Core Viewpoint - Lianchi Hospital Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with China Galaxy International as the joint sponsor, aiming to expand its specialized medical services in China [3]. Company Overview - Lianchi Hospital is a Chinese boutique specialized medical group that emphasizes a patient-centered approach and operates five hospitals and one elderly care facility by September 30, 2025 [4]. - The company focuses on the "One Elderly, One Child" high-potential sector, aligning with the national "Healthy China" strategy [4]. - Lianchi Hospital has established a well-defined hospital network, including Zibo Lianchi Hospital, Qingdao Lianchi Maternal and Child Hospital, Hefei Xinhai Maternal and Child Hospital, Zibo Lianchi Orthopedic Hospital, and Chongqing Great Wall Orthopedic Hospital [4][5]. Competitive Position - Each hospital within the Lianchi Hospital Group holds a unique competitive advantage and enjoys a prominent market position in their respective regions [5]. - Zibo Lianchi Hospital is recognized as a second-level hospital and has been awarded various local health education and service quality recognitions [5]. - Qingdao Lianchi Maternal and Child Hospital is the first private hospital in Qingdao to receive international JCI certification [6]. - Chongqing Great Wall Orthopedic Hospital is recognized as a leading private orthopedic hospital in Southwest China based on revenue [7]. Financial Performance - The company has shown significant revenue growth, with revenue increasing from RMB 356 million in 2023 to RMB 418 million in 2024, representing a 17.4% growth [10]. - For the nine months ending September 30, 2025, revenue further increased by 20.3% to RMB 359 million compared to the same period in 2024 [10]. - The gross profit margin improved from 32.9% in 2023 to 36.1% in 2024, with a slight decrease to 35.6% for the nine months ending September 30, 2025 [10]. - Net profit rose from RMB 56.7 million in 2023 to RMB 67.6 million in 2024, marking a 19.2% increase [11]. Market Demand - The aging population in Shandong and Chongqing provinces is driving the demand for orthopedic services [11]. - The private orthopedic hospital market in Southwest China is highly fragmented and competitive [11]. IPO Fund Utilization - The funds raised from the IPO are intended for upgrading and expanding existing hospital service capabilities, consolidating the company's position in the specialized field [11]. - The company plans to use the funds for mergers, acquisitions, or investments to deepen its "One Elderly, One Child" strategic layout [11]. - Additional allocations will be made for establishing a group research center and introducing advanced medical technologies and smart medical systems [11].

Core Viewpoint - Lianchi Hospital Group has submitted an application for listing on the Hong Kong Stock Exchange, aiming to expand its specialized medical services in response to China's healthcare strategy focusing on elderly and pediatric care [3][9]. Company Overview - Lianchi Hospital is a specialized medical group in China, operating five hospitals and one elderly care facility by September 30, 2025, with a focus on high-potential sectors of elderly and pediatric care [3][4]. - The company emphasizes a patient-centered approach and has developed a well-known medical brand, "Lianchi Medical," recognized for its unique service models [3][4]. Hospital Network - The hospital network includes: - Zibo Lianchi Hospital, a secondary hospital recognized for health education and quality service [4]. - Qingdao Lianchi Maternal and Child Hospital, the first private hospital in Qingdao to receive international JCI certification [4]. - Hefei Xinhai Maternal and Child Hospital, part of the Anhui Children's Hospital network [5]. - Zibo Lianchi Orthopedic Hospital, a national academic headquarters specializing in complex orthopedic surgeries [5]. - Chongqing Great Wall Orthopedic Hospital, recognized as a leading private orthopedic hospital in Southwest China [5][8]. Financial Performance - The company's revenue grew from 356 million RMB in 2023 to 418 million RMB in 2024, marking a 17.4% increase, and further increased by 20.3% to 359 million RMB in the first nine months of 2025 [8]. - Gross profit margin improved from 32.9% in 2023 to 36.1% in 2024, with a margin of 35.6% in the first nine months of 2025 [8]. - Net profit rose from 56.7 million RMB in 2023 to 67.6 million RMB in 2024, with a further increase to 55.5 million RMB in the first nine months of 2025 [9]. Market Position - Zibo Lianchi Orthopedic Hospital ranks first in Shandong Province and third nationally in private knee surgery volume as of 2024 [8][9]. - Chongqing Great Wall Orthopedic Hospital is the top private orthopedic hospital in Southwest China based on revenue [8][9]. IPO Fund Utilization - The funds raised from the IPO will be used for upgrading and expanding existing hospital services, business expansion through mergers and acquisitions, establishing a research center, and improving operational efficiency [9].