Aier Eye Hospital is preparing for a Hong Kong listing and is expected to become the first "A+H" ophthalmology hospital.

Recently, there have been market reports that Aier Eye Hospital is planning to list in Hong Kong.

In response, Aier Eye Hospital has taken a cautious stance, stating on the afternoon of March 17 that major information should be based on the company’s official announcements.

However, preparations are already underway.

On the same day, information close to Aier Eye Hospital confirmed to Xinfeng that the news is true, and Aier Eye Hospital is indeed preparing for a Hong Kong listing.

If this move goes through, Aier Eye Hospital is expected to become the first ophthalmology hospital to be listed in both the A-share and H-share markets.

In fact, as early as 2025, when the capital markets sparked a wave of “A+H” listings, speculation about Aier Eye Hospital’s Hong Kong listing had been ongoing.

Regarding this, in May 2025, Chairman Chen Bang of Aier Eye Hospital once denied the plan and stated that there were no current plans to list in Hong Kong, pointing out: “Listing in Hong Kong is very popular right now, but we have no plans for H-shares at the moment. On one hand, our cash flow is good, and our financing ability is strong, with sufficient low-interest bank loans and smooth overseas investments; on the other hand, we currently lack suitable overseas acquisition targets. We will consider it when the time is right in the future.”

Looking at the present, the timing may have now matured, possibly due to changes in Aier Eye Hospital’s fundamentals and the macro environment.

Affected by factors such as domestic medical insurance procurement, Aier Eye Hospital’s performance has been under pressure in recent years. In the first three quarters of 2025, revenue reached 17.484 billion yuan, a year-on-year increase of 7.25%, while net profit attributable to the parent was 3.115 billion yuan, down 9.76% year-on-year.

Under this logic, building an international capital platform in Hong Kong is undoubtedly a key step for Aier Eye Hospital to accelerate its overseas expansion.

Currently, Aier Eye Hospital’s international footprint extends to parts of Europe, Southeast Asia, and the United States, with overseas revenue accounting for about 10%.

In a recent conference call, Aier Eye Hospital management stated that they will adapt to the market environment, healthcare systems, and regulatory requirements of different countries and regions, proceeding steadily and prudently, adhering to a principle of active yet cautious development. Through internal and external coordination and bidirectional empowerment, they aim to continuously improve their overseas layout.

Now, with the initiation of the Hong Kong listing, whether Aier Eye Hospital can leverage the international capital market to further deepen its global mergers, acquisitions, and layout, thereby opening broader growth opportunities, has become a key focus of market attention.

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