bearish
Concord Healthcare Group (CHG HK) Pre-IPO: Accumulated Loss and Cash Burn Cloud Growth Prospects
397 Views27 Jul 2022 22:35
SUMMARY
- Concord Healthcare Group (CHG HK), the second largest private oncology healthcare company in China, has submitted application proof for an IPO on the HK Stock Exchange in May 2022.
- The company has an accumulated loss of RMB1.7 billion during the last three years, with current net debt-to-capital ratio of 170.1%. Its finance cost account for 92.5% of total revenue.
- Concord has a cash balance of just RMB136 million, which makes it hard to grab the growth opportunities in China’s capital-intensive oncology healthcare services segment.
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