China Resources Phoenix Healthcare Holdings Company Limited
(Incorporated in the Cayman Islands with limited liability)
Management Splashes Out Approximately
HK$9.45 Million to Raise Stake in CR Phoenix
The Group Will Ride on Blooming Healthcare Sector to Drive Profitable Growth
(26 May 2017, Hong Kong) China Resources Phoenix Healthcare Holdings Company Limited ("CR Phoenix" or the "Group"; stock code: 01515.HK), a leading general healthcare services provider in China, is pleased to announce that its executive directors (Mr. Cheng Libing, Mr. Wu Potao and Mr. Xu Zechang) together with Mr. Xu Xin, its deputy general manager, spent a total of approximately HK$9.45 million to raise their shareholdings in the Group by approximately 0.86 million shares on the secondary market on 19 May. The further increase in the management's shareholdings following that by Ms. Xu Jie, the second largest shareholder of the Group, clearly demonstrates that the management and major shareholder of the Group have a common goal and are fully confident about its future development.
According to the latest shareholding disclosures, Mr. Cheng Libing, the Group's executive director and vice chairman, increased his shareholdings by 272,500 shares at an average price of HK$10.978 per share or a total consideration of approximately HK$2.99 million. Meanwhile, Mr. Wu Potao, the Group's executive director and CEO, increased his shareholdings by 273,000 shares at a total consideration of approximately HK$2.99 million or an average price of HK$10.940 per share; and Mr. Xu Zechang, another executive director, spent approximately HK$2.92 million to acquire 259,500 shares at an average price of HK$11.255 per share. Mr. Xu Xin acquired 50,000 shares at an average price of HK$11 per share. After completion of these transactions, Mr. Cheng Libing, Mr. Wu Potao, Mr. Xu Zechang and Mr. Xu Xin hold the Group's issued share capital of 0.09%, 0.27%, 0.25% and 0.08%, respectively.
The stock of CR Phoenix received favourable response in the market. It closed at HK$11.46 per share on 25 May as compared with the closing price of HK$10.30 per share on 8 May.
Management of CR Phoenix said, "The Group will leverage on China Resources' rich resources and strategic position as well as Phoenix Healthcare's market-driven management to capture increasing opportunities in the market brought about by a clearer direction for the government's healthcare reform and growing demand for healthcare services. The increase in shareholdings by Ms. Xu Jie clearly reflects that all of us are confident about the Group's future development. We do not rule out the possibility of further increase of our shareholdings in the future. The management and major shareholders of the Group will work closely with each other to further enhance its profitability and efficiency."
According to the shareholding disclosures released by the Hong Kong Stock Exchange, Ms. Xu Jie, the Group's founder, increased her shareholdings by 13.2 million shares at HK$10.41 per share or a total consideration of approximately HK$137 million on 8-11 May. After the transactions, Ms. Xu and her family members hold 15.01% of the Group's issued share capital and remain its second largest shareholder.
Ms. Xu Jie established Phoenix Healthcare in 1988 and led it to complete the asset upgrade and restructuring in 2016 by bringing in China Resources Healthcare as its strategic shareholder. Afterwards, it was renamed as "CR Phoenix". Benefiting from the integration of the strengths of China Resources Healthcare Group, a state-owned enterprise, and Phoenix Healthcare's own market-driven mechanism, the Group has vigorously expanded its healthcare network, reaped notably greater synergies and enlarged the Group's leadership in the industry. It has evolved to be the leading enterprise in China's healthcare service industry in terms of its business scale.
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About China Resources Phoenix Healthcare Holdings Company Limited (1515.HK)
China Resources Phoenix Healthcare Holdings Company Limited, formerly Phoenix Healthcare Group Ltd., was established in 1988. It took on the new name now after the restructuring of China Resources Healthcare Group Ltd. and Phoenix Healthcare Group Ltd. It is the largest healthcare service platform with the longest operating history in China and the listing platform of China Resources Group's healthcare service operations.
After the restructuring and taking advantage of the rapid development of the Beijing-Tianjin-Hebei region, the Group expanded its healthcare services into the Pearl River Delta region and the Pan Yangtze River Delta region, the fastest growing and most populous regions in China, and significant breakthroughs were achieved boosting its business scale and network. Currently, via investment, management or contractual arrangement, it operates a network covering seven Grade III hospitals, 14 Grade II hospitals, 27 Grade I hospitals and 55 community agencies. It has in all 11,772 hospital beds in operation and handles more than 10 million outpatient visits a year. The total revenue from medical institutions it manages amounted to RMB5.926 billion in 2016.
CR Phoenix adheres to the philosophy of "helping the needy with kindness and sophisticated medical skills" and embraces the culture of "Caring, Innovation, Perseverance and Sharing". Guided by the core values of "dedication to fulfilling professional responsibilities and taking care of people's well-being", it strives to achieve the mission of "providing high-quality, safe and reliable healthcare services at reasonable prices". The Group aims to "build itself into a world-class healthcare service group".
26/05/2017 Dissemination of a Financial Press Release, transmitted by EQS Group.
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