Gelonghui, May 30, 丨 Yimai Sunshine (02522.HK) announced that the company plans to sell 178.16 million shares globally, 1.782 million shares in Hong Kong, China, and 16.34 million shares; the expected pricing date is June 5 from May 30 to June 4, 2024; the sale price will be HK$14.60-16.80 per share, with 500 shares per lot; CITIC Securities is the sole sponsor; it is expected that the shares will start trading on the main board of the Stock Exchange on June 7, 2024.

The company is a leading medical imaging specialist medical group in China. According to Frost & Sullivan, China's third-party medical imaging center market is still in a period of rapid development. Compared with developed countries, it started late, accounting for about 1.1% of China's medical imaging service market in 2023. According to Frost & Sullivan's data, in 2023, the company ranked first among all third-party medical imaging center operators in China based on the number of medical imaging center outlets, number of equipment, number of registered radiologists registered with the company as their main workplace, average daily examination volume, and fees paid by patients; in terms of revenue generated by imaging centers in 2023, the company ranked second among all third party medical imaging centers in China. The company mainly competes in the third-party medical imaging center market in China. This is a rapidly growing industry. The market size is growing at a compound annual growth rate of 29.0% from 2018 to 2023, and is expected to grow at a compound annual growth rate of 33.5% from 2023 to 2026, far exceeding the 12.9% and 14.3% growth rates of the Chinese medical imaging service market during the same period, respectively. According to the same source, the company is also the only medical imaging platform operator and manager in China that provides diversified imaging services and values for the entire medical imaging industry chain. The other four major players in the Chinese third-party medical imaging center market (in terms of fees paid by patients) do not simultaneously provide solutions and services similar to the company's imaging solution service and Yimai Cloud service.

The company has entered into a Cornerstone Investment Agreement, according to which Cornerstone investors have agreed (subject to certain conditions) to sell the relevant number of shares that can be purchased at a total subscription price of HK$121 million. Assuming an offering price of HK$15.70 per share (that is the median of the indicative offer price range set out in this prospectus), the total number of shares to be subscribed by Cornerstone Investors is 7.644,500 shares. Cornerstone investors include ZhuoTou Enterprise Management (Hong Kong) Limited (“ZhuoTou Management”, wholly owned by Jiangxi Ganjiang New Area Zhuotou Enterprise Management Co., Ltd. (“Ganjiang Zhuotou”); Lianying Medical Technology Hong Kong Limited (“Lianying Hong Kong”, wholly-owned by Lianying Healthcare (688271.SH)); and China Xinrui Pharmaceutical Holdings Limited (“China Xinrui”, a wholly-owned subsidiary of Xinrui Pharmaceutical (06108.HK)).

Assuming an offer price of HK$15.70 per share (the median of the indicative offer price range), the company estimates that the net proceeds from the global offering will be approximately HK$223.8 million. Approximately 50.0% of the net proceeds are intended to expand the company's medical imaging center network; approximately 20.0% of the net proceeds are intended to seek strategic cooperation and mergers and acquisitions in the medical imaging service industry chain; approximately 20.0% of the net proceeds are intended to expand the company's business to (i) overseas countries and regions with relatively poor medical resources (such as Southeast Asia) and (ii) overseas countries and regions with high per capita disposable income and huge potential for growth in medical imaging services (such as the Middle East); and proceeds Approximately 10.0% of the net amount is intended to be used as working capital and general corporate purposes.