Share transfer completed! Huajian Medical officially takes over Chuangye Hui Kang, launching a full-scale coordinated strategic offensive

On February 12, 2026, a milestone event occurred in China’s medical information technology sector. $B-Soft Co.,Ltd. (300451.SZ)$ An official announcement was made regarding the share transfer agreement between the company’s shareholder Mr. Ge Hang and Hangzhou Better Wisdom Investment Management Consulting Partnership (Limited Partnership).The registration procedures for the share transfer have been successfully completed.

Chuangye Hui Kang's announcement on February 12

Thus far, $ETHK LABS INC. (01931.HK)$Through its platforms, it acquired a total of 96,525,096 A-shares for an investment of 500 million RMB, directly holding 6.23% of the equity in Chuanzhi Healthcare. This not only signifies a highly anticipated AI healthcare M&A dealhas been finalized at both the legal and equity levels, but also marks China's AI healthcare industry consolidation moving from strategic planning intoa new phase of substantive value creation。

I. Completion of share transfer, Huajian Healthcare officially becomes a shareholder

This share transfer originated three months ago. On November 12, 2025, according to the agreement, Huajian Healthcare, through its wholly-owned subsidiary Hangzhou Better Smart Investment, agreed to acquire 96,525,096 shares held by Mr. Ge Hang in Chuanzhi Healthcare for a total price of 500 million RMB, accounting for approximately 6.23% of the company's total shares. Meanwhile, by signing a 'Voting Rights Entrustment and Consistent Action Agreement' with Mr. Ge Hang and Jinfu Source, Hangzhou Better Smart Investment controls a total of 12.64% of voting rights in Chuanzhi Healthcare, becoming its largest shareholder.

After passing the antitrust review by the State Administration for Market Regulation and receiving compliance confirmation from the Shenzhen Stock Exchange, among other hurdles, the China Securities Depository and Clearing Corporation officially issued the 'Securities Transfer Registration Confirmation' on February 11, 2026, confirming that the transfer registration for 96,525,096 A-shares had been completed, with all legal procedures finalized.

A single confirmation document carries profound significance. First,it fully establishes Huajian Healthcare's identity and rights as a legitimate major shareholder of Chuanzhi Healthcare, paving the way for subsequent corporate governance, strategic input, and business synergyCleared the fundamental obstacles. Secondly, it sends the clearest signal to the market: the two-way empowerment and integration between Huajian Healthcare and Innovation Wisdom Health is no longer a distant plan but an immediate reality.

This injects a strong expectation of stability into Innovation Wisdom Health, which is currently under performance pressure, and provides a solid anchor for the market to reassess the value of these two leading enterprises. This is not just a starting point, but the most critical step toward infinite future possibilities.

II. The gateway to substantive integration opens, with governance and commercialization as dual drivers

With the completion of share transfers and the upcoming board restructuring, Huajian Healthcare has officially opened the door to substantive integration with Innovation Wisdom Health. The primary task is how to deeply integrate Huajian Healthcare's unique strategic resources with Innovation Wisdom Health’s inherent strengths, resolve its current difficulties, and unlock potential value.

Innovation Wisdom Health’s 2025 earnings forecast indicates an expanding loss. The root cause lies in phase-based demand pressures within the industry, the new generation HI-HIS product being in the market introduction phase, and persistently high R&D investments aimed at AI healthcare development.

This is exactly where Huajian Healthcare can make a significant impact. What Innovation Wisdom Health lacks is not technology or products, but rather the robust channels and ecosystem synergy needed to commercialize its leading AI products on a large scale, such as the BsoftGPT platform and APTS key patient tracking system.The strong channel and ecosystem synergy ability required for large-scale commercial implementation.

What Huajian Healthcare brings to the table is precisely itsmost scarce pathway for commercial implementationThat is, the nation's leading IVD distribution network (K1 curve). As of mid-2025, Wistar, under Huajian Medical, has cumulatively installed over 6,600 coagulation analyzers, with a distribution network covering all 31 provinces/autonomous regions/municipalities across the country, directly reaching more than 1,700 tertiary hospitals. This vast channel network, which penetrates deeply into the capillaries of China's medical system, is the 'highway' that any pure technology company dreams of.

As Mr. He Jucheng, founder of Huajian Medical, said,The combination of Huajian Medical's channel network serving thousands of hospitals and Chuangye Huikang’s nearly three decades of accumulated expertise in medical informatizationis bound to result in synergy where '1+1>2'.The synergy between the two parties will go beyond simple customer sharing, aiming deeper at theintegration of 'data × scenarios × channels'.

For instance, Huajian’s IVD test data for coagulation and thrombus markers can be seamlessly and structurally integrated through Chuangye Huikang’s Hospital Information System (HIS) and Electronic Medical Record (EMR) systems. This not only enhances the hospital’s data integration efficiency but also provides real-time, multi-dimensional data fuel for Chuangye Huikang’s AI products (such as Clinical Decision Support Systems CDSS and Accurate Patient Tracking Systems APTS), enabling the development ofa closed-loop solution of 'testing + data + AI'.

This synergy will cut straight intoThe National Healthcare Security Administration recently clarified the commercialization and charging pathway for AI in healthcare(such as incorporating AI-assisted diagnosis into pathology diagnostic pricing schemes) at the policy forefront, accelerating the transition of AI products from 'technology demonstrations' to 'chargeable services,' providing the strongest engine for the future earnings turnaround of B-Soft.

III. Data Assets X Ecosystem Empowerment, Defining New Barriers in AI Healthcare

HuaJian Healthcare's acquisition of B-Soft is not based on short-term financial performance but rather its near-monopolisticleading position in medical information technologyand the accumulatedvast data assets and scenario entry points.With nearly 30 years of industry experience, B-Soft serves close to7,000 medical and health institutions nationwide,with public health projects coveringmore than 370 districts and counties, accumulatingapproximately 300 million residents' health records and over 100 million electronic medical records. In an era where data has become a core production factor, this serves as the scarce fuel needed to train vertical large models and achieve precision medicine.

Meanwhile, Chuangye Huikang itself has built significant momentum inAI healthcare technology breakthroughs. Its self-developed BsoftGPT large model platform, the 'Qizhen' medical large model co-built with Zhejiang University, and the already proven effective AI Key Patient Tracking System (APTS, which increased early diagnosis and treatment rates by 42% in pilot programs), all demonstrate its ability to translate technology into clinical value. However, how can these scattered 'pearls' be strung together into a more valuable 'necklace' and maximize their worth?

This is exactlyHuajian Healthcare's three growth curves, particularly K2 ('Huajian Ecosystem') and K3 (global capital operation capability) empowerment logic.

InAt the K2 level, the medical data and AI capabilities of B-Soft Healthcare can create synergy with partners in the ecosystem, such as IVD enterprises, mass spectrometry diagnostics, and molecular diagnostics, jointly developing innovative integrated 'diagnosis-treatment-management' solutions.

On a more imaginativeK3 level, Huajian Medical can leverage its capital operation capabilities to explore innovative paths such as intellectual property securitization for AI products under B-Soft Healthcare that have been verified and generate stable cash flow (such as the AI Key Patient Tracking System, APTS), converting future earnings into current development momentum to feed back into R&D.

As the well-known venture capital firm Breyer Capital has stated, AI healthcare is entering an era of major consolidation,with 'channel distribution' and 'exclusive data' replacing simple algorithmsto become stronger barriers. Through this acquisition, Huajian Medical’s AI healthcare strategy has brought two core barriers under its control, establishing a competitive advantage that is difficult to replicate.

[Conclusion] Leading industrial transformation and jointly building a new intelligent foundation for Healthy China

With the completion of the share transfer registration, Huajian Medical officially begins its synergistic journey with B-Soft Healthcare. This is not only a union of two companies but also a dimensional upgrade in industrial logic. It vividly illustrates Huajian Medical'sreverse NewCo modelThe essence lies not in relying solely on heavy capital acquisitions but in leveraging its profound Chinese ecosystem momentum (market, channels, data) as a strategic bargaining chip to attract, integrate, and empower top-tier industry assets, jointly creating exponential value.

This integrationFor shareholders,is a value-driven path toward long-term predictable returns;for the industry,it provides a 'technology + capital + ecosystem' integrated paradigm for medical informatization companies facing transformation challenges;for the country,it represents a practical measure to actively respond to the 'AI+' initiative, using market forces to drive the development of new medical productivity.

At the inflection point of AI healthcare industrialization and commercialization, Huajian Healthcare has completed a pivotal leap from being an IVD distribution giant to becoming an AI healthcare ecosystem platform through a precise acquisition. Together, they will transform Chuangye Hui Kang into a publicly recognizedfirst mover in China’s AI healthcare sector,exploring a shift from project-based models to sustainable service-oriented models, ultimately serving the grand vision of 'Healthy China,' making cutting-edge medical intelligence accessible to all.

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