With net profit compound growth of 145% from 2018 to 2020, Medlive passes HK Exchanges’ hearing for listing
According to HK Exchanges’ information on June 22, Medlive Technology Co., Ltd. has passed its hearing for listing on the main board, with Goldman Sachs and Haitong International as joint sponsors.
Medlive focuses on establishing an excellent Internet doctor platform and building an ecosystem of medical professionals. The company's ecosystem provides solutions for doctors, pharmaceutical and medical device companies, patients, and hospitals.
According to the Frost & Sullivan report, Medlive ranks first among the professional doctor platforms in China based on the number of registered doctor users by December 31, 2020. As of December 31, 2020, Medlive platform has approximately 3.5 million registered users, of which approximately 2.4 million users are practicing doctors, accounting for nearly 58% of all practicing doctors in China. In the fourth quarter of 2020, its average monthly active users exceeded 1 million. During the same period, registered users clicked over 134 million times on the platform’s articles and videos each month.
Medlive only focuses on digital medical marketing. In terms of revenue in 2020, the company ranks first among physician platforms that provide digital medical marketing services in China. Its medical marketing revenue in 2020 was 204 million yuan, accounting for 0.03% of the market.
Its prospectus shows that Medlive’s revenue increased from 83.463 million yuan in 2018 to 121.6 million yuan in 2019, and further increased to 213.5 million yuan in 2020, with a compound annual growth rate of 59.9% from 2018 to 2020.
Its net profit increased from 14.189 million yuan in 2018 to 31.27 million yuan in 2019, and further increased to 85.197 million yuan in 2020. The compound annual growth rate from 2018 to 2020 is 145%. The net profit margins from 2018 to 2020 are 17%, 25.7% and 39.9%, respectively.
Fundraising purposes: (1) Expansion of business in the next three to five years, including developing and increasing types of solutions, broadening customer base, improving customer loyalty, and promoting user growth and participation; (2) In the next three to five years invest in technology and improve research and development capabilities; (3) Carefully select strategic investment or acquisition opportunities; (4) General operation capital and other common corporate purposes.
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