Cofoe Medical Technology Co., Ltd. (Cofoe Medical Technology Co., Ltd., 01187.HK) has launched its Hong Kong IPO. The subscription period runs from April 27 to April 30. The company plans to globally offer 27,000,000 H shares. The offer price is HKD 39.33 per share, with a board lot size of 100 shares and a minimum subscription amount of approximately HKD 3,972.67. The shares are expected to be listed on the Main Board of the Hong Kong Stock Exchange on May 6. Huatai International and BNP Paribas are acting as joint sponsors.

Cofoe Medical: China’s Second-Largest Home Medical Device Company

Offering structure: Hong Kong public offering accounts for approximately 10% (2,700,000 shares), while international placing accounts for approximately 90% (24,300,000 shares).

Offer price: HKD 39.33 per share; board lot of 100 shares; minimum subscription amount of approximately HKD 3,972.67.

Subscription period: April 27–30 (final pricing date expected no later than May 4).

Listing date: May 6.

Joint sponsors: Huatai International and BNP Paribas.

Company Overview

Since its establishment in 2007, Cofoe Medical has focused on the home medical device industry. Leveraging an integrated business model spanning R&D, manufacturing, and sales across the value chain, the company provides a portfolio of clinically validated, high-quality products, covering five core segments: rehabilitation aids, health monitoring, respiratory support, medical care, and traditional Chinese medicine therapies.According to Frost & Sullivan, based on domestic revenue in 2024, Cofoe Medical ranked second among all home medical device companies in China, with a market share of 2.1%. As of the end of 2025, the company’s product portfolio covered over 200 product categories and tens of thousands of SKUs, with a total of 701 patents.

Financial Information

According to the prospectus, Cofoe Medical recorded revenues of approximately RMB 2.854 billion, RMB 2.983 billion, and RMB 3.387 billion for 2023, 2024, and 2025, respectively. Gross profit for the same periods was approximately RMB 1.173 billion, RMB 1.509 billion, and RMB 1.752 billion, while net profit was approximately RMB 253 million, RMB 312 million, and RMB 370 million, representing a year-on-year increase of 19.2% in 2025.Based on the offer price of HKD 39.33 per share, the company expects net proceeds from the global offering to be approximately HKD 1.007 billion. The proceeds are intended to be used for global expansion (approximately 30.0%), ongoing product R&D and technological innovation (approximately 30.0%), expansion of domestic sales channels and distribution networks (approximately 20.0%), brand promotion and marketing activities (approximately 10.0%), and working capital and general corporate purposes (approximately 10.0%).

uSMART launches “HK IPO Fee-Waiver Offer” – subscribe to new shares at zero cost

Margin subscription: 0 % interest, leverage up to 10×

Cash subscription: HK$0 handling fee

Grey-market trading supported

* 0 % interest applies to margin subscription amounts of HK$20 million or below.

^ All handling fees are waived for cash subscriptions.

This promotion is effective from 5 December 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

How to Subscribe for Cofoe Medical via uSMART HK

The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to public offerings. After logging into the app, tap "Trade" at the bottom-right, go to "IPO Subscription," select Cofoe Medical, tap "Public Offer," enter your subscription quantity, and submit your order.

(Image source: uSMART HK App)