The Healthy Group has officially submitted a listing application to the Hong Kong Stock Exchange, planning to be listed on the Main Board. China International Capital Corporation and China Merchants International serve as joint sponsors.
According to Zhitong Finance APP, on January 28, 2025, Easy Health Group officially submitted its listing application to the Hong Kong Stock Exchange, planning to list on the Main Board. China International Capital Corporation and China Merchants International act as joint sponsors. It is worth noting that the company has a strong lineup of shareholders, including well-known Institutions such as IDG, SUNSHINE INS, and Tencent, with IDG holding over 10% of the shares, making it one of the important Shareholders.
According to the prospectus, as a Technology-oriented one-stop platform, Easy Health Group focuses on providing comprehensive health services and Health Insurance solutions, aiming to facilitate the effective allocation of health services and related funding resources through technological tools.
According to the Sullivan report, based on the number of active users in 2023, Easy Health Group ranks second in the digital comprehensive health service and Health Insurance service market in China; in terms of revenue for the nine months ending September 30, 2024, Easy Health Group ranks fourth in the independent health service market in China.
The report also shows that the revenue of China's digital health services platform increased from 36.5 billion yuan in 2019 to 172.7 billion yuan in 2023, with a compound annual growth rate of 47.5%, and it is expected to reach 825.6 billion yuan by 2028, with a compound growth expectation of 36.7%.
Easy Health Group provides users with diversified and personalized health services through its comprehensive ecosystem, including early screening, health checks, Medical appointment services, and health product sales. Meanwhile, the company also offers convenient Health Insurance products to users through its Internet Plus-Related insurance platform - Easy Insurance. As of September 30, 2024, Easy Insurance has partnered with 36 insurance companies to provide a total of 252 insurance products.
The prospectus shows that, financially, Ease Health Group's revenue continues to grow rapidly. In 2022 and 2023, the company's revenue was approximately 0.394 billion yuan and 0.49 billion yuan, respectively. In the first three quarters of 2024, Ease Health Group's revenue was approximately 0.643 billion yuan (compared to approximately 0.31 billion yuan in the same period of 2023), exceeding the overall scale for the year 2023. For the nine months ending September 30, 2023, and 2024, Ease Health Group's adjusted Net income was 0.1492 billion yuan, 0.1466 billion yuan, 0.1328 billion yuan, and 76.6 million yuan, respectively, achieving profitability during the reporting period.
Before this listing, Ease Health Group secured several rounds of financing, with investors including SUNSHINE INS, IDG, DeTong Global (DeTong Capital), and Tencent. According to the prospectus, Ease Health Group raised approximately 0.126 billion USD in total from 2015 to 2021. Among them, SUNSHINE INS and IDG each held more than 10% shares.
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