XUNFEIHEALTH (02506) has announced the signing of an investment cooperation agreement with Hefei Big Data, along with a further capital contribution.

The company and Hefei Big Data originally established a target company in July 2024 to construct a national artificial intelligence application pilot base focused on primary healthcare services.

The initial registered capital for this venture was set at RMB 1.511 billion, with XUNFEIHEALTH holding a 49% stake and Hefei Big Data holding 51%.

Following adjustments to the project's funding requirements, the parties agreed on September 11, 2025, to reduce the target company's registered capital from RMB 1.511 billion to RMB 200 million.

The ownership percentages for both parties remained unchanged at 49% and 51%, respectively, after this capital reduction.

The investment cooperation pact further stipulates that, based on the project's actual funding needs, the total actual capital contribution from both sides will be RMB 369 million.

According to their shareholding ratios, Hefei Big Data's actual contribution is approximately RMB 188 million, while XUNFEIHEALTH's is about RMB 181 million.

Any amount contributed beyond the subscribed registered capital, totaling RMB 169 million, will be fully recorded as capital reserve in the target company.

On November 28, 2025, following mutual consultation, both parties agreed to make an additional capital injection of RMB 12.24 million into the target company.

In line with their ownership stakes, Hefei Big Data contributed an additional RMB 6.24 million, and XUNFEIHEALTH provided a further RMB 6 million.

The target company serves as the primary entity responsible for constructing the pilot base project.

Based on the project's funding application report, the total investment required is RMB 608 million.

This includes RMB 243 million sought from the national ultra-long-term special government bonds, with the remaining RMB 365 million to be self-raised by the target company.

The self-raised funds will come from capital contributions by the company's shareholders.

Following the approval of the project's preliminary design by the Hefei Development and Reform Commission and subsequent shareholder negotiations, the total agreed shareholder contribution is RMB 381 million, proportional to their stakes.

XUNFEIHEALTH's total contribution, based on its 49% share, amounts to RMB 187 million.

The company has confirmed that the funds for these contributions were not sourced from the proceeds of its initial public offering.