New Stock Announcement | Taimei Medical Technology (02576) will start offering shares today, with plans to globally issue 22.4166 million H shares.

Too Beauty Medical Technology Limited (02576) will be listed from September 27, 2024 to October 3, 2024, with a global offering of 22.4166 million H shares. The offering includes 2.2418 million shares for public sale in Hong Kong, 20.1748 million shares for international offering, as well as 3.3624 million shares for over-allotment option and 15% additional share allocation. The offering price per share is HK$10-13, with a minimum subscription of 200 shares. It is expected that the H shares will start trading on the Stock Exchange of Hong Kong at 9:00 am on October 8, 2024 (Tuesday). Assuming that the over-allotment option and additional share allocation rights are not exercised, and based on a subscription price of HK$11.5 per share, the net proceeds from the global offering are estimated to be approximately HK$1.857 billion. Around 35% of the proceeds will be used to optimize and upgrade the TrialOS platform and PharmaOS platform, and their respective cloud software and digital services; approximately 30% will be allocated to enhance core technology and research and development capabilities; about 10% will be used to strengthen sales and marketing capabilities; around 15% will be used for selective strategic investments and acquisitions that the Company believes will expand existing product and service categories, broaden customer base, and improve technological capabilities; and approximately 10% will be allocated for working capital and general corporate purposes. As a digital solutions provider focused on the pharmaceutical and medical device industries in China, the Company designs and provides industry-specific software and digital services to support research, development, and marketing in the pharmaceutical and medical device sectors. During the historical period, the Company generated 42.3%, 38.4%, 35.2%, and 34.3% of its revenue from cloud software sales in 2021, 2022, 2023, and the three months ended March 31, 2024, respectively, with 57.6%, 61.6%, 64.5%, and 65.7% of revenue coming from digital services during the same period. For the years 2021-2023, the Company achieved revenues of approximately RMB 466 million, RMB 549 million, and RMB 573 million, with net losses attributable to owners of approximately RMB 480 million, RMB 413 million, and RMB 347 million, respectively. In the first quarter of 2024, the Company recorded revenues of approximately RMB 132 million, with a net loss attributable to owners of approximately RMB 116 million.