Good News on Listing | Frost & Sullivan Assists iFlytek Medical Technology Co., Ltd. to Successfully Go Public in Hong Kong (2506.HK)

Xunfei Healthcare Technology Co., Ltd. (hereinafter referred to as 'Xunfei Healthcare') successfully listed on the Hong Kong Stock Exchange on December 30, 2024. The total number of shares issued globally was 7,035,550, with an issue price of HK$82.8 per share, raising a total amount of HK$583 million.

During the Hong Kong listing process, Frost & Sullivan mainly undertook the following tasks: helping the issuer accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the issuer's competitive advantages, assisting the issuer and other intermediaries in completing the writing of relevant parts of the prospectus (such as the overview, competitive advantages and strategy, industry overview, business, and other important sections), helping the issuer communicate with the Hong Kong Stock Exchange and investors, assisting investors in quickly understanding the market ecosystem and competitive landscape, and assisting the issuer in completing feedback on various industry-related issues from the Hong Kong Stock Exchange.

• The company is one of the earliest market participants in promoting and implementing large models in China's healthcare industry;

   

• The company is the only one involved in formulating the technical evaluation system and standard specifications for large models used in the medical field;

   

• The company has the capability to commercialize AI-powered products and services in the Chinese healthcare industry, with the largest customer coverage;

   

• The company has established a core technology framework centered around deep neural networks, deep learning, and medical knowledge graphs, as well as proprietary technologies such as speech recognition, image recognition, and natural language understanding applied in the medical field.

According to the Frost & Sullivan report, as of 2023:

• The company ranks first in the Chinese medical artificial intelligence market;

   

• The company ranks first in the AI market for medical institutions in China;

   

• The company ranks first in the Chinese CDSS market (including primary healthcare institutions and hospital CDSS markets).

The market scale of artificial intelligence solutions in China increased from 422 billion yuan in 2019 to 1210 billion yuan in 2023, with a compound annual growth rate of 30.1%. It is expected to reach 1842.9 billion yuan in 2033, with a compound annual growth rate of 31.3%.

Data source: Analysis by Frost & Sullivan

The market scale of medical artificial intelligence in China increased from 2.7 billion yuan in 2019 to 8.8 billion yuan in 2023, with a compound annual growth rate of 33.8%. It is expected to reach 315.7 billion yuan by 2033, with a compound annual growth rate of 43.1% from 2023 to 2033.

Data source: Analysis by Frost & Sullivan

The market scale of artificial intelligence in Chinese medical institutions has increased from 2 billion yuan in 2019 to 6.4 billion yuan in 2023, with a compound annual growth rate of 32.9%. It is expected to increase to 224.4 billion yuan by 2033, with a compound annual growth rate of 42.8% from 2023 to 2033.

Data source: Analysis by Frost & Sullivan

The market scale of CDSS in Chinese medical institutions increased from RMB 700 million in 2019 to RMB 1.29 billion in 2023, with a compound annual growth rate of 16.6%. It is expected to increase to RMB 6.04 billion by 2033, with a compound annual growth rate of 16.7% from 2023 to 2033.

Data source: Analysis by Frost & Sullivan

The market scale of CDSS in primary healthcare institutions in China increased from RMB 160 million in 2019 to RMB 260 million in 2023, with a compound annual growth rate of 13.0%. It is expected to increase to RMB 1.74 billion by 2033, with a compound annual growth rate of 20.9% from 2023 to 2033.

Data source: Analysis by Frost & Sullivan

The market scale of digital chronic disease management in China increased from 110 million yuan in 2019 to 460 million yuan in 2023, with a compound annual growth rate of 42.2%. It is expected to increase to 247 million yuan by 2033, with a compound annual growth rate of 18.2% from 2023 to 2033.

Data source: Analysis by Frost & Sullivan

The market scale of CDSS in Chinese hospitals increased from RMB 260 million in 2019 to RMB 470 million in 2023, with a compound annual growth rate of 16.2%. It is expected to reach RMB 1.98 billion by 2033, with a compound annual growth rate of 15.5% from 2023 to 2033.

Data source: Analysis by Frost & Sullivan

Frost & Sullivan, integrating 63 years of global consulting experience, has dedicated 26 years to serving the booming Chinese market. With a global perspective, it helps clients accelerate their business growth and achieve benchmark positions in industry growth, innovation, and leadership. The healthcare industry is one of Frost & Sullivan's core areas of focus. Over the past 20-plus years, the Frost & Sullivan team has provided financing and financial advisory services, IPO industry advice, strategic consulting, management consulting, and other services to hundreds of outstanding domestic and international biopharmaceutical, medical device, healthcare service, and internet healthcare companies. Successful listings include: Huahao Zhongtian (2563.HK), Yinos (688710.SH), Jingtai Technology (2228.HK), Yimai Sunshine (2522.HK), Shenghe Biotech (2898.HK), Quanxin Biotech (2509.HK), Meizhong Jiahe (2453.HK), WuXi AppTec (2268.HK), Anuo Medicine (NASDAQ:ANL), Neusoft Xikang (9686.HK), Youzhiyou (2496.HK), Yiming Angke (1541.HK), Corning Biotech (6990.HK), LaiKai Medicine (2105.HK), Kedig Group (2487.HK), Lvr Biotech (2480.HK), Meis Health (2415.HK), PHECR, Zhongjin Medical (NASDAQ:ZJYL), Yisheng Biotech (NASDAQ:YS), Meili Tianyuan (2373.HK), Kangfeng Biotech (6922.HK), Bao'an Biotech (6955.HK), Sida Di (1244.HK), Meihao Medical (1947.HK), Gaoshi Medical (2407.HK), Lepu Xin Tai (2291.HK), Jian Shi Technology (9877.HK), Health Yuan (JCARE.SW), Lepu Medical (LEPU.SW), Dingdang Health (9886.HK), Biotec (2315.HK), Zhiyun Health (9955.HK), MeinGene (6667.HK), Prenetics (PRE.NASDAQ), Yunkang Group (2325.HK), Rike Biotech (2179.HK), Lepu Biotech (2157.HK), Clear Medical (1406.HK), Baxin An (2185.HK), Yonghe Medical (2279.HK), Kailai Ying (6821.HK), Beihai Kangcheng (1228.HK), Gusheng Tang (2273.HK), Yingpeng Technology (2251.HK), Clover Biotech (2197.HK), Minimally Invasive Robotics (2252.HK), Harmony Cayman (2256.HK), Kunbo Medical (2216.HK), Xianruida (6669.HK), Kangsheng Global (9960.HK), Yimai Tong (2192.HK), Tengsheng Bopharm (2137.HK), Canopy (2162.HK), Chaoyu Eye Hospital (2219.HK), Guichuang Tongqiao (2190.HK), Huihuang Medicine (0013.HK), Koji Pharmaceutical (2171.HK), Zhaoke Eye Hospital (6622.HK), Nature Pharmaceuticals (UPC.NASDAQ), Saiseng Pharmaceutical (6600.HK), Zhaoyan New Drugs (6127.HK), Novogene Health (6606.HK), ADAG.NASDAQ, Beikang Medical (2170.HK), Jianbimiao Miao (2161.HK), Minimally Invasive Xin Tong (2160.HK), Rui Li Medical Beauty (2135.HK), Jiaosisi Pharmaceutical (1167.HK), Hepo Pharma (2142.HK), JD Health (6618.HK), Deqi Pharmaceutical (6996.HK), Rongchang Biotech (9995.HK), WuXi AppTec (2126.HK), SinoBIO (2096.HK), Yunding New Energy (1952.HK), Jiahe Biotech (6998.HK), Zai Ding Medicine (9688.HK), Ocular Biotech (1477.HK), Yongtai Biotech (6978.HK), Hapu Pharmaceutical (9989.HK), Kuaibo Pharmaceutical (9939.HK), Peijia Medical (9996.HK), Kangfang Biotech (9926.HK), Nuo Cheng Jianhua (9969.HK), Tianjing Biotech (IMAB.NASDAQ), Kanglong Chemical (3759.HK), China Antibody (3681.HK), Dongyao Pharmaceutical (1875.HK), Yasheng Pharmaceutical (6855.HK), Fuhong Hanlin (2696.HK), Hansoh Pharmaceutical (3692.HK), Mabotech (2181.HK), Fangda Holdings (1521.HK), Via Biotech (1873.HK), CStone Pharmaceuticals (2616.HK), Junshi Biotech (1877.HK), WuXi AppTec (2359.HK), Xinda Biotech (1801.HK), Hualing Medicine (2552.HK), BeiGene (6160.HK), Gilead Sciences (1672.HK), WuXi AppTec (2269.HK), China Resources Medicine (3320.HK), Yakuten Scientific Research Pharmaceutical (2633.HK), Huihuang China Medicine (HCM.NASDAQ), Biotech (1548.HK), BBI Life Sciences (1035.HK), Tongyuan Kang Medicine (2410.HK), etc. In terms of the number of filings, the Frost & Sullivan healthcare team maintains an absolute leading position in Hong Kong's healthcare IPO market, consistently ranking first in market share from 2018 to 2023.

Since the listing of the first batch of companies on the Sci-tech Innovation Board in July 2019, Frost & Sullivan reports have also been widely cited in the prospectuses of leading Sci-tech Innovation Board listed companies in the industry. These include: Zhongyan Co., Ltd. (688716.SH), Zhejiang Rongtai (603119.SH), Optoelectronics Technology Group Co., Ltd. (688450.SH), Jinghe Integration (688249.SH), Wuxi Rilian (688531.SH), Maolai Optics (688502.SH), Kangwe Century (688426.SH), Jinchuan Protein (688137.SH), Novogene Biologics (688428.SH), Aopu Mabio (688293.SH), MicroPort Electrophysiology (688351.SH), Mengke Pharmaceutical (688373.SH), Yifang Biologics (688382.SH), Jicui Pharmaceutical (688046.SH), Haichuang Pharmaceutical (688302.SH), Rongchang Biologics (688331.SH), Rendu Biologics (688193.SH), Shouyao Holdings (688197.SH), Heyuan Biologics (688238.SH), Yaxin Security (688225.SH), Xidi Micro (688173.SH), Mawei Biologics (688062.SH), Yahong Medicine (688176.SH), BeiGene (688235.SH), Jiahe Meikang (688246.SH), Dizhe Medicine (688192.SH), Novozyme (688105.SH), Chengda Biologics (688739.SH), Geke Micro (688728.SH), Huaxi Biologics (688363.SH), Junshi Biologics (688180.SH), Zhejiang Oncology (688266.SH), BeiGene (688177.SH), Shenzhou Cells (688520.SH), and others, are considered to be one of the most powerful, professional, and influential industry research institutions in the industry. We hope to work with enterprises to understand industry trends, seize development opportunities, jointly promote innovation and upgrading of China's health industry, and build a healthy future.