New Stock News | Mass Oral Passes Hong Kong Stock Exchange Hearing, Accounting for Approximately 2.4% Market Share Among Private Oral Medical Service Providers in Central China Region.

According to the disclosure of Hong Kong Stock Exchange on June 24th, Wuhan Dazhong Oral Medical Co., Ltd. (hereinafter referred to as Dazhong Oral) passed the listing hearing on the main board of Hong Kong Stock Exchange, and HAITONG INT'L is its exclusive sponsor. According to the prospectus, Dazhong Oral is a private oral medical service provider focusing on Hubei Province and Hunan Province in central China. It operates a growing network of oral medical services in this flourishing market through a direct chain model. The company provides reliable and easily accessible oral care to the community, dedicated to serving the public. According to Frost & Sullivan data, based on income in 2024, the company ranks first among all private oral medical service providers in central China, with a market share of approximately 2.4%. Over the years, the company has strategically focused on meeting the needs of the public market, maintaining a strong presence in densely populated central China. Thanks to years of efforts to expand its oral medical service network, the number of operating oral medical institutions of the company increased from 77 as of January 1, 2022, to 86 as of December 31, 2024, and further increased to 92 as of June 21, 2025, including 4 for-profit oral hospitals, 80 for-profit oral clinics, and 8 for-profit oral clinics, located in 8 cities in Hubei and Hunan provinces. These three types of oral medical institutions are subject to different regulatory requirements and standards in terms of dental chairs, departments, medical professionals, and scale. In order to pursue a single brand strategy, all oral medical institutions of the company operate under the unified brand name "Love Dazhong Oral" along with the trademark, ensuring a cohesive and stable brand image for the oral medical service network in multiple regions. Most of the companys oral medical institutions are located in or near local communities, making it convenient for residents to access oral medical services. The company operates a partners plan, mainly targeting senior medical professionals, which not only effectively supports the expansion of oral medical service networks but also maintains the unity and stability of the core talent team and promotes talent team building, constituting a competitive advantage, making the oral medical service network an ideal platform for dentists to start a business. As of December 31, 2022, 2023, and 2024, 24, 32, and 37 dentists respectively became minority shareholders of the company's oral medical institutions under the partners plan. Adhering to the principles of direct chain operation and direct partnership, the partners plan enriches the company's medical professional resources, drives the expansion and profitability of the oral medical service network. In addition, the company's professional talent team is led by senior oral medical experts, providing high-level medical capabilities with the assistance of the technical committee, continuously providing quality oral medical services. The company values its dental resources and maintains a stable and extensive dental team. As of December 31, 2024, a total of 280 dentists practiced in the companys oral medical service network. As of the end of the financial years of 2022, 2023, and 2024, the retention rates of dentists who practiced in the company's oral medical service network for more than three years were approximately 87%, 89%, and 90% respectively. During the record period, there was no reliance on any specific dentist. During each financial year of the record period, the income from the top five dentists contributed approximately 8.0% to 10.0% of the company's total income. The company's oral medical services include comprehensive dental diagnosis and treatment services, oral implant services, and orthodontic services to meet the oral health needs of customers of all ages throughout the year. With community-centered oral medical care, the company has accumulated a loyal customer base during the record period. As of the financial years ending on December 31, 2022, 2023, and 2024, the company served 276,310, 296,859, and 283,640 customers, with the number of customer visits recorded being 708,651, 768,809, and 748,632 respectively. The average spending per customer visit was RMB 578, RMB 575, and RMB 544 respectively. Financially, in 2022, 2023, and 2024, the revenue of Dazhong Oral was approximately RMB 409 million, RMB 442 million, and RMB 407 million, respectively; and the annual profits were RMB 56.45 million, RMB 67.038 million, and RMB 62.50 million respectively.