AVISTA wishes you a happy Chinese New Year! May the Year of the Rat bring you good health and good fortune!
 
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Chinese New Year Greetings from AVISTA Group

Prenetics Global Ltd. (PRE.US), the combined company of Prenetics Group Ltd., the Hong Kong-based biotech firm, and Artisan Acquisition Corp., a special purpose acquisitions company (SPAC), has been successfully listed on NASDAQ on 18 May 2022. AVISTA Group is honored to be engaged in providing valuation services with regards to the first Hong Kong-based unicorn’s listing application on NASDAQ via a SPAC merger. Prenetics Group Ltd. is a global leader in genomic and diagnostic testing with significant operations in Hong Kong and the U.K. Known for its COVID-19 testing services, the billion-dollar start-up reported a record-high US$92 million in revenue for the first quarter of 2022, representing a 60.2% year-on-year growth. Prenetics Group Ltd. has a robust product pipeline and has launched a range of new products in the first half of 2022, including ColoClear, a non-invasive stool DNA test for colon cancer screening, and Circle Snapshot, an at-home painless blood collection device with a user-friendly sample collection and result delivery system. Artisan Acquisition Corp. (ARTAU.US) is a SPAC which searches globally for a target with operations or prospects focusing on high-growth healthcare, consumer and technology sectors, and companies that it believes can be well-positioned for success in Greater China. The merger is expected to raise up to US$459 million proceeds for Prenetics upon the completion of de-SPAC transaction. UBS, Citi, Credit Suisse and CICC are financial advisors on the de-SPAC transaction. <img src="../../../../../uploads/Prenetics_EN_0be7bbf215.PNG" alt="" width="533" height="400" />

Congratulations to Prenetics Global Ltd. (PRE.US)–First Hong Kong Unicorn Going Public via SPAC Merger–on its Successful Listing 

Yunkang Group Ltd. (2325.HK) has been successfully listed on the Mainboard of HKSE on 18 May 2022. AVISTA Group is honored to be engaged in providing valuation services with regards to this listing application. Yunkang is a medical operation service provider in China established in 2008, primarily engaged in offering a full suite of diagnostic testing services for medical institutions. The group was among the top five major medical operation service providers in China in 2020, with a market share of 3.7% in terms of revenue, according to Frost &amp; Sullivan. Yunkang also ranked the second largest provider in China’s diagnostic testing services for medical institution alliances market in 2020, accounted for a 12.5% market share. The outbreak of the COVID-19 pandemic, and the subsequent growth in market needs for diagnostic services and supplies, the COVID-19 test kits in particular, have contributed to a surge in demand for Yunkang’s diagnostic outsourcing services, presenting a higher gross-profit margin accompanied by economies of scale.  Located in a diagnostic outsourcing service market with sizable growth potential, and equipped with its own reliable diagnostic capabilities and a nationwide customer base, currently Yunkang operates three lines of business, namely diagnostic testing services for medical institution alliances, diagnostic outsourcing services and diagnostic testing services via outpatient clinic for non-medical institution customers. The group targets to continue expanding its on-site diagnostic center network to capture a larger market share. <img src="../../../../../uploads/2325_HK_EN_fe4921a7c5.PNG" alt="" width="533" height="400" />

Congratulations to Yunkang Group Ltd. (2325.HK) on its Successful Listing

Our Managing Director, Mr. Vincent Pang, was pleased to be invited by The Hong Kong Chartered Governance Institute (HKCGI) to present a webinar titled “Valuation in Practice: from Fundraising to IPOs and Beyond” on 11 May 2022. The webinar is dedicated to sharing important valuation specific experience and related up-to-date knowledge applicable in the course of corporate development, from start-up to IPO stages and subsequent M&amp;A activities, to a room of over 200 corporate leaders and decision makers. From the perspective of an industry veteran, Vincent delved into various approaches of valuation practice that support and enable informed decision-making, robust strategic planning and sustainable growth of a company. The prevailing reporting frameworks and standards, as well as regulators of concern were also introduced to provide a comprehensive view of how to make inroads into effective corporate governance augmented by a credible and professional valuation services provider. <img src="../../../../../uploads/1_5ecec2af98.png" alt="" width="533" height="300" /> <img src="../../../../../uploads/2a_e6ea7857b1.png" alt="" width="533" height="300" />