External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Equity Bottom-Up

<ul><li>Standardizing medical imaging data is pivotal for advancing AI-driven healthcare solutions.</li><li>Current limitations in healthcare AI development stem from insufficient high-quality datasets.</li><li>China has been accelerating nationwide sharing of medical imaging data.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Standardizing medical imaging data is pivotal for advancing AI-driven healthcare solutions.Current limitations in healthcare AI development stem from insufficient high-quality datasets.China has been accelerating nationwide sharing of medical imaging data.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Rimag Group (2522 HK) - Medical Imaging Data Standardization Empowers AI Applications

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>Shares of Jiangxi Rimag Group, a medical group with focus on medical imaging in China, rose 200%+ since IPO and massively outperformed Hang Seng Index.</li>
<li>A Nanchang-based medical imaging center operator priced its IPO at HK$14.98/share and raised ~HK$183M in June. Cornerstone investors have agreed to acquire ~8M H shares.</li>
<li>I expect key cornerstone investor may sell shares after 200%+ post-IPO gains as early lock-up period will end on December 6th, 2024.</li>
</ul>


Shares of Jiangxi Rimag Group, a medical group with focus on medical imaging in China, rose 200%+ since IPO and massively outperformed Hang Seng Index.
A Nanchang-based medical imaging center operator priced its IPO at HK$14.98/share and raised ~HK$183M in June. Cornerstone investors have agreed to acquire ~8M H shares.
I expect key cornerstone investor may sell shares after 200%+ post-IPO gains as early lock-up period will end on December 6th, 2024.


Jiangxi Rimag Group Lock-Up Expiry: Cornerstone Investor May Sell Shares After 200%+ Post-IPO Gains

<ul><li>Rimag leads in the third-party medical imaging services market in China.</li><li>According to Frost &amp; Sullivan (F&amp;S), the Company was the largest medical group specialized in medical imaging in China in 2023 in terms of medical imaging centers, equipment units, registrations by practicing radiologists who registered the Company as their primary workplace, average daily screening volume, and patient fees.</li><li>With a large population, China has a rapidly expanding market for medical imaging services. According to F&amp;S, China’s medical imaging service market is expected to grow at a CAGR of 13.6% from RMB270.9bn in 2023 to RMB661.5bn in 2030E.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Rimag leads in the third-party medical imaging services market in China.According to Frost &amp; Sullivan (F&amp;S), the Company was the largest medical group specialized in medical imaging in China in 2023 in terms of medical imaging centers, equipment units, registrations by practicing radiologists who registered the Company as their primary workplace, average daily screening volume, and patient fees.With a large population, China has a rapidly expanding market for medical imaging services. According to F&amp;S, China’s medical imaging service market is expected to grow at a CAGR of 13.6% from RMB270.9bn in 2023 to RMB661.5bn in 2030E.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Rimag Group (2522 HK) - A Leading Medical Imaging Service Provider in China

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 11th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba, CMB, Pop Mart Intl, Tencent, China Mobile.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 11th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba, CMB, Pop Mart Intl, Tencent, China Mobile.


HK Connect Flows Weekly (Jul 11th): Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba, CMB

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 4th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for CCB, Innovent Biologics, SMIC, CMB, Giant Biogene, Xiaomi, Tencent, Alibaba, BOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 4th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for CCB, Innovent Biologics, SMIC, CMB, Giant Biogene, Xiaomi, Tencent, Alibaba, BOC.


HK Connect Flows Weekly (Jul 4th): CCB, Innovent Biologics, SMIC, CMB, Giant Biogene, Xiaomi

China

Jiangxi Rimag Group Co., Ltd. offers medical imaging services. The Company provides imaging center services, imaging solution services, rimag cloud services, and other services. Jiangxi Rimag Group provides its services throughout Hong Kong.

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Jiangxi Rimag Group (2522 HK)

Rimag Group (2522 HK) - Medical Imaging Data Standardization Empowers AI Applications

Standardizing medical imaging data is pivotal for advancing AI-driven healthcare solutions. Current limitations in healthcare AI development stem...

CMB International

Jiangxi Rimag Group Lock-Up Expiry: Cornerstone Investor May Sell Shares After 200%+ Post-IPO Gains

Jiangxi Rimag Group shares have massively outperformed and rose 200%+ since IPO in June. Early lock-up period will end in December for major...

Andrei Zakharov

Rimag Group (2522 HK) - A Leading Medical Imaging Service Provider in China

According to Frost & Sullivan (F&S), the Company was the largest medical group specialized in medical imaging in China in 2023 in terms of medical...

CMB International

HK Connect Flows Weekly (Jul 11th): Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba, CMB

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba,...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jul 4th): CCB, Innovent Biologics, SMIC, CMB, Giant Biogene, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for CCB, Innovent Biologics, SMIC, CMB, Giant Biogene,...

Ke Yan, CFA, FRM

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