Recently, the Hong Kong Stock Exchange (HKEX) official website showed that Health 160 International Limited (“Health 160” for short) has passed the HKEX listing hearing and is about to go public, with Shenwan Hongyuan Hong Kong and Zero2IPO Capital acting as joint sponsors.FigureSource: HKEX website
The prospectus shows that Health 160 is an experienced wholesale distributor of medical and health products in China and a leading provider of comprehensive digital medical services. It offers customers a variety of medical and health products as well as comprehensive digital healthcare solutions. Through both wholesale and retail models, Health 160 provides a range of high-quality medical and health products to meet the diverse needs of its customers.In addition, Health160 also provides digital medical and health solutions through its online medical and health service platform - the Health160 platform, empowering all participating parties across the entire medical and health industry chain (mainly including enterprise clients, healthcare institutions, medical staff, individual users, and third-party merchants).FigureImage Source:Health 160 Prospectus ((Same as below)
According to Frost & Sullivan, as of 2024, ranked by the number of appointments made through the platform, as of the end of 2024, ranked by the number of cooperating hospitals, as of the end of 2024, ranked by the number of cooperating tertiary hospitals, and as of the end of 2024, ranked by the number of medical staff connected to the platform,Health160 Platform is the largest digital medical and health service platform in China's digital medical and health comprehensive service industry in 2024.。Health160 Business StatusDuring the performance record period, the sales of pharmaceutical and health products by Health 160 (especially through the wholesale model) made a significant contribution to revenue, consistently representing the primary source of income. In 2022, 2023, and 2024, as well as for the three months ended March 31, 2024, and March 31, 2025, revenue generated from the sales of pharmaceutical and health products accounted for 73.2%, 71.7%, 68.7%, 66.6%, and 66.9% of total revenue, respectively.The prospectus shows that in 2022, 2023, 2024, and the first three months of 2025, Health 160's revenues were RMB 526 million, RMB 629 million, RMB 621 million, and RMB 100 million respectively, with corresponding net losses of RMB 120 million, RMB 106 million, RMB 108 million, and RMB 17 million.Health160 Equity StructureThe prospectus shows that Mr. Luo Ningzheng holds 33.99% of the shares through Luo Holdings Limited, making him the controlling shareholder. He can also exercise the voting rights attached to Ming Holdings Limited, which account for 3.87%. His resume is as follows:Luo Ningzheng, 51, Founder, Executive Director, Chairman and Chief Executive Officer of Health 160, was appointed as a director of Health 160 on January 31, 2022, and re-appointed as an executive director on October 20, 2023. He is primarily responsible for formulating overall strategies, overseeing the operations and management of the Group, and supervising the Group’s financial management, internal control, and compliance with the assistance of the accounting team (including Mr. Tang Shihua).Mr. Luo has over 25 years of industry experience. Mr. Luo possesses extensive knowledge in the field where Health 160 operates and has accumulated rich management experience through managing the group and developing the company’s business. Before founding the group in February 2005, Mr. Luo taught at Guilin Institute of Technology (now known as Guilin University of Technology) from July 1996 to April 1998. From December 1998 to March 2011, Mr. Luo provided computer engineering services at Shenzhen Hospital of Integrated Traditional Chinese and Western Medicine, and from July 2005 to March 2011, he concurrently served as the Deputy Director of the Information and Health Education Department at the same hospital. In February 2005, Mr. Luo established Shenzhen Ningyuan Technology Co., Ltd., and has since been serving as its Chairman and General Manager.Mr. Luo received his Bachelor's degree in Computer Engineering from the National University of Defense Technology in July 1996. 
