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2026 IPO bonanza! Over 90% of new stocks rose on their debut
牛牛新股君
joined discussion · Feb 6 08:06

IPO Pricing | Zorya Healthcare went public today, with over 2700 times subscription. The stock was priced at 59.9 Hong Kong dollars per share, and the pre-market trading showed a profit of more than 1700 Hong Kong dollars per lot.

Futu News reported on February 6 that $DISTINCT HEALTH (02677.HK)$ the allotment results were announced, with the share price set at HKD 59.9. A total of 4.75 million shares were issued, with each lot consisting of 50 shares, and it officially listed today.
On the previous trading day, Zhuozheng Medical closed up 57.01% in the grey market at HKD 94.05 per share, with each lot containing 50 shares. Excluding handling fees, one lot earned a profit of HKD 1,707.5.
During the public offering phase, Zhuozheng Medical was subscribed 2,730.73 times over. The final number of shares offered to the public amounted to 475,000 shares, representing approximately 10% of the total shares offered. A total of about 147,800 valid applications were received, with around 9,500 processed applications. The approximate percentage of shares allocated via a single lot application relative to the total applied shares was 1%.
In addition, during the international placement phase, Just Medical received 5.79 times subscription, with the final number of international placement shares at 4.275 million shares, accounting for 90% of the total shares offered. Futu Information has compiled the relevant data in the table below:
Futu News reported on February 6 that $DISTINCT HEALTH (02677.HK)$ the allotment results were announced, with the share price set at HKD 59.9. A total of 4.75 million shares were issued, with each lot consisting of 50 shares, and it officially listed today. On the previous trading day, Zhuozheng Medical closed up 57.01% in the grey market at HKD 94.05 per share, with each lot containing 50 shares. Excluding handling fees, one lot earned a profit of HKD 1,707.5. During the public offering phase, Zhuozheng Medical was subscribed 2,730.73 times over. The final number of shares offered to the public amounted to 475,000 shares, representing approximately 10% of the total shares offered. A total of about 147,800 valid applications were received, with around 9,500 processed applications. The approximate percentage of shares allocated via a single lot application relative to the total applied shares was 1%. In addition, during the international placement phase, Zhuozheng Medical received 5.79 times subscription. The final number of shares under the international offering was 4.275 million shares, equivalent to 90% of the total shares being offered. Futu News has compiled the relevant data in the following table: Company Overview Zhuozheng Medical is a private healthcare service provider in China, strategically focused on serving the mid-to-high-end medical services market. Their target demographic consists of affluent individuals with strong purchasing power and a preference for more personalized care. Guided by a whole-person approach to medicine, the company has adopted a family healthcare model, integrating physical and online medical services. Leveraging specialties such as pediatrics, dentistry, ophthalmology, dermatology, ENT (ear, nose, and throat) and surgery, gynecology, and internal medicine...
Futu News reported on February 6 that $DISTINCT HEALTH (02677.HK)$ the allotment results were announced, with the share price set at HKD 59.9. A total of 4.75 million shares were issued, with each lot consisting of 50 shares, and it officially listed today. On the previous trading day, Zhuozheng Medical closed up 57.01% in the grey market at HKD 94.05 per share, with each lot containing 50 shares. Excluding handling fees, one lot earned a profit of HKD 1,707.5. During the public offering phase, Zhuozheng Medical was subscribed 2,730.73 times over. The final number of shares offered to the public amounted to 475,000 shares, representing approximately 10% of the total shares offered. A total of about 147,800 valid applications were received, with around 9,500 processed applications. The approximate percentage of shares allocated via a single lot application relative to the total applied shares was 1%. In addition, during the international placement phase, Zhuozheng Medical received 5.79 times subscription. The final number of shares under the international offering was 4.275 million shares, equivalent to 90% of the total shares being offered. Futu News has compiled the relevant data in the following table: Company Overview Zhuozheng Medical is a private healthcare service provider in China, strategically focused on serving the mid-to-high-end medical services market. Their target demographic consists of affluent individuals with strong purchasing power and a preference for more personalized care. Guided by a whole-person approach to medicine, the company has adopted a family healthcare model, integrating physical and online medical services. Leveraging specialties such as pediatrics, dentistry, ophthalmology, dermatology, ENT (ear, nose, and throat) and surgery, gynecology, and internal medicine...
Futu News reported on February 6 that $DISTINCT HEALTH (02677.HK)$ the allotment results were announced, with the share price set at HKD 59.9. A total of 4.75 million shares were issued, with each lot consisting of 50 shares, and it officially listed today. On the previous trading day, Zhuozheng Medical closed up 57.01% in the grey market at HKD 94.05 per share, with each lot containing 50 shares. Excluding handling fees, one lot earned a profit of HKD 1,707.5. During the public offering phase, Zhuozheng Medical was subscribed 2,730.73 times over. The final number of shares offered to the public amounted to 475,000 shares, representing approximately 10% of the total shares offered. A total of about 147,800 valid applications were received, with around 9,500 processed applications. The approximate percentage of shares allocated via a single lot application relative to the total applied shares was 1%. In addition, during the international placement phase, Zhuozheng Medical received 5.79 times subscription. The final number of shares under the international offering was 4.275 million shares, equivalent to 90% of the total shares being offered. Futu News has compiled the relevant data in the following table: Company Overview Zhuozheng Medical is a private healthcare service provider in China, strategically focused on serving the mid-to-high-end medical services market. Their target demographic consists of affluent individuals with strong purchasing power and a preference for more personalized care. Guided by a whole-person approach to medicine, the company has adopted a family healthcare model, integrating physical and online medical services. Leveraging specialties such as pediatrics, dentistry, ophthalmology, dermatology, ENT (ear, nose, and throat) and surgery, gynecology, and internal medicine...
Company Overview
TrueMed is a private healthcare provider in China, strategically focused on serving the premium healthcare market. Its target demographic includes affluent individuals with strong purchasing power who prefer personalized care. Guided by a holistic medical approach, the company has adopted a family healthcare model that integrates physical and online medical services. Through close collaboration between specialists in pediatrics, dentistry, ophthalmology, dermatology, otolaryngology, surgery, gynecology, and internal medicine, the company is able to meet the diverse medical needs of patients and their families, thereby continuously enhancing patient satisfaction and creating opportunities for cross-department referrals.
Source: Prospectus
Source: Prospectus
The company's leading market position is attributed to its patient-centered principle and its corporate culture of returning to the essence of healthcare. Guided by evidence-based medicine principles, the company strives to avoid unnecessary medical interventions while prioritizing patient welfare. As of the fiscal years ended December 31, 2022, 2023, and 2024, as well as the eight months ended August 31, 2025, the company's patient retention rates were 75.7%, 78.2%, 80.0%, and 82.7%, respectively.
TrueMed focuses on leveraging advanced artificial intelligence technology to drive innovation in healthcare delivery and operational efficiency. The company's patient-first philosophy is supported by a high-quality and dynamic medical team, as well as an integrated care model combining its nationwide online medical platform and offline facilities, giving the company an edge to seize emerging opportunities. Through strategic investments in digital infrastructure and key partners, TrueMed is committed to improving patient care and promoting sustainable growth, solidifying its competitive position in the ever-evolving healthcare industry.
Financial Overview
During the performance record period, TrueMed achieved strong revenue growth. The company’s revenue mainly comes from providing medical services, including its physical medical services, online medical services, membership programs, and out-of-hospital medical services. In 2022, 2023, and 2024, as well as for the eight months ended August 31, 2024, and August 31, 2025, the company’s revenues were RMB 473.2 million, RMB 690.4 million, RMB 958.6 million, RMB 614.8 million, and RMB 695.7 million, respectively.
In 2022, 2023, and 2024, as well as for the eight months ended August 31, 2024, and August 31, 2025, TrueMed’s gross profits were RMB 44.0 million, RMB 133.5 million, RMB 226.0 million, RMB 152.4 million, and RMB 167.3 million, respectively. For the same periods, the company’s gross profit margins were 9.3%, 19.3%, 23.6%, 24.8%, and 24.0%, respectively.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, Just Medical expects to raise approximately HKD 209 million from the global offering (based on an offer price of HKD 59.9). According to the prospectus, Just Medical plans to allocate the proceeds from the global offering for the following purposes:
Approximately 35% will be used to build a talent pool specialized in medical artificial intelligence applications, establish strategic cooperation with leading research institutions and companies, and procure external resources, while the internal information and data technology department enhances the company’s IT systems, deploying advanced AI technologies to revolutionize healthcare services and improve operational efficiency; around 30% will be used to upgrade existing medical service facilities and establish new ones to deepen penetration and reach a broader target patient base; about 25% will be allocated towards acquiring well-performing medical service providers in first-tier and emerging cities when appropriate opportunities arise; and roughly 10% will serve as working capital and for other general corporate purposes.
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Futu News reported on February 6 that $DISTINCT HEALTH (02677.HK)$ the allotment results were announced, with the share price set at HKD 59.9. A total of 4.75 million shares were issued, with each lot consisting of 50 shares, and it officially listed today. On the previous trading day, Zhuozheng Medical closed up 57.01% in the grey market at HKD 94.05 per share, with each lot containing 50 shares. Excluding handling fees, one lot earned a profit of HKD 1,707.5. During the public offering phase, Zhuozheng Medical was subscribed 2,730.73 times over. The final number of shares offered to the public amounted to 475,000 shares, representing approximately 10% of the total shares offered. A total of about 147,800 valid applications were received, with around 9,500 processed applications. The approximate percentage of shares allocated via a single lot application relative to the total applied shares was 1%. In addition, during the international placement phase, Zhuozheng Medical received 5.79 times subscription. The final number of shares under the international offering was 4.275 million shares, equivalent to 90% of the total shares being offered. Futu News has compiled the relevant data in the following table: Company Overview Zhuozheng Medical is a private healthcare service provider in China, strategically focused on serving the mid-to-high-end medical services market. Their target demographic consists of affluent individuals with strong purchasing power and a preference for more personalized care. Guided by a whole-person approach to medicine, the company has adopted a family healthcare model, integrating physical and online medical services. Leveraging specialties such as pediatrics, dentistry, ophthalmology, dermatology, ENT (ear, nose, and throat) and surgery, gynecology, and internal medicine...
Editor/Joe
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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