New Stock News | Zhuzheng Medical Passed the Hearing of the Hong Kong Stock Exchange, Focusing on Serving the Middle to High-end Medical Service Market.

According to the disclosure by the Hong Kong Stock Exchange on December 16, ZHUOZHENG Medical Holdings Limited (ZHUOZHENG Medical) conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with HAITONG INT'L and Pu Yin International acting as joint sponsors. According to the prospectus, ZHUOZHENG Medical has always strategically focused on serving the high-end medical service market, targeting affluent individuals who typically have strong purchasing power and prefer more personalized medical services. According to data from Frost & Sullivan, based on revenue in 2024, ZHUOZHENG Medical is the third largest private high-end medical service institution in China, with a market share of 2.0%. High-end medical services refer to comprehensive customized services that emphasize patient experience and service quality, and can be further divided into public high-end medical services and private high-end medical services. Affluent individuals refer to a population group with an average annual disposable income exceeding RMB 200,000. In 2024, private high-end medical service institutions accounted for approximately 66.5% of the total revenue in the Chinese high-end medical service market and approximately 5.6% of the total revenue in the Chinese medical service industry. Furthermore, according to data from Frost & Sullivan, the total revenue of the Chinese private high-end medical service market increased from RMB 193 billion in 2020 to RMB 426.3 billion in 2024, with a compound annual growth rate of 21.9%. It is estimated that from 2024 to 2029, the market will continue to grow at a compound annual growth rate of 14.3%, reaching RMB 831.4 billion by 2029. According to Frost & Sullivan, based on revenue in 2024, the company's market share in the broader high-end medical service market is approximately 0.1%. With a centralized, standardized, and digitized management system, ZHUOZHENG Medical has established a network covering some of China's most developed cities, including Shenzhen, Guangzhou, Beijing, Chengdu, Suzhou, Changsha, Shanghai, Chongqing, Hangzhou, and Wuhan. As of October 28, 2025, the company owns and operates 19 medical service institutions across China, including 17 clinics and two hospitals. Additionally, as of October 28, 2025, the company operates four general clinics in Singapore and one general clinic in Malaysia. Guided by a holistic approach to healthcare, ZHUOZHENG Medical adopts a family medicine model, integrating physical and online medical services. With a range of specialties including pediatrics, dentistry, ophthalmology, dermatology, otolaryngology and surgery, gynecology, internal medicine, and close collaboration between specialist doctors, the company is able to meet the diverse medical needs of patients and their families, continuously improving patient satisfaction and offering opportunities for interdepartmental referrals. ZHUOZHENG Medical is committed to attracting, retaining, and developing a qualified and experienced team of doctors through a structured talent development framework. As of August 31, 2025, the company has 387 full-time doctors, with an average of about 15 years of practice experience after obtaining their medical qualifications, with approximately 79% of doctors having practiced in top-tier tertiary hospitals before joining the company. Financially, from 2022 to 2024, ZHUOZHENG Medical achieved revenues of RMB 473 million, RMB 690 million, and RMB 959 million, respectively, showing an increasing trend each year. For the eight months ending on August 31, 2025, the company's revenue was RMB 696 million. In 2022 and 2023, ZHUOZHENG Medical recorded net losses of RMB 222 million and RMB 353 million, respectively. However, the company reported a net profit of approximately RMB 80.227 million in 2024 and RMB 83.211 million for the eight months ending on August 31, 2025.