Core Viewpoint - Future Health Technology Co., Ltd. is preparing for an IPO in Hong Kong, aiming to raise funds for enhancing its health technology R&D capabilities, brand building, and multi-channel marketing [1][11]. Company Overview - Future Health is a leading company in the smart wearable health device sector in China, known for its massage device brand "SKG" [1][2]. - The company has focused on smart wearable health devices since 2016, utilizing medical-grade technologies such as medium-frequency pulse and transcutaneous electrical nerve stimulation (TENS) [2]. Financial Performance - For the first three quarters of 2025, the company reported a profit of 106 million yuan, with a revenue of 878 million yuan, reflecting a year-on-year growth of 16.22% in revenue and 24.92% in profit [5]. - The company’s revenue for the years 2022, 2023, and 2024 was 904 million yuan, 1.046 billion yuan, and 1.045 billion yuan respectively, with corresponding profits of 119 million yuan, 127 million yuan, and 135 million yuan [4]. Product Segmentation - The core product, neck and shoulder relief wearable devices, accounted for over 40% of revenue but saw a decline in revenue by 1.85% year-on-year in the first three quarters of 2025, generating 385 million yuan [6]. - Revenue from fitness recovery and shaping devices surged by 122.8% year-on-year, reaching 200 million yuan, increasing its revenue share to 23% [6]. R&D and Marketing Expenditure - R&D expenditure as a percentage of revenue decreased from 9.1% in 2022 to 6.6% in the first three quarters of 2025, while sales and marketing expenses increased from 18.2% to 22.6% during the same period [8]. Dividend Distribution - The company has a history of high dividend payouts, distributing 199 million yuan to shareholders in the first nine months of 2025, following previous distributions of 50 million yuan and 30 million yuan in 2022 and 2023 respectively [11].
【看新股】未来健康转战港股IPO：智能舒缓穿戴设备龙头 上市前高额分红
Xin Lang Cai Jing·2025-12-25 00:00