On 30 January 2019, Genertec Universal Medical Group Company Limited (“Universal Medical”, HK.2666) entered into a cooperation agreement with Ansteel Group Corporation Limited (鞍钢集团有限公司, “Ansteel Group”) in Anshan, Liaoning Province. Pursuant to the agreement, Universal Medical and Ansteel Group will establish a joint venture, the total investment of which will be contributed with cash by Universal Medical, and with the related assets of Ansteel Group General Hospital (鞍钢集团公司总医院, “Ansteel General Hospital” ) and Ansteel Group (Anshan) Health Industry Co., Ltd. (鞍钢集团（鞍山）健康产业有限公司, “Ansteel Health”), respectively. The registered capital of the joint venture will be held by Universal Medical and Ansteel Group as to 51% and 49%, respectively. The two sides will cooperate to establish a leading medical and health conglomerate in Northeast China.

Ansteel Group is a large-scale central state-owned enterprise ranked among “Fortune 500 Largest Global Corporations”. Ansteel General Hospital, with a history of development for 80 years, is a Grade III Class A comprehensive hospital with various functions including medical treatment, research, training, rehabilitation, prevention and emergency. With an actual capacity of over 1,445 beds, Ansteel General Hospital boasts a complete system of subjects and advanced medical equipment, enjoying the reputation in Liaoning Province with its comprehensive medical technology. The health assets of Ansteel Health include, among others, the Hospital for Occupational Disease Prevention and Treatment of Ansteel General Hospital (鞍钢集团公司总医院职业病防治院), Qianshan Hot Spring Sanatorium of Ansteel General Hospital (鞍钢集团公司总医院千山温泉疗养院) and Liaoning Xingye Medicine Co., Ltd. (辽宁兴业医药有限公司).

Universal Medical is a Hong Kong listed company under China General Technology Group, one the six key state-owned enterprises focusing on health industry approved by SASAC. As a leading medical and health conglomerate in China, Universal Medical actively responds to national call and implements the Healthy China Strategy, committed to serving Chinese people with quality healthcare resources and pushing more SOE-hospital M&A projects. In future, Universal Medical and Ansteel Group will follow the development outlook of “Solid Comprehensive Strengths and Strong Specialties” and make Ansteel Health and Ansteel General Hospital key medical resources in the North-East China layout by introducing capital, medical resources and optimize its remuneration mechanisms, and expanding open bed space.