hk-ipo/data/extracted_text/09686/allotment_results_summary_2023-09-27_2023092700032.txt

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ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
SUMMARY
Offer Price
• The Offer Price has been determined at HK$4.76 per Share (exclusive of brokerage of
1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
Exchange trading fee of 0.00565%).
Net Proceeds from the Global Offering
• Based on the Offer Price of HK$4.76 per Offer Share, the net proceeds from the Global
Offering to be received by the Company, after deduction of the underwriting fees and
commissions and the other estimated expenses payable by the Company in connection with
the Global Offering, are estimated to be approximately HK$554.5 million. The estimated
total listing expenses are approximately HK$82.4 million, or 12.9% of the gross proceeds
of the Global Offering, comprising HK$21.6 million underwriting related expenses,
HK$40.2 million fees and expenses of legal advisors and Reporting Accountants, and
HK$20.6 million other fees and expenses. The Company intends to use the net proceeds
from the Global Offering in the manner as set out in the paragraph headed “Net Proceeds
from the Global Offering ” in this announcement.
• As no over-allocation of International Offer Shares has been made, the Over-allotment
Option has not been and will not be exercised, and no additional proceeds are expected to
be received by the Company in this connection.
Applications and Indications of Interest Received in the Hong Kong Public Offering
• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
been under-subscribed. A total of 2,299 valid applications have been received pursuant to
the Hong Kong Public Offering through the White Form eIPO service and through the
CCASS EIPO service for a total of 11,995,500 Hong Kong Offer Shares, representing
approximately 0.90 times of the total number of 13,381,000 Hong Kong Offer Shares
initially available for subscription under the Hong Kong Public Offering.
• Due to the under-subscription in the Hong Kong Public Offering, the reallocation
procedures as described in the section headed “Structure of the Global Offering ” in the
Prospectus have been effected, and a total number of 1,385,500 Hong Kong Offer Shares
have been reallocated from the Hong Kong Public Offering to the International Offering,
representing approximately 1.04% of the total number of Offer Shares initially available
under the Global Offering. As a result of such reallocation, the final number of Offer
Shares allocated to the Hong Kong Public Offering has been reduced to 11,995,500 Offer
Shares, representing 8.96% of the total number of Offer Shares initially available under
the Global Offering. The Sole Sponsor and the Sole Overall Coordinator and each of the
Directors confirm that the maximum total number of Offer Shares that may be allocated
to the Hong Kong Public Offering following the reallocation (the “Allocation Cap ”, as
defined in Guidance Letter HKEX-GL91-18) has not been exceeded.


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International Offering
• The Offer Shares initially offered under the International Offering have been slightly
over-subscribed by approximately 1.15 times of the total number of Offer Shares initially
available under the International Offering. The final number of Offer Shares under the
International Offering is 121,810,000 Shares, representing approximately 91.04% of the
total number of Offer Shares initially available under the Global Offering. There has been
no over-allocation in the International Offering.
• There are a total of 106 placees under the International Offering, among which (i) 96
placees, representing 90.57% of the total number of placees under the International
Offering, have been allotted five or fewer board lots of Offer Shares, totalling 49,500
Shares, representing 0.04% of the total number of Offer Shares available under the
International Offering; and (ii) 94 placees have been allotted one board lot of Offer Shares,
representing approximately 88.68% of the total number of placees under the International
Offering, totalling 47,000 Shares, representing approximately 0.04% of the total number of
the Offer Shares available under the International Offering.
Cornerstone Investors
• Based on the Offer Price of HK$4.76 per Offer Share (exclusive of brokerage of 1.0%,
SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements, the
Cornerstone Investors have subscribed for a total of 46,592,000 Offer Shares, representing
in aggregate (a) approximately 5.53% of the total issued share capital of the Company
immediately upon completion of the Share Subdivision and the Global Offering and (b)
approximately 34.82% of the number of Offer Shares under the Global Offering.
• Please refer to the section headed “Cornerstone Investors ” in this announcement for further
details of the Cornerstone Investors.
Compliance with Placing Guidelines of the Listing Rules
We confirm that, to the best of our knowledge, information and belief, no Offer Shares placed
by or through the Sole Overall Coordinator, Joint Global Coordinators, the Joint Bookrunners,
the Joint Lead Managers, the CMIs or the Underwriters under the Global Offering have been
placed with (i) any core connected persons of the Company, (ii) any existing Shareholders of
the Company, or (iii) their respective close associates whether in their own names or through
nominees.
None of the Sole Sponsor, the Sole Overall Coordinator, the Joint Global Coordinators, the Joint
Bookrunners, the Joint Lead Managers, the CMIs, the Underwriters and their respective affiliated
companies and connected clients of the lead broker or of any distributors (as defined in the
Placing Guidelines) has taken up any Offer Shares for its own benefit under the Global Offering.
The Directors confirm that immediately after the Global Offering, (i) no placee will, individually,
be placed more than 10% of the enlarged issued share capital of the Company, (ii) there will not
be any new substantial shareholder (as defined in the Listing Rules) of the Company, (iii) the
three largest public Shareholders do not hold more than 50% of the shares held in public hands
at the time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules, and (iv)
there will be at least 300 Shareholders at the time of the Listing in compliance with Rule 8.08(2)
of the Listing Rules.
The Directors confirm that, to the best of their knowledge, information and belief and having
made all reasonable enquiries, no Offer Shares under the International Offering have been
allocated to placees who are Directors, chief executive, substantial Shareholders or existing
Shareholders of the Company or any of its subsidiaries or their respective close associates within
the meaning of the Listing Rules, whether in their own names or through nominees, and that all
placees and the public who have subscribed for the Offer Shares and their beneficial owners are
independent of and not connected with the Company.


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Confirmations of Public Shareholders in the Hong Kong Public Offering and Placees in the
International Offering
• To the best knowledge, information and belief of the Directors, no Offer Shares placed
by or through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint
Bookrunners, the Joint Lead Managers, the CMIs or the Underwriters under the Global
Offering have been placed with applicants who are core connected persons (as defined in
the Listing Rules) of the Company, or to any connected clients (as set out in paragraph
5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the Placing
Guidelines, whether in their own names or through nominees. The International Offering is
in compliance with the Placing Guidelines.
• The Directors confirm that, to the best of their knowledge, information and belief, (i) none
of the Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering
and placees in the International Offering has been financed directly or indirectly by the
Company, the Directors, chief executive, substantial Shareholders or existing Shareholders
of the Company or any of its subsidiaries or their respective close associates; (ii) no
rebate has been, directly or indirectly, provided by the Company, the Directors, chief
executive, substantial Shareholders or existing Shareholders of the Company or any of its
subsidiaries or their respective close associates or syndicate members or any other brokers
or underwriters to any public Shareholders in the Hong Kong Public Offering or placees in
the International Offering; (iii) none of the public Shareholders in the Hong Kong Public
Offering and placees in the International Offering who has subscribed for the Offer Shares
is accustomed to taking instructions from the Company, the Directors, chief executive,
substantial Shareholders or existing Shareholders of the Company or any of its subsidiaries
or their respective close associates in relation to the acquisition, disposal, voting or other
disposition of the Shares registered in his/her/its name or otherwise held by him/her/it; (iv)
the consideration payable by the public Shareholders in the Hong Kong Public Offering and
placees in the International Offering for each Share subscribed for or purchased by them is
the same as the final Offer Price as determined by the Company, in additional to brokerage
of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
Exchange trading fee of 0.00565%; and (v) there is no side agreement or arrangement
between the Company, any of the Directors, chief executive, substantial Shareholders or
existing Shareholders of the Company or any of its subsidiaries or their respective close
associates or syndicate members or any other brokers or underwriters, on one hand, and the
public subscribers or the placee who has subscribed for the Offer Shares, on the other hand.
• The Directors confirm that, to the best of their knowledge and information, none of the
placees under the International Placing will be placed more than 10% of the enlarged issued
share capital of the Company immediately following completion of the Share Subdivision
and the Global Offering. Accordingly, the Directors confirm that there will not be any new
substantial Shareholder of the Company immediately following completion of the Share
Subdivision and the Global Offering.


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Over-allotment Option
• The Sole Overall Coordinator confirmed that no over-allocation of International Offer
Shares has been made and the stock borrowing agreement will not be entered into. In
view of the fact that there has been no over-allocation in the International Offering, no
stabilising action as described in the Prospectus will take place during the stabilisation
period. As of the date of this announcement, the Over-allotment Option has not been
exercised and the Over-allotment Option will be lapsed and will not be exercised as no
over-allocation of the Offer Shares was made in the International Offering.
Lock-up Undertakings
• The Company, the Cornerstone Investors and certain existing Shareholders are subject to
certain lock-up undertakings as set out in the paragraph headed “Lock-up Undertakings ” in
this announcement.
Results of Allocations
• Results of allocations of the Hong Kong Offer Shares in the Hong Kong Public Offering,
including the level of indications of interest in the International Offering, the level of
applications in the Hong Kong Public Offering and the basis of allocation of the Hong
Kong Offer Shares will be published on Wednesday, September 27, 2023 on the website of
the Stock Exchange at www.hkexnews.hk  and the Company ’s website at www.xikang.com .
• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
Offering successfully applied for through the White Form eIPO service or through the
CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers
or Hong Kong business registration numbers of successful applicants (where applicable)
and the number of Hong Kong Offer Shares, successfully applied for, will be made
available at the times and dates and in the manner specified below:
• in the announcement to be posted on the Company ’s website and the Stock
Exchange ’s website at www.xikang.com  and www.hkexnews.hk , respectively, by no
later than 8:00 a.m. on Wednesday, September 27, 2023;
• from the designated results of allocations website at www.iporesults.com.hk
(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function on a 24-
hour basis from 8:00 a.m. on Wednesday, September 27, 2023 to 12:00 midnight on
Tuesday, October 3, 2023;
• from the allocation results telephone enquiry line by calling +852 2862 8555 between
9:00 a.m. and 6:00 p.m. from Wednesday, September 27, 2023 to Tuesday, October 3,
2023 (excluding Saturday, Sunday and public holiday).
• This announcement contains a list of identification document numbers. Identification
document numbers shown in the section headed “Results of Applications Made by White
Form eIPO ” refer to Hong Kong identity card numbers/passport numbers/Hong Kong
business registration numbers/certificate of incorporation numbers/beneficial owner
identification codes (if such applications are made by nominees as agent for the benefit of
another person) whereas those displayed in the section headed “Results of Applications
Made by Giving Electronic Application Instructions to HKSCC via CCASS ” are provided
by CCASS Participants via CCASS. Therefore, the identification document numbers shown
in the two sections are different in nature.


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Please note that the list of identification document numbers set out in this announcement
may not be a complete list of successful applicants since only successful applicants whose
identification document numbers are provided to HKSCC by CCASS Participants are
disclosed. Applicants with beneficial names only but not identification document numbers
are not disclosed due to personal privacy issue as elaborated below. Applicants who applied
for the Hong Kong Offer Shares through their brokers can consult their brokers to enquire
about their application results.
Since applications are subject to personal information collection statements, beneficial
owner identification codes displayed in the sections headed “Results of Applications Made
by Giving Electronic Application Instructions to HKSCC via CCASS ” are redacted and
not all details of applications are disclosed in this announcement.
Despatch/Collection of Share Certificates/e-Refund Payment Instructions/Refund Cheques
• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the White
Form eIPO service and who have been successfully or partially successfully allocated
Hong Kong Offer Shares and are eligible to collect Share certificates in person may
collect Share certificates from the Hong Kong Share Registrar, Computershare Hong Kong
Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen ’s
Road East, Wanchai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Wednesday, September
27, 2023 or such other date as notified by the Company in the newspapers as the date of
despatch/collection of Share certificates/e-Refund payment instructions/refund cheques.
• Applicants being an individual who is eligible for personal collection must not authorize
any other person to collect on their behalf. If you are a corporate applicant which is eligible
for personal collection, your authorized representative must bear a letter of authorization
from your corporation stamped with your corporation ’s chop. Both individuals and
authorized representatives must produce evidence of identity acceptable to our Hong Kong
Share Registrar at the time of collection.
• Applicants who apply for less than 1,000,000 Hong Kong Offer Shares through the White
Form eIPO service, will have their Share certificate(s) (where applicable) sent to the
address specified in their application instructions on or before Wednesday, September 27,
2023 by ordinary post and at their own risk.
• Wholly or partially successful applicants who applied by giving electronic application
instructions to HKSCC via CCASS will have their Share certificates issued in the name of
HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS Investor
Participant stock accounts or the stock accounts of their designated CCASS Participants
who gave electronic application instructions on their behalf on Wednesday, September
27, 2023.
• Applicants who applied through a designated CCASS Participant (other than a CCASS
Investor Participant) should check the number of Hong Kong Offer Shares allocated to
them with that CCASS Participant.


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• Applicants who applied as a CCASS Investor Participant by giving electronic application
instructions to HKSCC via CCASS may also check the number of Hong Kong Offer
Shares allocated to them and the amount of refund monies (if any) payable to them
via the CCASS Phone System at +852 2979 7888 and the CCASS Internet System
at  http://ip.ccass.com  (under the procedures contained in HKSCC ’s “An Operating Guide
for Investor Participants ” in effect from time to time). Immediately after the crediting of
the Hong Kong Offer Shares to the CCASS Investor Participant stock accounts and the
credit of refund monies to the CCASS Investor Participants bank accounts, HKSCC will
also make available to the CCASS Investor Participants an activity statement showing the
amount of Hong Kong Offer Shares credited to their CCASS Investor Participant stock
accounts and the refund amount credited to their respective designated bank accounts (if
any).
• Refund monies for applicants who have applied by giving electronic application
instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
designated bank accounts or the designated bank accounts of their brokers or custodians on
Wednesday, September 27, 2023.
• Share certificates will only become valid evidence of title at 8:00 a.m. on Thursday,
September 28, 2023, provided that the Global Offering has become unconditional in
all respects and neither the Hong Kong Underwriting Agreement nor the International
Underwriting Agreement has been terminated in accordance with their respective terms at
or before that time. Investors who trade Shares on the basis of publicly available allocation
details before the receipt of the Share certificates or before the Share certificates becoming
valid evidence of title do so entirely at their own risk.
• The Company will not issue any temporary documents of title in respect of the Offer
Shares and will not issue any receipt for application monies received.
Public Float
• 264,834,290 Shares, representing approximately 31.46% of the total issued share capital of
the Company will be held on the hands of the public immediately following the completion
of the Global Offering. Accordingly, the number of Shares in public hands represents
no less than 25% of the total issued share capital of the Company as required under
Rule 8.08(1)(a) of the Listing Rules. The Directors confirm that the three largest public
Shareholders do not hold more than 50% of the Shares held in public hands at the time of
the Listing in compliance with Rules 8.08(3) of the Listing Rules. The Directors confirm
that there will be at least 300 Shareholders at the time of the Listing in compliance with
Rule 8.08(2) of the Listing Rules.
Commencement of Dealings
• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
a.m. on Thursday, September 28, 2023 (Hong Kong time), dealings in the Shares on the
Stock Exchange are expected to commence at 9:00 a.m. on Thursday, September 28, 2023
(Hong Kong time). The Shares will be traded in board lots of 500 Shares each. The stock
code of the Shares is 9686.
In view of the high concentration of shareholding in a small number of Shareholders,
Shareholders and prospective investors should be aware that the price of the Shares could
move substantially even with a small number of Shares traded and should exercise extreme
caution when dealing in Shares.


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OFFER PRICE
The Offer Price has been determined at HK$4.76 per Offer Share (exclusive of brokerage of 1.0%,
SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
fee of 0.00565%).
NET PROCEEDS FROM THE GLOBAL OFFERING
Based on the Offer Price of HK$4.76 per Offer Share, the net proceeds from the Global Offering
to be received by the Company, after deduction of the underwriting fees and commissions and
the other estimated expenses payable by the Company in connection with the Global Offering,
are estimated to be approximately HK$554.5 million. The estimated total listing expenses are
approximately HK$82.4 million, or 12.9% of the gross proceeds of the Global Offering, comprising
HK$21.6 million underwriting related expenses, HK$40.2 million fees and expenses of legal
advisors and Reporting Accountants, and HK$20.6 million other fees and expenses. The Company
intends to use the net proceeds from the Global Offering in the manner as set out in the paragraph
headed “Net Proceeds from the Global Offering ” in this announcement.
As no over-allocation of International Offer Shares has been made, the Over-allotment Option has
not been and will not be exercised, and no additional proceeds are expected to be received by the
Company in this connection.
The Company intends to apply the net proceeds as follows:
(i) Approximately 30% of the net proceeds, or HK$166.3 million, for expansion of city-
specific cloud hospital platforms to enlarge our medical networks and user base. We plan
to further expand our cloud hospital network to new cities and enrich our service offerings
and capabilities on our existing city-specific cloud hospital platforms, thereby enlarging
our network of medical institutions and attracting new and maintaining existing users. In
particular, we plan to allocate:
• approximately 12% of the net proceeds, or HK$66.5 million, in the next three to five
years, for increasing penetration of our city-specific cloud hospital platforms to more
cities such as the Yangtze River Delta, Pearl River Delta, the Beijing-Tianjin-Hebei
Metropolitan Region, and Central and Western China;
• approximately 18% of the net proceeds, or HK$99.8 million, in the next three to five
years, for strengthening our business development capabilities and designing, promoting
and implementing cloud hospital platforms, to attract more medical institutions, in
particular large hospitals;


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(ii) Approximately 25% of the net proceeds, or HK$138.6 million, for enriching our offerings
across the industry value chain to provide more professional and diversified healthcare
services. We aim to further strengthen our collaborations with medical specialists of different
areas at top medical institutions, and enhance and diversify our medical specialty-based
service offerings to address the diversified needs of patients, thereby further improving their
experience and enlarging the user base of our cloud hospital platforms. In particular, we plan
to allocate:
• approximately 10% of the net proceeds, or HK$55.4 million, in the next three to five
years, for enhancing our collaborations with renowned medical specialists and medical
groups to develop more medical specialty-based solutions and services, and recruiting
professional operations talents to promote and market our medical specialty-based
service offerings;
• approximately 15% of the net proceeds, or HK$83.2 million, in the next three to five
years, for diversifying service offerings to end patients and healthcare consumers and
increasing efforts to market and promote our brand and raise awareness of our service
offerings, to improve user stickiness and recognition of our cloud hospital platforms;
(iii) Approximately 25% of the net proceeds, or HK$138.6 million, for research and development
on technology infrastructure and data capabilities. We plan to continually improve the
technology infrastructure of our platforms and our data processing and security capabilities.
We intend to increase investments in research and development to enhance the security,
reliability and flexibility of our cloud hospital platforms. We also intend to continually
integrate big data analytics, AI and blockchain technology to our platforms to further enhance
our service capabilities. In particular, we plan to allocate:
• Approximately 10% of the net proceeds, or HK$55.4 million, in the next three to five
years, for continuously investing in and upgrading our cloud-based infrastructure.
We intend to upgrade our cloud-based infrastructure through enhancing its security,
reliability and flexibility via integration of advanced technology;
• Approximately 10% of the net proceeds, or HK$55.4 million, in the next three to five
years, for recruiting and training top engineers and technical experts, and purchasing
and integrating third-party technology, to continuously reinforce our data analytical
capabilities, including big data and AI. In particular, we intend to recruit approximately
100 top engineers and technical experts;
• Approximately 5% of the net proceeds, or HK$27.7 million, in the next three to five
years, for development and application of technology to our cloud hospital platforms to
improve our medical service quality controls and data security capabilities;
(iv) Approximately 10% of the net proceeds, or HK$55.4 million, in the next three to five years,
for potential mergers and acquisitions opportunities. We plan to enrich the healthcare service
offerings on our platforms through strategic cooperation and mergers and acquisitions, so as
to create additional value for stakeholders of the healthcare system;
(v) Approximately 10% of the net proceeds, or HK$55.4 million, will be used for our working
capital and general corporate purposes.
For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
the Prospectus.


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APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
PUBLIC OFFERING
The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
under-subscribed. At the close of the application lists at 12:00 noon on Thursday, September 21,
2023, a total of 2,299 valid applications have been received pursuant to the Hong Kong Public
Offering through the White Form eIPO service and through the CCASS EIPO service for a total
of 11,995,500 Hong Kong Offer Shares, representing approximately 0.9 times of the total number
of 13,381,000 Hong Kong Offer Shares initially available for subscription under the Hong Kong
Public Offering, among which:
• 2,297 valid applications in respect of a total of 6,995,500 Hong Kong Offer Shares were
for the Hong Kong Public Offering with an aggregate subscription amount based on the
maximum Offer Price of HK$5.91 per Offer Share (excluding brokerage of 1%, SFC
transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
trading fee of 0.00565%) of HK$5 million or less, representing approximately 1.05 times of
the 6,690,500 Hong Kong Offer Shares initially comprised in Pool A; and
• 2 valid applications in respect of a total of 5,000,000 Hong Kong Offer Shares were for the
Hong Kong Public Offering with an aggregate subscription amount based on the maximum
Offer Price of HK$5.91 per Offer Share (excluding brokerage of 1%, SFC transaction levy of
0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%)
of more than HK$5 million, representing approximately 0.75 times of the 6,690,500 Hong
Kong Offer Shares initially comprised in Pool B.
No application has been rejected due to invalid application. No multiple or suspected multiple
applications has been identified and rejected. No application has been rejected due to dishonored
payment. No application for more than 6,690,500 Hong Kong Offer Shares (being 50% of the Hong
Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
Due to the under-subscription in the Hong Kong Public Offering, the reallocation procedures as
described in the section headed “Structure of the Global Offering ” in the Prospectus have been
effected, and total number of 1,385,500 Hong Kong Offer Shares have been reallocated from the
Hong Kong Public Offering to the International Offering, representing approximately 1.04% of
the total number of Offer Shares initially available under the Global Offering. As a result of such
reallocation, the final number of Offer Shares allocated to the Hong Kong Public Offering has
been reduced to 11,995,500 Offer Shares, representing 8.96% of the total number of Offer Shares
initially available under the Global Offering. The Sole Sponsor and the Sole Overall Coordinator
and each of the Directors confirm that the Allocation Cap has not been exceeded.
The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
basis set out in the paragraph headed “Basis of Allocation under the Hong Kong Public Offering ”
below.


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INTERNATIONAL OFFERING
The Offer Shares initially offered under the International Offering have been slightly over-
subscribed by approximately 1.15 times of the total number of Offer Shares initially available
under the International Offering. The final number of Offer Shares under the International Offering
is 121,810,000 Shares, representing approximately 91.04% of the total number of Offer Shares
initially available under the Global Offering. There has been no over-allocation in the International
Offering.
There are a total number of 106 placees under the International Offering, among which (i) 96
placees, representing 90.57% of the total number of placees under the International Offering,
have been allotted five or fewer board lots of Offer Shares, totaling 49,500 Shares, representing
0.04% of the total number of Offer Shares available under the International Offering; and (ii) 94
placees have been allotted one board lot of Offer Shares, representing approximately 88.68% of
the total number of placees under the International Offering, totalling 47,000 Shares, representing
approximately 0.04% of the total number of the Offer Shares available under the International
Offering.
To the best knowledge, information and belief of the Directors, no Offer Shares placed by or
through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint Bookrunners, the
Joint Lead Managers, the CMIs or the Underwriters under the Global Offering have been placed
with applicants who are core connected persons (as defined in the Listing Rules) of the Company,
or to any connected clients (as set out in paragraph 5(1) of the Placing Guidelines), whether in
their own names or through nominees. The International Offering is in compliance with the Placing
Guidelines.
Cornerstone Investors
Based on the Offer Price of HK$4.76 per Offer Share (exclusive of brokerage of 1%, SFC
transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee
of 0.00565%) and pursuant to the Cornerstone Investment Agreements as disclosed in the section
headed “Cornerstone Investors ” in the Prospectus, the number of Offer Shares subscribed for by
the Cornerstone Investors is determined as set out below:
Cornerstone Investor
Investment
Amount
Number of
Offer Shares
Approximate
% of total
number of
Offer Shares
Approximate
% of total
Shares in issue
immediately
following
completion
of Global
Offering
(US$ in million) (rounded
down to
nearest
whole board
lot of 500
Shares)
Ningbo Industrial Fund 7.65 12,594,000 9.41% 1.50%
Haishu Investment 7.65 12,594,000 9.41% 1.50%
INFO EXPERT 13.00 21,404,000 16.00% 2.54%
Total 28.30 46,592,000 34.82% 5.53%
Note:
(1) The percentage figures set out in the table above are subject to rounding adjustments.


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To the best of the knowledge, information and belief of the Company, (i) the Cornerstone
Investors and the respective qualified domestic institutional investors are independent of the
Company, its connected persons and their respective associates; (ii) none of the Cornerstone
Investor is accustomed to take and has not taken instructions from the Company, the Directors,
chief executive, substantial Shareholders or existing Shareholders of the Company or any of its
subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
other disposition of the Offer Shares; (iii) none of the subscription of the Offer Shares by the
Cornerstone Investors is financed by the Company, the Directors, chief executive, substantial
Shareholders or existing Shareholders of the Company or any of its subsidiaries or their respective
close associates; and (iv) the Cornerstone Investors make independent investment decisions, and
their subscription under the Cornerstone Investment Agreements would be financed by their own
internal resources.
Each of the Cornerstone Investor has confirmed that all necessary approvals have been obtained
with respect to the Cornerstone Placing, and that no specific approval from any stock exchange (if
relevant) or its shareholders is required for the relevant cornerstone investment.
The Cornerstone Placing will form part of the International Offering, and the Cornerstone Investors
will not acquire any Offer Shares under the Global Offering other than pursuant to the Cornerstone
Investment Agreements. The Offer Shares to be subscribed by the Cornerstone Investors will rank
pari passu in all respect with the fully paid Shares in issue and will be counted towards the public
float of our Company under Rule 8.08 of the Listing Rules. Immediately following the completion
of the Global Offering, none of the Cornerstone Investors will have any Board representation in
our Company; and none of the Cornerstone Investors will become a substantial shareholder of our
Company. The Cornerstone Investors do not have any preferential rights under the Cornerstone
Investment Agreements compared with other public Shareholders, other than a guaranteed
allocation of the relevant Offer Shares at the Offer Price.
There are no side arrangements between our Company and the Cornerstone Investors or any
benefit, direct or indirect, conferred on the Cornerstone Investors by virtue of or in relation to the
Cornerstone Placing. There will be no delayed delivery or deferred settlement of Offer Shares to be
subscribed by the Cornerstone Investors pursuant to the Cornerstone Investment Agreements and
the payment for the Offer Shares subscribed by the Cornerstone Investors will be settled and paid
in full before dealings in the Offer Shares commence on the Stock Exchange.
Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at any
time during the period of twelve months from the Listing Date, dispose of any of the Offer Shares
they have purchased pursuant to the relevant Cornerstone Investment Agreement, save for certain
limited circumstances, such as transfers to any of its wholly-owned subsidiaries who will be bound
by the same obligations of such Cornerstone Investor, including such lock-up period restriction.
Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details
relating to the Cornerstone Investors.


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14
Compliance with Placing Guidelines of the Listing Rules
We confirm that, to the best of our knowledge, information and belief, no Offer Shares placed
by or through the Sole Overall Coordinator, Joint Global Coordinators, the Joint Bookrunners,
the Joint Lead Managers, the CMIs or the Underwriters under the Global Offering have been
placed with (i) any core connected persons of the Company, (ii) any existing Shareholders of
the Company, or (iii) their respective close associates whether in their own names or through
nominees.
None of the Sole Sponsor, the Sole Overall Coordinator, the Joint Global Coordinators, the Joint
Bookrunners, the Joint Lead Managers, the CMIs, the Underwriters and their respective affiliated
companies and connected clients of the lead broker or of any distributors (as defined in the Placing
Guidelines) has taken up any Offer Shares for its own benefit under the Global Offering.
The Directors confirm that immediately after the Global Offering, (i) no placee will, individually,
be placed more than 10% of the enlarged issued share capital of the Company, (ii) there will not
be any new substantial shareholder (as defined in the Listing Rules) of the Company, (iii) the three
largest public Shareholders do not hold more than 50% of the shares held in public hands at the
time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules, and (iv) there
will be at least 300 Shareholders at the time of the Listing in compliance with Rule 8.08(2) of the
Listing Rules.
The Directors confirm that, to the best of their knowledge, information and belief and having made
all reasonable enquiries, no Offer Shares under the International Offering have been allocated to
placees who are Directors, chief executive, substantial Shareholders or existing Shareholders of the
Company or any of its subsidiaries or their respective close associates within the meaning of the
Listing Rules, whether in their own names or through nominees, and that all placees and the public
who have subscribed for the Offer Shares and their beneficial owners are independent of and not
connected with the Company.


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15
Confirmations of Public Shareholders in the Hong Kong Public Offering and Placees in the
International Offering
To the best knowledge, information and belief of the Directors, no Offer Shares placed by or
through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint Bookrunners, the
Joint Lead Managers, the CMIs and the Underwriters under the Global Offering have been placed
with any core connected person (as defined in the Listing Rules) of the Company, or any connected
clients (as set out in paragraph 5(1) of the Placing Guidelines) or persons set out in paragraph 5(2)
of the Placing Guidelines, whether in their own names or through nominees. The International
Offering is in compliance with the Placing Guidelines.
The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering and placees in
the International Offering has been financed directly or indirectly by the Company, the Directors,
chief executive, substantial Shareholders or existing Shareholders of the Company or any of its
subsidiaries or their respective close associates; (ii) no rebate has been, directly or indirectly,
provided by the Company, the Directors, chief executive, substantial Shareholders or existing
Shareholders of the Company or any of its subsidiaries or their respective close associates or
syndicate members or any other brokers or underwriters to any public Shareholders in the Hong
Kong Public Offering or placees in the International Offering; (iii) none of the public Shareholders
in the Hong Kong Public Offering and placees in the International Offering who has subscribed
for the Offer Shares is accustomed to taking instructions from the Company, the Directors,
chief executive, substantial Shareholders or existing Shareholders of the Company or any of its
subsidiaries or their respective close associates in relation to the acquisition, disposal, voting
or other disposition of the Shares registered in his/her/its name or otherwise held by him/her/it;
(iv) the consideration payable by the public Shareholders in the Hong Kong Public Offering and
placees in the International Offering for each Share subscribed for or purchased by them is the
same as the final Offer Price as determined by the Company, in additional to brokerage of 1.0%,
SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
fee of 0.00565%; and (v) there is no side agreement or arrangement between the Company, any of
the Directors, chief executive, substantial Shareholders or existing Shareholders of the Company
or any of its subsidiaries or their respective close associates or syndicate members or any other
brokers or underwriters, on one hand, and the public subscribers or the placee who has subscribed
for the Offer Shares, on the other hand.
The Directors confirm that, to the best of their knowledge and information, none of the placees
under the International Placing will be placed more than 10% of the enlarged issued share capital
of the Company immediately following completion of the Share Subdivision and the Global
Offering. Accordingly, the Directors confirm that there will not be any new substantial Shareholder
of the Company immediately following completion of the Share Subdivision and the Global
Offering.
Over-allotment Option
The Sole Overall Coordinator confirmed that no over-allocation of International Offer Shares has
been made and the stock borrowing agreement will not be entered into. In view of the fact that
there has been no over-allocation in the International Offering, no stabilising action as described in
the Prospectus will take place during the stabilisation period. As of the date of this announcement,
the Overallotment Option has not been exercised and the Over-allotment Option will be lapsed
and will not be exercised as no over-allocation of the Offer Shares was made in the International
Offering.


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16
LOCK-UP UNDERTAKINGS
The Company, the Cornerstone Investors and certain existing Shareholders have given certain
undertakings in relation to the issue or disposal of Shares (the “Lock-up Undertakings ”),
respectively. The major terms of the Lock-Up Undertakings are set out as follows:
Name
Number of
Lock-up Shares
held in
the Company
subject to
the Lock-up
Undertakings
upon Listing
Percentage of
shareholding in
the Company
subject to
the Lock-up
Undertakings
upon Listing (1)
Last day subject
to the Lock-up
Undertakings
The Company (subject to lock-up obligations pursuant
to the Listing Rules and the Hong Kong Underwriting
Agreement)
N/A N/A March 27, 2024 (2)
Certain existing Shareholders (subject to lock-up
 obligations pursuant to separate lock-up undertakings)
Neusoft (HK) (3) 199,213,210 23.66% March 27, 2024
Smartwave (3) 76,500,000 8.88% March 27, 2024
Dongkong International Fifth (3) 68,384,305 8.12% March 27, 2024
Dongkong International Seventh (3) 22,100,000 2.63% March 27, 2024
KangRich (3) 22,145,000 2.63% March 27, 2024
Kingset Ventures (3) 86,700,000 10.30% March 27, 2024
First Care (3) 64,728,790 7.69% March 27, 2024
Syn Invest (3) 42,500,000 5.05% March 27, 2024
Alps Alpine (3) 6,800,000 0.81% March 27, 2024
Subtotal 589,071,305 69.97%
Cornerstone Investors  (subject to lock-up obligations
 pursuant to the Cornerstone Investment Agreements)
Ningbo Industrial Fund (4) 12,594,000 1.50% September 27, 2024
Haishu Investment (4) 12,594,000 1.50% September 27, 2024
INFO EXPERT (4) 21,404,000 2.54% September 27, 2024
Subtotal 46,592,000 5.53%
Notes:
(1) Assuming the options granted under the Pre-IPO SOS are not exercised, and no options are granted under the
Post-IPO SOS.
(2) The Company may issue Shares without any lock-up obligation after the indicated date.
(3) After the date indicated, the respective lock-up undertaking shall no longer apply and the relevant Shareholders
shall be entitled to deal in the Shares without being subject to the same.
(4) The number of Shares set out here only took into account the number of Shares acquired under the relevant
Cornerstone Investment Agreements.
(5) The percentage figures set out in the table above are subject to rounding adjustments.


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17
BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of the
Global Offering {  Conditions of the Global Offering ” in the Prospectus, 2,299 valid applications
made by the public through the White Form eIPO service and the CCASS EIPO service will be
conditionally allocated on the basis set out below:
Number of
Shares
applied for
Number
of valid
applications Basis of allotment/ballot
Approximate
percentage
allotted of
the total
number
of Shares
applied for
POOL A
500 1,423 500 Shares 100.00%
1,000 190 1,000 Shares 100.00%
1,500 297 1,500 Shares 100.00%
2,000 65 2,000 Shares 100.00%
2,500 32 2,500 Shares 100.00%
3,000 20 3,000 Shares 100.00%
3,500 19 3,500 Shares 100.00%
4,000 9 4,000 Shares 100.00%
4,500 4 4,500 Shares 100.00%
5,000 54 5,000 Shares 100.00%
6,000 14 6,000 Shares 100.00%
7,000 5 7,000 Shares 100.00%
8,000 59 8,000 Shares 100.00%
9,000 8 9,000 Shares 100.00%
10,000 23 10,000 Shares 100.00%
15,000 13 15,000 Shares 100.00%
20,000 15 20,000 Shares 100.00%
25,000 3 25,000 Shares 100.00%
30,000 18 30,000 Shares 100.00%
35,000 9 35,000 Shares 100.00%
40,000 1 40,000 Shares 100.00%
50,000 6 50,000 Shares 100.00%
60,000 1 60,000 Shares 100.00%
80,000 1 80,000 Shares 100.00%
90,000 1 90,000 Shares 100.00%
100,000 2 100,000 Shares 100.00%
200,000 1 200,000 Shares 100.00%
400,000 3 400,000 Shares 100.00%
500,000 1 500,000 Shares 100.00%
2,297 Total number of Pool A successful applicants: 2,297


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18
Number of
Shares
applied for
Number
of valid
applications Basis of allotment/ballot
Approximate
percentage
allotted of
the total
number
of Shares
applied for
POOL B
2,000,000 1 2,000,000 Shares 100.00%
3,000,000 1 3,000,000 Shares 100.00%
2 Total number of Pool B successful applicants: 2

The final number of Offer Shares under the Hong Kong Public Offering is 11,995,500 Offer
Shares, representing approximately 8.96% of the total number of Offer Shares initially available
under the Global Offering.
RESULTS OF ALLOCATIONS
Results of allocations of the Hong Kong Offer Shares in the Hong Kong Public Offering,
including the level of indications of interest in the International Offering, the level of applications
in the Hong Kong Public Offering and the basis of allocation of the Hong Kong Offer Shares
will be published on Wednesday, September 27, 2023 on the website of the Stock Exchange at
www.hkexnews.hk  and the Company ’s website at www.xikang.com .
The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
successfully applied for through the White Form eIPO service or through the CCASS EIPO
service, including the Hong Kong identity card numbers, passport numbers or Hong Kong business
registration numbers of successful applicants (where applicable) and the number of the Hong Kong
Offer Shares successfully applied for, will be made available at the times and dates and in the
manner specified below:
• in the announcement to be posted on the Company ’s website and the Stock Exchange ’s
website at https://www.xikang.com  and www.hkexnews.hk , respectively, by no later than
8:00 a.m. on Wednesday, September 27, 2023;
• from the designated results of allocations website at www.iporesults.com.hk
(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function on a 24-hour
basis from 8:00 a.m. on Wednesday, September 27, 2023 to 12:00 midnight on Tuesday,
October 3, 2023; and
• from the allocation results telephone enquiry line by calling +852 2862 8555 between 9:00
a.m. and 6:00 p.m. from Wednesday, September 27, 2023 to Tuesday, October 3, 2023
(excluding Saturday, Sunday and public holiday).


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19
This announcement contains a list of identification document numbers. Identification document
numbers shown in the section headed “Results of Applications Made by White Form eIPO ” refer
to Hong Kong identity card numbers/passport numbers/Hong Kong business registration numbers/
certificate of incorporation numbers/beneficial owner identification codes (if such applications
are made by nominees as agent for the benefit of another person) whereas those displayed in the
section headed “Results of Applications Made by Giving Electronic Application Instructions
to HKSCC via CCASS ” are provided by CCASS Participants via CCASS. Therefore, the
identification document numbers shown in the two sections are different in nature.
Please note that the list of identification document numbers set out in this announcement may not
be a complete list of successful applicants since only successful applicants whose identification
document numbers are provided to HKSCC by CCASS Participants are disclosed. Applicants with
beneficial names only but not identification document numbers are not disclosed due to personal
privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer Shares
through their brokers can consult their brokers to enquire about their application results.
Since applications are subject to personal information collection statements, beneficial owner
identification codes displayed in the sections headed “Results of Applications Made by Giving
Electronic Application Instructions to HKSCC via CCASS ” are redacted and not all details of
applications are disclosed in this announcement.
SHAREHOLDING CONCENTRATION ANALYSIS
A summary of allotment results under the International Offering is set out below:
• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
Placee (1) Subscription
Shares held
following
the Global
Offering
Subscription
as % of
International
Placing
Shares
Subscription
as % of total
Offer Shares
% of the total
issued Shares
Top 1 25,188,000 25,188,000 20.68% 18.82% 2.99%
Top 5 101,672,000 101,672,000 83.47% 75.98% 12.08%
Top 10 121,760,500 121,760,500 99.96% 91.00% 14.46%
Top 20 121,767,000 121,767,000 99.96% 91.00% 14.46%
Top 25 121,769,500 121,769,500 99.97% 91.00% 14.46%
Note:
(1) The subscriptions made by Ningbo Industrial Fund and Haishu Investment are aggregated as subscription
from one placee.


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20
• Top 1, 5, 10, 20 and 25 of Shareholders upon Listing:
Shareholder(s) (1) Subscription
Shares held
following
the Global
Offering
Subscription
as % of
International
Placing
Shares (2)
Subscription
as % of total
Offer Shares
% of the total
issued Shares
Top 1 – 199,213,210 – 0.00% 23.66%
Top 5 – 619,626,305 – 0.00% 73.60%
Top 10 69,223,000 753,494,305 56.83% 51.73% 89.50%
Top 20 127,329,500 835,400,805 99.69% 95.16% 99.23%
Top 25 128,594,500 836,665,805 99.82% 96.11% 99.38%
Notes:
(1) The subscriptions made by Ningbo Industrial Fund and Haishu Investment are aggregated as subscription
from one placee.
(2) Represents the subscription level as a percentage of the total number of Shares allocated under the
International Offering without taking into account the subscription by successful applicants under the
Hong Kong Public Offering.
In view of the high concentration of shareholding in a small number of Shareholders,
Shareholders and prospective investors should be aware that the price of the Shares could
move substantially even with a small number of Shares trade and should exercise extreme
caution when dealing in Shares.