Xikang Successfully Debuts on Stock Exchange of Hong Kong, Adding another New Listing to Neusoft

September 28, 2023 — Today, Neusoft Xikang Holdings Inc. was officially listed on the main board of the Stock Exchange of Hong Kong (SEHK:9686), marking itself as the first stock in "Internet + Healthcare" sector of the Stock Exchange. This successful debut not only adds a new listed company member to the Neusoft family, but also holds strategic importance for Neusoft's active expansion in the healthcare industry.

Neusoft has always been deeply involved in healthcare and actively expanded its business layout. In 2011, Neusoft Corporation made an investment to establish Neusoft Xikang, focusing on health management and the Internet healthcare sector. With innovative business models and flexible management approaches, Neusoft Xikang fully unleashed its potential and value as an innovative company. Neusoft worked to forge its healthcare industry alliance, taking software technology as its core, to realize diversified development in fields such as the digital economy, smart cities and healthcare for future sustainable growth.

As a leader in China's emerging healthcare service market, Neusoft Xikang is committed to advancing medical transformation through information technology, and empowering stakeholders and creating value for them. The company has established China's first city-specific cloud hospital platform and rapidly expanded it to multiple regions across the country, to assist local governments in building and operating localized new medical infrastructure. The platform connects the local government, healthcare institutions, patients, and insurance companies to enable equitable access to medical resources and more effective and efficient healthcare services. In addition, the company promoted the delivery of Internet medical services via the cloud hospital platform, including Internet hospital-related services, remote medical services, smart family doctor services and Internet home care services. By offering health management services and smart healthcare products, it helps expand the access to healthcare services.

Since its establishment, Neusoft Xikang has led the development of Internet healthcare in China, from inception to current thriving state. As of March 31, 2023, Neusoft Xikang has set up 29 city-specific cloud hospital platforms with approximately 116,500 registered doctors and 46,000 registered nurses. The platform has connected 35,600 medical institutions, covering 6.6% of all hospitals in China, making it the largest cloud hospital network in the country. The company also has a chain of ten self-owned medical institutions located in nine cities. In 2022, the company entered into a significant strategic partnership with Zhejiang Province, and established the province-wide Internet + healthcare model, which provide high-quality and diversified home care services to residents by professional nurses.

While innovating its own business model and pushing forward industry transformation, Neusoft Xikang has also gained attention from the capital markets. In 2014, the company got its first round of funding, amounting to US$170 million, with investments from firms such as Hony Capital, Goldman Sachs, and Synergetic Innovation Fund Management. At the time, this marked the largest single financing record in the global internet healthcare and health management sector. Subsequently, Neusoft Xikang went on to complete multiple rounds of funding, attracting strategic investors such as PICC Property and Casualty, Alps Electric, and 6 Dimensions Capital. Through the establishment of more open and innovative platforms, these investments greatly accelerated the company's rapid growth.

In the IPO on the Stock Exchange of Hong Kong, Neusoft Xikang has received investments from Ningbo Industrial Fund, Haishu Investment, INFO EXPERT, among others. These investments not only provide additional financing opportunities but also offer sustained momentum for the company's future business development. Neusoft Xikang's offering proceeds will primarily be used for the following purposes: expanding the city-specific cloud hospital platform, which aims to enlarge the company's healthcare network and user base; enriching the company’s products across the entire industry value chain to offer more specialized and diverse healthcare services; research and development of technological infrastructure and data processing capabilities; exploring potential merger and acquisition opportunities; allocating funds for operating work and other general corporate uses.

Dr. Liu Jiren, Chairman of Neusoft Corporation and Chairman of Neusoft Xikang, stated that the listing of Neusoft Xikang marks the beginning of a new phase of business growth. It will further propel the progress of the healthcare industry alliance established by Neusoft, leading to the formation of a sustainable ecosystem, which will assist Neusoft in building a new model of digital economic development centered around the coordination of center, platform and ecosystem, and further advance the data-driven development of smart cities.

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