01419.HK will be subscribed from Thursday, March 17 to Monday, March 21, with a share price of1.32-1.51Hong Kong dollars at 2000 shares per handThe admission fee is3050.43Hong Kong dollars.
The company issued a total of 76.6 million shares, raising a net amount of about HK $1.01-116 million, of which 10 per cent was sold publicly in Hong Kong. BoCom International is the exclusive sponsor and is expected to go public on April 1. In addition, it is said that about 5.6% of the company's allotment, that is, 3.834 million shares will be reserved for doctors, dentists and other employees to give priority to subscription. The company will introduce Capital Medical International as a basic investor with a six-month lock-up period.
Calculated at the median price of 1.42 yuan, the net income from fund-raising is nearly 100 million yuan. Of these, about 46% will be spent on setting up six new specialist medical centres in Hong Kong, 7% on opening 6 new general practice centres in Hong Kong, and 15% on expanding the mainland market, of which, it is expected that three medical centers will be set up in Shanghai by the end of 2018; 10% will be spent on acquisitions; 6% will be used to upgrade information technology; 6% will be spent on brand building; the remaining 10% will be spent on working capital and general companies.
Company profile
PCG Medical Group is a private integrated medical services operator in Hong Kong with comprehensive out-patient capabilities covering general medical services, specialist medical services and dental services. According to the report, as at 31 August 2015, it ranked first among the private medical service operators in Hong Kong in terms of the number of medical centres. On March 8, 2016, our network of medical centres was operated under the following brands: (1) Pacific Century Integrated Medical Centre: 19 medical centres provide integrated medical services, covering general medical services, specialist medical services or dental services; (2) Pacific Century Medical Centre: 29 medical centres provide general medical services. (3) excellent medical care: eight medical centres mainly provide general medical services and a number of specialist medical services; (4) Jianhui specialist Centre: five medical centres provide specialist medical services; (5) Dental Dentistry: one medical centre provides dental services. In addition, the Group also operates four dental centres to provide dental services in the name of "Laser Integrated Dentistry" or dentists.
The Group has been providing medical services to the people of Hong Kong since 1997. On 8 March 2016, 66 medical centres were operated in 18 districts of Hong Kong, of which 12 were on Hong Kong Island, 22 in Kowloon and 32 in the New Territories (including Lantau Island).
In the medical centre, PCG has 115 service points providing medical services covering a wide range of subjects, including 57 general practice points, 45 specialist service points and 13 dental service points. Integrated medical services cover 11 areas, namely surgery, orthopaedics, ophthalmology, otolaryngology, paediatrics, obstetrics and gynaecology, gastroenterology and hepatology, respiratory, cardiology, pediatric surgery and dermatology, as well as general medical and dental services.
Customers include individual customers and corporate customers, including medical plan management companies, insurance companies and enterprises. In fiscal year 2015, the revenue generated by individual and corporate customers accounted for about 79.3% and 20.7% of the total revenue in that financial year. As at 30 September 2015, the number of patients was about 1.73 million and the number of patient visits in fiscal year 2015 was about 1.23 million.
financial status
The total income in fiscal year 2013, fiscal year 2014 and fiscal year 2015 and the three months ended 30 September 2015 was approximately HK $333.9 million, HK $365.2 million, HK $429.5 million and HK $110.8 million respectively, while our net profit for each ╱ period was approximately HK $36.6 million, HK $40.8 million, HK $35.7 million and HK $4.6 million respectively.
From fiscal year 2013 to fiscal year 2015, the company's revenue from general practice, specialist care and dental services grew at a compound annual rate of 10.3%, 26.3% and 18.1% over the same period last year. In fiscal year 2013, fiscal year 2014, fiscal year 2015 and the three months ended September 30, 2015, the gross profit margin of the company's specialist medical services increased by approximately 32.4%, 35.0%, 37.2% and 38.8%, respectively. According to the Euromonitor report, due to the aging population, increased consumer spending and the current contraction of public health infrastructure, the demand for more personalized and professional services provided by specialists is expected to be higher. Medical services are expected to grow at a compound annual rate of 13.8% from 2015 to 2019.
Industry condition
The medical service industry has maintained a steady growth trend in recent years. According to the Euromonitor report, the revenue generated by the Hong Kong general practice center increased to about HK $6,139.1 million from 2013 to 2014, representing a compound annual growth rate of about 4.2%, while from fiscal year 2012 to fiscal year 2015, the group's general practice center generated revenue that outperformed the market, with a compound annual growth rate of about 10.3%. According to the Euromonitor report, with the growth of Hong Kong's population, the demand for medical services and medical institutions in Hong Kong is expected to grow rapidly between 2015 and 2019, with the income generated by Hong Kong's private general practice centers growing at a compound annual rate of about 9.1% from 2015 to 2019.
advantage in competition
1. The largest number of medical service operators in Hong Kong. Most medical centres are located in densely populated areas of Hong Kong and are located in or near MTR stations, adjacent to public transport hubs, shopping malls or residential areas. Therefore, it is possible to increase market share by serving a large customer base and reaching a larger customer base.
2. Through natural growth and strategic acquisition, a network of 66 medical centers and 115 service points have been established (including 57 general medical service points, 45 specialist medical service points and 13 dental service points). This strategic expansion model enables it to design and provide medical services that meet the needs of the current market. After several years of expansion, the number of patients has increased from 1.18 million to 1.73 million (about 23.3% of Hong Kong's population), with a compound annual growth rate of about 19.7% from fiscal year 2013 to fiscal year 2015.
3. The synergy effect of comprehensive medical treatment improves the overall medical service of the company, and improves the business performance through the establishment of integrated medical center. The specialists of the professional team can not only serve the patients, but also bring synergy to the other members of the Group. In addition, patients can get better quality medical services through knowledge sharing, internal exchanges and quick access to medical records between general practitioners and specialists.
4. The company's leadership and management team is rich in experience, which is composed of founders, experienced professionals and doctors. Due toProfessional and effective management and the advantages of mature brands, professional team members have maintained a long-term relationship with the company.
Prospect and prospect
1. To further expand the specialist medical services division and establish a new specialist medical centre in Hong Kong to provide better quality medical equipment and a wider range of specialist medical services, so as to achieve business growth.
2. Further expand the network of general practice centres in Hong KongTo build the company's medical network into a full range of integrated medical services operators to provide the most comprehensive medical services for the people of Hong Kong.
3. Based on the successful experience of Chinese mainland replication Group's standardized operating platform, medical centers have been established in other first-tier cities in China.China's medical service industry has experienced rapid growth in the past six years. Total expenditure of China's private medical service industry from 2009 to 2013The compound annual growth rate is13.0%。
4、By working with safe and healthyOnline platform "Ping An Healthcare And Technology"Seize the market share of Shanghai. Ping An Healthcare And Technology online currently has more than 10 million users, and this platform can increase the visibility of the group and expand Chinese mainland's customer base.
reminder
(1) due to the need to process the subscription procedures, the deadline for subscription will be earlier than the deadline announced by the Exchange, and the deadline is 16:00 on that day.
(2) the subscription fee of HK $50.00 is required to be paid regardless of whether the lottery is successful or not. if the lottery is successful, there is also a fee of 1.0077%. Please refer toSubscription fee for new shares。
(3) if the new shares are successful, please refer to the daily statement on the day of the announcement of the results. if successful, the daily statement will show the new shares and the number of shares, otherwise, the funds will be returned.
(4) Please deposit sufficient funds on the subscription deadline, otherwise, Futu has the right to reject the subscription request without contacting the customer.
(5) if a subscription application has been submitted, please go toHistorical recordQuery the processing progress in the.
(6) Fortune does not support financing for the time being.
Probability of winning new lottery for Hong Kong stocks
The allocation criteria should be what everyone is most concerned about. Hong Kong new shares are generally divided into two parts: international placement and public offering. 90% of the shares will be allotted internationally, and the sponsors and underwriters are investment banks or securities dealers. They will allocate shares to more powerful funds, institutions or individual clients. Generally speaking, these customers must have an asset value of more than HK $30 million or a portfolio of 8 million in order to be eligible for placing. The other 10% is a public offering, which is subscribed by all investors. if the public offering is hot, it will be allocated back to the public offering in the international placement, for example, more than 100 times, 50% back to the public offering. Then the international placement and public offering will become 50% each, but it should be noted that the new shares on the gem are all new shares on the main board, and the new shares on the gem are 100% allotted and distributed, and there will be no public offering.
The winning rate of Hong Kong stocks is the biggest difference from the domestic market. Hong Kong's new stock market is allocated with a fair mechanism of "the more you subscribe, the more you get". To put it simply, if you subscribe for 1 million and I subscribe for 1 million, everyone will get the same number of shares. You don't have to draw a lottery like A shares, and Hong Kong stocks will first strive for at least one person to do it, and everyone will be given shares, and then the proportion will decrease. I hope the participants will not come back empty-handed.
There are ups and downs in the listing of new stocks in Hong Kong, without steady gains or losses.
A list of the performance of Hong Kong New shares after IPO
Http://finance.qq.com/hk/xg.htm
Note: this content does not constitute any investment advice. Investment comes with risks, and customers should measure the risks they can bear and make investment judgments independently.