New stock news | New lotus delivery listed on the Hong Kong Stock Exchange, ranked second in China's revenue from traditional Chinese medicine tablets in 2023.

According to the disclosure of the Hong Kong Stock Exchange on April 3, Sichuan Xinhehua Traditional Chinese Medicine Co., Ltd. (referred to as Xinhehua) has submitted an application to the Hong Kong Stock Exchange Main Board, with GF SEC (Hong Kong) and Bank of Agricultural and Industrial Finance as joint sponsors. The prospectus shows that Xinhehua is one of China's leading and largest suppliers of traditional Chinese medicine products. By 2023, the company ranks second in China in terms of revenue from traditional Chinese medicine products, and is one of the fastest-growing among the top five market participants, with a compound annual growth rate of 27% from 2022 to 2024. The company provides high-quality traditional Chinese medicine products to customers under the brand "Xinhehua." Since its establishment, the company's business has been mainly focused on traditional Chinese medicine products. Leveraging its experience in traditional Chinese medicine products and accumulated sales network for hospitals, clinics, and pharmacies, the company strategically expands its business to retail markets with new revenue growth opportunities. Guided by the principle of "Quality medicines are like gold," the company has established and implemented best practices for traditional Chinese medicine production and quality control, integrating artificial intelligence, big data, and Internet of Things-driven end-to-end technologies and systems. With outstanding operational capabilities, the company serves a wide range of institutional and retail customers - including hospitals and medical institutions, medical trading companies, pharmacies, pharmaceutical companies, and recently individual consumers - providing traditional herbal formulas, health products, and health management services. The company's global business covers most provinces in China, as well as Hong Kong, Taiwan, and has expanded overseas to regions with strong demand for traditional Chinese medicine such as Vietnam and Malaysia. According to Frost & Sullivan data, driven by the increasing awareness of health and healthcare, as well as the rise of digitization and artificial intelligence applications, the traditional Chinese medicine market in China reached 451.6 billion yuan in 2023 and is expected to reach 599.3 billion yuan by 2030. As the most widely used form of traditional Chinese medicine, traditional Chinese medicine products had a huge market of 278.8 billion yuan in 2023, becoming the fastest-growing segment in the pharmaceutical industry that year, achieving 14.6% revenue growth and 22.9% profit growth. At the same time, due to the global recognition of the preventive healthcare value of traditional Chinese medicine, the demand for traditional Chinese herbs for export has surged in overseas markets. Financially, in the fiscal years 2022, 2023, and 2024, Xinhehua's revenue was approximately 780 million yuan, 1.146 billion yuan, and 1.249 billion yuan, respectively; during the same periods, the net comprehensive income for the year was 77.395 million yuan, 104 million yuan, and 89.091 million yuan, respectively.