Hong Kong stocks or another hair transplant medical company, Damai hair transplantation submits a prospectus to provide the first medical group in the industry to provide microneedal hair transplantation

On June 30, Capital State learned that Damai Hair Transplant Medical submitted a prospectus to the Hong Kong Stock Exchange on June 29, intending to be listed on the motherboard. CITIC Investment International was an exclusive sponsors.

According to the Burning Consultation Report, barley hair transplantation medical treatment is China's leading medical group in the mid -to -high -end hair diagnosis and treatment service industry, and it is also the first medical group in the industry to provide microneed hair transplantation. According to income, the company is the largest medical group in China's first -tier cities to provide hair diagnosis and treatment services. The market share in 2021 is 5.2%.

China's hair diagnosis and treatment service industry is a large -scale and rapid market, which can be classified as medical diagnosis, hair transplant services and nourishing service markets. According to the Burning Consultation Report, the market size of the industry increased from 8.3 billion yuan in 2016 (the same below) to 23.8 billion yuan in 2021, with a compound annual growth rate of 23.5%, and it is expected that it will further reach 71.2 billion yuan in 2026 Since 2021, the annual growth rate is 24.5%. The company believes that the industry is still in the early stage of development and will continue to grow because more participants enter the market.

As of the end of the actual possible date, the company has operated 33 medical institutions and set up a maintenance center in each medical institution, with a service scope of 31 cities in China. As of the end of the actual feasible date, 4 other service agencies are under construction.

In 2021, the company's referral rate was 20.2%and the refund rate was 0.14%, which was better than the industry average. In addition, according to the burning consultation report, in 2019, 2020 and 2021, the company's repurchase rates were 44.8%, 41.3%, and 50.5%, respectively, much higher than the industry average.

In 2019, 2020 and 2021, the company's total revenue was 747 million yuan, 764 million yuan and 1.021 billion yuan, respectively.

It is worth noting that during the period, the company's R & D expenditure accounted for a small proportion of income, while sales and distribution spending accounted for the largest proportion. R & D expenses were RMB 6.458 million, 4.601 million yuan and 4.784 million yuan, respectively. Sales and distribution expenses reached 500 million yuan, 399 million yuan and 521 million yuan, respectively.

The prospectus shows that in 2019, the company's net loss was 15 million yuan, which was mainly due to sales and distribution expenses of 500 million yuan, accounting for 67%of the total revenue in 2019, which is the largest expenditure in 2019. In addition, the net profit in 2020 and 2021 was 69.6 million yuan and 66.1 million yuan, respectively.

In the prospectus, barley hair transplant medical treatment admits that the risk of fierce competition in the industry is admitted. As a national private hair transplantation agency, on December 13, 2021, Yonghe Medical took the lead in landing in Hong Kong stocks, becoming the "first share of hair transplantation". The company provides one -stop hair medical services, covering hair transplant medical, medical care, conventional maintenance and other supporting services.

From the perspective of gross profit margin, the gross profit margin of barley hair is slightly higher than the Yonghe medical treatment of the same period, but it has decreased year by year. From 2019 to 2021, the gross profit margin of barley hair transplantation medical treatment was 79.8%, 75.9%, and 70.9%, respectively. From 2018 to 2020, Yonghe Medical's gross profit margin was 75.1%, 72.6%, and 74.6%, respectively.

The company is expected to use the funds raised by the IPO as the expansion of the operating network and upgrade the service agency; for research and development, the development of different hair -related disease development treatment plans, and promote the innovation of products and services; Provide full -cycle hair health management through smart medical care; for strategic investment and acquisitions to expand the company's domestic and global services; it will be used as operating funds and general company purposes.

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