29 November 2019, China Everbright Limited (“Everbright”, stock code: 165.HK) officially announced that its wholly-owned subsidiary China Everbright Senior Healthcare Company Limited (“Everbright Senior Healthcare”) completed its reorganisation today by introducing Everbright Financial Holding Asset Management Co Ltd (“Everbright Financial Holding”), Sun Life Everbright Life Insurance Co Ltd (“Sun Life Everbright”), China Everbright Industrial (Group) Co Ltd (“China Everbright Industrial”), China Everbright Industrial (Group) Co Ltd (“China Everbright Industrial”), (Everbright Zhengzhou Guotou New Industry Investment Fund Partnership L.P.*), which is controlled by Everbright Industry (“Everbright Industrial Investment Fund”) and Apex Shine Global Limited as new shareholders. Following the reorganisation, Everbright, Everbright Financial Holding, Sun Life Everbright, China Everbright Industrial, Everbright Industrial Investment Fund and Apex Shine now respectively hold 49.29%, 24.85%, 16.57%, 4.14%, 4.14% and 1.00% of Everbright Senior Healthcare.

A total of RMB612 million was introduced in this reorganisation, which will be used to further expand and strengthen Everbright Senior Healthcare. As the largest shareholder, Everbright will fully utilise its advantages in fund management business, artificial intelligence, and high-tech industries to support Everbright Senior Healthcare in building smart elderly care technology. It will also fully make use of the Group’s synergistic advantages and the professional operation and management capabilities of Everbright Senior Healthcare. By combining the medical sector, healthcare sector and service sector, the Group aims to create an elderly care model in China that focuses on light asset management, with supplementary heavy asset management.

The aging population has become one of the most important issues concerning livelihood in Mainland China. Improving elderly care conditions and increasing diversified elderly care services are pressing issues. Everbright entered the elderly care industry as early as 2016, acquiring Beijing Everbright Huichen Nursing in May 2016, investing in Wuxi Everbright Enjoy Twilight Years in November 2017, and completing its controlling shareholder acquisition of Wuxi Everbright Enjoy Twilight Years in June 2019. In September 2019, Everbright completed its controlling shareholder acquisition of Chongqing Bailingbang, on which it based its establishment of Everbright Senior Healthcare. Through mergers and acquisitions as well as the expansion of newly-established institutions, Everbright Senior Healthcare currently has 21,000 beds, covering 24 core cities and managing nearly 80 various types of elderly care institutions, and becoming a leading enterprise in China’s elderly care industry.

In October this year, Mr. Zhao Wei, Executive Director and CEO of Everbright, announced the Group’s latest strategy, in which he clearly highlighted that the Group plans to develop the elderly care industry as one of the Group’s four major industries. The elderly care industry will use the restructured Everbright Senior Healthcare as a platform to raise more than RMB10 billion in funds within three years, to invest in industry development and further promote the development of China’s elderly care industry.

This reorganisation marks a new stage in Everbright Senior Healthcare’s development, establishing a model that utilises a powerful combination in China’s elderly care industry. Everbright Senior Healthcare will rely on the Group’s great resources to continue on its path of high-quality, sustainable business development, and build itself into a benchmarking enterprise in China’s elderly care industry.