New Stock News | Zhuozheng Medical Hong Kong IPO Prospectus Invalid, Mainly Engaged in Private High-end Integrated Medical Services

Zhaozheng Medical Holdings Limited (referred to as "Zhaozheng Medical") submitted its Hong Kong IPO prospectus on May 16, 2024, which expired after 6 months on November 16, with Haitong Int'l and Pu Yin International as joint sponsors. According to the prospectus, Zhaozheng Medical is a leading private high-end comprehensive healthcare service provider in China. According to Frost & Sullivan data, as of December 31, 2023, the company ranked first among all private high-end comprehensive healthcare service provider groups in terms of the number of cities covered in China. In addition, according to Frost & Sullivan data, in terms of the number of outpatient visits and revenue from fee-paying patients in 2023, the company ranked second and third, respectively, among all private high-end comprehensive healthcare service provider groups in China. The company has always focused strategically on the high-end healthcare service market, targeting affluent populations with strong purchasing power and a preference for more personalized and humane medical services. According to Frost & Sullivan data, the total revenue of the high-end private healthcare service market in China increased from RMB 178.2 billion in 2019 to RMB 361.5 billion in 2023, with a compound annual growth rate of 19.3%. It is expected to continue growing at a compound annual growth rate of 14.8% from 2023 to 2028, reaching RMB 722.1 billion by 2028.