Gushengtang Pre-IPO
Gushengtang is a traditional chinese medicine (TCM) healthcare service provider in China. It provides TCM healthcare services and products via its offline medical institutions and online healthcare platforms.As of the LPD, the firm provided services to customers across 31 provinces via its medical service network, and had 19,203 physicians practicing as of Jun 2021.
The firm generates majority of its revenue via its offline medical institutions and only began ramping up its online network with the acquisition of Bailu Platforms in 2H20. Despite the COVID-19 induced lockdowns on its medical institutions, the firm has posted resilient earnings and better cost controls had led to strong profitability. The segment the firm operates in is also expected to outperform the healthcare industry and the overall Grand TCM Healthcare industry in China.
However, 1H21 YoY performance was attributed to a low base effect and sequential performance had been underwhelming. The firm is also operating in a highly fragmented industry and has only 0.09% market share in the overall Grand TCM Healthcare industry.
Gusbourne is engaged, through its wholly owned subsidiary Gusbourne Estate Limited, in the production and distribution of a range of English sparkling wines from grapes grown in its own vineyards in Kent and West Sussex.
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
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