CMCDI Invests in iFlytek Healthcare for 60 Million Yuan

China Merchants China Direct Investments Limited ("CMCDI") announces that Shenzhen Tian Zheng Investment Co., Ltd. ("Tian Zheng"), a wholly-owned subsidiary of the company, entered into a share transfer agreement in relation to Anhui iFlytek Healthcare Information Technology Co., Ltd., ("iFlytek Healthcare"), pursuant to which Tian Zheng agrees to acquire 3% of the ordinary shares of iFlytek Healthcare from Anhui Iflytek Venture Capital LLP (a present shareholder of iFlytek Healthcare) for 60 million yuan.

While Iflytek Co., Ltd. ("Iflytek"), the A shares of which are listed on the Shenzhen Stock Exchange, is already a recognized leader in speech technologies, it has made recent advances in AI applications for healthcare. 

iFlytek Healthcare, iFlytek's healthcare division established in May 2016, is headed by CEO Dr. Tao Xiaodong, a veteran technologist of Philips and GE Healthcare who brings a wealth of expertise in medical imaging and computer-aided diagnostics. 

iFlytek Healthcare is a start-up healthcare technology company which adopts intelligent speech and AI technology to build government-oriented intelligent healthcare service platforms and hospital-oriented speech-to-text solutions, as well as to provide doctors with speech-to-text and computer-assisted diagnosis system, so as to achieve an integration of regional healthcare data and provide doctors and patients with high-quality, convenient and efficient diagnosis and treatment services.

Based on its advanced technology in speech recognition and cognitive intelligence, iFlytek Healthcare has developed two relatively comprehensive software and hardware solutions, namely "Intelligent Doctor Assistant" and "Smart Hospital", for the primary care doctors and hospital specialists respectively.

iFlytek Healthcare has deployed its AI capability in over 50 hospitals in its native Anhui Province, China, to provide support to general practitioners in diagnosis and treatment, and in interpreting medical images including breast imaging. 

CMCDI is an investment company traded on the Hong Kong Stock Exchange. The company specializes in investing in China. Its investment objective is to acquire quality investments in China, principally in unlisted enterprises.