香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 160 Health International Limited 健 康 160 国际有限公司 （於開曼群島註冊成立的有限公司） 香港，2025年9月19日 於本公告日期，董事會包括：(i)執行董事羅寧政先生、冀翠琳先生、黃浪先生及 王立法先生；(ii)非執行董事張如協先生及孫萌女士；及(iii)獨立非執行董事鄒鈞 先生、徐衛國博士及范明博士。 （股份代號：2656） 董事會召開日期 健康160国际有限公司（「本公司」，連同其附屬公司及合併附屬實體，統稱「本集 團」）董事（「董事」）會（「董事會」）謹此宣佈，本公司將於2025年9月29日（星期 一）舉行董事會會議，藉以（其中包括）批准本集團截至2025年6月30日止六個月 之中期報告以供發佈。 承董事會命 健康160国际有限公司 董事長、執行董事兼首席執行官 羅寧政先生 ...

Group 1 - Health 160 International Limited successfully listed on the Hong Kong Stock Exchange, raising approximately HKD 359 million through the issuance of 33.6455 million shares at HKD 11.89 each, with funds allocated for network expansion, R&D, service upgrades, strategic acquisitions, and daily operations [1] - The company has established a comprehensive digital service system covering pre-diagnosis, diagnosis, and post-diagnosis, connecting over 44,600 healthcare institutions, including 14,400 hospitals and 3,430 tertiary hospitals, serving over 55.2 million registered users [3][4] - Health 160's revenue has shown steady growth from RMB 525.6 million in 2022 to RMB 628.6 million in 2023, with Q1 2025 revenue reaching RMB 100.5 million, while adjusted net losses have significantly narrowed [4] Group 2 - The Chinese digital healthcare market is entering a period of explosive growth, with forecasts predicting a market size of RMB 740.1 billion by 2030 and a compound annual growth rate of approximately 22.4% from 2024 to 2030 [6] - Health 160 aims to leverage its successful Shenzhen model to accelerate the nationwide rollout of "160 Cloud Hospital," having established 11 regional operation centers to enhance operational efficiency and provide a one-stop service for online appointments, internet consultations, electronic prescriptions, and drug delivery [4][6]

Core Viewpoint - Health 160 International Limited has officially listed on the Hong Kong Stock Exchange, raising approximately HKD 359 million through the issuance of 33.6455 million shares at an offering price of HKD 11.89 per share [1] Company Overview - Health 160 was founded in 2005 in Nanshan District, Shenzhen, and has focused on enhancing the operational efficiency of healthcare institutions through internet technology and innovative models [1] - The company aims to assist healthcare professionals in managing patients and addressing various needs of individual users during the medical process [1] Fund Utilization - The net proceeds from the IPO will be used to expand medical resource coverage, strengthen research and development capabilities, diversify product and service offerings, and explore value-added services, strategic partnerships, acquisitions, as well as for working capital and general corporate purposes [1]

Core Viewpoint - Health 160 International Limited has officially listed on the Hong Kong Stock Exchange, raising approximately HKD 359 million to expand its medical resource coverage and enhance its research and development capabilities [1][4]. Company Overview - Founded in 2005 in Nanshan District, Shenzhen, Health 160 leverages internet technology and innovative models to improve the operational efficiency of healthcare institutions and assist healthcare professionals in managing patients [3]. - The company has developed a comprehensive healthcare service platform that integrates online and offline medical resources, offering services such as online appointment booking, internet consultations, electronic prescriptions, and drug delivery [4]. Business Model - Health 160 operates a dual-driven business model consisting of "pharmaceutical health product sales" and "digital healthcare solutions," connecting over 44,600 healthcare institutions and 902,300 healthcare professionals across more than 260 cities [5]. - The company is actively promoting the "160 Cloud Hospital" initiative nationwide, aiming to enhance the promotion and operational efficiency of healthcare institutions through digital means [5]. Financial Performance - Health 160 has demonstrated steady revenue growth over the past three years, with revenues of RMB 525.6 million, RMB 628.6 million, and RMB 620.7 million for 2022, 2023, and 2024, respectively [9]. - The adjusted net loss significantly narrowed from RMB 81.95 million in 2022 to RMB 35.69 million in 2023, and further to RMB 31.47 million in 2024, with the first quarter of 2025 showing an adjusted net loss of RMB 7.16 million [9]. Market Outlook - The digital healthcare market in China is expected to experience rapid growth, with the market size projected to reach RMB 740.1 billion by 2030, driven by the "Healthy China 2030" initiative and the "Internet + Healthcare" policy [9].

Core Viewpoint - The article highlights the significant market interest in digital healthcare platforms, exemplified by the successful IPO of Health 160, which saw a stock price increase of 137.34% on its first day, reflecting a market reevaluation of digital healthcare models [1] Company Profile - Health 160 has evolved from a simple appointment booking app to a comprehensive O2O platform that connects patients, healthcare institutions, and doctors, integrating SaaS solutions for hospitals [3][5] - The platform connects over 14,400 hospitals, 9,060 private medical institutions, and 29,000 grassroots medical facilities across China, facilitating various healthcare services [3] - Health 160's approach emphasizes deep hospital connections, a long service chain, and sustainable doctor management, distinguishing it from purely content-driven health platforms [5] Business Performance - Health 160's revenue has shown steady growth, with figures of approximately 526 million yuan in 2022, 629 million yuan in 2023, and 621 million yuan projected for 2024, alongside a first-quarter revenue of about 100 million yuan in 2025 [7] - Despite revenue growth, the company has faced consistent net losses of around 100 million yuan annually, although losses narrowed to approximately 17 million yuan in the first quarter of 2025 [7] - The primary revenue sources are pharmaceutical sales and digital healthcare solutions, with the latter having a gross margin exceeding 70%, making it the main profit driver [7] Industry Landscape and Regulation - The Chinese internet healthcare policy encourages compliant online services while emphasizing quality and payment security, aiming to enhance the efficiency of the healthcare system rather than replace traditional services [8] - The DRG/DIP reform is pushing hospitals towards cost control through improved process efficiency, aligning with Health 160's SaaS and operational services that support hospitals in this transition [8] Competitive Landscape - Health 160 differentiates itself from major competitors like Alibaba Health and JD Health by focusing on hospital connections and digitizing the patient journey, rather than primarily relying on drug retail and e-commerce [10][11] - The platform's strategy is to create a vertical service model that emphasizes deep integration with hospitals and doctors, which is crucial for building barriers to entry in the market [11][12] Future Outlook - The ability to deepen connections with hospitals and enhance service quality will be critical for Health 160's long-term success, as the competition shifts from user acquisition to the quality of connections and supply [13][15]

Policy Developments - The head of the National Medical Products Administration emphasized the importance of improving the efficiency of drug review and approval processes to ensure product quality and accelerate the market entry of new drugs [2] - Measures include prioritizing the review of urgently needed clinical products, reducing the review time for innovative drug clinical trials from 60 to 30 working days, and optimizing supplementary application review procedures [2] Industry Insights - The optimization of the review and approval process addresses the issues of "difficult and expensive medication" for patients, while also reducing time and institutional transaction costs for pharmaceutical companies, alleviating core pressures in R&D, production, and operations [3] Market Developments - Health 160 successfully listed on the Hong Kong Stock Exchange, closing at HKD 28.22 per share, with a market capitalization of HKD 9.495 billion [10] - Meikang Bio's subsidiary obtained a medical device registration certificate for four products, enhancing the company's product line and market competitiveness [7] Innovation and Drug Approvals - In the first seven months of the year, 50 innovative drugs were approved, surpassing the total of 48 for the entire previous year, indicating a strong momentum in drug innovation [13] - The approval of innovative drugs is driven by policy support, technological advancements, and increased capital investment, with a shift from me-too drugs to first-in-class innovations [13] Strategic Partnerships - Maiwei Bio signed an exclusive licensing agreement with Kalexo Bio, potentially receiving up to USD 1 billion in upfront and milestone payments, which is expected to positively impact the company's future performance [14]

Core Viewpoint - Health 160 International Limited, a digital healthcare company from Nanshan, Shenzhen, has successfully listed on the Hong Kong Stock Exchange, with its market capitalization approaching HKD 10 billion after a significant first-day surge in share price [1][3]. Company Overview - Health 160 issued 33.6455 million shares at an initial price of HKD 11.89 per share, closing at HKD 28.22 on its first trading day, representing a 137.34% increase [3]. - The total funds raised amount to HKD 400 million, which will be utilized to expand healthcare resource coverage, enhance research and development capabilities, diversify product and service offerings, explore value-added services, strategic partnerships, acquisitions, and general corporate purposes [3]. Business Model and Services - Since its establishment in 2005, Health 160 has developed a comprehensive healthcare service platform that integrates online and offline medical resources, offering services such as online appointment booking, internet consultations, electronic prescriptions, drug delivery, and digital hospital solutions [5][7]. - According to Frost & Sullivan, Health 160 is the largest digital healthcare service platform in China, based on metrics such as appointment volume, number of partner hospitals, coverage of tertiary hospitals, and the scale of healthcare personnel involved [7]. Industry Context - Nanshan District is a core hub for the biopharmaceutical industry in Shenzhen, showing robust growth with an expanding industrial scale, enhanced innovation capabilities, and increasing internationalization [9]. - The district has nurtured a complete industrial chain from basic research to commercialization, with notable companies like Mindray Medical, Kangzheng Pharmaceutical, and Microchip Biotech contributing to breakthroughs in innovative drugs [9]. Capital and Internationalization - In 2023, Nanshan has seen a surge in companies applying for overseas listings, with 15 new applications, indicating a trend towards international expansion among local enterprises [11]. - The district has established a comprehensive listing service mechanism to support high-quality development of companies, including policy support, technological innovation, and talent development [11].

Group 1 - Health 160 International Limited successfully listed on the Hong Kong Stock Exchange, raising approximately HKD 400 million by issuing 33.6455 million new shares [1][3] - The IPO was highly successful, with the public offering portion being oversubscribed by 751.77 times, and the final offer price set at HKD 11.89 per share [3] - On its first trading day, Health 160 opened at HKD 29.98, representing a 152.14% increase from the offer price, resulting in a potential profit of HKD 4,522.50 for a single board lot of 250 shares [3] Group 2 - Health 160 operates as a wholesale distributor of pharmaceutical health products and a leading provider of digital healthcare services, offering a comprehensive online health service platform [4] - The company employs a hybrid model of wholesale and retail to supply various health products to both corporate clients and individual users, while also providing digital healthcare solutions [4] Group 3 - Eddid Financial, the underwriter for Health 160's IPO, has extensive experience in assisting companies from various regions, including Singapore, Hong Kong, and mainland China, in their listing processes [3][5] - Eddid Financial is a comprehensive financial group based in Hong Kong, focusing on integrating fintech into its services, covering areas such as investment banking, asset management, and digital assets [5]

Core Viewpoint - Health 160 (02656.HK) successfully listed on the Hong Kong Stock Exchange, with a significant opening increase of 150.96%, reflecting strong investor interest and a market capitalization exceeding HKD 10 billion [2][4] Company Overview - Health 160 is a leading digital healthcare service provider in China, focusing on a dual business model of "pharmaceutical health product sales" and "digital healthcare solutions" [4][5] - The company has established a vast network connecting over 44,600 healthcare institutions and 902,300 healthcare professionals, serving more than 55.2 million registered users across over 260 cities [6] Financial Performance - The company has shown steady revenue growth over the past three years, with revenues of RMB 525.6 million, RMB 628.6 million, and RMB 620.7 million for 2022, 2023, and 2024 respectively [6] - The adjusted net loss has significantly narrowed from RMB 81.95 million in 2022 to RMB 35.69 million in 2023, and further to RMB 31.47 million in 2024 [6] Market Position and Growth Potential - Health 160 is recognized as the largest digital healthcare service platform in China, with a projected market size of RMB 740.1 billion by 2030, growing at a compound annual growth rate of 22.4% from 2024 to 2030 [7] - The successful listing is expected to enhance the company's market position and accelerate the comprehensive layout of its digital health service ecosystem [7]

Core Viewpoint - Health 160 International Limited (Health 160) has successfully listed on the Hong Kong Stock Exchange, with a closing price of 28.22 HKD, reflecting a significant increase of 137.34% from its opening price of 29.98 HKD. The company operates as a wholesaler of pharmaceutical health products and a provider of digital healthcare solutions in China [1]. Group 1: IPO Details - Health 160 issued a total of 33,645,500 shares in its global offering, with 3,364,750 shares allocated for the Hong Kong public offering and 30,280,750 shares for international offering [2]. - The final offer price for the shares was set at 11.89 HKD, resulting in total proceeds of 400 million HKD. After deducting estimated listing expenses of 83.9 million HKD, the net proceeds amounted to 316.1 million HKD [3]. Group 2: Use of Proceeds - The net proceeds from the global offering are intended to be used for expanding healthcare resource coverage, enhancing research and development capabilities, diversifying product and service offerings, exploring strategic partnerships and acquisitions, and for general working capital purposes [3]. Group 3: Financial Performance - Health 160 reported revenues of 525.6 million RMB, 628.6 million RMB, and 620.7 million RMB for the years 2022, 2023, and 2024 respectively, with quarterly revenues of 94.2 million RMB and 100.5 million RMB for the first quarters of 2024 and 2025 [5]. - Despite revenue growth, the company recorded operating losses of 79.2 million RMB, 99.5 million RMB, and 104.6 million RMB for the years 2022, 2023, and 2024, respectively, indicating ongoing challenges in achieving profitability [6]. - The adjusted net losses for the same periods were 118.9 million RMB, 111.2 million RMB, and 108.2 million RMB, with quarterly adjusted net losses of 40.6 million RMB and 17.1 million RMB for the first quarters of 2024 and 2025 [7].