Ali becomes the second largest shareholder of physical examination giant with huge capital

On October 27, meinian health released a notice saying that the controlling shareholder of the company, Shanghai Tianyi Asset Management Co., Ltd and the persons acting in concert and other shareholders, together with Alibaba (China) Network Technology Co., Ltd (hereinafter referred to as "Alibaba network"), Hangzhou xintou Information Technology Co., Ltd and Shanghai Qijun Investment Center (limited partnership), respectively Signing the share transfer agreement, it is planned to transfer 209 million shares, 196 million shares and 200 million shares of the listed company held by them respectively, with a total of 605 million shares, accounting for about 16.16% of the total share capital of the company Among the total 16.16% shares transferred, the three companies will respectively account for 5.58%, 5.25% and 5.34% of the total equity of meinian health According to the announcement, the transfer price is 12.01 yuan / share Based on this calculation, the consideration paid by alinet, Hangzhou xintou and Shanghai Qijun for the transfer of the above shares is 2.510 billion yuan, 2.354 billion yuan and 2.401 billion yuan respectively Because Alibaba network and Alibaba network form the relationship of concerted actors, It is worth mentioning that although Shanghai Qijun does not have a concerted action relationship with Alibaba network and Hangzhou xintou, it still has a close relationship with Alibaba The partners of Shanghai Qijun include Shanghai Yunfeng Xinchuang equity investment management center and Shanghai Yunfeng Qitai investment center, which hold 2.44% and 97.56% shares respectively Yunfeng Xinchuang is closely related to Alibaba founder Ma Yun As a limited partner, alinet holds 36.36% of the shares of Shanghai Qijun Sina pharmaceutical also noted that Alibaba's shareholding in meinian health may further expand On September 11 this year, meinian health was approved by the CSRC to issue no more than 749 million new shares and raise no more than 2.046 billion yuan Alibaba network has applied to participate in the subscription of this non-public offering, but the issuance result has yet to be finalized At present, after the completion of the agreement transfer, it will not lead to changes in the controlling shareholders and actual controllers of meinian health Tianyi assets holds 6.31% of the shares of meinian health, which is still the controlling shareholder of the listed company Yu Rong and his concerted actors hold 22.88% of the total equity of meinian health, which is still the actual controller of the listed company Figure 1: shareholding of all parties before and after equity change Figure 2: equity structure of listed company after share transfer For the strategic equity participation of Alibaba, meinian Health said that Alibaba network, Hangzhou xintou and Shanghai Qijun, as important strategic shareholders and partners of the company, can help meinian health and high quality improve the digital and intelligent development level of the enterprise, build a technological platform for collaborative innovation, and provide support for the long-term healthy and stable development of the company As a leading preventive medicine enterprise in China, meinian health was founded in 1991 and listed in A-share on May 18, 2005 At present, the company has many physical examination brands, such as "meinian health", "Ciming physical examination", "Ciming AoYa", "meizhao physical examination", etc as of June 30, 2019, meinian health has completed or is under construction 684 physical examination branches in 311 cities However, due to the radical horse racing enclosure, meinian health is currently facing the test of profitability and financial ability According to the third quarter report released on the evening of October 24, the operating revenue of the first three quarters of US health was 6.278 billion yuan, up 7.89% year on year; the net profit was 391 million yuan, down 5.46% year on year; the basic earnings per share was 0.1 yuan, down 23.08% year on year In addition to the decline in net profit, the net cash flow from healthy business activities in the US also declined precipitously As of the end of the third quarter, the net cash flow generated by healthy business activities in the United States was - 659 million yuan, down 865.47%, of which, the net cash flow generated by the company's business activities in the third quarter was - 559.58 million yuan, down 114.27% Nevertheless, it did not prevent the outside world from favoring the marriage At the opening on October 28, meinian health shares soared, rising 9.9% to 14.97 yuan / share Before meinian health, Aikang Guobin, another private health examination giant in China, had been paid by Ali On March 26, 2018, Yunfeng fund, together with Alibaba group and Boyu capital, as well as Mr Zhang Ligang, founder, chairman and CEO of Aikang group, and Mr He Boquan, vice chairman of Aikang group, formed a buyer's group to sign a merger agreement to privatize the listed company at US $41.20 per common stock or US $20.60 per American Depository stock On January 18, 2019, Aikang Guobin announced the completion of privatization The external shareholders of the buyer group include Yunfeng fund, alixi and Boyu capital, Suning e-buy After the privatization, Alibaba controlled Taobao China Holdings and treasure cooling limited indirectly held 23.8% of Aikang Guobin's equity Suning e-buy indirectly holds 3.4% equity through participating in Yunfeng fund's funds; Boyu capital holds 13% equity; Yunfeng Fund (excluding Suning) indirectly holds 35.8% equity, becoming the largest shareholder of Aikang Guobin At that time, Alibaba said that consumer health is one of the main businesses of alihealth, and physical examination is the main field of consumer health; Aikang is the leading physical examination service provider in the industry, and has a good business cooperation with alihealth In the future, the two sides will carry out in-depth cooperation in the operation of physical examination members, online and offline omni-channel service exploration, disease artificial intelligence diagnosis and prediction and other fields.