Lancy Medical Pays 63 Million Yuan for the Acquisition of Xi' An Myfun

Lancy Group announced that its wholly-owned subsidiary Lancy Medical Management co., LTD. (Lancy Medical) will pay 63 million yuan for the acquisition of Xi' An Myfun Medical Cosmetology Hospital co., LTD. (Xi' an Myfun)’s 60% equity, held by Ruzhou Hanfeng Enterprise Management Consulting Center (Ruzhou Hanfeng) to become the controller of Xi' an Myfun.

Xi' an Myfun was founded in October 2013 with a registered capital of 15 million yuan. It is a high-end general hospital in the medical beauty industry, specializing in plastic surgery, minimally invasive surgery, dermatology and hair transplantation. In the first half of 2019, the company achieved revenue of 45.9643 million yuan, net profit of 3.24200 million yuan and total assets of 33.345 million yuan.

Lancy Group said that the acquisition of Xi' an Myfun was an important step for the company to develop the medical beauty business. Through this acquisition, the company will fully integrate the popularity, customer resources and medical beauty team to further occupy the northwest market.

As a Chinese high-end fashion brand, LANCY boasts international vision and global influence, establishes such fashion segments as women's wear, infants' and kids' wear, medical cosmetology and cosmetics, and strives to be a top-class fashion industry group in China with significant impact on the world by following the strategy of "General Fashion + Internet Ecological Circle".

Lancy Group is committed to building an inter-connected ecosphere of the pan-fashion industry combining business segments like women’s wear, green infant’s products, and medical cosmetology, characterized by “interconnected online and offline flows, sharing of multi-dimensional fashion resources, industrial linkage across the world”.