Core Viewpoint - Keli Limited has submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation as the sole sponsor [1] Group 1: Company Overview - Keli Limited focuses on driving upgrades in the pharmaceutical supply chain through digital solutions, promoting innovation in the biomedicine and nutrition sectors [1] - The company's business includes pharmaceutical marketing, promotion, sales, and the research, production, and distribution of maternal and infant nutritional supplements [1] Group 2: Market Position - According to 2024 revenue estimates, Keli Limited ranks among the top ten in China's pharmaceutical marketing and promotion sales market, holding approximately 15.9% market share as the largest pediatric pharmaceutical marketing service provider [1] - The sales network of Keli Limited spans 31 provinces in mainland China, with over 1,500 distributors as of June 30, 2025, covering numerous clinics, pharmacies, and hospitals [1]

Group 1 - The core viewpoint of the article is that Koryo Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation (CICC) as the sole sponsor [1] - Koryo is a comprehensive healthcare solution provider originating from South Korea, primarily operating in China and expanding internationally [1] - According to Frost & Sullivan, Koryo ranks among the top ten in China's pharmaceutical marketing, promotion, and sales market, holding approximately 15.9% market share as the largest pediatric pharmaceutical marketing, promotion, and sales service provider in China [1] Group 2 - The main business lines of Koryo include pharmaceutical marketing, promotion, and sales, as well as the research, production, and distribution of maternal and infant nutritional supplements [1]

Core Viewpoint - Koryo Limited has submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation as its sole sponsor [1] Company Overview - Koryo Limited is a comprehensive healthcare solution provider originating from South Korea, primarily operating in China and expanding internationally. The company focuses on upgrading the pharmaceutical supply chain through digital solutions and promoting innovation in the biopharmaceutical and multifunctional nutrition sectors [4] - The company ranks among the top ten in China's pharmaceutical marketing, promotion, and sales market based on revenue for 2024, holding approximately 15.9% market share as the largest pediatric pharmaceutical marketing service provider in China [4] - Koryo's sales network covers all provincial capitals and cities in mainland China, with over 1,500 distributors reaching around 110,000 clinics, 310,000 pharmacies, and 3,600 hospitals, including 68 Class III hospitals [4] Product Lines - The company has developed a diversified and differentiated product portfolio, including research, production, and sales of maternal and infant nutritional supplements, primarily functional health supplements and infant formula [5] Financial Performance - Revenue for the fiscal years ending June 30 for 2022, 2023, 2024, and the first half of 2025 was recorded at $322 million, $350 million, $282 million, and $143 million respectively [6] - Profit for the same periods was $17.34 million, $24.77 million, $21.85 million, and $21.83 million respectively [7] - Gross profit margins for the fiscal years were 43.6%, 48.3%, 53.3%, and 56% [9] Industry Overview - The Chinese pharmaceutical industry is projected to grow from RMB 1,447.9 billion in 2020 to RMB 1,629.7 billion by 2024, with a compound annual growth rate (CAGR) of 4.0%, reaching RMB 1,985.4 billion by 2029 [11] - The pediatric pharmaceutical market is expected to grow at a CAGR of 5.0%, reaching RMB 123.2 billion by 2029 [14] - The pharmaceutical marketing, promotion, and sales industry in China is projected to reach RMB 139.0 billion by 2029, with a CAGR of 7.3% from 2024 [18] Shareholding Structure - As of December 10, 2025, the founder Mr. Lin holds 76.2% of the company's shares directly and an additional 23.8% indirectly through Coree Pohang [27] Board of Directors - The board consists of seven members, including four executive directors and three independent non-executive directors [25]

Company Overview - 科郦有限公司 is a comprehensive healthcare solution provider originating from South Korea, primarily operating in China and expanding internationally. The company focuses on upgrading the pharmaceutical supply chain through digital solutions and promoting innovation in the biopharmaceutical and multifunctional nutrition sectors [4]. - The company ranks among the top ten in China's pharmaceutical marketing, promotion, and sales market by revenue for 2024, and is the largest provider of pediatric pharmaceutical marketing and sales services in China, holding approximately 15.9% market share [4]. Business Operations - The company operates a sales network covering all 31 provinces in mainland China, including major cities and has over 1,500 distributors, reaching around 110,000 clinics, 310,000 pharmacies, and 3,600 hospitals, including 68 Class III hospitals [4]. - The main business lines include pharmaceutical marketing, promotion, and sales, as well as the research, production, and distribution of maternal and infant nutritional supplements [5]. Financial Performance - The company reported revenues of $322 million, $350 million, $282 million, and $143 million for the fiscal years ending December 31, 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [6]. - The profit figures for the same periods were $17.34 million, $24.77 million, $21.85 million, and $21.83 million [6]. Profitability Metrics - The gross profit margins for the company were 43.6%, 48.3%, 53.3%, and 56% for the fiscal years ending December 31, 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [8]. - The net profit margins were 5.4%, 7.1%, 7.7%, and 15.1% for the same periods [9]. Industry Overview - The Chinese pharmaceutical industry is projected to grow from RMB 1,447.9 billion in 2020 to RMB 1,629.7 billion by 2024, with a compound annual growth rate (CAGR) of 4.0%, reaching RMB 1,985.4 billion by 2029 [10]. - The pediatric pharmaceutical market is expected to grow at a CAGR of 5.0%, reaching RMB 123.2 billion by 2029 [13]. - The pharmaceutical marketing, promotion, and sales industry in China is projected to reach RMB 139 billion by 2029, with a CAGR of 7.3% from 2024 [17]. Market Trends - The pediatric pharmaceutical marketing and sales sector is expected to grow from RMB 6.4 billion in 2020 to RMB 9.6 billion by 2024, with a CAGR of 10.7%, and is projected to reach RMB 14.8 billion by 2029 [20]. - The probiotics supplement market in China is anticipated to grow from RMB 17.2 billion in 2020 to RMB 24.6 billion by 2024, with a CAGR of 9.4%, and is expected to reach RMB 40 billion by 2029 [22].

Core Viewpoint - Koryo Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC as its sole sponsor, aiming to expand its presence in the healthcare solutions market [1] Group 1: Company Overview - Koryo is a comprehensive healthcare solutions provider originating from South Korea, primarily operating in China while also expanding internationally [1] - The company ranks among the top ten in China's pharmaceutical marketing, promotion, and sales market based on projected revenues for 2024 [1] - Koryo is the largest provider of pediatric pharmaceutical marketing, promotion, and sales services in China, holding approximately 15.9% market share based on 2024 revenue estimates [1] Group 2: Business Focus - The company is committed to upgrading the pharmaceutical supply chain through digital solutions and fostering innovation in the fields of biomedicine and multifunctional nutrition [1] - Koryo's main business lines include pharmaceutical marketing, promotion, and sales, as well as the research, production, and distribution of maternal and infant nutritional supplements [1]