IPO News | Health 160 has an average of 3.3 million monthly active users through the Hong Kong Stock Exchange Hearing Platform

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on September 4, Health 160 International Limited (hereinafter: Health 160) passed the Hong Kong Stock Exchange main board listing hearing, and Shen Wan Hongyuan Hong Kong and Clean Technology Capital were its co-sponsors.

According to the prospectus, Health 160 is an experienced Chinese wholesaler of medical and health products and a leading integrated digital medical service provider. The company provides customers with a variety of medical and health products, as well as comprehensive digital healthcare solutions. Under the wholesale and retail model, we provide a series of high-quality medical and health products to meet the different needs of customers. In addition, the company also provides digital healthcare solutions through the Health 160 platform, an online healthcare service platform, which empowers all platform participants in the entire healthcare industry chain (mainly including enterprise customers, medical and health care institutions, healthcare workers, individual users, and third party merchants) to promote the digital transformation of China's healthcare industry.

When providing digital healthcare solutions, the company has developed the Health 160 platform, which effectively connects healthcare institutions, healthcare personnel and individual users by integrating online and offline channels for healthcare services. The platform provides a variety of medical and health services, including serious medical and consumer medical services. The company uses effective monetization strategies for digital healthcare solutions to generate revenue from various platform participants, thus constituting an important source of revenue for the company. According to Frost & Sullivan's data, based on the number of registered hospitals registered through the platform in 2024; the number of partner hospitals as of December 31, 2024; the number of level-III hospitals cooperated as of December 31, 2024; and the number of healthcare workers connected to the platform as of December 31, 2024, the company is the largest digital healthcare service platform in China's digital healthcare integrated service industry in 2024.

As of March 31, 2025, the company's platform has connected more than 44,600 healthcare institutions since its inception, including more than 14,400 hospitals (including 3,430 tertiary hospitals) and more than 30,200 primary healthcare institutions. As of the same date, more than 6,800 private institutions among the company's cooperating healthcare institutions mainly provided consumer medical services, such as dental, ophthalmology and physical examination services, on the company's platform.

As of the same date, the company has established cooperative relationships with more than 902,300 healthcare workers since its inception, including around 46,200 registered doctors. At the same time, the company's platform has a huge user base. As of March 31, 2025, there were 55.2 million registered individual users. Furthermore, for the three months ended March 31, 2025, the company's platform recorded an average of 3.3 million monthly active users.

Furthermore, the accumulation of more than 5.6 million user reviews also highlights the active participation and active interaction of users on the company's platform. Multi-faceted exchanges and interactions reflect the robustness of the company's platform's healthcare service network.

On the financial side, for the three months ended March 31 in 2022, 2023, 2024 and 2025, the company's revenue was approximately $526 million, 629 million yuan, 621 million yuan, and 100 million yuan respectively; during the same period, the year/period losses were approximately 120 million yuan, 106 million yuan, 108 million yuan, and 171.28 million yuan.