Report
EUR 93.37
For Business Accounts Only
Yunkang Group is a medical operation service provider in China and as per Frost & Sullivan (F&S), had a market share of 3.7% in China’s medical operation service market as per 2020 revenue. With its six independent clinic laboratories (ICL) and on-site diagnostic centers in medical institutions, it provides diagnostic testing services where diagnostic services fees are charged on the type and quantity of tests provided.
Yunkang saw its full-year FY21 performance pulled up by the later half in the year. It has also been growing its number of on-site diagnostics centers where we had earlier discussed the high stickiness of the partnership. Number of tests administered had also surged 3.45x YoY in FY21, with COVID-related tests growing 6x YoY.
Our previous coverage of the IPO:
Yunkang Group Pre-IPO - Would need to prove itself post-COVID
Yunkang Group IPO
Yunkang Group is looking to raise US$139m in its Hong Kong IPO.Yunkang Group is a medical operation service provider in China and as per Frost & Sullivan (F&S), had a market share of 3.7% in China’s medical operation service market as per 2020 revenue. With its six independent clinic laboratories (ICL) and on-site diagnostic centers in medical institutions, it provides diagnostic testing services where diagnostic services fees are charged on the type and quantity of tests provided.
Yunkang saw its full-year FY21 performance pulled up by the later half in the year. It has also been growing its number of on-site diagnostics centers where we had earlier discussed the high stickiness of the partnership. Number of tests administered had also surged 3.45x YoY in FY21, with COVID-related tests growing 6x YoY.
Our previous coverage of the IPO:
Yunkang Group Pre-IPO - Would need to prove itself post-COVID
Underlying
Yunkang Group
Provider
Aequitas Research
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.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Clarence Chu
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