Core Viewpoint - Sichuan Good Doctor Cloud Medical Technology Group Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with Haitong International and CITIC Securities as joint sponsors [1] Company Overview - Good Doctor Cloud Medical is a leading comprehensive grassroots medical empowerment platform in China, aiming to provide high-quality medical resources to grassroots markets, allowing local residents to access tertiary hospital-level medical services and products [5] - The company ranks second in China's grassroots medical empowerment service industry based on revenue as of 2024 [7] Market Position - As of June 30, 2025, Good Doctor Cloud Medical has directly served over 660,600 grassroots medical terminal customers, including over 389,300 grassroots medical institutions and 271,300 grassroots pharmacies [8] - The company is the only comprehensive empowerment platform in China's grassroots medical industry that utilizes digital intelligence and AI assistance, offering integrated solutions covering testing, diagnosis, medication, and treatment [7][8] Customer Growth - The number of registered grassroots medical terminal customers has grown at a compound annual growth rate (CAGR) of 29.0% from December 31, 2022, to December 31, 2024 [9] - The average monthly paying customer count increased from over 83,800 in 2022 to over 121,900 in 2024, reflecting a CAGR of 20.6% [9] Industry Insights - The grassroots medical industry in China is substantial, consisting of approximately 1.636 million grassroots medical terminals, including about 1.04 million grassroots medical institutions and 291,000 single pharmacies [9] - The market size of China's grassroots medical industry is projected to reach RMB 544.5 billion in 2024, with an expected CAGR of 9.2% from 2024 to 2030, reaching RMB 922 billion by the end of 2030 [9] Financial Performance - For the fiscal years ending June 30, 2023, 2024, and 2025, the company reported revenues of approximately RMB 3.065 billion, RMB 3.264 billion, and RMB 1.891 billion, respectively [10] - The profits for the same periods were RMB 62.48 million, RMB 37.81 million, and RMB 35.77 million, respectively [10]