BRIEF: Xunfei Healthcare rises 8% in Hong Kong trading debut  

2506.HK

Shares of medical solutions provider Xunfei Healthcare Technology Co. Ltd. (2506.HK) opened up 8.4% in their Hong Kong trading debut on Monday, after the company priced the shares at HK$82.80 apiece.

Xunfei said it sold approximately 7.04 million shares, which were available to buyers in lots of 500. It raised HK$580 million ($75 million) from the listing. The Hong Kong portion of the offering was oversubscribed by 2.7 times, while the international portion was slightly oversubscribed by 0.1 times.

The company develops artificial intelligence technology that supports its medical products and solutions. Its revenue rose 17% year-on-year to 230 million yuan ($31.5 million) in the first half of this year, as its loss widened 33% to 130 million yuan. The company said it expected to continue losing money for the rest of this year as it spends heavily on R&D and sales.

By Lau Chi Hang

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