Core Viewpoint - The company, Easy Health Group, has initiated its IPO process, planning to list on the Hong Kong Stock Exchange on December 23, 2025, with a target to raise approximately HKD 600 million through the issuance of 26.54 million shares at a maximum price of HKD 22.68 per share [3][27]. Fundraising and Use of Proceeds - Easy Health aims to raise a net amount of HKD 513 million after deducting listing expenses [3][27]. - The funds will be utilized to enhance brand awareness, increase user engagement, strengthen partnerships, improve technological capabilities in AI and big data, support medical research, and expand into new regions and overseas markets [5][29]. Financial Performance - For the first half of 2025, Easy Health reported revenues of HKD 6.56 billion, a significant increase of 84.8% compared to HKD 3.55 billion in the same period last year [11][34]. - The company achieved a gross profit of HKD 2.13 billion, with a gross margin of 32.5%, down from 49.4% in the previous year [11][34]. - The projected revenues for 2022, 2023, and 2024 are HKD 3.94 billion, HKD 4.9 billion, and HKD 9.45 billion, respectively, with corresponding gross profits of HKD 3.25 billion, HKD 3.91 billion, and HKD 3.62 billion [8][32]. Business Model and Services - Easy Health operates as a technology-driven platform focused on providing comprehensive health services and health insurance solutions [30]. - The company has cultivated a highly engaged user base interested in its health solutions, indicating a strong market presence [32]. Shareholder Structure - Major shareholders include Sun Life Insurance Company with a 10.56% stake and IDG China Media Fund with a 12.89% stake, among others [20][24]. - The founder and CEO, Yang Yin, holds a significant portion of shares, controlling over 30% of the voting rights [17][21].

Group 1 - The company plans to globally offer 26.54 million shares, with 2.65 million shares available in Hong Kong and 23.89 million shares for international sale, along with an over-allotment option of 3.98 million shares [1] - The subscription period is set from December 15 to December 18, with a maximum offer price of HKD 22.68 per share and an entry fee of approximately HKD 4,581.75 for 200 shares [1] - The total expected fundraising amount is HKD 602 million, with a net amount of HKD 513 million, aimed at enhancing brand awareness, user engagement, and partnerships, as well as improving technology capabilities in AI and big data [1] Group 2 - The company has introduced cornerstone investors, including Guangdong Hengqin Guangdong-Macao Deep Cooperation Zone Aoqin Harmony Investment Partnership, which will subscribe to approximately 4.80 million shares at the offer price [1] - The company is expected to be listed on the main board by December 23, 2025, with China International Capital Corporation Hong Kong Securities Limited and China Merchants Securities (Hong Kong) Co., Limited acting as joint sponsors [1] - The company reported net profits of CNY 73.645 million, CNY 10.398 million, and CNY 86.045 million for the fiscal years 2023, 2024, and the first half of 2025, reflecting year-on-year changes of 3,673.27%, -85.88%, and 437.92% respectively [2]