New Stock News | Wan Yi Medical Submits Application to Hong Kong Stock Exchange, Committed to Building a Platform for Physician Academic Development

According to the disclosure on January 1st by the Hong Kong Stock Exchange, Shanghai Wan Yi Medical Technology Co., Ltd. (referred to as Wan Yi Medical) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with EB SECURITIES International as its exclusive sponsor. Company Profile The prospectus shows that Wan Yi Medical is a leading AI-driven solutions provider in China, dedicated to empowering the talent development of physicians. According to Frost & Sullivan data, based on comparable revenue by 2024, the company ranks first in China's comprehensive AI solutions market for medical academic, educational, and research. Through the company's products and services, Wan Yi Medical has gradually developed an ecosystem connecting physicians and various institutional healthcare participants to accelerate the dissemination of medical knowledge, promote physician education, and facilitate the translation of research results into practical applications. In the historical period, Wan Yi Medical mainly provided two types of revenue-generating solutions driven by AI through the company's intelligent productivity tools: (i) a full-process solution for medical academic events delivered through the company's MedEvent platform, aimed at facilitating workflow coordination and academic exchanges among physicians; and (ii) digital solutions for medical learning and education, featuring interactive learning kits developed and delivered through the company's MedAssistant system, customized according to physicians' professions, interests, and developmental goals. In addition, Wan Yi Medical has launched MedEvidence, a suite of intelligent tools including the Smart Body AI Evidence Assistant, to support end-to-end physician-led research processes, enrich the functionality of the company's products, strengthen interactions with physicians, and enhance their loyalty to the company's ecosystem. Wan Yi Medical's products collectively meet the key needs of physicians at various stages of their professional development. Financial Information Revenue For the fiscal years 2023, 2024, and the nine months ended September 30, 2025, the company achieved revenues of approximately RMB 239 million, RMB 271 million, and RMB 191 million, respectively. Profit for the year/period For the fiscal years 2023, 2024, and the nine months ended September 30, 2025, the company recorded profits for the year/period of approximately RMB 29.868 million, RMB 29.719 million, and RMB 36.884 million, respectively. Gross profit margin For the fiscal years 2023, 2024, and the nine months ended September 30, 2025, the company recorded gross profit margins of 37.9%, 35.7%, and 42.3%, respectively. Industry Overview The market for medical academic, educational, and research solutions focuses on the core needs of physicians in academic advancement, research progress, and information acquisition. In this industry ecosystem, medical societies/associations, healthcare institutions, pharmaceutical and medical device companies are the main participants, connecting cross-institutional business processes through the adoption and use of third-party solutions, and leveraging real-world and online scenarios to meet the core needs of physicians. From 2019 to 2024, the market for medical academic, educational, and research solutions in China increased from RMB 66.8 billion to RMB 97.6 billion, with a compound annual growth rate of 7.9% during the period. By 2030, the market size is expected to increase to RMB 179.5 billion, with a compound annual growth rate of 10.7% from 2024 to 2030. From 2019 to 2024, the market for comprehensive AI solutions in medical academic, educational, and research in China increased from RMB 900 million to RMB 5.7 billion, with a compound annual growth rate of 45.2% during the period. By 2030, the market size for comprehensive AI solutions in medical academic, educational, and research in China is expected to increase to RMB 33.9 billion, with a compound annual growth rate of 34.8% from 2024 to 2030. Board of Directors Information The company's board of directors consists of eight directors, including five executive directors and three independent non-executive directors. The directors of the company serve a term of three years and may be re-elected for additional terms. The board of directors is responsible for the management and operation of the company's business and possesses relevant general powers. Equity Structure Ms. Ju, through her direct interests in the company and the voting powers attached to the shares held by her employee incentive platform Shanghai Juyu Management Consulting Partnership (Limited Partnership) and Shanghai Juling Management Consulting Partnership (Limited Partnership), has been a general partner since the establishment of these platforms, holding 69.65% and 56.51% of the partnership interests, respectively. Therefore, Ms. Ju, Shanghai Juyu, and Shanghai Juling collectively form a group of controlling shareholders. Intermediary Team Exclusive Sponsor: China Everbright Financing Limited. Company Legal Advisor: Regarding Hong Kong and US Law: Wilson Sonsini Goodrich & Rosati; Regarding Chinese Law: Tianyuan Law Firm. Legal Advisor for the Exclusive Sponsor: Regarding Hong Kong Law: Jingtian & Gongcheng Law Firm; Regarding Chinese Law: Jingtian & Gongcheng Law Firm. Auditor and Reporting Accountant: Ernst & Young. Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch. Compliance Advisor: China Everbright Financing Limited.