Tong Ren Tang Healthcare Launches IPO Patrons Serves as Joint Bookrunner and Joint Lead Manager

Beijing Tong Ren Tang Healthcare Investment Co., Ltd. (hereinafter referred to as "Tong Ren Tang Healthcare"), stock code 2667.HK, has officially launched its public offering from March 20 to March 25, 2026. Patronsis serving as the Joint Bookrunner and Joint Lead Manager for this IPO. 

According to Patrons, the IPO plans to globally offer approximately 108 million H-shares, with an offer price range of HK$7.30 to HK$8.30 per share. The maximum net proceeds are expected to be approximately HK$900 million. The company is scheduled to list on the Main Board of the Hong Kong Stock Exchange on March 30, 2026.

Core Business & StrategyAs disclosed in the prospectus, Tong Ren Tang Healthcare is the flagship platform under the 350-year-old "Tong Ren Tang" brand, focusing on integrated medical and eldercare services with Traditional Chinese Medicine (TCM) characteristics. 

The company has established a "trinity" layout:

• TCM Medical Services: Operates multiple TCM hospitals and chain clinics, with a deep presence in the Beijing-Tianjin-Hebei and Yangtze River Delta regions.

• Medical & Healthcare Management: Provides strategic planning and guidance for medical institutions to optimize internal operations and control systems.

• Health Products: Sells Tong Ren Tang branded and self-developed Chinese wellness products, including flagship items like Angong Niuhuang Wan (Natural) and Niuhuang Qingxin Wan.

Market Position Based on 2024 total revenue from TCM medical services, Tong Ren Tang Healthcare ranks second in the non-public TCM hospital medical service industry with a 0.2% market share. Leveraging its centuries of brand heritage, it has become one of China’s largest private TCM healthcare groups, featuring a high-standard talent echelon and a standardized chain operation system.

The Patrons team has been deeply involved in the listing process as Joint Bookrunner and Joint Lead Manager. Utilizing profound insights into the healthcare sector and extensive cross-border capital market experience, Patrons assisted Tong Ren Tang Healthcare in precisely connecting with international investors to ensure the smooth progress of the project.

If there is any inconsistency or ambiguity between these two versions, the Chinese version shall prevail.