GLONGHUI June 29丨In recent years, the issue of hair loss has attracted much attention, and topics related to it are frequently trending on the internet. Currently, more than 250 million people in our country are suffering from hair loss. The rate of hair loss before age 30 is as high as 84%, and demand potential for hair fixation and hair care is also gradually being stimulated. On June 29, Barley Hair Transplant Medical (Shenzhen) Group Co., Ltd. (hereinafter referred to as “Barley Hair Transplant” or company) officially submitted an A1 prospectus to the Hong Kong Stock Exchange seeking listing in Hong Kong. CITIC Construction Investment International is the exclusive sponsor.

Barley Hair Transplant is a leading medical group in the high-end hair diagnosis and treatment service industry in China. It is also the first medical group in the industry to provide microneedle hair transplantation. According to the insightful consultation report, the company is the first medical group in China to provide full-cycle hair diagnosis and treatment services integrating consultation and diagnosis, microneedle hair transplantation, hair fixation and hair care. In terms of revenue, the company is the largest medical group providing hair diagnosis and treatment services in first-tier cities in China, with a market share of 5.2% in 2021.

Facing the burgeoning hair transplant economy, Dr. Li Xingdong, founder of Barley Hair Transplant, introduced the world's leading microneedle hair transplant technology to China in 2006, enhancing his technical advantages. According to reports, the company's microneedle hair transplant pinhole diameter is only 0.6 to 1.0mm, which can be adjusted according to individual hair thickness to reduce wounds, relieve patients' pain, and speed up the recovery process after surgery. In addition, microneedle hair transplantation technology is more dense and artistic, and supports all-round implantation, which can achieve more natural post-operative results. The company also provides non-surgical hair fixation and hair care services, which greatly extends the range of hair transplant services and protects patients' long-term hair health care. While contributing “barley” to the scientific and technological progress of the industry, barley hair transplantation also invests most of its resources in R&D. Currently, the company has the right to use 13 patents in China.

After mastering industry-leading hair transplant technology, barley hair transplantation began to actively lay out a nationwide operation network to further strengthen its own competitive barriers. Currently, the company has established a nationwide network of medical institutions for hair transplants in China, operating 33 medical institutions, and 4 more service institutions under construction, serving 31 cities across the country. In addition, the company obtained a service license from the first Internet hospital for hair diagnosis and treatment in January 2022, which is expected to provide patients with convenient and affordable telemedicine services.

Relying on core hair transplant technology, while strengthening the service ecosystem, the professionalism of the medical team has become the cornerstone for the company to gain good brand trust. Currently, Barley Hair Transplant has 180 registered physicians and 690 other health care professionals, and all medical professionals have an average of more than 2 years of experience, which can support the diagnosis and treatment services of service agencies across the country. Thanks to this, the company achieved outstanding performance in terms of patient satisfaction. In 2021, the company's patient referral rate and refund rate were 20.2% and 0.14% respectively. From 2019 to 2021, the company's repurchase rates were 44.8%, 41.3%, and 50.5%, all superior to the industry average.

Faced with leading technology and full trust from patients, the company insisted, “The faster the market develops, the more we need to calm down, slow down, and return to the essence of medicine. The core of healthcare is technology and effectiveness. At the same time as development, we must not forget that the essence of medical treatment is healing. It is about improving consumer satisfaction through technological innovation. We must not forget the fundamentals; we need to be down-to-earth.”

The public's emphasis on hair health has contributed to the prosperity of the hair transplant market. Coupled with the continuous injection of capital, the hair transplant industry is becoming more imaginative. Barley hair transplantation, which has already been submitted to the Hong Kong Stock Exchange, has begun the IPO process. In the future, continuing to promote product and service innovation, expand the operation network, increase research and development efforts, strengthen talent training capabilities, and promote the digital transformation of medical services will be key strategic directions for barley growth, and development should not be underestimated.