On April 3, Rui Finance Wang Min, according to Hong Kong Stock Exchange documents, BenQ Hospital Group Co., Ltd. (hereinafter referred to as “BenQ Hospital”) submitted a prospectus to the Hong Kong Stock Exchange to be listed on the Hong Kong Main Board. CICC and Citibank are its sponsors.

According to the prospectus, BenQ Hospital focuses on providing continuous high-quality medical services to patients through multidisciplinary private for-profit general hospitals. During the track record period, its revenue mainly came from the provision of comprehensive medical services, including inpatient and outpatient medical services.

In terms of performance, in 2021, 2022, and 2023, BenQ Hospital achieved operating revenue of approximately RMB 2,224 billion, RMB 2,336 million, and RMB 2,688 billion respectively; in the same period, BenQ Hospitals' annual profits were approximately RMB 69.075 million, RMB 89.55 million, and RMB 167 million, respectively.

As of the last practical date, Jiashida Technology Co., Ltd. directly and indirectly owned 232,736,837 shares through its wholly-owned subsidiaries (i.e. Dali II Investment, Dali Investment, BenQ Dentsu Co., Ltd., and Darly Venture (L)), accounting for approximately 95.02% of the company's shares.

According to data, Jiashida Technology Co., Ltd. (2352.TW), the controlling shareholder of BenQ Hospitals, is a global technology group spanning the information technology industry, medical services, intelligent solutions and network communication businesses. Its brand effect and layout in the global medical and technology industry will continue to bring opportunities for business collaboration to BenQ Hospital.

According to the prospectus, BenQ Hospitals' board of directors consists of seven directors, including one executive director, three non-executive directors, and three independent non-executive directors.

The chairman and non-executive director of BenQ Hospital is Chen Qihong, who is also the chairman and CEO of Jiashida Technology Co., Ltd., providing strategic guidance for the hospital's business development and promoting collaborative development with the Jiashida Group.

Chen Qihong joined Jiashida Technology Co., Ltd. in 1991. He served successively as Director of Display Products Division, Display Product Division Manager, Display Products Division Associate, Deputy General Manager of Display Products Division; and General Manager of Jiashida Technology Co., Ltd. from 2014 to 2023; he was appointed Chairman and CEO of Jiashida Technology Co., Ltd. in 2022.

Meanwhile, Chen Qihong has been a director of Dafang Electronics Co., Ltd. since March 2001, the chairman of BenQ Mitutoyo Medical Equipment Co., Ltd. since April 2010, a director of Partner Technology Co., Ltd. since October 2014, a director of BenQ Materials Co., Ltd. since July 1998, the chairman of Youtong Information Co., Ltd. since December 2017, a director of Mingtai Technology Co., Ltd. since June 2018, and a director of Zhongqi Technology Co., Ltd. since February 2020.

Chen Qihong obtained a bachelor's degree in engineering from Chenggong University in Taiwan in June 1985 and a master's degree in international management business administration from the Thunderbird School of Global Management in Phoenix, Arizona in December 2001. Since October 2023, he has been a member of the Industrial Technology Research Institute.

BenQ Hospital's executive director and executive director is Xiao Zerong. He graduated from Tamkang University in Taiwan, China with a bachelor's degree in engineering in June 1983. Joined Youda Optoelectronics Co., Ltd. in July 2000; joined Jiashida Technology Co., Ltd. in August 2007. He was the deputy manager and general manager of the manufacturing department of Jiashida Technology Co., Ltd., and has more than 35 years of enterprise management experience. CEO Siu oversees the operation of BenQ Hospitals' two hospitals.

Currently, BenQ Hospital owns and operates two general hospitals, Nanjing BenQ Hospital and Suzhou BenQ Hospital, both of which are designated medical insurance hospitals. In addition, the group also invested in Guangxi Guigang Donghui Hospital.

Nanjing BenQ Hospital began operation in 2008 and became the first private hospital in Nanjing, Jiangsu Province to receive the top three ratings in 2022; Suzhou BenQ Hospital began operation in 2013 and is a level-3 general hospital.

According to Frost & Sullivan's data, in terms of revenue generated from medical services in 2022, BenQ Hospital is the largest private commercial general hospital group in East China, with revenue exceeding the second and third places; in terms of the same caliber, BenQ Hospital ranked fifth in the national private for-profit general hospital group, and is the only group in the top five that has a tertiary hospital; in terms of average revenue per registered bed in 2022, BenQ Hospital ranked first among all private commercial general hospital groups in mainland China.

As of December 31, 2023, BenQ Hospital's two hospitals have a total operating area of about 380,000 square meters, a total of 1,850 registered beds, and a team of over 900 doctors, including 35 experts from Taiwan and overseas. In 2023, BenQ Hospital received more than 2 million outpatient visits and more than 20,000 inpatient surgeries per year. BenQ Hospital built two general hospitals, Nanjing BenQ Hospital and Suzhou BenQ Hospital.

According to Frost & Sullivan's data, the market size (in terms of revenue) of private hospitals in China is expected to increase from RMB 319.1 billion in 2017 to RMB 607.4 billion in 2022, with a compound annual growth rate of 13.7% from 2017 to 2022; it is expected that by 2026, the market size of private hospitals will reach RMB 1094.3 billion, with a compound annual growth rate of 15.9% from 2022 to 2026.