Qisda (TWSE: 2352) announced that, BenQ Medical Center (BenQ BM Holding Cayman Corp., referred to as "BBHC"), a subsidiary of Qisda, has submitted listing application documents to the Main Board of The Stock Exchange of Hong Kong Limited. 

BenQ Medical Center currently owns two private for-profit general hospitals, namely Nanjing BenQ Medical Center, and Suzhou BenQ Medical Center, both of which are recognized as training bases. According to Frost & Sullivan, as measured by revenue generated from healthcare services in 2022, BBHC is the largest private for-profit general hospital group in the East China region, with its revenue exceeding the second and third largest groups combined. By the same measure, it is also the fifth largest private for-profit general hospital group nationwide. Furthermore, as measured by average revenue per registered bed in 2022, it ranks the first among all private for-profit general hospital groups in mainland China, according to the same source.

Nanjing BenQ Medical Center

East China's Largest, Financially Stable Growth

BenQ Medical Center is dedicated to providing patients with world-class and high-standard healthcare services. Leveraging the influence and presence of its controlling shareholder, Qisda, in the information and communication technology (ICT) industry, BBHC has established industry-leading operational capabilities, granular management system, and innovative smart hospital operation models. This has enabled it to gain unique competitive advantages distinguishing it from other general hospitals. During the past three years, even amidst the impact of the COVID-19 pandemic, BBHC experienced steady growth in its business and financial performance, as evidenced by the rapid increases in its number of patient visits. In 2023, BBHC recorded over two million outpatient visits and performed over 20,000 inpatient surgeries.

BenQ Medical Center's revenue increased by 5.1% from RMB2,223.6 million in 2021 to RMB2,336.4 million in 2022, and further by 15.0% to RMB2,687.6 million in 2023. The net profit increased by 29.7% from RMB69.1 million in 2021 to RMB89.6 million in 2022, and further by 87.0% to RMB167.5 million in 2023.

Due to its operational capabilities and granular management system to effectively control costs and improve operational efficiency, the gross profit margin increased from 15.3% in 2021 to 16.4% in 2022, and further to 18.9% in 2023. The net profit margin increased from 3.1% in 2021 to 3.8% in 2022 and further to 6.2% in 2023.

Suzhou BenQ Medical Center

Standing Firm in China, Striving to Lead in Asia

Driven by economic growth, favorable policies and expanding yet diversifying public demands for healthcare services in recent years, private hospitals in the PRC have outpaced public hospitals in growth. According to Frost & Sullivan, the market size of private hospitals in the PRC (as measured by revenue) is estimated to increase from 2017 to 2022 by a compound annual growth rate (CAGR) of 13.7%, far exceeding the 7.8% CAGR of public hospitals during the same period. Furthermore, it is predicted that the market size of private hospitals will reach RMB1,094.3 billion in 2026, representing a CAGR of 15.9% from 2022 to 2026.

Building on its leading position in the national private for-profit general hospital group, BBHC is committed to expanding its existing scale and becoming a leading private hospital group in Asia. The company plans to "strengthen its advantage of comprehensive healthcare services plus medical specialties", "expand its existing hospital service capabilities", "establish regional medical alliances to cover patients' full treatment cycle needs", "expand its healthcare service platform through acquisitions", and "enhance smart healthcare", thereby continuing to strengthen BBHC's position as a pioneer and leader.

To learn more about BenQ Medical Center's listing application proof: 

Chinese version:
https://www1.hkexnews.hk/app/sehk/2024/106348/documents/sehk24040302215_c.pdf 

English version:

https://www1.hkexnews.hk/app/sehk/2024/106348/documents/sehk24040302216.pdf