Lei Jianping September 14
Dingdang Health Technology Group Limited ("Dingdang Health", stock code: "09886") is listed on the Hong Kong Stock Exchange today.
Dingdang Health's offering price was HK$12 and the net proceeds were HK$342 million.
The cornerstone investors of Dingdang Health Pass include Sunshine Insurance, Harvest and Jumpcan, with a total subscription of $38 million, of which Sunshine Insurance subscribed $25 million, Harvest subscribed $10 million, and Jumpcan subscribed $3 million.
Dingdang Health opened at HK$12.34, up 2.83% from the issue price; As of now, the market value of Dingdang Health is about HK$16.178 billion.
The first quarter lost 400 million
Dingdang Health uses integrated online and offline operations to provide users with a full range of real-time medical products and services, such as fast medicine, online diagnosis and treatment, and chronic disease and health management.
1, fast medicine. Dingdang Health is committed to providing users with a simplified real-time drug purchase experience, with products delivered to purchasers within 28 minutes 28 minutes of the delivery service within the delivery service coverage area.
As of the last practicable date, Dingdang Health has established a network of 302 smart pharmacies in 14 cities in China to deliver products through Dingdang Health's nationwide delivery team.
2, online diagnosis and treatment consultation. Dingdang Health provides users with online doctor diagnosis and treatment services through Internet hospitals and medical teams, covering chronic diseases and other medical conditions. Dingdang Health's medical team consists of 16 full-time and 58 part-time doctors, more than 800 external doctors working with third-party medical institutions, and other medical professionals including 397 pharmacists.
3, chronic diseases and health management. To supplement the supply of Jingdang Health Fast Medicine and online diagnosis and treatment consultation services. Dingdang Health offers a portfolio of chronic disease and health management services, including medication and dosage guidance, follow-up reminders, prescription renewals, health information feedback and medical knowledge management.
Dingdang Health places focus building advertisements to enhance the explosive power of mainstream urban populations
Dingdang Health also launches focus building advertisements to enhance the detonation power in the mainstream population of the city and penetrate the minds of users.
Dingdang Health's revenue in 2018, 2019, 2020 and 2021 was 584 million yuan, 1.276 billion, 2.229 billion and 3.679 billion yuan, respectively; Gross profit was RMB240 million, RMB470 million, RMB766 million and RMB1.162 billion, respectively; Gross profit margin was 41.1%, 36.8%, 34.4% and 31.6%, respectively.
Dingdang Health's losses in 2018, 2019, 2020 and 2021 were 103 million yuan, 274 million yuan, 920 million yuan and 1.599 billion yuan respectively, and the loss rates during the year were 17.6%, 21.5%, 41.3% and 43.5% respectively.
Dingdang Health's revenue for the first quarter of 2022 was 987 million yuan, compared with 780 million yuan in the same period last year; gross profit was 334 million yuan, compared with 237 million yuan in the same period of the previous year; gross profit margin was 33.9%, and gross profit in the same period of the previous year was 30.4%; Loss for the period was $404 million, compared to a loss of $749 million for the same period last year.
Dingdang Health's adjusted net losses for 2019, 2020 and 2021 were RMB123 million, RMB149 million and RMB329 million, respectively; Adjusted net loss ratios were 9.7%, 6.7% and 9%, respectively.
Dingdang Health's adjusted loss for the first quarter of 2022 was 44.1 million, compared to an adjusted loss of 69.74 million in the same period last year; The adjusted loss ratio was 4.5 per cent, compared to an adjusted loss rate of 8.9 per cent for the same period last year.
As at 31 March 2022, Dingdang Health held cash and cash equivalents of $1,498 million, compared to $427 million for the same period last year.
TPG and OrbiMed are shareholders
The executive directors of Dingdang Health are Yang Wenlong, Xu Ning, Yu Lei, Yu Qinglong; The non-executive directors are Ms. Lian Suping and Ms. Cai Li; Independent non-executive directors are Zhang Shouchuan, Fan Zhenhong and Jiang Shan.
Investors of Dingdang Health include Ningbo SoftBank, Qingdao SoftBank, Tongdao Win-Win, Shenzhen CMB New Trend, Shenzhen CMB Win-Win, Zhongjin Qizhi, Ningbo Qirui, Tianshi Renhe, Aochuan Bond, Jinjiao Langqiu, Rising Sun Hsinchu, Zhongguancun Longmen, Gaochuang Haiying, Ningbo Qiwan, Nanjing CMB Win-Win, Guangzhou Zhaoxin, Shenzhen SoftBank, Taikang Life Insurance, Tongdao Hong Kong, TPG Asia VII, Worldwide Healthcare Trust, OrbiMed Genesis, OrbiMed New Horizons, Redview Capital, Travis, Valliance, Summer Eminence, Yingke Innovation Fund, YANGTZE, Zhuo Jun, Marble, Hongxin, Aqua and Tasly.
In June 2020, Dingdang Fast Medicine announced a new round of financing of $220 million. This round of investment is led by TPG Capital Asia, jointly led by OrbiMed and Redview Capital, and followed by Valliance, Orchid Asia, Xia Yan Capital, Yingke Capital and other institutions.
Wang Zhan, former vice president of Baidu and now an investor, said, "Yang Wenlong's big brother is a good person, I admire him for his success in his fifties and still starting a business to do jingle, and the first round of external financing in 16 years was directly invested." Whoever does not have a strong wind and rain, keep the flowers blooming and seeing the moon! No matter the good times and bad times, always optimistic, always positive energy. Persistence is victory! ”
Prior to the IPO, Jianxing Limited held 21.16%, Excel Returns Group held 0.9%, Jianfa Limited held 22.59%, Go Prosper Enterprises Corporation held 4.16% and Much Premium held 1.67%.
Yang Wenlong indirectly holds or controls 50.48% of the voting rights of the Company (of which about 21.16% is held through Jianxing Limited, about 22.59% is held through Jianfa Limited, and about 6.73% is held or controlled by voting rights proxy arrangements (including 0.90% held or controlled by Zhiying Group, about 4.16% through Zhisheng Enterprises Limited, and about 1.67% through Chuangji Investment Co., Ltd.).
Xingxin Limited is owned by Yang Wenlong and Yang Yibin with 60% and 40% equity interests respectively. Jianfa Limited is a wholly-owned subsidiary of Kingfa Limited. Kingfa Limited is owned by Yang Wenlong and Yang Xiao with 60% and 40% of the shares respectively. Yang Wenlong is the father of Yang Yibin and Yang Xiao.
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