Matters: Phoenix Co., Ltd. Announcement: In order to steadily advance the development strategy of the old-age care industry, major shareholders, listed companies, Jiangsu Provincial People's Hospital and Jiangsu Renyi Hospital Investment Management Co., Ltd. recently signed a strategic cooperation agreement to jointly develop the health care industry. The two sides will closely focus on various forms of cooperation on the health care industry. Comment: Overview of Jiangsu Provincial People's Hospital (Source: official website, compiled by Guoxin Securities Research Institute) Jiangsu Provincial People's Hospital, First Affiliated Hospital of Nanjing Medical University, Jiangsu Institute of Clinical Medicine, Jiangsu Red Cross Hospital. Its predecessor was the medical clinic attached to the Jiangsu Provincial College of Medicine and Administration, which was established in 1936, and now has a history of more than 70 years. The hospital is currently the largest tertiary grade A general hospital in Jiangsu Province, and is responsible for the three central tasks of medical treatment, teaching, and scientific research throughout the province. The hospital covers an area of 300 acres and currently has a construction area of 270,000 square meters; total fixed assets of 2 billion yuan; currently, 3,000 beds have actually been opened, and more than 4,000 employees have been opened. The hospital's current administrative affiliation is under the direct management of the Jiangsu Provincial Department of Health, and the party affairs affiliation is under the direct control of the Party Committee of Nanjing Medical University. The hospital has complete clinical medical technology departments, and key departments have remarkable technical characteristics. It has 1 academician from the Chinese Academy of Engineering, Professor Wang Xuehao of the Liver Transplantation Center; 1 national key subject, cardiovascular disease; 12 national key clinical specialty construction units, namely cardiovascular medicine, hematology, endocrinology, gastroenterology, laboratory medicine, gynecology and reproductive medicine, clinical nursing, occupational diseases, general surgery, urology, respiratory medicine, liver transplantation laboratories; 1 key laboratory of the Ministry of Health; 1 key laboratory for living liver transplantation; 4 provincial key disciplines; 4 provincial “science, education, and health” engineering centers 2. Provincial “Science, Education, and Health” Engineering Medicine There are 16 key disciplines (laboratories), 5 provincial medical diagnosis and treatment centers, and 23 provincial key clinical specialties. Hospitals are first-level clinical medical doctorate points, clinical medicine postdoctoral research mobile stations, and clinical medical doctorate and master's degree awarding points. The First Clinical Medical College of Nanjing Medical University is located within the hospital. There are 5 departments, 45 departments, and more than 200 teachers working in clinical medicine and teaching at the hospital. Overview of Jiangsu Renyi Hospital Investment Management Co., Ltd. (Source: Baidu, compiled by Guoxin Securities Research Institute) Jiangsu Renyi Hospital Investment Management Co., Ltd. is a private enterprise specializing in hospital investment and management. It aims to provide professional and comprehensive hospital investment management and consulting services in the medical and health sector, and provide solutions for hospital design and implementation of international professional hospital service management, so as to guide Chinese medical and health institutions to accelerate adaptation to the growing health needs of Chinese citizens, integrate with the international hospital management model as soon as possible, enhance the core competitiveness of hospitals in serving the public, and improve the quality of hospital services. Jiangsu Renyi Hospital Investment Management Co., Ltd. has built a professional team composed of professional hospital managers and a hospital investment management team with the support of high-quality elements such as talent, capital, and experience. The company's senior managers all have rich experience in hospital management consulting and practical operation experience in hospital acquisitions and mergers. Through the company's team of Chinese and foreign experts, we assist hospitals to complete high-quality services in hospital management strategies, hospital process reengineering, hospital marketing planning, hospital financial management, and training and exchange of hospital professionals, bringing a new business model, advanced management concepts, and world-class medical science and technology to the Chinese medical industry. Jiangsu Renyi Hospital Investment Management Co., Ltd. also provides a full range of services to medical institutions in need, such as medical project development and cooperation, medical equipment technology development and leasing, hospital hosting and investment in hospitals. Optimistic about the prospects of the big health care industry, the pace of the company's transformation is solid and strong, and the recommended ratings have been maintained. I published the company research report “Cultural Real Estate Pioneer, Emerging Pension Industry” on January 14. I am optimistic that the company's main business will transform in a direction that is in line with the trends of the times, and believe that the company is an upstart in the pension industry. On February 18, a series of in-depth reports on the elderly care industry was published (1) -- “Dependent on old age, who can you rely on?” It believes that China's “institutional pension industry” has broad room for development in the future. Furthermore, the participation of social capital in public hospital reform is an important part of medical reform. “Encourage social capital to run medical treatment” is the word that has appeared most frequently in medical reform policies in the past year. Public hospital reform should be the general trend. Jiangsu Renyi Hospital Investment Management Co., Ltd., which participated in the current cooperation between Phoenix Co., Ltd. and Jiangsu Provincial People's Hospital, is an enterprise that can provide hospital investment consulting services and solutions. The signing of this tripartite cooperation agreement is bound to bring “once the provincial people's hospitals are restructured, Phoenix Investment” to A-share investors. And medical resources, as an indispensable support for the old-age care industry, will lay a solid foundation for the company's rapid development in the future of the old-age care industry. Without considering the impact of the pension industry on the company's performance, the company's EPS for 2013-14 is expected to be 0.30/0.60 yuan respectively, maintaining the “recommended” rating.