According to the Hong Kong Stock Exchange's disclosure on December 31, Beijing Tongrentang Medical and Health Industry Investment Group Co., Ltd. (hereinafter referred to as Tongrentang Medical and Health) has submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with China International Capital Corporation as its sole sponsor. The company had previously submitted an application to the Hong Kong Stock Exchange on June 28 this year.
According to the information obtained from the Zhitong Finance APP, as disclosed by the Hong Kong Stock Exchange on December 31, Beijing Tongrentang Medical and Health Industry Investment Group Co., Ltd. (hereinafter referred to as: Tongrentang Medical and Health) submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with China International Capital Corporation as its exclusive sponsor. The company had previously submitted an application to the Hong Kong Stock Exchange on June 28 this year.
According to the prospectus, Tongrentang Medical and Health is a leading Traditional Chinese Medicine group that constructs its own and managed medical institutions in three tiers: chain hospitals, grassroots chain medical institutions (including outpatient departments, clinics, and Community health institutions, all of which are independent medical institutions in China, holding various types of licenses or certificates for practice), and Internet Plus-Related hospitals.
Combining "medical" and "healthcare", Tongrentang Medical and Health provides modern, customized Traditional Chinese Medical services, utilizing standardized management to cover all scenarios. It leverages specialized advantages and employs a combination of Traditional Chinese Medicine and non-drug treatment methods to offer the most suitable solutions for clients. As of December 20, 2024, Tongrentang Medical and Health has established a hierarchical medical service network, including 11 owned offline medical institutions and one Internet Plus-Related hospital, as well as 11 offline managed medical institutions.
Through an integrated offline and online service network, Tongrentang Medical and Health reaches and serves clients across the country. According to data from Frost & Sullivan, based on total outpatient visits and inpatient visits in 2023, Tongrentang Medical and Health is the largest Traditional Chinese Medicine group in China's non-public hospital medical services industry, with a market share of 1.8%. Based on the same data source, in terms of total medical service revenue in 2023, the company ranks second in the non-public Traditional Chinese Medicine medical services industry with a 0.2% market share, and this market accounts for 41.9% of the total market scale of China's Traditional Chinese Medical services industry in the same year.
The total number of patient visits at medical institutions within the Tongrentang Medical and Health network increased from 1 million in 2021 to 18 million in 2023, with a compound annual growth rate of 30.7%. The total number of patient visits at medical institutions within the company's network rose by 69.8%, from 12 million visits in the nine months ending September 30, 2023, to 21 million visits in the nine months ending September 30, 2024.
In financial matters, the consolidated income statement and other comprehensive income report published by Beijing Tongrentang Medical Services shows that the company achieved revenues of approximately 0.69 billion, 0.911 billion, 1.153 billion, and 0.833 billion yuan in the fiscal years 2021, 2022, 2023, and the nine months ending September 30, 2024, respectively, with profits during this period being -8.151 million, -9.233 million, 42.634 million, and 26.592 million yuan, respectively.