Wenzhou Kangning Hospital : CHANGE OF DIRECTOR AND CHANGE OF BOARD COMMITTEE MEMBER

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CHANGE OF DIRECTOR AND

CHANGE OF BOARD COMMITTEE MEMBER

RESIGNATION OF DIRECTOR

The board of directors (the "Board") of Wenzhou Kangning Hospital Co., Ltd. (the "Company") announces that, because Mr. LIN Lijun ("Mr. Lin") will not have sufficient time to devote to the business of the Company due to personal commitments and other work arrangements, he tendered his resignation as a non-executive director and a member of the strategy and risk management committee of the Board, which is effective from April 30, 2021. Mr. Lin has confirmed that he has no disagreement with the Company or the Board and there is no matter in relation to his resignation which needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.

The Board would like to express its sincere gratitude to Mr. Lin for his valuable contributions to the Company during his tenure of service.

PROPOSED APPOINTMENT OF NEW DIRECTOR

The nomination of Mr. QIN Hao ("Mr. Qin") as the candidate of a non-executive director of the Company and a member of the strategy and risk management committee of the Board was considered and approved at the Board meeting held on April 30, 2021, with a term commencing from the date of approval at the general meeting of the Company and ending on the expiry of the term of the third session of the Board.

The biographical details of Mr. Qin are as follows:

Mr. Qin, aged 31, joined Shanghai Loyal Valley Investment Management Co., Limited (上海正心 穀投資管理有限公司), a private equity investment company mainly invests in the fields of new

consumption, healthcare and advanced manufacturing, in June 2017. He currently serves as a senior investment manager and is mainly responsible for the investment in pharmaceutical and healthcare industry. Mr. Qin graduated from Peking University in June 2014 with a bachelor's degree in medicine. He graduated from Fudan University in June 2017 with a master's degree in finance.

The proposed appointment of Mr. Qin is subject to the approval by the shareholders at the general meeting. If the appointment is approved, Mr. Qin will enter into a service contract with the Company. Mr. Qin will not receive any remuneration from the Company.

1

Save as disclosed above, Mr. Qin does not hold any other positions with the Company or its subsidiaries as of the date of this announcement. Mr. Qin did not serve as a director in any listed companies in the past three years, and does not have any relationship with any directors, senior management, or substantial or controlling shareholders of the Company.

As of the date of this announcement, Mr. Qin has no interest in the shares of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Mr. Qin has never been subject to any penalty by China Securities Regulatory Commission or other related securities regulatory authorities or any stock exchange.

Save as disclosed above, the Board is not aware of any other information to be disclosed pursuant to Rule 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited or any other matter in relation to Mr. Qin that needs to be brought to the attention of the shareholders.

A circular containing, among others, the information in relation to the aforesaid nomination and a notice of the general meeting, will be dispatched to the shareholders of the Company as soon as practicable.

By Order of the Board

Wenzhou Kangning Hospital Co., Ltd.

GUAN Weili

Chairman

Zhejiang, the PRC

April 30, 2021

As of the date of this announcement, the executive directors are Mr. GUAN Weili, Ms. WANG Lianyue and Ms. WANG Hongyue; the non-executive director is Mr. YANG Yang; and the independent non-executive directors are Mr. ZHAO Xudong, Ms. ZHONG Wentang and Mr. LIU Ning.

2