TRT(SH:600085) Zheng Quan Shi Bao Wang·2025-06-30 14:19Core Viewpoint - Tongrentang Health Investment Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, aiming to leverage its established brand and extensive healthcare network to become a leading health and wellness industry group in China [1][2]. Group 1: Company Overview - Tongrentang Health Investment was established in 2015 and is a secondary group under the Tongrentang Group, which has three listed companies: Tongrentang in A-shares, Tongrentang Technology, and Tongrentang Guoyao in Hong Kong [1]. - The company focuses on the health and wellness sector, utilizing the historical "Tongrentang" brand and a solid industrial foundation to provide modern, customized, and one-stop traditional Chinese medicine services [1]. Group 2: Revenue Structure - The majority of Tongrentang Health's revenue comes from Beijing Tongrentang Traditional Chinese Medicine Hospital and Sanxi Hall Health Hospital, contributing 70.1%, 59.5%, and 65.1% of total revenue from 2021 to 2023 [2]. - Medical service revenue accounts for over 80% of the company's total revenue, with figures of 450 million, 596 million, and 731 million yuan from 2021 to 2023, representing 95.8%, 85.5%, and 81.6% of total revenue respectively [2]. Group 3: Financial Performance - The company's revenue increased from 470 million yuan in 2021 to 895 million yuan in 2023, with a compound annual growth rate (CAGR) of 38% [3]. - Gross profit rose significantly from 79.22 million yuan in 2021 to 193 million yuan in 2023, achieving a CAGR of 56.2% [3]. - After two years of losses, the company reported a profit of 44.59 million yuan in 2023 [3].