Company Overview
| Stock Name | Airdoc-B |
|---|---|
| Stock Code | 02251 |
| Company Full Name | To be extracted |
| Industry | Information Technology |
| Principal Activities | 基於人工智能的醫療器械公司，提供人工智能視網膜影像識別的早期檢測、診斷及健康風險評估解決方案，產品組合包括Airdoc-AIFUNDUS、健康風險評估解決方案及硬件設備。 |
| Listing Date | 2021-11-05 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | 18A生物科技 |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 北京市海淀區西三環北路甲2號院2號樓4層21室 |
| Business Address (Hong Kong) | 香港銅鑼灣希慎道33號利園一期19樓1901室 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | airdoc.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2980 1333 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism A |
|---|---|
| Offer Price | HK$ 75.10 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 7,510 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2021-10-26 to 2021-10-29 |
| Global Offering Shares | 22,267,200 shares |
| HK Public Offer Shares (Initial) | 2,226,800 shares (10.0%) |
| Public Offer Lots (Initial) | 22,268lots (Pool A11,134lots，Pool B11,134lots) |
| International Placing Shares (Initial) | 20,040,400 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 103,568,013 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | 32.5% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 1,672,266,720 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 7,510 |
| 2 lots | 200 | HK$ 15,020 |
| 3 lots | 300 | HK$ 22,530 |
| 4 lots | 400 | HK$ 30,040 |
| 5 lots | 500 | HK$ 37,550 |
| 6 lots | 600 | HK$ 45,060 |
| 7 lots | 700 | HK$ 52,570 |
| 8 lots | 800 | HK$ 60,080 |
| 9 lots | 900 | HK$ 67,590 |
| 10 lots | 1,000 | HK$ 75,100 |
| 15 lots | 1,500 | HK$ 112,650 |
| 20 lots | 2,000 | HK$ 150,200 |
| 25 lots | 2,500 | HK$ 187,750 |
| 30 lots | 3,000 | HK$ 225,300 |
| 35 lots | 3,500 | HK$ 262,850 |
| 40 lots | 4,000 | HK$ 300,400 |
| 45 lots | 4,500 | HK$ 337,950 |
| 50 lots | 5,000 | HK$ 375,500 |
| 60 lots | 6,000 | HK$ 450,600 |
| 70 lots | 7,000 | HK$ 525,700 |
| 80 lots | 8,000 | HK$ 600,800 |
| 90 lots | 9,000 | HK$ 675,900 |
| 100 lots | 10,000 | HK$ 751,000 |
| 200 lots | 20,000 | HK$ 1,502,000 |
| 300 lots | 30,000 | HK$ 2,253,000 |
| 400 lots | 40,000 | HK$ 3,004,000 |
| 500 lots | 50,000 | HK$ 3,755,000 |
| 600 lots | 60,000 | HK$ 4,506,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 700 lots | 70,000 | HK$ 5,257,000 |
| 800 lots | 80,000 | HK$ 6,008,000 |
| 900 lots | 90,000 | HK$ 6,759,000 |
| 1,000 lots | 100,000 | HK$ 7,510,000 |
| 2,000 lots | 200,000 | HK$ 15,020,000 |
| 3,000 lots | 300,000 | HK$ 22,530,000 |
| 4,000 lots | 400,000 | HK$ 30,040,000 |
| 5,000 lots | 500,000 | HK$ 37,550,000 |
Stock Connect Inclusion Analysis
| 26Q4 Regular Review | |
| Inclusion Pathway | Regular Path |
|---|---|
| HK Market Cap | HK$ 1.02B |
| Est. Threshold | HK$ 9.44B |
| Analysis Result | HK market cap below threshold, need +826% |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 7,777,957,776 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 1,947,652,261 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | 不适用（公司处于亏损状态） |
| Profit/Loss Status | 亏损人民币79.6百万元 |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
Financial Data
Unit:
'000
RMB
Income Statement
| Item | 2019 | 2020 |
|---|---|---|
| Profit for the year | -87,139 | -79,626 |
Balance Sheet
| Item | 2019 | 2020 | 2021-06 |
|---|---|---|---|
| Cash and cash equivalents | 85,336 | 374,698 | |
| Trade and bills receivables | 16,512 | 19,545 | |
| Inventories | 0 | 3,559 | |
| Total current assets | 233,139 | 408,899 | |
| Total current liabilities | 396,471 | 24,898 | |
| Total equity | -159,344 | 408,450 | |
| Equity attributable to owners | -159,367 | 408,212 | |
| Interest-bearing borrowings | 519 | 519 | 5,047 |
Cash Flow Statement
| Item | 2019 | 2020 | 2021-06 |
|---|---|---|---|
| Net cash from operating activities | -58,696 | -42,856 | |
| Net cash from investing activities | -26,708 | 91,695 | |
| Net cash from financing activities | 61,397 | 240,633 | |
| Net increase in cash | -24,007 | 289,472 | |
| Purchase of PP&E | -1,952 | -5,349 | -21,913 |
Income Statement
Balance Sheet
Cash Flow Statement
Source: Accountants' Report and Audited Consolidated Financial Statements
| First Day Close | HK$ 68.0 |
|---|---|
| First Day Open | HK$ 67.6 |
| First Day Change | -9.45% |
| First Day Volume | 11495800.0 |
| First Day Turnover | 792433000.0 |
| Use of Proceeds | 1、約50.0%（或783.2百萬港元）將分配予我們的核心產品Airdoc-AIFUNDUS的持續優化、開發及商業化；
2、約19.0%（或297.6百萬港元）將用于資助我們硬件設備的研發及生產；
3、約10.0%（或156.6百萬港元）將用于資助我們正在進行的及未來的健康風險評估解決方案的研發；
4、約6.0%（或94.0百萬港元）將用于我們產品組合的開發，以豐富我們人工智能視網膜影像識別的早期檢測、診斷及健康風險評估解決方案；
5、約5.0%（或78.3百萬港元）將用于為我們與學術及研究機構就聯合研究項目進行的合作提供資金；
6、約10.0%（或156.6百萬港元）將用于營運資金及一般公司用途。 |
Underwriting Syndicate
Joint Sponsors (2)
Overall Coordinators (5)
Joint Bookrunners (10)
UBS Securities Hong Kong Limited CE BIN466
CLSA LIMITED CE AAB893
CMB International Capital Limited CE AVM940
SDIC SECURITIES (HONG KONG) LIMITED CE AUW685
海通国际证券有限公司 CE AAF806
PING AN SECURITIES (HONG KONG) COMPANY LIMITED CE BMC491
Fosun International Securities Limited CE AAF432
GF Securities (Hong Kong) Brokerage Limited CE AOB364
GUODU SECURITIES (HONG KONG) LIMITED CE ASK641
SPDB International Capital Limited CE BFZ375
Joint Lead Managers (10)
UBS Securities Hong Kong Limited CE BIN466
CLSA LIMITED CE AAB893
CMB International Capital Limited CE AVM940
SDIC SECURITIES (HONG KONG) LIMITED CE AUW685
海通国际证券有限公司 CE AAF806
PING AN SECURITIES (HONG KONG) COMPANY LIMITED CE BMC491
Fosun International Securities Limited CE AAF432
GF Securities (Hong Kong) Brokerage Limited CE AOB364
GUODU SECURITIES (HONG KONG) LIMITED CE ASK641
SPDB International Capital Limited CE BFZ375
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | CloudAlpha Master Fund | 116,682,870 HKD | — | 7.00% | — | 6 months | 2022-05-05 |
| 2 | Lake Bleu Prime Healthcare Master Fund Limited | 38,894,290 HKD | — | 2.30% | — | 6 months | 2022-05-05 |
| 3 | LAV Star Limited | 77,788,580 HKD | — | 4.70% | — | 6 months | 2022-05-05 |
| 4 | LMR Master Fund Limited | 58,337,680 HKD | — | 3.50% | — | 6 months | 2022-05-05 |
| 5 | OrbiMed Funds | 38,894,290 HKD | — | 2.30% | — | 6 months | 2022-05-05 |
| 6 | WT Asset Management Limited | 77,788,580 HKD | — | 4.70% | — | 6 months | 2022-05-05 |
| 7 | 常春藤资产管理(香港)有限公司 | 54,447,500 HKD | — | 3.30% | — | 6 months | 2022-05-05 |
| 8 | 广发基金管理有限公司 | 77,788,580 HKD | — | 4.70% | — | 6 months | 2022-05-05 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 張大磊 | — |
| Company Secretary | 楊文婷、馮寶婷 | — |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | 張大磊、陳羽中、高斐及鬱金香宇宙作為一組股東（單一最大股東集團），緊隨全球發售完成後共同持股約24.50%。其他主要股東包括亞東北辰持股約9.92%、平安醫療科技持股約6.92%。 |
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