Chinese Cosmetic Surgery Chain Evercare Files for Hong Kong IPO
Liao Shumin
DATE:  Aug 05 2021
/ SOURCE:  Yicai
Chinese Cosmetic Surgery Chain Evercare Files for Hong Kong IPO Chinese Cosmetic Surgery Chain Evercare Files for Hong Kong IPO

(Yicai Global) Aug. 5 -- Beijing Evercare Medical Technology Group, China’s fourth largest cosmetic plastic surgery company and the biggest in northern China, has applied to go public on the Hong Kong stock exchange, the bourse announced on Aug. 3.

Evercare runs nine cosmetic surgery practices in five cities in northern China. It has been growing at a compound annual growth rate of 10.8 percent since 2018. Last year the firm logged profit of CNY32.2 million (USD5 million) and revenue of CNY811 million (USD125.5 million).

Non-surgical cosmetic procedures make up the bulk of its business, accounting for 76.7 percent of its revenue in the first quarter, the highest among Chinese private medical beauty chains. Investors include Warburg Pincus, Joy Capital and CDH Investments.

China is the second biggest cosmetic surgery market in the world after the US, according to US market research firm Frost & Sullivan. The market is expected to grow at a compound annual rate of 19.7 percent over the next five years to reach CNY278.1 billion (USD43 billion) in 2025.

Editor: Kim Taylor

Follow Yicai Global on
Keywords:   Beijing Evercare Medical Technology Group