IPO First Day | “Digital Healthcare Solutions Provider” Jiankang160 Opens Over 150% Higher on Debut, Earning HKD 4,522.5 per Lot

Futu News reported on September 17 that $160 HEALTH (02656.HK)$ the stock opened higher on its first day, surging 152.14%. As of the time of writing, it was trading at HKD 29.98 per share. Each lot consists of 250 shares, and without considering handling fees, investors would make a profit of HKD 4,522.5 per lot.

Source: Futu Securities

According to previously disclosed information, Health 160’s grey market closed up 143.06% at HKD 28.9. Each lot consists of 250 shares, and without considering handling fees, investors would earn HKD 4,252.5 per lot.

During the public offering phase, Health 160 received subscriptions totaling 751.77 times the available shares, with the final number of shares allocated for public offering amounting to 3.3648 million, representing approximately 10% of the total shares offered. A total of approximately 69,600 valid applications were received, including around 8,847 processed applications. The percentage allocation rate of applied shares for one lot was approximately 8%.

In addition, during the international placement phase, Health 160 received 1.92 times the subscription. The final number of shares allocated in the international offering amounted to 30.2808 million, equivalent to 90% of the total shares offered. Futu News has compiled relevant data as shown in the table below:

Company Overview

Health 160 is an experienced wholesaler of pharmaceutical and healthcare products in China and a leading provider of integrated digital healthcare services. The company offers customers a wide range of pharmaceutical and healthcare products as well as comprehensive digital healthcare solutions. Operating under both wholesale and retail models, the company provides high-quality pharmaceutical and healthcare products to meet diverse customer needs. Additionally, through its online healthcare platform—Health 160—it delivers digital healthcare solutions, empowering various participants across the entire healthcare industry value chain (primarily corporate clients, medical institutions, healthcare professionals, individual users, and third-party merchants), thereby driving the digital transformation of China’s healthcare industry.

Health 160 supplies pharmaceutical and healthcare products to corporate clients (including regional pharmaceutical trading companies, healthcare institutions, and other pharmaceutical sales platforms) via a wholesale model and to individual users via a retail model. Leveraging its robust supply chain resources and strong order fulfillment capabilities, the company identifies stable and high-quality suppliers to meet specific client demands, ensuring efficient product delivery, which generates substantial product sales revenue.

Financial Overview

During the performance record period, Health 160 generated revenue through the sale of pharmaceutical and healthcare products and the provision of digital healthcare solutions. The company’s revenue increased by 19.6% from RMB 526 million in 2022 to RMB 629 million in 2023, remaining relatively stable in 2023 and 2024 at RMB 629 million and RMB 621 million, respectively. During the same period, the company’s R&D expenses were RMB 54.057 million, RMB 41.697 million, and RMB 50.513 million, accounting for 10.3%, 6.6%, and 8.1% of total revenue in the corresponding periods, respectively.

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Editor/Afina