TH Medical-B 02697Hong Kong Stock ExchangeIPOProspectus Information

47.00010.31%( -5.400 )
Nov 13 · End-of-day data, not live · Hong Kong Stock Exchange
Listing Date: 2026-06-30 · Registrar: 卓佳
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IPO Timeline Raw facts

Broker Deadline
Morning deadline
HKEX Deadline
Noon deadline
Broker Results (T-2)
Some brokers release in afternoon
Grey Market (T-1)
Afternoon
HKEX Allotment (T-1)
Evening
Registrar Allotment (T-1)
Evening
Listing Day (T)
First day of trading

Company Overview

Stock NameTH Medical-B
Stock Code02697
Company Full NameGuangdong True Health Medical Technology Development Co., Ltd.
Industry機器人科技
Principal ActivitiesWe are engaged in the research, development and commercialization of percutaneous puncture surgical robots and ablation surgical robots in China. Our core product is the percutaneous puncture surgical robot (four models), and our key products include the percutaneous microwave ablation surgical robot, as well as five other candidate products such as the compact percutaneous puncture surgical robot, microwave ablation therapy device, cryoablation robot, ex vivo organ preservation and assessment system, etc.
Listing Date2026-06-30
Listing Rules EraNew Rules (after Aug 2025)
Listing Rules Chapter18A生物科技
Weighted Voting Rights (WVR)No
Registered Address (Mainland China)廣東省珠海市橫琴新區環島東路1889號9棟第一層101室
Business Address (Hong Kong)香港灣仔皇后大道東248號大新金融中心40樓
Place of IncorporationChina
Listing MethodGlobal Offering
Listing BoardMain Board
Websitetruehealth.cn
Share Registrar卓佳证券登记有限公司 (Tricor Investor Services Limited)
Registrar Contact卓佳证券登记有限公司，香港金钟道89号力宝中心1座31楼3101-3103室
A-Share/US Dual ListingNo

Offering Information

Offering Mechanism Mechanism B
Offer PriceHK$ 126.20 / shares
Offer Price RangeFinal offer price only, no range
Lot Size20 shares
Entry ThresholdHK$ 2,524
Par ValueRMB 1.0 / shares
Offer Period2026-06-22 to 2026-06-25
Global Offering Shares3,564,700 shares
HK Public Offer Shares (Initial)356,480 shares (10.0%)
Public Offer Lots (Initial)17,824lots (Pool A8,912lots，Pool B8,912lots)
International Placing Shares (Initial)3,208,220 shares (90.0%)
Offer Ratio~10.0%
Total Shares Post-IPO35,647,003 shares
Greenshoe (Over-allotment Option)No
Stabilizing Manager (Greenshoe)—
Cornerstone ShareNo cornerstone investors
Clawback TiersTo be extracted
Reallocation OptionYes
Total Global Offering SizeHK$ 449,865,140

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 SubscribedShares SubscribedSubscription Amount (HKD)
1 lots 20 HK$ 2,524
2 lots 40 HK$ 5,048
3 lots 60 HK$ 7,572
4 lots 80 HK$ 10,096
5 lots 100 HK$ 12,620
6 lots 120 HK$ 15,144
7 lots 140 HK$ 17,668
8 lots 160 HK$ 20,192
9 lots 180 HK$ 22,716
10 lots 200 HK$ 25,240
15 lots 300 HK$ 37,860
20 lots 400 HK$ 50,480
25 lots 500 HK$ 63,100
30 lots 600 HK$ 75,720
35 lots 700 HK$ 88,340
40 lots 800 HK$ 100,960
45 lots 900 HK$ 113,580
50 lots 1,000 HK$ 126,200
100 lots 2,000 HK$ 252,400
150 lots 3,000 HK$ 378,600
200 lots 4,000 HK$ 504,800
250 lots 5,000 HK$ 631,000
300 lots 6,000 HK$ 757,200
350 lots 7,000 HK$ 883,400
400 lots 8,000 HK$ 1,009,600
450 lots 9,000 HK$ 1,135,800
500 lots 10,000 HK$ 1,262,000
1,000 lots 20,000 HK$ 2,524,000
1,500 lots 30,000 HK$ 3,786,000
Pool B
Lots SubscribedShares SubscribedSubscription Amount (HKD)
2,000 lots 40,000 HK$ 5,048,000
2,500 lots 50,000 HK$ 6,310,000
3,000 lots 60,000 HK$ 7,572,000
3,500 lots 70,000 HK$ 8,834,000
4,000 lots 80,000 HK$ 10,096,000
4,500 lots 90,000 HK$ 11,358,000
5,000 lots 100,000 HK$ 12,620,000
6,000 lots 120,000 HK$ 15,144,000
7,000 lots 140,000 HK$ 17,668,000
8,000 lots 160,000 HK$ 20,192,000
8,912 lots 178,240 HK$ 22,493,888

Stock Connect Inclusion Analysis

HK Market Cap HK$ 6.37B
Analysis Result Already included in Stock Connect (both)

Valuation & Financials

Market Cap (at Offer Price)HK$ 4,541,400,000
Pre-IPO Valuation (Last Round)RMB 6,910.9 million
P/E RatioNot applicable (loss-making)
Profit/Loss StatusNet loss RMB 90.1 million
Period-End Cash BalanceRMB 182.39 million
Listing Expenses~HK$ 66,100,000
Listing Expenses / Funds Raised~14.5%
Total Pre-IPO InvestmentRMB 520 million
First Day CloseLoading...
Use of Proceeds
Approximately 74.5% will be used for the research, development and commercialization of core products; approximately 25.5% will be used to replenish working capital and for general corporate purposes.

Underwriting Syndicate

Joint Sponsors (2)
China International Capital Corporation Hong Kong Securities Limited CE AEN894 DBS ASIA CAPITAL LIMITED CE AAE430
Sponsor cum Overall Coordinator (1)
DBS ASIA CAPITAL LIMITED CE AAE430
Overall Coordinators (2)
China International Capital Corporation Hong Kong Securities Limited CE AEN894 DBS ASIA CAPITAL LIMITED CE AAE430
Joint Global Coordinators (3)
China International Capital Corporation Hong Kong Securities Limited CE AEN894 DBS ASIA CAPITAL LIMITED CE AAE430 ABCI CAPITAL LIMITED CE AWL249
Joint Bookrunners (8)
China International Capital Corporation Hong Kong Securities Limited CE AEN894 DBS ASIA CAPITAL LIMITED CE AAE430 ABCI CAPITAL LIMITED CE AWL249 Funde Securities Limited CE BHT984 CMBC SECURITIES COMPANY LIMITED CE APU820 Livermore Holdings Limited CE BJN764 Open Securities Limited CE ACS694 SPDB International Capital Limited CE BFZ375
Joint Lead Managers (9)
China International Capital Corporation Hong Kong Securities Limited CE AEN894 DBS ASIA CAPITAL LIMITED CE AAE430 ABCI Securities Company Limited CE ACX411 Funde Securities Limited CE BHT984 CMBC SECURITIES COMPANY LIMITED CE APU820 Livermore Holdings Limited CE BJN764 Open Securities Limited CE ACS694 SOUTH CHINA SECURITIES LIMITED CE AAA874 SPDB International Capital Limited CE BFZ375
Capital Market Intermediaries (10)
China International Capital Corporation Hong Kong Securities Limited CE AEN894 DBS ASIA CAPITAL LIMITED CE AAE430 ABCI CAPITAL LIMITED CE AWL249 ABCI Securities Company Limited CE ACX411 Funde Securities Limited CE BHT984 CMBC SECURITIES COMPANY LIMITED CE APU820 Livermore Holdings Limited CE BJN764 Open Securities Limited CE ACS694 SOUTH CHINA SECURITIES LIMITED CE AAA874 SPDB International Capital Limited CE BFZ375

Service Providers

RoleInstitution
Legal Advisor to Company 德恒律师事务所（香港）有限法律责任合伙
北京德恒律师事务所
Legal Advisor to Sponsors/Underwriters 欧华律师事务所
竞天公诚律师事务所
Auditor and Reporting Accountant 安永会计师事务所
Industry Advisor 灼识企业管理咨询（上海）有限公司
Compliance Advisor 迈时资本有限公司 CE BNO600
Receiving Banks 招商永隆银行有限公司
DBS BANK (HONG KONG) LIMITED
H Share Registrar 卓佳证券登记有限公司

Cornerstone Investors

This stock has no cornerstone investors.

Directors & Management

PositionChinese nameEnglish Name
Chairman / Executive Director張昊任Cheong Hou Iam
Company Secretary陳妙娉、林慧怡—
Non-Executive Director莫金玲Mo Jinling
Independent Non-Executive Director劉良鋼Liu Lianggang
Executive Director陳妙娉Chen Miaoping
Independent Non-Executive Director吳冠誠Ng Kun Seng Chris
Executive Director郭健Guo Jian
Independent Non-Executive Director馬劍鳴Ma Jianming

Major Shareholders

Major Shareholders & HoldingsThe controlling shareholder is Ms. 張昊任 and the entities controlled by her: 任陽生物科技 (10.47%), 誠真健康 (9.35%), 嘉潤同創 (7.48%), 嘉潤合創 (7.15%), 珠海美吉睿 (6.46%), 嘉潤新創 (5.61%), 欣慧潤康 (0.10%), holding approximately 46.63% of the shares in aggregate.
About this page

This page shows TH Medical-B (02697) prospectus details: offer price range, fundraise size, cornerstone investors, greenshoe, Pool A/B allocation and syndicate. For eligible IPOs it also provides a Stock Connect inclusion analysis, indicating the pathway and estimated timing for Southbound Connect admission; for A-share / US secondary listings, it additionally compares the other market's price, exchange rate and the H-share premium/discount. Data is parsed from the HKEX prospectus and related announcements. New to IPO subscription? See Hong Kong IPO Subscription 101.

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