Company Overview -卓正医疗控股有限公司 has submitted its third listing application to the Hong Kong Stock Exchange, with Haitong International and浦银国际 as joint sponsors [1] - As of 2024,卓正医疗 is the third largest private mid-to-high-end comprehensive medical service provider in China, holding a market share of 2.0% [3] - The company operates 19 medical service institutions in China, including 17 clinics and 2 hospitals, and has expanded to Singapore and Malaysia [3] Business Model and Strategy -卓正医疗 focuses on the mid-to-high-end medical service market, targeting affluent consumers who prefer personalized healthcare [3] - The company employs a family medical model that integrates physical and online medical services, resulting in a growing patient base [4] -卓正医疗 plans to expand its network through organic growth and strategic acquisitions, aiming to penetrate more new first-tier cities [3] Financial Performance - Revenue has shown a consistent upward trend, with figures of RMB 473.2 million in 2022, RMB 690.4 million in 2023, and RMB 958.6 million in 2024, with RMB 614.8 million reported for the first eight months of 2025 [8] - The company recorded net losses of RMB 222 million in 2022 and RMB 353 million in 2023, but achieved net profits of approximately RMB 80.2 million in 2024 and RMB 83.2 million in the first eight months of 2025 [9] - Gross profit margin increased from 9.3% in 2022 to 23.6% in 2024, attributed to improved operational efficiency and increased patient visits [10] Market Overview - As of 2024, there are 1.092 million medical service institutions in China, with private institutions growing at a compound annual growth rate (CAGR) of 3.5% from 2020 to 2024 [12] - The revenue of private medical service institutions in China is projected to grow from RMB 676 billion in 2020 to RMB 1.292 trillion in 2024, with a CAGR of 17.6% [12] - The number of paid patient visits to private medical institutions increased from 1.157 billion in 2020 to 1.577 billion in 2024, with expectations for further growth [13] Competitive Advantages -卓正医疗's competitive advantages include high brand recognition, a growing patient base through its integrated service model, and a stable team of highly qualified doctors [5] - The company has a centralized, standardized, and digital management system, along with early adoption of artificial intelligence technology to enhance service quality and operational efficiency [5] Governance and Management - The board of卓正医疗 consists of 11 members, including two executive directors and four independent non-executive directors, responsible for business management and operations [15] - The company has attracted significant investment from institutions such as Tencent and富德生命人寿, with Tencent holding 19.39% of the shares [19]
新股消息 | 卓正医疗三次递表港交所 年内营收6.96亿 腾讯与H Capital是股东
智通财经网·2025-11-05 12:29