Core Viewpoint - The recent IPO of Ming Kee Hospital (02581.HK) and three other stocks on the Hong Kong Stock Exchange faced significant declines on their debut, with Ming Kee Hospital experiencing the largest drop of over 38.5% from its issue price of 9.34 HKD to approximately 5.74 HKD [2][3]. Group 1: IPO Performance - Four new stocks, including Ming Kee Hospital, were listed on December 22, with all experiencing a drop on their first trading day [2]. - Ming Kee Hospital had a subscription rate of 6.28 times during the public offering phase, with 670,000 shares allocated, representing about 10% of the total shares [2]. - The international placement phase saw a subscription rate of 1.28 times, with 60.3 million shares allocated, accounting for 90% of the total shares [2]. Group 2: Company Overview - Ming Kee Hospital is a private profit-oriented general hospital group in mainland China, operating two hospitals with a total of 1,850 registered beds and over 1,000 experienced doctors, including 35 experts from Taiwan and overseas [3]. - The hospital group is projected to serve over 2 million outpatient visits and perform over 22,000 inpatient surgeries in 2024 [3]. - According to Frost & Sullivan, Ming Kee Hospital is the largest private profit-oriented general hospital group in East China, holding a market share of 1.0% based on total revenue for 2024 [3]. Group 3: Financial Performance - Ming Kee Hospital's revenue from 2022 to the first half of 2025 is projected to be 2.336 billion RMB, 2.688 billion RMB, 2.659 billion RMB, and 1.312 billion RMB, respectively, with corresponding profits of 90 million RMB, 167 million RMB, 109 million RMB, and 49 million RMB [3]. - There has been a noticeable decline in profit performance in recent years [3].
【IPO追踪】四只新股齐破发！明基医院现已大跌逾38%