Surgerii, one of China’s surgical-robot ‘four little dragons’, has had its STAR Market IPO accepted, its second run at the capital market after an aborted 2023 attempt. The company is targeting a 700 million yuan raise and intends to list under the exchange’s fifth standard, which requires a market cap above 4 billion yuan but no revenue or profit.
Founder Xu Kai is a Shanghai Jiao Tong University professor, a Tsinghua master’s graduate and Columbia PhD with more than 20 years in surgical robotics. His team has filed 732 patents with 471 granted, and built a single-port product matrix around the 600 and 700 series.
The flagship SR-ENS-600 uses proprietary super-elastic nitinol snake instruments controlled by multi-body nonlinear deformation algorithms, enabling precise bending direction and angle. It is China’s first and the world’s second approved single-port surgical robot, the first China-made robot with full-population EU CE certification, and the only CE-certified single-port system cleared for paediatric surgery. It won China’s NMPA approval in June 2023 and EU CE in August 2025, with an upgraded 660 variant approved in March 2026.
Clinically, Surgerii’s single-port robot has completed over 3,500 surgeries across urology, gynaecology, general and thoracic surgery and paediatric cases, and secured commercial projects at 19 leading Chinese tertiary hospitals. Internationally, it holds registrations in the EU, Hong Kong and Malaysia, won a Spanish public-hospital bid at 2.42 million euros, installed in Munich’s largest public hospital on a per-procedure basis, and qualified for France’s leading public procurement alliance.
Revenue climbed from 0.45 million yuan in 2023 to 18.6 million and 81.3 million in 2025, up 4,050% then 336%, while net losses narrowed from 191 million to 132 million yuan. Having closed 10 pre-IPO rounds with investors including Guotou, Shunwei, Medtronic and others, Surgerii plans to spend 280 million yuan on R&D, 210 million on global marketing and 210 million on working capital.
Read the original report (OFweek Robotics)
Translated and adapted from OFweek Robotics (robot.ofweek.com).