shanghai kindly medical (our company) has been focusing on coronary intervention sector since foundation in 2006.  our company has become one of the domestic leading corporations in coronary intervention sector after more than 10 years’ development. our shareholding company, shanghai kindly enterprise development co., ltd. (kdl group) focuses mainly on puncture instruments which is different from our main business. the employee structure, business sector, financial department, asset management, r&d department, and sale forces are independent with each other between our company and kdl group.
based on the strategic development, overseas m&a needs, and internationalization of kdl group, kdl group’s board of directors approved “the proposal of granting managers to start the spin-off process for the subsidiary to be listed on hkex”, on december 12, 2018, and granted the permission for the managers in kdl group and our company to start related processes in spin-off.