HONG KONG, Sept. 17, 2015 /PRNewswire/ -- Universal Health International Group Holding Limited ("UNI HEALTH"; stock code: 2211) announced that Mr. Jin Dongtao, Chairman of UNI HEALTH has proposed to purchase shares of the Company equivalent to more than HK$50 million, and will seek further opportunities to purchase additional shares of the Company based on the conditions of the capital market.
In the first half of this year, the Group recorded net profit of RMB245 million, representing an increase of 9.33% year on year. Since this June, sharp changes have occurred in the global stock markets, however the share price of the Group has achieved stable performance: the P/E ratio stands at less than 9, while the valuation of the Group is significantly lower than its listed peers.
Analysts commented, if the valuation of UNI HEALTH can rise to the level of its peers, the stock price is expected to double, and is hopeful to reach HK$6.5, the highest target price set by Morgan Stanley. Everbright Securities also raised the target price of UNI HEALTH to HK$4.5, representing an over 70% potential gain.
Under such circumstances, the substantial purchase by Chairman Jin Dongtao shows his confidence in the development trend of the universal healthcare industry in China and globally.
This April, Mr. Jin Dongtao, purchased 40,000,000 ordinary shares of the Company, representing 2% of the existing entire issued share capital of the Company at HK$2.82 per share with the approximate total amount of HK$113 million and the stock price of UNI HEALTH significantly increased by over 70%.
The Group will continue to pay close attention to movements of its stock price and changes in the capital market, and seek further opportunities to purchase additional shares of the Company in the next year.
J.P. Morgan, as one of the substantial shareholders of the Group, purchased 18,927,000 shares with the total amount of HK$58.01 million. After such purchase, J.P. Morgan's ownership is now 147 million shares or 7.36% of the issued share capital of the Company.
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SOURCE Universal Health International Group Holding Limited