China's Jinrong Holdings Seeks New York IPO

(CapitalWatch, Nov. 8, New York) Another obscure Chinese health management firm Jinrong has filed for an initial public offering in New York.

Jinrong Holdings (Hainan) Group Co. was established on March 19, 2021. It has invested in and opened a number of health management hospitals, mainly for the prevention of cardiovascular diseases, heart attack, cerebral infarction, hemiplegia, for sub-healthy people, to build a big health international brand.

The company believes in "treating the disease before it happens." Jinrong aims to solve chronic diseases and prevent cardiovascular and cerebrovascular diseases in advance through non-pharmacological treatment methods. 

To grow its business, Jinrong cooperates with private hospitals and connects with doctors throughout the nation. The company provides health consultations to customers, selling special treatment services. 

According to the prospectus filed with the U.S. SEC, in the fiscal year 2021 and the first half of 2022, the revenue of Jinrong Health was 526,700 yuan and 15.3 million yuan, respectively, and the corresponding net loss was 177,100 yuan and 5.04 million yuan, respectively.

The controlling shareholder Zhaoyong Wu holds 85% of equity through Ordos Jinrong Enterprise Management Consulting Center (Limited Partnership), and Gao Ling Capital Hong Kong Limited holds 5% equity.

Upon IPO, the company intends to use the net proceeds for purchasing equipment, and further developing the sales system. Its main services are subhealth testing and assessment, ozone autologous blood transfusion therapy, brain-awakening and enlightening technique, and dual hemodialysis.

Jinrong hopes to get listed on the Nasdaq Capital Market under the symbol "JR."