Jiahe Meikang fell 4.4% IPO raised more than 500 million operating cash flow for six and a half consecutive years

Beijing, China Economic Network, September 13 News Jiahe Meikang (688246. SH) closed today at 33.04 yuan, down 4.4%, with a total market value of 4.571 billion yuan. At present, the share price is lower than the issue price.

Jiahe Meikang was listed on the Science and Technology Innovation Board of Shanghai Stock Exchange on December 14, 2021, with an issue price of 39.50 yuan/share and an issue quantity of 34.4694 million shares. The recommendation agency (lead underwriter) is Huatai United Securities Co., Ltd., and the recommendation representatives are Kong Xiangxi and Wang Chen.

The total amount of funds raised by Jiahe Meikang was 1.362 billion yuan. After deducting the issuance expenses, the net amount of funds raised was 1.24 billion yuan. The final net raised capital of Jiahe Meikang was 490 million yuan more than the original plan. According to the prospectus disclosed by Jiahe Meikang on December 9, 2021, the company plans to raise 750 million yuan for specialized electronic medical record research and development projects (emergency and first-aid, maternal and child specialty), comprehensive electronic medical record upgrading and transformation projects, data center upgrading and transformation projects, and supplementary working capital.

The total issuance expense of Jiahe Meikang was 121 million yuan, of which the recommendation agency Huatai United Securities Co., Ltd. received a recommendation and underwriting expense of 97.823 million yuan.

Huatai Innovation Investment Co., Ltd., a relevant subsidiary established by the controlling shareholder of the sponsor institution according to law, participated in the strategic placement of this offering. The number of strategic placement shares was 1378775, accounting for 4.00% of the number of IPO shares. Huatai Innovation Investment Co., Ltd. has a 24 month sales restriction period for the shares allocated with this investment. The sales restriction period starts from the date when the shares of this public offering are listed on the Shanghai Stock Exchange.

From 2017 to 2022, the net cash flow generated by Jiahe Meikang's operating activities was -45.27 million, - 124 million, - 164 million, - 60.24 million, - 197.5 million and - 259 million yuan, respectively, for six consecutive negative years.

From January to June 2023, Jiahe Meikang's revenue was 292 million yuan, up 15.89% year on year; Net profit attributable to shareholders of the listed company was - 28.3879 million yuan, compared with - 25.8141 million yuan in the same period last year; The net profit attributable to shareholders of the listed company after deducting non recurring profits and losses was -28.3879 million yuan, compared with -29.2822 million yuan in the same period of the previous year; The net cash flow from operating activities was - 196 million yuan.

key word: Jiahe Meikang