Qisda Group is making strides in the healthcare sector, with its subsidiary, BenQ Hospital, recently passing the Hong Kong Stock Exchange’s listing hearing and entering the roadshow and subscription stages. Market estimates suggest that, based on previous Hong Kong IPO processes, if everything goes smoothly, BenQ Hospital could potentially be listed in Hong Kong as soon as this quarter, marking another successful listing for the Qisda Group.
According to BenQ Hospital's prospectus, it is the largest private, for-profit general hospital group in Eastern China. The group owns two large general hospitals, with Nanjing BenQ Hospital being the first private hospital in Jiangsu Province to receive a Grade A (three-star) rating, while Suzhou BenQ Hospital has received accreditation from the Joint Commission International (JCI), a global healthcare accreditation body.
In terms of financial performance, BenQ Hospital is projected to generate revenues of RMB 2.659 billion in 2024, with a gross margin of 18.1%, down from previous years. The decline is mainly attributed to increased expenses due to the hiring of more medical professionals to support the hospital's growth. Profits are also expected to decrease from approximately RMB 168 million in 2023 to around RMB 109 million in 2024.
According to the Hong Kong Stock Exchange, the IPO of BenQ Hospital passed its listing hearing on April 11, and the company is now in the roadshow and subscription stages. Industry analysts predict that, if all goes well in these stages, BenQ Hospital could be listed in Hong Kong by the end of this quarter.
However, given the global market volatility caused by the trade war initiated by U.S. President Trump, industry insiders note that large investors tend to be cautious about entering the market during such turbulent times. Therefore, it remains to be seen whether Qisda Group will be able to reach an agreement with investors and secure a favorable listing price. If the subscription fails to meet expectations, BenQ Hospital’s listing date could be delayed until the second half of the year.
Looking ahead, Qisda Chairman Peter Chen has previously stated that the group continues to move toward the goal of generating more than half of its profits from high-value-added businesses by 2027. Despite the global economic uncertainty, the healthcare sector has shown steady growth year after year, and Qisda plans to continue expanding its presence in hospital services, pharmaceutical distribution, and medical devices, which are expected to drive significant growth this year.
Qisda’s projected revenue for 2024 is NT$201.7 billion, with the healthcare sector contributing NT$26.3 billion, or 13% of total revenue. To strengthen its pharmaceutical retail channel, Qisda increased its stake in Nobel Baby to 40.66% last year.
Resource: 佳世達醫療布局 跨步
