About JXR Company

The Group is a leading supplier of ARS in China and the US. With the Group's leading position in the existing markets in China and the US, the Group has a unique advantage to seize the unmet needs of ARS patients in China and the US and the growth opportunities in both markets. The Group is committed to providing patients with personalized solutions to fulfill their dream of becoming parents. The Group has established competitive advantages in brand, technology, medical teams and management in markets with significant barriers to entry. All hospitals established within the Group's network are recognized as first-class in their respective regional markets (including but not limited to Sichuan Province, the Greater Bay Area, Yunnan Province and the Western US), which helps the Group to take a leading position in the ARS market in China and the US. In 2021, the Group acquired Sichuan Jinxin Xinan Hospital (Jingxiu Hospital), Hong Kong Fertility and Health Center (brand name: Thanksgiving Medical Center) and Hong Kong Assisted Reproduction Center to expand its footprint in Sichuan Province and the Greater Bay Area, and expand its scope of services to provide services throughout the childbearing cycle, including pregnancy preparation, IVF, antenatal, delivery and post-natal services. The Group acquired a new property in February 2022. It will be officially put into operation in the first half of 2025 for use by Shenzhen Zhongshan Hospital, with a view to seizing the expected growth and growing demand for ARS and expanding capacity in Shenzhen and the Greater Bay Area by improving space and environmental factors and expanding VIP services to meet the diverse needs of patients. The Group has also completed the acquisition of controlling interests in Jiuzhou Hospital and Wanjia Hospital, thereby further expanding the company's market share and influence in southwest China. At the end of 2022, the Group underwent internal restructuring to enable Sichuan Jinxin Xinan Hospital (Jingxiu Campus) to further expand its scope of services and provide medical services involving molecular genetic services, that is, cutting-edge technology for prenatal testing, in accordance with applicable Chinese law. In April 2023, Chengdu Xinan Clinic and Sichuan Jinxin Xinan Hospital (Jingxiu Campus) merged their ARS related medical license to Sichuan Jinxin Xinan Hospital. With excellent medical quality and service experience, they have established an excellent reputation and enhanced market influence in ARS, obstetrics and gynecology businesses. We expect this initiative will promote synergy between the two hospitals and further strengthen the Group's competitiveness and reputation. As part of our growth strategy, HRC Medical has been attracting and recruiting new doctors to strengthen its business development and market share in the US ARS industry. In 2023, HRC Medical successfully recruited 6 new doctors. Of these, 3 doctors will start practicing at HRC Medical in 2023, and 3 doctors will join the company within the next 1 to 2 years. HRC Management continues to collaborate with the University of Southern California (“USC”) (a leading private research university in the US) and Keck Medical School's Department of Reproductive and Infertility Endocrinology and Fertility Medicine business (“USC Fertility”). Our collaboration with USC Fertility deepened, including (i) USC Fertility physicians practising and providing clinical services at the Pasadena Clinic under HRC Management; (ii) with the support of HRC, the number of doctors participating in the USC scholarship program increased from 2 to 4 to train more doctors; and (iii) HRC Management and USC Fertility jointly established Research. The Group anticipates that the penetration rate and market size of assisted reproduction services in China will increase significantly as the Chinese government implements support policies and support measures to encourage childbearing. In July 2021, the CPC Central Committee and the State Council issued the “Decision on Optimizing Fertility Policies to Promote Long-term Balanced Population Development”. According to this, couples are allowed to have up to three children, and support measures covering various areas are currently being introduced to encourage childbearing. The National Health Commission issued the “Human Assisted Reproduction Technology Application Plan (2015-2020)”, which aims to promote the healthy and orderly development of the reproductive medicine industry to meet market demand. According to a recent response from the National Health Commission, it has initiated the revision of administrative measures, basic standards and technical specifications relating to assisted reproductive technology to establish and improve legal egg donation and storage channels. In August 2022, 17 departments including the National Health Commission issued the “Guiding Opinions on Further Improving and Implementing Active Maternity Support Measures” to guide local governments to comprehensively consider factors such as the affordability of health insurance (including maternity insurance) funds and related technical regulations, and gradually include appropriate delivery analgesia and assisted reproductive technology projects in the scope of fund payments in accordance with procedures.