New Stock News | Meixin Health Submits Application to Hong Kong Stock Exchange, with a compound annual revenue growth rate of approximately 38% in the past three years.

On June 30th, Shanghai MiHealth Technology Group Co., Ltd. (hereinafter referred to as "MiHealth" or the "Company") officially submitted its prospectus to the Hong Kong Stock Exchange, intending to go public in Hong Kong. Goldman Sachs (Asia), CICC, and HSBC are acting as joint sponsors. Public information shows that MiHealth was established in 2017 and is the largest pharmaceutical multi-channel payment platform in China. The company is committed to addressing the financing and payment challenges faced by patients, insurers, and pharmaceutical companies, and helping to drive the transformation of China's medical payment system. Using AI technology, MiHealth has restructured the medical payment ecosystem and successfully achieved collaboration and mutual benefits among all parties in the medical system. The company is a leader in both innovative drug and medical equipment payment solutions and commercial health insurance services. The company has built two industry solutions around the collaborative needs of patients, insurers, and pharmaceutical companies: the Smart Drugs solution primarily provides commercialization services covering the entire product lifecycle for pharmaceutical companies, helping innovative drugs enter multiple payment channels and improve patient management efficiency; the Smart Insurance solution provides insurers with end-to-end support throughout the entire product lifecycle, covering actuarial design, pricing consulting, marketing distribution, claims processing, and health management. With AI capabilities and high-quality medical resources, MiHealth is driving innovation and operational improvement in health insurance. Additionally, the company has launched a one-stop service platform called "One Code Straight Payment" for users, integrating resources such as pharmaceuticals, medical services, and insurance to provide users with more payment options, enabling direct medical payment and ultimately providing patients and their families with more comprehensive, higher-quality, and more accessible medical products and services. According to Frost & Sullivan data, based on the total platform payment volume (GPV) in 2024, MiHealth is the largest provider of innovative drug and medical equipment solutions in China, and based on the number of policies served, the company is the largest provider of innovative health insurance solutions. As of December 31, 2024, the company has served approximately 393 million policies and has cooperated with over 140 pharmaceutical companies (including 90% of the top 20 pharmaceutical companies globally by 2024 revenue) and over 90 insurers (including 100% of the top 20 insurers in China by 2024 premium income). In 2024, the company helped approximately 40% of listed innovative class 1 drugs in China to be launched. Through the two main solutions mentioned above, the company has saved patients approximately 6.7 billion RMB in out-of-pocket expenses. These business operating data confirm MiHealth's leading position in the industry as the preferred partner for pharmaceutical companies and insurers. Financial data shows that in 2024, MiHealth achieved operating income of 2.035 billion RMB, with a compound annual growth rate of approximately 38% from 2022 to 2024, demonstrating the sustainable growth potential of its innovative business model. In terms of the industry, Frost & Sullivan reports predict that the size of the Chinese innovative drug and medical equipment market is expected to increase from 162 billion RMB in 2024 to 410.2 billion RMB in 2030, with a compound annual growth rate of 16.7%; during the same period, the size of the Chinese commercial health insurance market will expand from 977.3 billion RMB to 2.36 trillion RMB, with a compound annual growth rate of 15.8%. This structural growth is not only due to the policy support of the "Healthy China 2030" national strategy for a multi-level medical security system but also meets the urgent need of the public for accessible high-quality medical services. MiHealth is in the field of pharmaceutical multi-channel payment platforms and is using AI innovation to effectively address issues such as "expensive medical treatment and difficult access to medicine", The company's business layout is in line with industry trends, policy directions, and social demands, forming a high degree of resonance.