According to Frost Sullivan's report, it is the fifth largest private clinic in the Yangtze River Delta region in terms of income in 2015, and in terms of income, the number of hospital patients and inpatients in 2015. Nantong Ruici Hospital is the largest private profit-seeking integrated hospital in Nantong. As of June 30, 2016, Nantong Ruici Hospital has a total of 520 beds, 23 hospital departments and seven medical and technical departments, while its strong and professional medical department includes 246 doctors, 77 medical technicians and 365 doctors. Through the provision of medical services for about 14 years, Nantong Ruici Hospital has become a well-known and trustworthy private medical hospital in Jiangsu Province.

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L company / company

(1) the collection of services for leading private clients in the economically developed Yangtze River Delta region; (2) the company has a diversified medical service model to produce the same effect. (3) the company's "Ruici" brand is a well-known and trusted brand in the Yangtze River Delta region, and has won many awards, such as the "Eleventh five-year Plan China Health Management leading Brand" awarded by the China International Medical Exchange Fund in 2011; the China Health Promotion Fund was awarded as the "Health Management demonstration Base" in 2013, and it was awarded the "Top 100 Chinese growing small and medium-sized Enterprises in 2013". (4) to provide high-level medical services and first-class facilities to provide professional and health care services; (5) to provide rich and knowledgeable management staff and strong stocks to support them.

L Industry Overview

According to Frost Sullivan's report, the total revenue from China's financial crisis is expected to increase to 50874 billion yuan in 2019, with a combined annual growth rate of 13.9 percent from 2015 to 2019. Among the three types of institutions, hospitals account for the largest proportion of income.

The income of medical services in the Yangtze River Delta region reached 5005 billion yuan in 2014, with a complex annual growth rate of 15.8 percent from 2010 to 2014. In 2014, the regulatory models of medical services in Jiangshan, Zhejiang and Shanghai were 1983 billion yuan, 177.7 billion yuan and 1245 billion yuan, respectively. From 2010 to 2014, Jiangli Province has the fastest growth rate in the regional financial service market, with a compound annual growth rate of 17.6%, followed by Zhejiang Province, with a complex annual growth rate of 15.5% and Shanghai ranking third.

13.8%.

Hospitals in China can be divided into public and private hospitals according to all rights, or medical, specialized and traditional Chinese medicine hospitals according to their professional fields. Private hospitals can be further classified as profit-making and non-profit-making hospitals. In addition, hospitals are also ranked by rank. There are levels 1, 2 and 3, of which level 3 is the highest.

Each grade is divided into A, B and C, of which An is the highest level. The representatives of China's third-level hospitals have the largest institutional size and the highest medical skills. In other hospitals at the same level, public hospitals have occupied a leading position for a long time.

However, the number of private hospitals increased significantly at a complex annual growth rate of 44.1% from 2010 to 2014, and will further increase in the future.

Private hospitals are the fastest growing branch of hospitals in China. According to Frost Sullivan's report, the income of private hospitals is expected to reach 4513 billion yuan in 2019, with a complex annual growth rate of 23.0% from 2015 to 2019. By contrast, revenue from public hospitals is estimated to grow at a compound annual rate of 13.3% from 2015 to 2019. Although the market size of China's private hospitals is still relatively small, in view of its rapid growth, it is playing a more and more important role in China's health care market.

L profit ability and duty number

Based on the historical records of the past three years, the income of the collection has increased from 488.9 million in 2013 to 802.8 million in 2015, with a combined annual growth rate of 28.1%. The income of the collection market has decreased from 3.65 million in 2013 to 299 million in 2015. The overall increase in the per capita consumption of corporate and personal customers during the previous period was mainly due to the integration and restructuring of the company's service packages. However, the average income per person decreased from $519.7 for the six months ended June 30, 2015 to $511.5 for the six months ended June 30, 2016, as the market offered discounts to individual customers in the first half of the year to attract more customers.

L collection purpose

HK $830.2 million (at HK $2.69 per share) from this collection will be used for the following purposes: about 25.2% will be used for the establishment of a high-end specialist paediatrics hospital; about 15.8% will be used for the construction of six new sports centers; about 5.7% will be used for Jianchong Nantong Ruizhi Hospital; about 32.9% will be used for the establishment of multi-purpose facilities. About 10.5% will be used to repay part of the bank and other loans.

L valuation

According to the IPO range from HK$2.56 to HK$2.82, the historical price-to-earnings ratio of Ruitz Medical is 120.8 to 133.1 times and the price-to-market ratio is about 4.06 to 4.15 times. The price-to-earnings ratio and price-to-price ratio of 1515.HK, which serves in Beijing Medical Hospital, Hospital Management Service and supply Service, are 56.0x and 5.35x, respectively, while those of 1509.HK, which serves in domestic industry hospitals, are 24.8x and 2.14x, respectively. 2120.HK, the largest private psychiatric hospital in China, has a historical price-to-earnings ratio of 33.0 times and a price-to-market ratio of 2.59 times. Listed stocks were affected by the British referendum in June, and the financial market was uncertain, so the listing plan was postponed, and now it is making a comeback.

As a matter of fact, financial services shares have all performed well on the first day of trading in the past, mainly because the domestic two-child policy is worth looking forward to, but the concept now seems to be close to reconciliation. We do not expect the shares to increase satisfactorily on the first day of listing, coupled with the fact that the valuation is not cheap, and the investors are speculating on the shares.

L-factor

(1) if the company fails to obtain or renew the necessary licenses, licenses, approvals and licenses in a heavily regulated industry, the trading performance of the company may be significantly adversely affected; (2) the company may not be able to insure against all losses and losses inherent in the market; (3) the company may not be able to manage the company's rapid growth or effective implementation of marketing strategies. (4) the company's financial activities are subject to quarterly movies and the medium-term business performance of the collection may not be instructive to the company's annual performance; (5) the establishment of new institutions (including sports centers and specialist hospitals) and new market planning and the realization of the strong activities that may result from the market. (6) there may be huge costs and significant adverse effects on business expenses and medical expenses due to the inherent costs related to the company's obstetrical and obstetrical medical expenses and the legal disputes proposed by the company.