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健倍苗苗(保健)
JBM (Healthcare)
COMPANY PROFILE

JBM (Healthcare) is a Hong Kong-based company that markets and distributes branded healthcare products with product footprint across Greater China, Southeast Asia and other select countries. Its products divided into two categories which include consumer healthcare products and proprietary Chinese medicines. As of March 31, 2020, its healthcare products consisted more than 1,700 products (including more than 700 single and combo formula CCMG products).

The Group operate a vertically integrated business encompassing brand management and marketing, sourcing and representation of third-party brand products, development and manufacturing of own brand products, and sales and distribution. As at March 31, 2020, it carried 11 principal third-party brands, the majority of which were sourced from Europe, including consumer healthcare products imported from reputable European GMP-accredited, SO-certified or SGS-certified manufacturers.

It adopts a hybrid of sales and distribution models tailored for different products and geographic markets. In Hong Kong, it sells its products both directly and indirectly (through its Hong Kong Distributor and its trading company customers) to major modern trade chain stores, registered pharmacies and drug stores, as well as corporate clients, hospitals and clinics, and end consumers (through online platforms). In addition, it sells CCMG products to more than 3,000 Chinese medicine practitioners, and from time to time, to non-profit organizations. Outside of Hong Kong, it sells selected products to Mainaland China, Macau, Taiwan, and select countries in Southeast Asia, Europe, North America and the Caribbean Islands, primarily through distributorship and wholesaling arrangements.

Apart from its own brand CCMG products which are outsourced to GMP-accredited third-party manufacturers for production, it manufactures most of the products under its principal own brands in-house. Its manufacturing facilities are located in Hong Kong and comprise a PIC/S GMP-accredited manufacturing facility for the production of its Ho Chai Kung branded products; two GMP-accredited manufacturing facilities mainly for the production of Po Chai Pills and Flying Eagle Woodlok Oil; and other manufacturing facilities primarily used for the production of certain other proprietary Chinese medicines.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureHealth Care
Websitewww.jbmhealthcare.com.hk
Board Lot2,000
Registrar & Transfer OfficeTricor Investor Services
PUBLIC OFFERING
No. of Offer Shares44.69m shares
No. of International Offer Shares0.00m shares
No. of HK Offer Shares0.00m shares
Offer Price$1.20
Nominal ValueHK$ 0.01 each
Stock Code2161
Sole Sponsor and Sole BookrunnerChina Galaxy International Securities (Hong Kong) Co., Limited
Joint Lead ManagersChina Galaxy International Securities (Hong Kong) Co., Limited, Cinda International Capital Limited, Eddid Securities and Futures Limited, Fosun Hani Securities Limited, HeungKong Securities Limited, Maxa Capital Limited, Southwest Securities (HK) Brokerage Limited, TUS Corporate Finance Limited
TIME TABLE
Application PeriodJan 26 (Tue) - Noon, Jan 29 (Fri)
Result Announcement DateOn or Before Feb 4 (Thu)
Dispatch of Shares and Refund ChequesOn or Before Feb 4 (Thu)
Dealings in Shares commence onFeb 5, 2021. (Fri)
DIRECTORS
ExecutiveWong Yat Wai Patrick, Chu Ka Wing
Non-ExecutiveSum Kwong Yip Derek (Chairman), Yim Chun Leung, Yeung Kwok Chun Harry
Independent Non-ExecutiveChan Kam Chiu Simon, Luk Ting Lung Alan, Lau Shut Lee Tony
MAJOR SHAREHOLDERS
Jacobson Pharma53.74%
Director Sum Kwong Yip Derek15.93%
New Heritage Healthcare5.17%
INCOME STATEMENT (HK$'000)
(Year ended Mar 31)
2020 *20192018
Revenue118,770381,542307,515
Gross Profit58,413190,179169,685
Pre-Taxed Profit11,43953,96669,849
Attributable Profit for the period4,27941,02252,459
* For the four months ended July 31, 2020.
OFFER STATISTICS (HK$)
Offer Price$1.20
Capitalization$1,072m
Unaudited pro forma adj NAV / share$0.01
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $1.20, the net proceeds raised would be HK$10.6m, of which:
* $5.0m (47.2%) use to fund the portfolio development and brand management of its proprietary Chinese medicines ;
* $4.6m (43.4%) use to fund its payment for obtaining additional distribution rights from third-party brand owners ;
* the balance of $1.0m (9.4%) as additional working capital.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
00897WAI YUEN TONGunchange0.3300.0000.000%
02161JBM HEALTHCAREdown1.240-0.020-1.587%
02633JACOBSON PHARMAdown0.940-0.010-1.053%
03390TYCOON GROUPup1.8000.1005.882%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 13/04/2021 17:59
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