Junxin Capital celebrates the successful IPO of Sandi Tian Di, setting a positive trajectory for the domestic LIMS and MDM markets.

Information on the Target

On January 7, 2022, Sandi Tian Di (301159.sz), a leading domestic provider of Laboratory Information Management Systems (LIMS) and Master Data Management (MDM), successfully listed on the Growth Enterprise Market (GEM) of the Shenzhen Stock Exchange. The stock opened at 57 RMB, achieving a market capitalization of 4.409 billion RMB. By the end of the trading day, it had closed at 60.1 RMB, with a closing market cap of 4.649 billion RMB. Under this IPO, Junxin Capital’s subsidiary, Suxin Fund, realized an unrealized gain of 122 million RMB, resulting in a return multiplier of 3.1 times and an IRR of nearly 70%. This marks Junxin Capital's fifth successful IPO project following previously listed companies in pharmaceuticals and technology.

Sandi Tian Di is recognized as the preferred brand for domestic LIMS and MDM solutions in China, boasting a robust clientele that includes large technology firms, significant industrial corporations, esteemed pharmaceutical enterprises, and government agencies (such as various health commissions). Their software has been crucial in meeting the increasing demands for technological implementation in research and quality control.

Industry Overview in China

The LIMS and MDM sectors in China have historically been dominated by foreign software providers. However, both the trend towards digitization of research and quality control processes among domestic enterprises and heightened concerns regar