On 19 April 2019, Genertec Universal Medical Group Company Limited (“Universal Medical”, HK.2666) signed a framework agreement with Tianjin Guoxing Capital Operations Co., Ltd. (天津国兴资本运营有限公司, “Guoxing Capital”). Both sides reached a consensus about unifying integration and development of the subordinate medical institutions of Tianjin SASAC, and promoting the overall improvement of the medical service level in Tianjin. Yao Laiying and Jing Yue, deputy mayor and deputy secretary of Tianjin, Xie Biao, deputy general manager of China General Technology Group, attended the signing ceremony. Related leaders of Tianjin SASAC, Tianjin Health and Family Planning Committee, Tianjin Medical Insurance Bureau, Binhai New Area Government (滨海新区政府), Tianjin Port Group (天津港集团), Bohai Chemical Group (渤海化工集团), Universal Medical and Guoxing Capital also attended the ceremony.

Guoxing Capital is a platform company directly funded and supervised by Tianjin SASAC, positioned to undertake the SOE equity from the transfer from public institutions to enterprises and the deregulation of the party and governmental organs, and to undertake the assets of staff hospitals and human resources from the municipal-managed enterprises that finished the mixed-ownership reform. Through the introduction of professional and well-positioned social capital to participate in reforms in a legal and orderly manner, Guoxing Capital is committed to developing modern service industry, and carrying out asset integration, etc.

As the core operating entity of the medical health segment of China General Technology Group, Universal Medical actively explores the development model of the medical and health industry under the new environment, establishing a medical and health ecosystem with medical services as the core to simultaneously develop medical finance, medical technology services, medical digitalization, health insurance and medical care combined with elderly care, which forms a closed loop of medical health services covering the whole life cycle of patients.

In the future, to promote the medical technology level and service capacity of medical institutions in Tianjin, meet the growing medical service needs of the people for overall improvement of their well-being, Universal Medical will cooperate with the Tianjin SASAC to carry out differentiated development of its affiliated hospitals according to their scale, the existing foundation and the characteristics of the disciplines, making a series of improvements in key disciplines upgrade, hospital digitalizaiton and operation mechanisms.