IPO News | BenQ Hospital, the largest private hospital in East China, passed the Hong Kong Stock Exchange hearing that the number of outpatient visits exceeded 2 million last year

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange disclosure on April 11, BenQ Hospital Group Co., Ltd. (hereinafter: BenQ Hospital) passed the Hong Kong Stock Exchange listing hearing, and Citibank were its co-sponsors.

According to the prospectus, BenQ Hospitals is a private for-profit general hospital group in mainland China. It currently owns and operates two private for-profit general hospitals. According to Frost & Sullivan's data, in terms of total revenue in 2023, the company is the largest private commercial general hospital group in East China, with a market share of 1.1% in East China; in terms of the same caliber, it ranked 7th among private commercial general hospital groups in China, with a market share of 0.4% in China; in terms of average bed revenue in 2023, the company ranked first among all private commercial general hospital groups in mainland China.

According to Frost & Sullivan's data, the number of private general hospitals increased from 12,572 in 2019 to 13,848 in 2023, with a compound annual growth rate of 2.4% from 2019 to 2023, and expected to increase to 15,302 in 2027, with a compound annual growth rate of 2.5% from 2023 to 2027, while the number of public general hospitals decreased from 7,391 in 2019 to 6,984 in 2023, and is expected to decrease to 6,615 in 2027.

Nanjing BenQ Hospital began operation in 2008 and has been rated a Class III hospital since 2022. It is the first private hospital in Nanjing City, Jiangsu Province to receive the top three ratings. According to Frost & Sullivan's data, in terms of total revenue in 2023, Nanjing BenQ Hospital is the third largest private for-profit general hospital in China (its market share in China is 0.2%) and the largest private for-profit general hospital in Jiangsu Province (its market share in Jiangsu Province is 2.0%).

As of December 31, 2024, BenQ Hospital's two hospitals had a total construction area of about 400,000 square meters, a total of 1,850 registered beds, and an experienced team of over 1,000 doctors, including 39 experts from Taiwan Province of China and overseas. In 2024, the number of outpatient visits exceeded 2 million, and the number of hospitalized surgeries exceeded 22,000 per year.

On the financial side, in 2022, 2023, and 2024, the company achieved operating revenue of approximately RMB 2,336 billion, RMB 2,688 billion and RMB 2,659 billion, respectively. In the same period, the company's annual profits were approximately RMB 89.55 million, RMB 167 million, and RMB 109 million respectively.