On June 7, Futu news reported that on the first day of trading, it opened 46.55% higher and closed at HKD 8.5, with a turnover of HKD 12.7659 million and a total market value of HKD 2.796 billion. In the previous dark pool trading of Futu, Yisou Technology opened high and rose 43.10%, with a reported price of HKD 8.3, a turnover of HKD 3.0747 million, and a total market value of HKD 2.73 billion. 500 shares per lot, no handling fees, each lot earned HKD 1250. According to previous public information, Yisou Technology received approximately 114.59 times oversubscription during the public offering stage. The final number of shares allocated for public offering was 1.95 million shares, accounting for approximately 13.17% of the total share offering (after adjusting and redistributing the offering size). There were 9239 valid applications received, 1830 of which were accepted. The percentage of H shares distributed per lot was approximately 10.02% of the total number of applications. Futu news compiled the relevant data as follows:$RIMAG GROUP (02522.HK)$On the first day of trading, it opened at the same price and rose by 0.13%, reaching HKD 15 at the time of publishing, with a turnover of HKD 87,393,300 and a total market value of HKD 5.345 billion.
Market source: Futu Securities.
According to previous reports, in the previous day's dark trading of Futu, YMYG opened low and fell by 0.53%, closing at HKD 14.90, with a turnover of HKD 15,151,300 and a total market value of HKD 5.309 billion; 500 shares per hand, without considering the transaction fee, each hand lost HKD 40.
In addition, according to previous public information, YMYG received 336.33 times oversubscription in the public offering stage, and the final number of shares allocated to the public offering is 8.908 million shares, accounting for approximately 50% of the total number of shares offered for sale (before any over-allotment rights are exercised). A total of 17,855 valid applications were received, 5,418 of which were processed, and the percentage of H-shares allocated per hand applied is approximately 3.01% of the total number of applications.
In addition, the final number of shares offered in the international placement was 8.908 million, which is equivalent to 50% of the total number of shares offered (before any over-allotment rights are exercised). Futu News has compiled the following data:
Company overview
Yiyi Yangguang is a leading medical imaging specialist medical group in China. 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 network nodes, number of equipment, number of registered imaging doctors registered with the company as their main workplace, daily examination volume, and patient payment fees. Based on the revenue generated by image center services in 2023, the company ranked second among all third-party medical imaging center operators in China. According to the same data source, Yiyi Yangguang is also the only medical imaging platform operator and manager in China that provides diversified image services and values for the entire medical imaging industry chain.
The company mainly generates revenue through the following medical imaging services and solutions: (i) Image center services. The company operates its own medical imaging center and provides a variety of image inspection and diagnosis services, or provides operational management services to partner medical imaging centers; (ii) Image solution services. In 2019, the company began to provide image solution services to customers. Its image solution mainly helps hospital and other medical institutions customers to select and purchase suitable image equipment that meet their development needs. In order to maximize the value of image equipment use, the company provides them with a series of supporting modular solutions; (iii) Yiyi cloud service. In order to support the development of image center service business, the company has also developed the Yiyi cloud platform to provide internal business development, information management and data-driven operation. In 2018, as its products and services continued to develop, the company commercialized Yiyi cloud service and provided related services to China's medical imaging industry under the Yiyi Yangguang brand.
Financial overview
In terms of financial status, Yiyi Yangguang's revenue in 2021, 2022, and 2023 was RMB 592 million, RMB 784 million, and RMB 929 million, respectively, with a compound annual growth rate of 25.26% from 2021 to 2023; the gross profit for the same period was RMB 175 million, RMB 237 million, and RMB 333 million, respectively, with a compound annual growth rate of 37.79% from 2021 to 2023. The company's annual losses for the same period were RMB -382 million and -15.058 million, respectively. In 2023, it turned losses into profits and realized a net profit of RMB 36.574 million for the year.
Intended Use of Funds
As for the use of funds, YMYG expects to net approximately HKD 183 million (calculated at the final issue price of HKD 14.98) from the global issue. According to the prospectus, the company currently plans to use 50% of the net proceeds for expanding its medical imaging center network; 20% will be used to seek strategic cooperation and M&A opportunities in the medical imaging field, and to seek strategic cooperation and investment opportunities in the medical imaging service industry chain; 20% will be used to expand its business to overseas countries and regions with relatively limited medical resources (such as Southeast Asia) and overseas countries and regions with higher per capita disposable income and huge growth potential in the medical imaging service sector (such as the Middle East); and 10% will be used as working capital and for general corporate purposes.
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Editor/irene