Domestic private preventive medical service provider Ai Kang Ambassador

April 10 Morning News, the domestic private preventive health care provider, state-owned medical service providers in the Nasdaq listing yesterday evening, the opening of 16.50 U.S. dollars, 14 U.S. dollars in the issuance price rose 18%, the first day closed at 15.2 U.S. dollars, more than 14 U.S. dollar offer rose 8.57%.

According to the price of 15.6 dollars in the plate, the market value of the ambassador is 1 billion U.S. dollars, and the P/E ratio is nearly 35 times times. Market analysts believe that the high price/earnings ratio, which is still being used by the state as a model of heavy assets, suggests that the market is still expected to keep up with the good expectations of the country's health ambassador and Chinese concept stocks.

The good performance of the first day of the company's debut has greatly boosted confidence in the Chinese concept stocks, and most Chinese concept stocks have swept past two weeks of decline, resuming their gains for 2 consecutive trading days.

Ai Kang, the founder of Zhang Ligang after the listing of Sina Technology interview revealed that the listing of 70% of the financing will continue to invest in the health industry, into more cities, further improve hardware and software configuration, 15% of the financing will invest in the dental market, to upgrade dentistry; The remaining financing is put into it platform Integrate Internet thinking into service.

In Zhang Ligang's view, the AI Kang Ambassador has the opportunity to become a platform company, it and the health industry combined. "5 years from now, the ambassador will no longer be a traditional medical management company, but can combine the latest achievements in the medical field with it, and eventually bring these new achievements into people's lives." ”

Listing information

The first prospectus was submitted March 4 this year. Ai Kang State the issue price for each United States depository shares ("ADSs") 14 U.S. dollars, in the underwriters did not exercise the right to excess subscription, 10,904,846 ads (which 7,574,446 ads issued by the company, 3,330,400 ads by the old shareholder contribution), The public offering is about $153 million trillion. Every two shares of American depository stocks represent a common stock of Class A, and the transaction code is "KANG".

According to the data, the AI Kang Ambassador was founded in 2004 by the Love Kang Network and the Shanghai Ambassador Health Inspection Joint formation, relying on its health care service Center, it technology platform and customer service system, every year for millions of of customers to provide health check-up, disease detection, dental services, such as health management services.

The prospectus documents show that the founder and chairman of Zhang Ligang will hold a 14.5% stake and a 36% vote after the IPO. Hebo, founder of today's IPO, accounted for 13.8% of the shares, the second largest shareholder. Zhang Ligang and Hebo did not sell stakes in the IPO, and only chief operating Officer Huang sold a small stake in the company's management.

At the public offering price, investment a total of 40 million US dollars in private placements to best of China Investment Corporation (CIC).

BofA Merrill Lynch (BofA Lynch) and UBS Investment Bank are the main underwriters of the IPO. Oppenheimer & Co is the deputy underwriter of the IPO.

The public fund-raising will be used to invest in or merge medical and health centers, invest or acquire dental centers, upgrade IT systems, and operate capital and other general Enterprise uses, the ambassador said.

In the first nine months of fiscal 2013 (April 1, 2013 to December 31, 2013), the ambassador's income was 173 million U.S. dollars, net profit of 27.9 million U.S. dollars, the year-on-year growth of 49.6% and 41.3% respectively.

As of March 25, 2014, a total of 45 self-care centers and 300 third-party cooperation agencies, all over Hong Kong, Beijing, Shanghai, Guangzhou, Shenzhen and other 15 cities. In fiscal year 2012 (12 months ended March 31, 2013), a total of about 1.9 million persons were provided with medical services. According to the 2013-year income, the state-owned public health care service in China's market share reached 12.3%.