Yade Technology Launches Sci-Tech Innovation Board Listing Journey with RMB 72 Million Capital Injection
2019On September 6, Chongqing Adtech Science&Technology Co.,Ltd. passed the IPO project approval review by a well-known securities firm. Liu Zhen, Chairman of Chongqing Adtech Science&Technology Co.,Ltd., revealed: "Chongqing Adtech Science&Technology Co.,Ltd. will soon sign the 'Tutoring Agreement' and file with the Chongqing Securities Regulatory Bureau, officially entering the tutoring period and embarking on the path to listing on the STAR Market."
One week ago, Hainan Haiyao Pharmaceutical Co., Ltd. announced that its wholly-owned subsidiary, Haiyao Grand Health Management (Beijing) Co., Ltd., had increased its capital investment in Adtech by RMB 50.02 million, subscribing for 8.2 million shares of Adtech at a price of RMB 6.1 per share.
In addition, the government-guided fund Hainan Huantai Biopharmaceutical Industry Venture Capital Fund Partnership (Limited Partnership) (hereinafter referred to as “Huantai Fund”) invested RMB 22 million of its own funds into Hainan Yunxin Medical Technology Co., Ltd., a wholly-owned subsidiary of Adtech, based on a pre-money valuation of RMB 78 million. Upon completion of the capital increase, Huantai Fund holds a 22% equity stake in Hainan Yunxin.
Adtech, established in 1999, is a key high-tech enterprise under the National Torch Program designated by the Ministry of Science and Technology of China, as well as a key enterprise within the national planning layout recognized by the National Development and Reform Commission. According to Qichacha, Adtech holds 12 patents and 157 independent intellectual property rights. The company has set up three R&D centers in Changsha, Chongqing, and Chengdu, with approximately 200 R&D personnel.
According to the official website of Adtech, as a drafting entity, Adtech participated in the formulation of the National Health Commission’s Internet Healthcare Information Standards and the Application Service Guidelines for Interconnectivity of Resident Health Records. It was awarded the title of “Chongqing Engineering Technology Research Center for Population Health Big Data” by the Chongqing Municipal Science and Technology Commission, and the title of “Chongqing Engineering Research Center for Intelligent Health and Medical Big Data” by the Chongqing Municipal Development and Reform Commission.
Liu Zhen attributes the capital’s favor to Adtech’s six transformations:
First, a shift in identity. The actual controller of Chongqing Adtech Science&Technology Co.,Ltd. will be Xinxing Cathay International Group, a Fortune 500 enterprise with a background as a central state-owned enterprise. This change will provide substantial benefits to Chongqing Adtech Science&Technology Co.,Ltd. in terms of both talent and resources.
Second, the transformation of the team. A year ago, Adtech began a major overhaul of its talent pool. Currently, the management team at Chongqing Adtech Science&Technology Co., Ltd. is primarily composed of professionals from leading medical and healthcare IT giants, boasting an impressive array of talent. The team includes PhDs, professors, senior engineers, and medical experts, all with more than ten years of industry experience.
Third, word-of-mouth dissemination. Since 2019, Adtech’s reputation has grown in the Guizhou and Chongqing markets. In particular, the Guizhou Provincial Pharmaceutical Regulatory Platform, built by Adtech, has received high praise from leaders of both the Guizhou Provincial Health Commission and the National Health Commission. The Guizhou Provincial Health Commission has organized province-wide promotion meetings and plans to roll out the platform to more than 400 hospitals across the province by year-end, establishing a leading provincial-level health and medical big data platform in China. In Chongqing, the convenient and beneficial personal health record platform developed by Adtech has already covered four districts and counties, with full citywide coverage expected by year-end. In Sichuan, Adtech is jointly developing the “Healthy Sichuan” platform with the Sichuan Provincial Health Commission, scheduled for launch in October. This platform aims to provide convenient and beneficial services to the public, including access to personal health records.
Fourth, enhancement of qualifications. First, Adtech completed the CMMI5 software maturity assessment in July (CMMI is the most authoritative certification in the international software field, with Level 5 being the highest), successfully upgrading from Level 4 to the highest Level 5. This certification demonstrates that Adtech’s capabilities in software R&D and quality management are at an internationally leading level, thereby strengthening its competitiveness in software development and cybersecurity. Second, its qualification for intelligent building systems was upgraded from Grade II to Grade I. Finally, it obtained Level 3 certification in Data Management Capability Maturity Model (DCMM), which is currently the highest level awarded in China.
Fifth, an increase in revenue. As of September 2019, Chongqing Adtech Science&Technology Co.,Ltd. had secured bids totaling RMB 480 million, with the full-year bid volume projected to exceed RMB 600 million.
Sixth, capital increase. Chongqing Adtech Science&Technology Co.,Ltd. received a capital injection of RMB 72 million, bolstering its working capital and facilitating business expansion into other regions.
In the field of smart healthcare, Adtech provides full-industry-chain products to government departments, medical institutions, and the general public: for government departments, it offers the National Health Information Platform, Pharmaceutical Supervision Platform, Traditional Chinese Medicine Supervision Platform, Health Record Management Platform, and Health Emergency Rescue Command Platform; for medical institutions, it provides Smart Hospital and Internet-based Informatics Solutions; and for the general public, it delivers Health Service Platforms.
Liu Zhen cited several examples: “The National Health Information Platform, oriented toward government agencies, leverages ‘Internet Plus’ technologies to enable cross-regional and cross-institutional health data sharing and application. Built upon the aggregation, sharing, and interaction of four major data resources—population information, basic resource information, health records, and electronic medical records—the platform supports six core business applications: public health, family planning, medical services, healthcare security, pharmaceutical supply assurance, and comprehensive management. It also facilitates two-way patient referrals and remote consultation services for healthcare institutions, as well as convenient public access to personal health records.”
“An end-to-end in-hospital visit optimization solution for healthcare institutions, dedicated to serving patients. By optimizing every stage—from appointment registration and queue management to post-consultation payment and settlement—it truly achieves the goal of ‘letting data do the running so patients don’t have to,’ thereby addressing the ‘three longs and one short’ issue in patient care (long registration times, long waiting times, long payment times, and short consultation times).”
“Yishitong Health Information Service Platform, oriented toward the public, provides convenient services such as appointment registration, patient guidance, disease prevention, maternal and child healthcare, chronic disease management, and rehabilitation care through web and mobile platforms, delivering comprehensive, convenient, efficient, and practical health services.”
As the sole representative enterprise from Chongqing’s software industry, Adtech showcased the Chongqing Municipal Population Health Information Platform in the main exhibition area of the Chongqing Pavilion at the Central Hall during the Smart China Expo. Its interconnected big data applications for healthcare, along with the collection and sharing of electronic health records (EHR) and electronic medical records (EMR), garnered significant attention.
Currently, Adtech has developed platforms such as Chongqing Yishitong, Healthy Guizhou, and Healthy Sichuan, and has established a business presence in Guangdong, Shenzhen, Tianjin, Shandong, Hunan, and other regions. For instance, it has built provincial-level health emergency command platforms in Guangdong, Shenzhen, Tianjin, and Shandong. In Hunan, its invested enterprise, Jinshengda “Air Hospital,” has collaborated with high-quality medical resources from over 20 Grade A tertiary hospitals—including China-Japan Friendship Hospital, Xiangya Hospital of Central South University, the Second Xiangya Hospital of Central South University, and Shanghai Eighth People’s Hospital—as well as more than 60 county- and city-level hospitals, to establish a telemedicine collaboration network serving grassroots medical institutions at the county and township levels.
Liu Zhen stated, “Adtech will establish a strong foothold in Southwest China and expand its business to six to eight provinces across the central and western regions. The company will provide health and medical big data platforms, internet healthcare services, and other solutions to various provinces and municipalities. Through subsequent business adjustments, Adtech will transform from a traditional IT enterprise into an internet-based health and medical enterprise. I believe that following this transformation, both our service capabilities and profitability will improve.”
In fact, in the realm of internet hospitals, Adtech has signed contracts with 22 tertiary hospitals. Among them, three internet hospitals have been launched in Sichuan Province, such as the Mianyang Central Hospital Internet Hospital. This internet hospital, with Mianyang Central Hospital as the main provider of medical and health services, relies on the provincial public medical and health service cloud platform “Healthy Sichuan” to offer the public more convenient and high-quality “Internet + Medical Health” services.
Regarding the Guizhou Provincial Pharmaceutical Supervision Platform project undertaken by Chongqing Adtech Science&Technology Co., Ltd., Liu Zhen stated, “This platform will enable real-time data extraction, dynamic supervision, and service provision for more than 400 public hospitals across Guizhou Province. Building upon the National Health Data Center, we have established real-time regulatory interfaces and leveraged a knowledge base engine to invoke business rules, thereby achieving pre-event warnings, in-process alerts, and post-event statistics for clinical practices. The pharmaceutical supervision platform also aggregates big data related to pharmaceuticals, enabling oversight of behavioral data such as clinical diagnoses, prescription practices, and drug distribution.”
Regarding the listing on the STAR Market, Liu Zhen stated that the company has already begun its preparations. “Currently, we have established a dedicated Listing Department and hired a vice president specializing in IPO-related work. In addition, we have mobilized all shareholders to prepare for the listing. Since the signing of the Tutoring Agreement, our STAR Market listing process has officially commenced.”
Meanwhile, Liu Zhen revealed: “We will launch a pre-IPO financing round of approximately RMB 200 million, with all proceeds allocated to market expansion and product research and development. During this process, existing shareholders will further increase their capital contributions, and we will also introduce new institutional investors to optimize our equity structure.”
Those interested in Adtech, please contact VCBeat’s financing assistant Xiaoyun: DongMai_Investent