Media China Shifts Focus To Health Industry
(Hong Kong) Media China Corporation Limited (“Media China” or the “Company”, together with its subsidiaries known as the “Group”) (stock code: 00419.HK) today announces that the Group proposes to change its name to China Jiuhao Health Industry Corporation Limited (“Jiuhao Health Industry”) to reflect the shift of its business focus to health industry operations, in particular health maintenance and retirement projects developed under the brand name of “Jiuhao”. In addition, the Group has entered into a strategic cooperation agreement with Tide Holdings (H.K.) Limited (“Tide Holdings”) to expand health maintenance and retirement projects in China.
Demand for health maintenance and retirement services will experience strong growth in China, underpinned by huge consuming power of its ever-increasing senior population and the government’s supportive policies. In order to better leverage the golden opportunities in the health maintenance and retirement services industry, the Group intends to take an aggressive approach in expanding related operations, aiming to establish itself as a leader in innovation and the operation of the domestic health industry. It also aims to offer proprietary, high-end, green and comprehensive health management, maintenance and retirement solutions to senior citizens. Lastly, it plans to create sizeable health maintenance centres as well as health maintenance and retirement communities in China.
The Group has launched the strategic rollout of a development in the health industry. In July 2011, the Group completed the acquisition of the operation of ‘‘Bayhood No. 9 Club’’, a membership-based luxury club comprising a 18-hole golf course, a PGA-branded golf academy, practice bays and VIP rooms, theme dining rooms, spa facilities and retail facilities with a prime location close to the city hub of Beijing, PRC. The Group also completed the acquisition of the development and operating rights of a 387,000 square metres land plot located at Beijing Chao Lai Football Activities Centre, Chaoyang District, Beijing, PRC, and adjacent to ‘‘Bayhood No. 9 Club’’ in October 2012. The Group has planned to develop the land plot in The Beijing Si He Yuan Health Maintenance Hotel project with a total floor area of approximately 80,400 square metres. The combined establishment comprising ‘‘Bayhood No. 9 Club’’ and the Beijing Si He Yuan Health Maintenance Hotel will become the first flagship project of “China Jiuhao Health Maintenance Centre”. Modeled on the flagship project in Beijing, the Group also plans to establish the first specialised and systemized health and convalescent tourist complex of large scale in PRC in the next decade, through the development of a number of high-end convalescent facilities and health maintenance centres across the country. In the long run, the Group will focus on the development and operation of sustainably operated comprehensive communities for health maintenance and retirement.
According to the strategic cooperation agreement, the Group and Tide Holdings will cooperate with each other, with a view to levering their respective expertise and resources, in the development of health maintenance and retirement community projects in PRC, including the Beijing Si He Yuan Health Maintenance Hotel Project, the China Jiuhao Health Maintenance Centre and the Retirement Community Project.
Mr. Yuen Hoi Po, Chairman of Media China, said, “It is our great honor to cooperate with Tide Holdings to develop the health maintenance and retirement community projects in China under the brand name of ‘Jiuhao’. Mr. Zhang Huagang, President of Tide Holdings and previously the president of Gemdale Corporation, has extensive experience in managing high-end health maintenance and retirement communities, health management industry, etc. Management believes, on the back of the huge market potential of health maintenance and retirement communities and in the principle of “progressive maintenance of health and retirement”, the Group will leverage the sector expertise of Tide Holdings, the successful operation of the Bayhood No.9 Club and the China Jiuhao Health Maintenance Centre and its insight into market requirements to establish a operation of sustainably operated comprehensive communities for health maintenance and retirement. Meanwhile, the nationwide expansion of China Jiuhao Health Maintenance Centres will facilitate the Group’s development of sizeable retirement communities and ancillary facilities near those centres and hence create synergy for health maintenance and retirement operations. This will increase the Group’s revenue base and further enhance its profitability, laying a solid foundation for the Group’s sustainable development.”
Source: Media China