Chinese biotech/instrument companies struggle to achieve profitability while pursuing IPO listings

Early-stage Chinese scientific instrument manufacturers face massive accumulated losses (近6亿元 in this case) while attempting to go public on competitive exchanges like the Science and Technology Innovation Board (科创板). Companies burn cash on R&D and market development but lack sufficient revenue to offset costs, creating a critical credibility gap with regulators and investors who scrutinize profitability metrics before approval.