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Yunkang Group Limited Successfully Listed on the Main Board of HKEX
First Day Closed at HK$8.50, HK$0.61 Higher Than the Offer Price
Representing an Increase of Approximately 7.73%
HONG KONG, May 18, 2022 - (ACN Newswire) - A medical operation services provider in China - Yunkang Group Limited ("Yunkang Group" or the "Company", stock code: 2325.HK, together with its subsidiaries, collectively as the "Group"), has successfully listed and commenced dealings on the Main Board of the Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange") today, under the stock code of 2325 and in board lot of 500 shares each.
The share price of the Company closed at HK$8.50 per share, with an intra-day high of HK$8.50 per share. A total of approximately 31.2 million shares were traded, with an aggregate turnover of approximately HK$237.8 million.
Yunkang Group is listed on the main board of HKEX, with 138,188,000 shares being offered globally, including 13,819,000 Hong Kong Offer Shares, 124,369,000 International Placing Shares. The total proceeds received are estimated at approximately HK$1,090.3 million from the Global Offering, after deduction of underwriting fees, commissions and other estimated expenses payable by the Company in connection with the Global Offering. The net proceeds are intended for expanding and deepening our medical institution alliance network over the next four years, upgrading and enhancing the operational capabilities of a medical operation service provider, expanding diagnostic capabilities and enriching the diagnostic testing portfolio with a focus on developing capabilities in key technologies, potential investment and acquisition opportunities, recruiting and training up the talent pool, with a focus on management and technical personnel, and working capital and general corporate purposes.
As a platform of medical operation services in China, Yunkang Group's diagnostic tests cover major medical specialties of pathology, infectious diseases and genetic diseases with a growing menu of over 2,000 tests, which covered over 70% of major diagnostic testing categories in the medical operation service market in 2020, according to Frost & Sullivan. The Company has developed a deep and broad network of over 270 on-site diagnostic centers covered and conducted an aggregate of over 50 million diagnostic tests in 2021 through ICLs and on-site diagnostic centers.
By helping hospitals establish international quality standards in diagnostic testing, Yunkang Group empowers hospitals with high caliber standardized testing capabilities. Yunkang Group has also obtained accreditation from the American Society for Clinical Pathology, the leading organization for pathology globally. Besides, according to Frost & Sullivan, the Company's operations meet ISO quality standards with the largest number of ICLs in China that hold both ISO15189 and CAP certifications.
The Chairman, Executive Director and Chief Executive Officer of Yunkang Group Limited, Mr. Zhang Yong said, "Today, we are very delighted to witness Yunkang Group to be officially listed on the Hong Kong Stock Exchange. This is an important milestone in our history of development as well as a starting point of our new journey. We sincerely appreciate the long-term trust and cooperation from customers and shareholders. We would also like to thank our partners, the Hong Kong Stock Exchange and the Securities and Futures Commission for all the great support. With our diagnostic expertise and strong standardization capabilities, a broad and loyal customer base, and an experienced management team, we will seize the future trend of the whole industry, strengthen our position in the market with our competitive advantages and create greater value for shareholders and investors."
About Yunkang Group Limited
Yunkang Group is an expertise-driven medical operation service provider in China, which started to provide standardized diagnostic testing services to medical institutions at all levels as early as 2008. Leveraging its own professional diagnostic capabilities and the nationwide service network, the Company has gradually grown to become a medical operation services platform offering a full suite of diagnostic testing services to different kinds of medical institutions mainly through diagnostic outsourcing services and diagnostic testing services for medical institution alliances, with a growing menu of over 2,000 tests and over 50 million diagnostic tests performed in 2021. In terms of revenue in 2020, the Company had a market share of 3.7% in China's medical operation service market, according to Frost & Sullivan. Yunkang Group is also a major market player with a market share of 12.5% in China's diagnostic testing services for medical institution alliances market in terms of revenue in 2020. In this market, the Company provides modularized diagnostic testing services and technical supports to collaborative hospitals within the alliances, in ICLs and on-site diagnostic centers that it assisted in establishing and operating. So far, Yunkang Group has successfully provided professional services to over 3,600 customers nationwide, serving over 320 on-site diagnostic centers.
For more information on Yunkang Group, please visit the website http://en.yunkanghealth.com/
Sectors: Healthcare & Pharm
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