新股消息 | 锦欣康养递表港交所 专注于向高龄长者及有更迫切养老需求的老年人提供医养结合服务

Company Overview - Jinxin Kangyang Industrial Group Limited has submitted a listing application to the Hong Kong Stock Exchange, with CICC and GF Securities as joint sponsors. The company is a leader in China's rapidly growing institutional elderly care service market, focusing on providing integrated medical and elderly care services to seniors aged 80 and above and those with urgent care needs [1][3]. - As of September 30, 2025, Jinxin Kangyang ranks first among all major players in China's institutional elderly care service industry, with an 85% market share in both the proportion of elderly residents with mobility impairments and the occupancy rate of integrated medical and elderly care facilities [3]. Services Offered - The company provides a comprehensive range of elderly care services, including housing, professional nursing and care services, nutritional management, social and cultural entertainment services, medical services, rehabilitation and assistance services, and on-demand services. Its medical services are delivered through a network of elderly care facilities, geriatric hospitals, psychiatric hospitals, traditional Chinese medicine hospitals, and general hospitals [4]. Financial Performance - For the nine months ending September 30 in 2023, 2024, and 2025, the company reported revenues of approximately RMB 489 million, RMB 605 million, and RMB 547 million, respectively. The net profits for the same periods were RMB 27.06 million, RMB 40.31 million, and RMB 26.11 million [5]. - The gross profit margins for the same periods were 21.7%, 23.3%, and 22.5%, respectively [7]. Industry Overview - The development of China's elderly care industry is driven by significant demographic changes, with the population aged 65 and above growing at a compound annual growth rate (CAGR) of 3.9% from 2020 to 2024, and the population aged 80 and above growing at a CAGR of 5.1%. By 2024, the population aged 80 and above is expected to reach 43.7 million, increasing to 79 million by 2035 [8][13]. - The market size of China's elderly care industry is projected to grow from RMB 7.4 trillion in 2020 to RMB 14.1 trillion in 2024, with a CAGR of 17.5%. By 2030, it is expected to reach RMB 31.7 trillion, and by 2035, RMB 46.6 trillion, with a CAGR of 8.0% [13].