Qing Song Health, the nation's first company with long-term care as its core business to be publicly listed, held its pre-IPO performance briefing on the 20th. Chairman Chen Mou stated that Qing Song Health is dedicated to providing comprehensive long-term care services, including home-based, community-based, and institutional care. The company currently operates 1,094 beds across its residential care facilities and is developing 55 community-based long-term care centers (36 of which are operational, with 19 under preparation). To date, it has completed 3,029 service cases, establishing itself as a major long-term care provider in central Taiwan.
Chen emphasized that the government’s Long-Term Care 2.0 policy has not only expanded the scope of services but also strengthened related infrastructure, providing a solid foundation for the industry’s stable growth. With a favorable market environment, Qing Song Health plans to deepen its presence in central Taiwan while extending its reach to the six major metropolitan areas, including Taipei, New Taipei, and Taoyuan. By tapping into these regions' higher spending power, the company aims to enhance its operational momentum.
Qing Song Health is scheduled to transition from the Emerging Stock Market to a public listing by mid-January 2025. The company’s current paid-in capital is approximately NT$600 million. Its consolidated revenue for the first 11 months of this year reached NT$890 million, a 13% year-on-year increase, surpassing last year’s total of NT$860 million. However, due to ongoing expansion, its earnings per share (EPS) for the first three quarters of this year stood at NT$0.44, slightly declining compared to the same period last year.
Qing Song Health noted that it adopts a diversified service model to actively explore the silver economy, offering services ranging from institutional care (providing 24/7 professional care), community-based services (daycare centers, small multifunctional facilities, and group homes), to home-based care services (in-home caregiving). The company also engages in real estate leasing, the sale of caregiving supplies, consulting for long-term care facilities, and interior design, creating diverse revenue streams to bolster its operations.
According to the National Development Council, Taiwan is projected to enter a "super-aged society" by 2025, with individuals aged 65 and above accounting for nearly 21% of the population. As the elderly population grows, the prevalence of chronic diseases and functional impairments is rising rapidly, driving the increasing demand for long-term care. Statistics from the Ministry of Health and Welfare indicate that the number of people requiring long-term care in Taiwan will grow from 738,000 in 2017 to over one million by 2026.
To address the rising demand for long-term care stemming from the aging and disabled population, the government launched the Ten-Year Long-Term Care 2.0 Plan in 2017. This initiative expanded service coverage and categories to include individuals aged 50 and above with dementia, disabled individuals under 50, Indigenous people aged 55–64 with disabilities, and frail elderly individuals aged 65 and above. Benefiting from government policies, Qing Song Health has seen stable revenue growth over the past five years, with annual revenue rising from NT$124 million in 2019 to NT$869 million in 2023.
Qing Song Health highlighted its core competitive advantages, including market share, economies of scale, and strategic regional presence. The company’s daycare services hold a 16% market share in Taichung City. With the number of facilities soon surpassing 60, Qing Song Health's services now cover 11 administrative regions across Taiwan, forming a "moat" with significant economies of scale. Its institutional care facilities are primarily located in Taichung, Nantou, and Kaohsiung, while its community-based and home-based services are rapidly expanding nationwide.
Resource: 長照首例！青松健康下月中旬上市、積極布局六都銀髮經濟
