Aier Eye Hospital is preparing for a listing in Hong Kong, expected to become the first "A+H" ophthalmology hospital

Recently, there have been market rumors that Aier Eye Hospital is planning to list in Hong Kong. In response, Aier Eye Hospital has taken a relatively cautious stance, stating on the afternoon of March 17 that significant information should be based on the company's announcements. However, related preparatory work is already underway. On the same day, a source close to Aier Eye Hospital confirmed to Xinfeng that the news is true, and Aier Eye Hospital is indeed preparing for a listing in Hong Kong. If this move goes ahead, Aier Eye Hospital is expected to become the first ophthalmology hospital to be listed in both A-share and H-share markets. In fact, speculation about Aier Eye Hospital's listing in Hong Kong has been ongoing since the "A+H" trend emerged in the capital market in 2025. In response, Aier Eye Hospital's chairman Chen Bang had once denied in May 2025, stating that there were no plans for a Hong Kong listing, and pointed out: "Currently, the Hong Kong listing is very popular, but we have no plans for H-shares. On one hand, our cash flow is good, our fundraising capability is strong, we have sufficient and low-interest bank loan credit, and overseas investments are also smooth; on the other hand, we currently have no desirable overseas acquisition targets, and we will consider comprehensively when the time is right in the future." Looking at it now, the timing may have matured, possibly due to changes in Aier Eye Hospital's fundamentals and the macro environment. Affected by factors such as domestic medical insurance centralized procurement, Aier Eye Hospital's performance has been under pressure in recent years. In the first three quarters of 2025, revenue was 17.484 billion yuan, a year-on-year increase of 7.25%, while net profit attributable to the parent company was 3.115 billion yuan, a year-on-year decline of 9.76%. In this context, establishing an international capital platform in Hong Kong is undoubtedly a key step for Aier Eye Hospital to accelerate its expansion into overseas markets. Currently, Aier Eye Hospital's international footprint has extended to parts of Europe, Southeast Asia, and the United States, with overseas business revenue accounting for about 10%. In a recent conference call, Aier Eye Hospital's management stated that they will adapt to the market environment, medical systems, and regulatory requirements of different countries and regions, steadily advancing with a principle of balancing proactive and cautious development, and continuously improving their overseas layout through internal and external synergy and dual empowerment. Now, with the initiation of the Hong Kong listing, whether Aier Eye Hospital can leverage the international capital market to further deepen its global mergers and acquisitions and layout, thereby opening up broader performance growth space, has become a focal point of close attention from all market participants