Yonghe Intelligent Control sells its last hospital starting at 1 yuan, as cross-sector healthcare push rapidly recedes

Corporate Action

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Yonghe Intelligent Control is transferring its 70 percent stake in Liangshan High-Tech Oncology Hospital at a listing price of 1 yuan, drawing a line under its cross-sector healthcare strategy. The hospital was an asset the company acquired in December 2021 for 31.5 million yuan, and just one month ago the listing price was still 1.87 million yuan. Previously, the company's hospital stakes in Dazhou and Xi'an were both sold at a floor price of 1 yuan, with final transaction prices of just 101 yuan and 201 yuan respectively, while the Kunming hospital was sold for 16.683 million yuan, equivalent to a 15 percent discount on its 108 million yuan acquisition price. Yonghe Intelligent Control has posted losses for four consecutive years from 2022 to 2025, with cumulative losses of about 619 million yuan, and its hospitals have racked up combined losses of nearly 80 million yuan. The cross-sector hospital investment fever among listed companies is rapidly cooling. Shinva Medical has offloaded 11 hospitals in five years, DADONG FANG transferred its 80 percent stake in Jinhua Lianji Hospital for 1 yuan, and companies such as China Resources Sanjiu and Yibai Pharmaceutical have also been divesting hospital assets.