaterial platform product types and 4 additional products under development; 34 approved imaging power platform product types and 15 additional products under development.

The market expects the size of China's sports implant market to reach a compound annual growth rate (CAGR) of 16.2% from 2024 to 2030, reaching 7.7 billion RMB. The size of the overseas implant market is expected to grow at a CAGR of 7.1% from 2024 to 2030, reaching 40.3 billion RMB.

Strategically, the company is actively increasing overseas revenue sources, expanding its overseas marketing network, and selling products at higher average selling prices to drive rapid growth in revenue and profit margins. However, current production capacity is full, and short-term revenue growth momentum may be limited. To address growth space constraints, the company has plans to increase capacity by building new production facilities, expected to commence operations in 2027.

Tianxing Medical introduced 4 cornerstone investors, collectively subscribing to 34.7% of the offering shares.

This IPO does not have a mandatory clawback mechanism. The maximum reallocation to the Hong Kong public offering cannot exceed 15% of the total number of shares in the global offering.

Source: KGI Securities

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