The China Securities Regulatory Commission (CSRC) has issued supplementary information requests for overseas listings. Its international department has asked 14 companies to provide additional materials. Among them, Lianchi Hospital Group Co., Ltd. has been requested to elaborate on its digital products, including websites, apps, and mini-programs, detailing the scale of user information collected and stored, data usage practices, and whether it involves providing personal user information to third parties.
According to a filing with the Hong Kong Stock Exchange on January 13, Lianchi Hospital Group submitted an application for a main board listing, with China Galaxy International as its sole sponsor.
Specifically, the CSRC has asked Lianchi Hospital to supplement explanations on the following points, requiring legal counsel to verify and provide a clear legal opinion: 1. Provide details on the company's developed and operated digital products (websites, apps, mini-programs), the scale of user information collected and stored, data collection and usage practices, whether it involves providing personal user information to third parties, and arrangements or measures for personal information protection and data security before and after the listing. 2. Provide specifics on the use of raised funds, including the intended allocation ratios and amounts.
According to its prospectus, Lianchi Hospital is a specialized medical group in China. As of September 30, 2025, the group operated five hospitals and one elderly care facility under a unified management structure. Adhering to a "patient-first" core value and implementing a "patient-centered care" management model, the company has established the well-known "Lianchi Medical" brand, featuring distinctive service models such as painless management, enhanced recovery after surgery (ERAS), integrated medical-nursing-rehabilitation-anesthesia care, and unattended nursing.
Data from Frost & Sullivan indicates that Lianchi Hospital has become a highly influential medical group in China. Specifically, its Zibo Lianchi Orthopedic Hospital ranked first in Shandong province and third nationally in terms of volume of private hospital knee-preservation surgeries in 2024. Furthermore, its Chongqing Great Wall Orthopedic Hospital ranked first among private orthopedic specialty hospitals in Southwest China by revenue in 2024.
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