Lei Jianping on January 6
WORK Medical Technology Group LTD has recently received the filing notice of overseas issuance and listing from the China Securities Regulatory Commission.
Wokr Medical intends to issue 3 million common shares in the range of $4 to $5, raising up to $15 million, and will be listed on the NASDAQ stock exchange under the ticker symbol "WOK".
The operating entity of Wokr Medical in China is Hangzhou Shanyou Medical Device Co., Ltd. (hereinafter referred to as "Shanyou Medical"). Shanyou Medical is a company specializing in the production of medical consumables such as anesthesia, respiratory, first aid, ICU, intervention, masks, etc., and owns brands such as WORK Walker and BOTAILONG.
Shanyou Medical mainly manufactures and sells Class I and Class II medical devices, including endotracheal intubation, laryngeal mask airway, heat and moisture exchange filter (HMEF), disposable breathing circuits, nebulizer kits, and Yankaul suction devices.
According to the prospectus, for the year ended September 30, 2022, Wokr Medical's revenue was US$19.71 million, down 57% from US$45.86 million in the same period last year, and its net profit was US$944,000, down 84.9% from US$6.26 million in the same period last year.
It can be seen that after the disappearance of the epidemic dividend, the performance of Wokr Medical has been greatly affected.
For the half year ended March 31, 2023, Wokr Medical's revenue was US$8.52 million, an increase of 22.9% from US$6.94 million in the same period last year, and its net profit was US$1.43 million, compared to US$346,000 in the same period last year.
Before the IPO, the controlling shareholders of Wokr Medical were Baiming Yu and his wife Liwei Zhang, who controlled 44.35% of the shares, and HJZ GROUP held 11.48% of the shares;
SANYOU NO.1 GROUP LTD holds 7.78% of the shares, Peiyao Jin holds 5.74% of the shares through JPY GROUP, SANYOU NO.2 GROUP holds 5% of the shares, Jiamin Yu holds 5% of the shares through YQJ GROUP, Hongfeng Zhang holds 5% of the shares through ZHF GROUP, and Xiaohan Zhang Zhang) holds a 5% stake through ZXH GROUP.
After the IPO, Baiming Yu and his wife Liwei Zhang controlled 44.35% of the shares, HJZ GROUP held 9.26% of the shares, SANYOU NO.1 GROUP LTD held 6.27% of the shares, Peiyao Jin held 4.63% of the shares through JPY GROUP, and SANYOU NO.2 GROUP held 4.03% of the shares.
Jiamin Yu holds a 4.03% stake through YQJ GROUP, Hongfeng Zhang holds a 4.03% stake through ZHF GROUP, and Xiaohan Zhang holds a 4.03% stake through ZXH GROUP.
———————————————
Lei Di was founded by Lei Jianping, a media person, if it is reprinted, please indicate the source.