Core Viewpoint - Health 160 (02656) has seen a significant increase in stock price, rising over 256% from its IPO price of HKD 11.89 to a peak of HKD 42.34, indicating strong market interest and confidence in the company's business model and growth potential [1] Company Overview - Health 160 is an experienced wholesale distributor of pharmaceutical and health products in China, as well as a leading provider of integrated digital healthcare services [1] - The company offers a wide range of pharmaceutical health products and comprehensive digital healthcare solutions [1] Digital Healthcare Platform - Health 160 operates an online healthcare service platform that connects various stakeholders in the healthcare industry, enhancing the overall healthcare ecosystem [1] - As of March 31, 2025, the platform has connected over 44,600 healthcare institutions, including more than 14,400 hospitals (of which 3,430 are tertiary hospitals) and over 30,200 grassroots healthcare institutions [1] - Among the partnered healthcare institutions, over 6,800 private entities provide consumer medical services such as dental, ophthalmology, and health check-up services through the platform [1]

Core Viewpoint - Health 160 (02656) has seen a significant stock price increase, rising over 256% from its IPO price of 11.89 HKD to a peak of 42.34 HKD, indicating strong market interest and confidence in the company's business model and growth potential [1] Company Overview - Health 160 is an experienced Chinese pharmaceutical and health products wholesaler and a leading provider of digital healthcare integrated services [1] - The company offers a wide range of pharmaceutical health products and comprehensive digital healthcare solutions [1] Digital Healthcare Platform - Health 160 operates an online healthcare service platform that provides digital healthcare solutions, empowering various participants in the healthcare industry [1] - As of March 31, 2025, the platform has connected over 44,600 healthcare institutions, including more than 14,400 hospitals (of which 3,430 are tertiary hospitals) and over 30,200 grassroots healthcare institutions [1] - Among the partnered healthcare institutions, over 6,800 private entities primarily offer consumer medical services such as dental, ophthalmology, and health check-up services through the platform [1]

Core Viewpoint - Health 160 (02656) has seen a significant increase in stock price, rising over 230% from its IPO price of 11.89 HKD to a peak of 39.5 HKD, indicating strong market interest and performance [1] Company Overview - Health 160 is an experienced wholesaler of pharmaceutical and health products in China, as well as a leading provider of integrated digital healthcare services [1] - The company offers a wide range of pharmaceutical health products and comprehensive digital healthcare solutions [1] - Health 160 operates an online healthcare service platform, connecting various stakeholders in the healthcare industry [1] Platform Connectivity - As of March 31, 2025, Health 160's platform has connected over 44,600 healthcare institutions since its inception [1]

招股书显示，健康160是富有经验的中国医药健康用品批发商及领先的数字医疗综合服务提供商。公司 为客户提供各种医药健康用品，以及全面的数字医疗健康解决方案。此外，该公司亦通过在线医疗健康 服务平台-健康160平台提供数字医疗健康解决方案，赋能整个医疗健康产业链上的各平台参与方。截至 2025年3月31日，健康160的平台自成立以来已累计连接超过44,600家医疗健康机构。 智通财经APP获悉，健康160(02656)再涨超10%，高见39.5港元，较招股价11.89港元已涨超230%。截至 发稿，涨9.52%，报39.1港元，成交额2099.57万港元。 ...

据悉，健康160是富有经验的中国医药健康用品批发商及领先的数字医疗综合服务提供商。公司为客户 提供各种医药健康用品，以及全面的数字医疗健康解决方案。此外，该公司亦通过在线医疗健康服务平 台-健康160平台提供数字医疗健康解决方案，赋能整个医疗健康产业链上的各平台参与方。截至2025年 3月31日，健康160的平台自成立以来已累计连接超过44,600家医疗健康机构，其中包括超过14,400家医 院(包括3,430家三级医院)及超过30,200家基层医疗卫生机构。 健康160(02656)尾盘涨超10%，高见35港元创上市新高，较招股价11.89港元已涨近两倍。截至发稿，涨 10.16%，报34.92港元，成交额3579.08万港元。 ...

Core Viewpoint - The article highlights the significant market interest in digital healthcare platforms, exemplified by the successful IPO of Health 160, which saw a stock price increase of 137.34% on its first day, reflecting a market reevaluation of digital healthcare models [1] Company Profile - Health 160 has evolved from a simple appointment booking app to a comprehensive O2O platform that connects patients, healthcare institutions, and doctors, integrating SaaS solutions for hospitals [3][5] - The platform connects over 14,400 hospitals, 9,060 private medical institutions, and 29,000 grassroots medical facilities across China, facilitating various healthcare services [3] - Health 160's approach emphasizes deep hospital connections, a long service chain, and sustainable doctor management, distinguishing it from purely content-driven health platforms [5] Business Performance - Health 160's revenue has shown steady growth, with figures of approximately 526 million yuan in 2022, 629 million yuan in 2023, and 621 million yuan projected for 2024, alongside a first-quarter revenue of about 100 million yuan in 2025 [7] - Despite revenue growth, the company has faced consistent net losses of around 100 million yuan annually, although losses narrowed to approximately 17 million yuan in the first quarter of 2025 [7] - The primary revenue sources are pharmaceutical sales and digital healthcare solutions, with the latter having a gross margin exceeding 70%, making it the main profit driver [7] Industry Landscape and Regulation - The Chinese internet healthcare policy encourages compliant online services while emphasizing quality and payment security, aiming to enhance the efficiency of the healthcare system rather than replace traditional services [8] - The DRG/DIP reform is pushing hospitals towards cost control through improved process efficiency, aligning with Health 160's SaaS and operational services that support hospitals in this transition [8] Competitive Landscape - Health 160 differentiates itself from major competitors like Alibaba Health and JD Health by focusing on hospital connections and digitizing the patient journey, rather than primarily relying on drug retail and e-commerce [10][11] - The platform's strategy is to create a vertical service model that emphasizes deep integration with hospitals and doctors, which is crucial for building barriers to entry in the market [11][12] Future Outlook - The ability to deepen connections with hospitals and enhance service quality will be critical for Health 160's long-term success, as the competition shifts from user acquisition to the quality of connections and supply [13][15]

Group 1 - Health 160 International Limited successfully listed on the Hong Kong Stock Exchange, raising approximately HKD 400 million by issuing 33.6455 million new shares [1][3] - The IPO was highly successful, with the public offering portion being oversubscribed by 751.77 times, and the final offer price set at HKD 11.89 per share [3] - On its first trading day, Health 160 opened at HKD 29.98, representing a 152.14% increase from the offer price, resulting in a potential profit of HKD 4,522.50 for a single board lot of 250 shares [3] Group 2 - Health 160 operates as a wholesale distributor of pharmaceutical health products and a leading provider of digital healthcare services, offering a comprehensive online health service platform [4] - The company employs a hybrid model of wholesale and retail to supply various health products to both corporate clients and individual users, while also providing digital healthcare solutions [4] Group 3 - Eddid Financial, the underwriter for Health 160's IPO, has extensive experience in assisting companies from various regions, including Singapore, Hong Kong, and mainland China, in their listing processes [3][5] - Eddid Financial is a comprehensive financial group based in Hong Kong, focusing on integrating fintech into its services, covering areas such as investment banking, asset management, and digital assets [5]

Group 1 - The core viewpoint of the article highlights the successful listing of Health 160 (02656) on the stock market, with a significant initial price increase of 152.14% from the offering price of HKD 11.89 to HKD 29.98 [1] - Health 160 issued a total of 33.6455 million shares, with net proceeds amounting to approximately HKD 316 million [1] - The company is recognized as an experienced wholesaler of pharmaceutical health products and a leading provider of integrated digital healthcare services in China [1] Group 2 - Health 160's platform has connected over 44,600 healthcare institutions since its establishment, including more than 14,400 hospitals, of which 3,430 are tertiary hospitals [1] - The company collaborates with over 6,800 private healthcare institutions that primarily offer consumer medical services such as dental, ophthalmology, and health check-up services [1] - The digital healthcare solutions provided by Health 160 empower various participants across the healthcare industry chain through its online medical health service platform [1]

Group 1 - The core viewpoint of the article highlights the successful listing of Health 160 (02656) with a share price of HKD 11.89, raising approximately HKD 316 million from the issuance of 33.6455 million shares [1] - As of the report, the stock price surged by 152.14%, reaching HKD 29.98, with a trading volume of HKD 101 million [1] - Health 160 is described as an experienced wholesaler of pharmaceutical health products and a leading provider of digital healthcare services in China [1] Group 2 - The company offers a wide range of pharmaceutical health products and comprehensive digital healthcare solutions [1] - Health 160 operates an online healthcare service platform that connects various stakeholders in the healthcare industry [1] - As of March 31, 2025, the platform has connected over 44,600 healthcare institutions, including more than 14,400 hospitals and over 30,200 grassroots healthcare institutions [1] Group 3 - Among the partnered healthcare institutions, over 6,800 private entities provide consumer medical services such as dental, ophthalmology, and health check-up services through the platform [1]

Group 1 - Several new stocks have recently been listed on the Hong Kong stock market, including Jiaxin International Resources, Shuangdeng Co., Yinnuo Pharmaceutical-B, and Zhonghui Biotechnology-B, which performed well on their debut [2] - On September 17, a new stock named Health 160 was listed, opening over 150% higher and reaching a peak increase of 174%, before settling at a gain of 146.43% at the time of reporting [3] - Health 160's public offering was highly subscribed, with a subscription rate of 751.77 times, resulting in 3.36475 million shares being allocated for public sale, which is about 10% of the total shares offered [4][5] Group 2 - Health 160 is a leading wholesaler of medical health products and a digital healthcare service provider, offering a range of medical health products and comprehensive digital healthcare solutions [4] - As of March 31, 2025, Health 160 has connected over 44,600 healthcare institutions, including more than 14,400 hospitals, and has registered 55.2 million personal users on its platform [6] - The company's revenue for the years 2022 to 2024 was 526 million, 629 million, and 621 million RMB respectively, with losses of 120 million, 106 million, and 108 million RMB during the same periods [6]