According to Health News Consultation, industry insiders revealed that Yuanxin Technology, which has already conducted a listing hearing on the Hong Kong Stock Exchange, has postponed its listing plan and is waiting for a window in the secondary market.

Yuanxin Technology, which operates the pharmaceutical e-commerce platform Miaoshou Doctor, conducted a listing hearing on the Hong Kong Stock Exchange on February 9, 2024. At that time, IFR reported that Yuanxin Technology had pre-marketed its Hong Kong IPO with a fundraising scale of about 0.1 billion US dollars. Citic Sec and Goldman Sachs are joint sponsors.

Reports stated that Yuanxin Technology not only did not complete the roadshow, prospectus issuance, and public offering processes but also attracted industry attention due to events such as the cancellation of its subsidiary Yuanxin Miaoshou.

Currently, the prospectus of Yuanxin Technology has become invalid, making it one of only two companies in 2024 that passed the listing hearing on the Hong Kong Stock Exchange but did not go public. The other company, Brain Dynamics, just passed the listing hearing on the Hong Kong Stock Exchange at the end of last month.

Yuanxin Technology submitted documents to the Hong Kong Stock Exchange on five separate occasions: October 15, 2021; April 19, 2022; October 21, 2022; May 29, 2023; and December 18, 2023.

Yuanxin Technology prospectus link after the listing hearing:

https://www1.hkexnews.hk/app/sehk/2023/106044/documents/sehk24020900875_c.pdf

Preliminary prospectus data shows that Yuanxin Technology, established in 2015, as a leading medical health company, focuses on providing services dedicated to the patient medical service cycle. According to Frost & Sullivan data, based on the 2022 revenue, Yuanxin Technology is China's largest offline and online medical delivery platform specializing in prescription drugs. Its comprehensive online medical service and pharmacy platform, Miaoshou Doctor, is one of China's first internet hospitals to obtain a medical practice license.