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To-be Listed
Name
/
Code
Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date
Listing Date
Minieye Tec
02431.HK
Application Software 17-20.2 200 4,081 2024/12/20 2024/12/24 2024/12/27
Xunfei Healthcare
02506.HK
Application Software 82.8 50 N/A 2024/12/23 2024/12/27 2024/12/30
InnoScience
02577.HK
Semiconductors & Semiconductor Equipment 30.86-33.66 100 3,400 2024/12/23 2024/12/27 2024/12/30
HealthyWay
02587.HK
Health Care Services 7.8-8.8 500 4,444 2024/12/23 2024/12/27 2024/12/30
Summary
We are a leading ophthalmic medical service group in North China with a strong reputation nationwide. According to the Frost & Sullivan Report, we ranked first in Inner Mongolia, second in North China and fifth in China among private ophthalmic hospitals in terms of total revenue in 2020. China is a large and fast growing market for ophthalmic medical services. According to the Frost & Sullivan Report, the size of the ophthalmic medical services market in China increased from RMB73.0 billion in 2015 to RMB127.5 billion in 2019, representing a CAGR of 15.0%, and is expected to further grow to RMB223.1 billion in 2024; the size of the ophthalmic medical services market in North China increased from RMB13.2 billion in 2015 to RMB21.2 billion in 2019, representing a CAGR of 12.5%, and is expected to further grow to RMB33.7 billion in 2024; the size of the ophthalmic medical services market in Inner Mongolia increased from RMB1.1 billion in 2015 to RMB2.0 billion in 2019, representing a CAGR of 15.6%, and is expected to further grow to RMB3.3 billion in 2024. With an increasing population with high demands for ophthalmic medical services, it is expected that the ophthalmic medical services market in China has great potential for further growth. Leveraging our experience in ophthalmic services and market leading position, we believe we are well-positioned to capture the growing opportunities and benefit from the rapid expansion of the ophthalmic services market in the PRC.

We were founded in 1988 in Baotou, Inner Mongolia, where Mr. Zhang Chaoju, a pioneer of modern ophthalmology in Inner Mongolia and an entrepreneur in the field of ophthalmic services in China, founded the predecessor of our Company, a clinic providing ophthalmic services. The Zhang’s family is a medical family with a century’s heritage. Since our inception, we have adhered to the vision of “taking our century’s heritage to bring light to the world and inspire hope” (百年朝聚,朝向光明,聚集希望) and provided patients with safe, reassuring and affordable ophthalmic medical experience with professional and effective equipment and technology as well as caring and considerate services. With a deep root in North China, we have built a broad network of ophthalmic hospitals and optical centers spanning across five provinces or autonomous region in China, namely, Inner Mongolia, Zhejiang Province, Jiangsu Province, Shanxi Province and Hebei Province. As of the Latest Practicable Date, we operated a network of 17 ophthalmic hospitals and 23 optical centers. In addition, as of the Latest Practicable Date, we also operated two clinics as branches of our hospitals, and one of our optical centers also held a medical institution practicing certificate and was licensed to operate as a clinic providing certain out-patient services.

We generate revenue primarily from (i) consumer ophthalmic services and (ii) basic ophthalmic services. We classify our ophthalmic services primarily based on the type of disorders and diseases treated, type of treatments provided, eligibility for public health insurance program coverage and the generally accepted practice in the ophthalmic services industry. Our consumer ophthalmic services include treatments and prevention of various types of ophthalmic disorders, including refractive correction (including presbyopia correction), myopia control and provision of optical products and services, the costs for which are currently not covered by public health insurance programs. Our basic ophthalmic services include treatments of a wide range of common eye diseases, including cataract, glaucoma, squint, ocular fundus diseases, ocular surface diseases, orbital diseases and pediatric eye diseases, the cost of which are generally eligible to be covered by public health insurance programs.

There is no overlap in the scope of the services provided and the diseases and corresponding treatments covered by our basic ophthalmic services and consumer ophthalmic services. In light of upgraded social consumption in China over the recent years, we plan to increase our strategic focus on our consumer ophthalmic services business and devote more efforts to pursue a continued rapid growth, while maintaining the fundamental strength of our basic ophthalmic business.

We have a deep bench of ophthalmic experts with medical expertise and rich experience to treat a wide range of eye diseases and to provide various types of consumer ophthalmic services. We focus on the quality of our ophthalmic services and devote resources to allow our ophthalmologists to provide ophthalmic medical services in a professional, dedicated and responsible manner. We are also committed to recruiting and cultivating qualified professionals to form an ophthalmic medical team with outstanding professional and ethical standards and strong sense of responsibility. As of the Latest Practicable Date, our medical professional team consisted of 261 registered physicians (including 67 multi-site practice physicians who were not our full-time employees).

Advanced technology and equipment is another key factor underpinning our market leadership. Our patients are treated by ophthalmologists with latest technology and advanced equipment. According to the Frost & Sullivan Report, we are the first-mover in Inner Mongolia to use micropulse laser technology to treat macular edema, to use minimally invasive vitreoretinal surgeries to treat vitreous and ocular fundus diseases, and to use artificial vitreous body implantations to protect the eye from atrophy. We are a leader in Inner Mongolia to first introduce advanced medical equipment, such as OPTOS ultra-widefield fundus imaging system, vitreous cutter, optical coherence tomography for blood flow quantification, microfield detector and corneal confocal microscopy. We believe that our Baotou Hospital is the one-and-only ophthalmic hospital in Inner Mongolia with a preparation room to produce hospital-made traditional Chinese medicine capsules and eye drops. In particular, we are one of the few medical service providers in China that are qualified to produce 0.01% atropine sulfate eye drops to be prescribed within the respective hospitals to control myopia among adolescents. We believe that our capabilities in hospital-made pharmaceuticals have helped improve our brand awareness and customer loyalty, brought us competitive advantage in the area of myopia control and increased our overall revenue.

We experienced a rapid growth during the Track Record Period. Our revenue increased by 13.0% from RMB632.7 million in 2018 to RMB714.7 million in 2019, and further increased by 11.1% to RMB794.3 million in 2020. Our net profit also increased significantly from RMB29.2 million in 2018 to RMB70.8 million in 2019, and further increased by 70.2% to RMB120.5 million in 2020. In 2018, 2019 and 2020, our hospitals received 638,650 visits, 702,143 visits and 696,206 visits from our patients, and our optical centers received 73,935 visits, 79,903 visits and 91,660 visits from our customers, respectively.

Source: Chaoju Eye Care (02219) Prospectus (IPO Date : 2021/06/24)
Listing Market MAIN
Industry Health Care Services
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders Zhang Bozhou (14.05%)
Li Gabriel (12.01%)
Zhang Xiaoli (11.93%)
Zhang Junfeng (8.49%)
Zhang Wenwen & Associates (5.05%)
Directors Zhang Bozhou (Chairman and Chief Executive Officer and Executive Director)
Zhang Guangdi (Executive Director)
Zhang Junfeng (Executive Director)
Zhang Xiaoli (Executive Director)
Li Zhen (Non-Executive Director)
Richard Chen Mao (Non-Executive Director)
Zhang Li (Non-Executive Director)
Bao Shan (Independent Non-Executive Director)
Guo Hongyan (Independent Non-Executive Director)
He Mingguang (Independent Non-Executive Director)
Li Jianbin (Independent Non-Executive Director)
Company Secretary Cheng Ching Kit
Xie Chun
Principal Bankers
Solicitors Jingtian & Gongcheng LLP
Auditors Ernst & Young
Registered Office Level 20, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong
Share Registrars Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No (852) 2862-8628
Internet Address http://www.chaojueye.com
Email Address ir@chaojueye.com
Tel No (86 10) 6336-8995
Fax No
 
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