New Media Acquiring Evergrande Wonjin and Evergrande Expanding Heath Business Pattern

HONG KONG, April 1, 2015 /PRNewswire/ — On April 1, New Media (HK. 708), which planned to rename as Evergrande Health Industrial Group Co., Ltd., announced that it signed Equity Acquisition Agreement with Evergrande Health Industrial Co., Ltd. and agreed to acquire 96.25% of equity of Tianjin Evergrande Wonjin Medical Cosmetology Hospital Co., Ltd. (Evergrande Wonjin) and WONJIN Aesthetic Surgery Clinic would hold 3.75% of equity of Evergrande Wonjin. An original report from Sina Leju follows:

As indicated in the public announcement, main business of Evergrande Wonjin is establishment of an esthetic surgery hospitals (Tianjin hospital). At present, it has obtained an official written reply to planning and approval of establishment of a medical institution from Health and Family Planning Commission of Tianjin.

As announced, in the cooperation between New Media (Evergrande Health) and Wonjin, the former shall be responsible for investment in the market and medical equipment and the latter shall be responsible for providing professional medical team, pure technology from Korea, management mode and management procedures. New Media (Evergrande Health) will be the sole cooperator of Wonjin in China.

Meanwhile, in the public announcement, New Media pointed out that acquisition of Evergrande Wonjin was an important strategic measure for entry into health industry. The company is committed to creating a global high-quality health management and medical service platform, advocating scientific and healthy concepts and providing outstanding health and medical treatment service.

It is understood that New Media (Evergrande Health) was previously acquired by Evergrande , which was a platform for listing its health industry. Established in 1999, WONJIN Aesthetic Surgery Clinic was the earliest and the largest medical cosmetology group in Korea.

In accordance with an authoritative report, total output of Chinese beauty industry reached RMB 510,000,000,000. In 2018, market scale will reach RMB 850,000,000,000 as estimated and potential of output value in the market will be huge; however, beauty industry is highly dispersed at present and quality of institutions differs greatly.

As indicated by materials, Evergrande Real Estate (HK. 3333), a shareholder of New Media, released 2014 Annual Performance Report on March 30, which revealed amount of total assets of Evergrande was RMB 474,500,000,000, an increase of 36.3% on year-on-year basis, business turnover was RMB 111,400,000,000, an increase of 18.9 % on year-on-year basis, net profit was RMB 18,000,000,000, an increase of 31.4% and ROE is 25.3%.