Surgerii Robotics, one of China’s four leading domestic surgical-robot firms, has had its STAR Market IPO accepted, its second run at the market after a 2023 attempt stalled. It is filing under the exchange’s fifth listing standard, which asks for a projected value above 4 billion yuan rather than revenue or profit, and plans to raise 700 million yuan: 280 million for product upgrades including the 600 and 700 series, 210 million for a global marketing network and 210 million for working capital.
Before the filing Surgerii had already closed ten rounds, a roster including state and industrial giants, with Shunwei Capital, Lei Jun’s investment arm, among them, alongside Medtronic and others. Founder Xu Kai is a Shanghai Jiao Tong professor and Columbia doctorate with over twenty years in surgical robotics. The firm holds 732 patents, 471 granted, and built a single-port system with fully home-grown core technology.
A Chinese first, a global second
Its lead product, the SR-ENS-600 single-port laparoscopic system, uses super-elastic nickel-titanium snake instruments controlled by a multi-body nonlinear deformation algorithm, the first China-approved and second globally approved single-port surgical robot, the first with full-population EU approval and the only one with CE certification for paediatric use. It has completed over 3,500 surgeries and won nineteen commercial projects at top Chinese tertiary hospitals. In the first half of 2026 it won a 2.42 million euro direct-sale contract at a famous Spanish public hospital, installed at Munich’s largest public hospital on a per-use basis, and gained French public-procurement qualification.
Revenue rose from about 0.45 million yuan in 2023 to 81.3 million in 2025, still loss-making but with the net loss narrowing to 132 million yuan from 195 million. The IPO is the next test of whether China’s surgical-robot champions can convert clinical wins into a durable public-market business.
Editor’s note: This is an adapted translation of the original OFweek report. It has been trimmed and restructured for readability for an international business audience.