MediWelcome Soars Over 26% On Trading Debut

Pharmaceutical Giant CSPC Pharma Becomes the Largest Placee To Join Forces to Expand Internet Hospital Services

HONG KONG, Jan, 22, 2021 /PRNewswire/ — Mediwelcome Healthcare Management & Technology Inc. (“MediWelcome”) commenced trading of its shares on the Main Board of SEHK on 19th Jan, 2021.

The stock code of MediWelcome is 2159. Shares of MediWelcome were actively traded and opened at HK$4.00, up 33% against its issue price of HK$3.00. It surged to the day’s high at HK$4.81 before closing at HK$3.79, up 26% over its issue price.

Total transaction volume was approximately 101 million shares, with an aggregate turnover of approximately HK$403 million.

CSPC Pharmaceutical Group Limited (“CSPC Pharma”; stock code: 1093), meanwhile, a leading pharmaceutical listed company in Hong Kong, has been allotted 8,000,000 shares, representing approximately 32% of 25,000,000 Shares, the final number of Offer Shares under the International Offering, and approximately 4% of total issued share capital upon listing.

As a result, CSPC Pharma has become the largest placee of the International Offering.

At the end of 2020, MediWelcome announced a strategic partnership of Internet hospital services with CSPC Pharma.

They launched a “Stroke Patients Standardised Post-Treatment Management Project” through MediWelcome’s Internet hospital platform to provide one-stop post-treatment services, including consultation, visiting, checking, medicine delivery to stroke patients in China.

The project has already launched in Shanghai and Jilin, and will be further promoted to the whole country to create a standardised post-treatment management ecosystem for Chinese stroke patients.

Becoming the largest placee, CSPC Pharma undoubtedly shows its confidence in MediWelcome’s execution abilities in Internet hospital services. The co-operation between MediWelcome and CSPC Pharma will trigger the Group’s innovation in the new business and will drive business development of the Group.

Commenting on the positive reception from market in its trading debut, Mr. Shi Wei, Chairman of the Board and Executive Director, said, “The successful listing on SEHK marks a significant milestone of the Company’s business development. I would like to express our deepest gratitude to our investors for their recognition and support. Also, I am grateful for CSPC Pharma joining our International Offering. CSPC Pharma has been our long-term strategic partner. And now it has also become our shareholder, which showed its full trust in MediWelcome. I believe our co-operation will be deepened as CSPC Pharma is one of our shareholders now and will lay a solid foundation for the expansion and the development of our new business, so we will have a broader developmental prospect. The cheering stock performance is the best demonstration of the Company’s capabilities and investors’ confidence. Looking ahead, we will continue our business development at internet hospital services and we will be able to foster sustainable growth with a view to striving for optimal returns for our shareholders.”