WuXi AppTec and Ping An Bank Sign RMB 10 Billion Strategic Cooperation to Advance the Health Industry Ecosystem

On February 27, WuXi AppTec and Ping An Bank signed a strategic cooperation agreement worth RMB 10 billion, under which Ping An Bank will provide comprehensive credit support to WuXi AppTec. Meanwhile, the two parties announced the joint establishment of the “Ping An-WuXi Industry Investment Fund.”

In addition, WuXi AppTec’s subsidiary, Yiming Kangde, launched its first personalized health management service product, “Kangma,” officially announcing its entry into the B2C general health industry.



Ping An Bank Provides Comprehensive Credit Support to WuXi AppTec

Ping An Bank will provide comprehensive credit support for WuXi AppTec’s production and operations. First, Ping An Bank will supply the necessary supporting funds required for WuXi AppTec’s development over the next five years, with a focus on supporting the company’s industrial development in regions including Shanghai, Tianjin, Wuhan, Suzhou, Wuxi, and Changzhou. Second, through its product suites such as supply chain finance and internet finance, Ping An Bank will support WuXi AppTec in expanding its upstream and downstream customer base and extending R&D services to domestic pharmaceutical enterprises. Furthermore, Ping An Bank will fully support WuXi AppTec’s global expansion by leveraging cross-border financing and offshore financial products to facilitate its market development.

Li Ge, Chairman and Chief Executive Officer of WuXi AppTec, stated, “The strategic partnership between WuXi AppTec and Ping An Bank in the health industry represents a powerful alliance between two leaders in the broader healthcare sector. This collaboration will successfully combine Ping An Bank’s strengths in financial services, investment, and financing with WuXi AppTec’s core competencies in new drug research and development. We believe this partnership will mark a significant milestone for both WuXi AppTec and China’s healthcare industry.”

Establishment of the "Ping An WuXi Industrial Investment Fund"

Shao Ping, President of Ping An Bank’s Head Office, stated, “WuXi AppTec leverages its industrial expertise, while Ping An Bank brings its professional strengths in financial investment and management. The establishment of this fund will significantly accelerate the rapid development of China’s healthcare industry.”

Centering on the technologies, corporate assets, and industries valued by WuXi AppTec, both parties will jointly select high-quality targets for equity investment and M&A integration in the Waigaoqiao Wanchuang Center, as well as in the Chinese and global markets, while deeply connecting with domestic and international capital markets. Meanwhile, the “Ping An WuXi Industrial Investment Fund” will focus on investing in areas that extend WuXi AppTec’s industrial chain, supporting WuXi AppTec’s development and layout of the global health industry. This includes supporting the integration of WuXi AppTec’s B2C customer resources, represented by Kangma products, as well as the M&A integration of high-quality hospital assets and health management assets worldwide.

Ping An Bank and WuXi AppTec Engage in Comprehensive Resource Sharing

WuXi AppTec’s subsidiary, YiMing KangDe, simultaneously launched its first personalized health management service product—KangMa—on-site, officially announcing its entry into the B2C general health industry. KangMa recommends personalized health management solutions based on users’ health status, helping them cultivate a healthy and trendy lifestyle.

Ping An Bank will integrate its own customer resources from private banking, retail banking, and credit cards, as well as customer resources from Ping An Group’s business segments such as insurance, trust, and Lufax. Through financial product innovation and benefit sharing, it will achieve comprehensive channel sharing and cross-customer referrals with C-end product systems such as YiMing KangDe’s KangMa products.

Ping An Bank and WuXi AppTec will jointly launch the “Ping An Health Hub,” integrating resources from leading enterprises in the broader health industry to foster rapid, coordinated sector development.