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].