Tong Ren Tang healthcare unit passes Hong Kong listing hearing

Beijing Tong Ren Tang Healthcare Investment, a traditional Chinese medicine service provider under Tong Ren Tang Group, has passed the listing hearing in Hong Kong, moving closer to becoming the group's fourth listed entity.

The group, a traditional Chinese medicine leader with a history dating to 1669, already has three publicly traded units, including Beijing Tongrentang listed in Shanghai since 1997.

Two other subsidiaries, Tong Ren Tang Technologies (1666) and Beijing Tong Ren Tang Chinese Medicine (3613), are traded in Hong Kong.

The healthcare unit reported revenue of 477 million yuan (HK$521.28 million) in the first five months, up 6.1 percent year-on-year, while net profit surged 146 percent to 10.04 million yuan during the period.  

According to its files, the newcomer primarily focuses on TCM medical services. It currently operates 12 self-owned medical institutions and one internet hospital, while also managing 10 offline medical institutions.