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GENERTEC UNIVERSAL MEDICAL GROUP COMPANY LIMITED 通用環球醫療集團有限公司 (Incorporated in Hong Kong with Limited Liability) (Stock Code：2666)

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GENERTEC UNIVERSAL MEDICAL GROUP COMPANY LIMITED 通用環球醫療集團有限公司 (Incorporated in Hong Kong with Limited Liability) (Stock Code：2666) Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. GENERTEC UNIVERSAL MEDICAL GROUP COMPANY LIMITED 通用環球醫療集團有限公司 (Incorporated in Hong Kong with limited liability) (Stock Code：2666) SUPPLEMENTAL ANNOUNCEMENT CAPITAL INCREASE IN A SUBSIDIARY Reference is made to the announcement of Genertec Universal Medical Group Company Limited (the “Company”) dated 1 June 2020 (the “Announcement”) in respect of a capital increase in a subsidiary of the Company. Capitalized terms used herein shall have the same meanings as those defined in the Announcement unless otherwise stated. Identities of the Ultimate Beneficial Owners of the Relevant Parties Further to the information of the Parties under the Capital Increase Agreement disclosed in the Announcement, to the best knowledge, information and belief of the Directors having made all reasonable enquiry, (a) the ultimate beneficial owner of each of the Minmetals Investors and Minmetals Innovation Investment is China Minmetals Corporation, a state-owned corporation under direct supervision of SASAC; and (b) the holding company of CITIC Capital (Tianjin) is CITIC Capital Holdings Limited (“CITIC Capital”). CITIC Capital is effectively owned by institutional shareholders, which include CITIC Limited (0267.HK, 19.90%), Tencent Holdings Limited (0700.HK, 20.70%), Fubon Financial Holding Co., Ltd. and its affiliate (2881.TW, 19.92%), Qatar Holding LLC (sovereign wealth fund of Qatar, 18.73%), and its management (managing director and above, 20.75%). In 1 this group of management shareholders, the top five individuals collectively hold 10.69% of the equity interest in CITIC Capital. Supplemental Details of the Settlement Arrangement As disclosed in the Announcement, the assets to be injected by the Minmetals Investors comprise (a) the assets (including real properties) of the Target Medical Institutions, and (b) certain real properties held by the Minmetals Investors. Transfer of real properties is subject to registration and/or filing with the relevant PRC government authorities (the “Transfer Formalities”). As it will take time to carry out the Transfer Formalities, under the Capital Increase Agreement, the Minmetal Investors will inject the assets (other than real properties) of the Target Medical Institutions first, followed by injection of the real properties. The amount and sequence of the cash contributions by the other parties will thus depend on the stage of the asset contribution by the Minmetals Investors, details of which are set out in the following tables. 2 Scenario 1 - the Minmetal Investors transfer the real properties to the Target Company or its designated entity once for all: Parties First-phase Contribution Second-phase Contribution Amount / assets Time Amount / assets Time Minmetals Assets (other than Within five business days upon All of the real Within 12 months upon completion of Investors real properties) of fulfillment of certain mutually properties in the capital increase registration, unless the the Target Medical agreed customary conditions amount of RMB128.19 Parties have otherwise agreed, and after Institutions in the precedent million the Transfer Formalities of all of the amount of real properties are completed. RMB198.24 million Hospital RMB233.82 million Within 15 business days after the RMB151.20 million Within 15 business days after the Investment Co., Transfer List is signed when the Minmetals Investors have completed Ltd. conditions precedent are fulfilled their second-phase contribution Minmetals RMB25.42 million RMB16.43 million Innovation Investment CITIC Capital RMB50.83 million RMB32.87 million (Tianjin) 3 Scenario 2 - the Minmetal Investors transfer the real properties to the Target Company or its designated entity in more than one batches: Parties First-phase Contribution Second-phase Contribution Third-phase Contribution Amount / assets Time Amount / assets Time Amount / assets Time Minmetals Assets (other Within five Not less than 50% of Within 12 The remaining part Within 12 months Investors than real business days the estimated value months upon of the relevant real upon completion of properties) of upon of the relevant real completion of properties, i.e. in an the capital increase the Target fulfillment of properties, i.e. in an the capital amount of not more registration, unless the Medical certain amount of not less increase than RMB64.09 Parties have agreed Institutions in mutually agreed than RMB64.09 registration, million otherwise and after the the amount of customary million unless the Transfer Formalities RMB198.24 conditions Parties have of all of the real million precedent agreed properties are otherwise and completed after the Transfer Formalities of the relevant real properties are completed Hospital RMB233.82 Within 15 RMB75.60 million Within 15 RMB75.60 million Within 15 business Investment Co., million business days business days days after the Ltd. after the after the Minmetals Investors Transfer List is Minmetals have completed their Minmetals RMB25.42 signed when the RMB8.22 million Investors have RMB8.22 million third-phase 4 Innovation million conditions completed their contribution Investment precedent are second-phase fulfilled contribution CITIC Capital RMB50.83 RMB16.43 million RMB16.43 million (Tianjin) million 5 The Board is of the view that notwithstanding the long settlement period, on the following basis, the settlement terms of the Capital Increase Agreement are fair and reasonable and in the interest of the Company and its shareholders as a whole: i. based on the Company’s experience from other similar transactions and market practice in China, it would take a period of time for the relevant parties to fulfill the conditions precedent and, most importantly, carry out the Transfer Formalities so as to complete their contribution of real properties. Therefore, it is practical and reasonable to inject the assets (other than real properties) of the Target Medical Institutions and the real properties in batches to allow for a reasonable period of time for the Minmetals Investors to fulfill their contribution obligation regarding the real properties; ii. Hospital Investment Co., Ltd., together with Minmetals Innovation Investment and CITIC Capital (Tianjin), will make their respective cash contribution in instalments, each after the Minmetals Investors have completed their relevant contribution obligation, as indicated in the table above; and iii. according to the Capital Increase Agreement, the Target Company is entitled to use the relevant real properties at nil consideration before the Minmetals Investors complete their relevant contribution obligation regarding the real properties and, as such, the long settlement period would not have any adverse effect on the business operation of the Target Company as far as the real properties are concerned. By order of the Board Genertec Universal Medical Group Company Limited 通用環球醫療集團有限公司 Peng Jiahong Executive Director Beijing, PRC, 5 June 2020 As at the date of this announcement, the executive Directors are Ms. Peng Jiahong (Vice- chairwoman) and Mr. Yu Gang; the non-executive Directors are Mr. Zhang Yichen (Chairman), Ms. Liu Kun, Mr. Liu Zhiyong, Mr. Liu Xiaoping and Mr. Su Guang; and the independent non- executive Directors are Mr. Li Yinquan, Mr. Chow Siu Lui, Mr. Han Demin and Mr. Liao Xinbo 6 .
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