Core Viewpoint - The Hong Kong IPO market remains vibrant as the digital health service platform, Easy Health Group, successfully listed, reflecting strong market confidence and potential for long-term investment returns [1][2]. Group 1: IPO Performance - Easy Health Group officially listed on the Hong Kong main board on December 23, with a first-day closing price of HKD 58.7, marking a 158.82% increase from its IPO price of HKD 22.68 [2]. - The company achieved a global subscription oversubscription rate of 1421 times, indicating high investor interest and confidence in its future growth [2][3]. - The strong performance on the first trading day was supported by a pre-listing dark market trading surge of over 127% [2]. Group 2: Business Transformation and Financial Performance - Easy Health Group has successfully transitioned to a comprehensive health service model, with revenue reaching HKD 945 million in 2024, a year-on-year increase of 92.9% [4]. - For the first half of 2025, revenue further increased to HKD 656 million, reflecting an 84.7% year-on-year growth, significantly outpacing industry averages [4]. - The company ranks 10th in the domestic digital health service and health insurance market, and 7th in the digital health service market, indicating a solid industry position [4]. Group 3: Business Model and Ecosystem - The dual-driven model of "health services + insurance technology" has established a comprehensive ecosystem, allowing users to access a full range of services from health monitoring to insurance claims [6]. - The health service business has become the core growth engine, with a compound annual growth rate of 221.26% over the past three years, and its revenue share reached 76.7% in the first half of 2025 [5]. - The integration of AI technology enhances operational efficiency and customer acquisition, creating a unique service barrier and further collaboration between health services and insurance [8][9]. Group 4: Technological Advancements - Easy Health Group has registered 58 invention patents and 39 software copyrights, demonstrating its commitment to technological innovation [7]. - The AI Care 4.0 system empowers various core scenarios in health management and insurance services, showcasing the company's technological capabilities [7]. - The AI marketing platform has generated 12.9 million business leads, with the value contribution from AI models increasing from 1.5% in 2022 to 23.3% in 2024, highlighting the effectiveness of AI in enhancing business performance [8]. Group 5: Market Potential and User Engagement - The platform has registered 168.4 million users, with 60.4% belonging to the core health consumer group aged 20-45, indicating a strong user base for business monetization [10]. - The company boasts a high user retention rate of 92.2% after 13 months, reflecting the platform's strong appeal [10]. - The ongoing growth in user conversion rates and insurance uptake demonstrates the effectiveness of the company's AI-driven marketing and product matching capabilities [11].
上市首秀表现亮眼，透视轻松健康(02661)成长价值进阶之路