Chinese medicine product distributor Henghong Technology (HCPC.US) raised the scale of its IPO to raise US$33 million

Zhitong Finance App learned that Henghong Technology (HCPC.US), a Chinese medicine product distributor headquartered in China, increased the proposed transaction scale for its upcoming IPO on Monday. The company, which is headquartered in Chengmai County, China, currently plans to issue 5 million shares at a price of 6 to 7 US dollars each, to raise $33 million. Previously, the company applied to issue 2 million shares at a price of $4 to $6 per share. Based on the midpoint of the revised price range, Henghong Technology will raise 225% more capital than previously anticipated, and the market value will reach US$163 million.

According to the prospectus, Henghong Technology is mainly engaged in pharmaceutical product distribution business in China through Hengcheng Health. The main revenue comes from the distribution of traditional Chinese medicines and chemical medical products, as well as the provision of promotional and marketing services. The main products include medicines to treat colds and coughs (such as cold clearers, wind chill and cold granules, silver clover detoxifying granules, etc.), as well as nourishing medicines (such as blood nourishing and calming spleen granules, nourishing yin and muscle, nourishing qi and blood, Shouwu kidney supplements, kidney supplements, etc.).

Its distribution network covers 22 provinces and autonomous regions in China. In 2025, 93.6% of the company's products were purchased from a single supplier, and the chairman of Henghong Technology was also the general manager of that supplier.

Henghong Technology was founded in 2008 and plans to be listed on the NASDAQ. The stock code is HCPC. Kingswood Capital Markets was the sole bookkeeper for this transaction.