<SEC-DOCUMENT>0001104659-20-098560.txt : 20200826
<SEC-HEADER>0001104659-20-098560.hdr.sgml : 20200826
<ACCEPTANCE-DATETIME>20200826091804
ACCESSION NUMBER:		0001104659-20-098560
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200826
FILED AS OF DATE:		20200826
DATE AS OF CHANGE:		20200826

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Concord Medical Services Holdings Ltd
		CENTRAL INDEX KEY:			0001472072
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-OFFICES & CLINICS OF DOCTORS OF MEDICINE [8011]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34563
		FILM NUMBER:		201134274

	BUSINESS ADDRESS:	
		STREET 1:		ROOM 2001-2002, 20TH FLOOR, TOWER A
		STREET 2:		GLOBAL TRADE CTR, 36 NORTH THIRD RING RD
		CITY:			DONGCHENG DISTRICT, BEIJING
		STATE:			F4
		ZIP:			100013
		BUSINESS PHONE:		(86)10-5825-6867

	MAIL ADDRESS:	
		STREET 1:		ROOM 2001-2002, 20TH FLOOR, TOWER A
		STREET 2:		GLOBAL TRADE CTR, 36 NORTH THIRD RING RD
		CITY:			DONGCHENG DISTRICT, BEIJING
		STATE:			F4
		ZIP:			100013
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2029443d1_6k.htm
<DESCRIPTION>6-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of August 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">--------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number: 001-34563</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">----------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONCORD MEDICAL SERVICES HOLDINGS LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">--------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18/F, Tower A, Global Trade Center </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>36 North Third Ring Road East, Dongcheng
District </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Beijing 100013 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">--------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form
20-F </FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT><FONT STYLE="font-family: Wingdings"> </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">CONCORD MEDICAL SERVICES HOLDINGS LIMITED</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 60%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 5%; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; width: 35%; border-bottom: Black 1pt solid; text-indent: 0">/s/ Jianyu Yang</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Name:</TD>
    <TD STYLE="padding: 0; text-indent: 0">Jianyu Yang</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Title:</TD>
    <TD STYLE="padding: 0; text-indent: 0">Chairman and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: August 26, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-indent: 0">Exhibit No.</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-indent: 0">Description</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; width: 15%; font-size: 10pt; text-align: left; text-indent: 0">99.1</TD><TD STYLE="padding: 0; width: 2%; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 83%; font-size: 10pt; text-align: left; text-indent: 0">Press Release</TD></TR>
</TABLE>


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<TYPE>EX-99.1
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<FILENAME>tm2029443d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Concord Medical Reports Financial Results
for the First Half of 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BEIJING, August 26, 2020 /PRNewswire/ --
Concord Medical Services Holdings Limited (&quot;Concord Medical&quot; or the &quot;Company&quot;) (NYSE: CCM), a healthcare provider
specializing in cancer care, research and prevention by operating a network of medically advanced comprehensive cancer hospitals
and standalone radiotherapy and diagnostic imaging centers in China, today announced its unaudited consolidated financial results
for the six months ended June 30, 2020<SUP>[1]</SUP>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>2020 First Half Highlights</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&bull;&#9;Total net revenues were RMB83.0
million ($11.7 million) in the first half of 2020, representing a 16.6% decrease from total net revenues of RMB99.5 million in
the same period last year. Total net revenues included the net revenues from the network business of RMB37.7 million ($5.3 million)
and the net revenues from hospital business of RMB45.3 million ($6.4 million).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&bull;&#9;Gross loss was RMB3.5 million
($0.5 million) in the first half of 2020, compared to the gross profit of RMB3.1 million in the first half of 2019. The gross loss
margin was 4.2% for the first half of 2020, compared to the gross profit margin of 3.1% for the same period last year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&bull;&#9;Net loss attributable to ordinary
shareholders in the first half of 2020 was RMB128.8 million ($18.2 million), compared to RMB140.1 million in the same period last
year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&bull;&#9;Basic and diluted loss per share
for Class A and Class B ordinary shares<SUP>[2]</SUP> in the first half of 2020 were both RMB2.23 ($0.32), compared to RMB2.03,
respectively, in the same period last year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&bull;&#9;Non-GAAP net loss in the first
half of 2020 was RMB155.0 million ($21.9 million), compared to non-GAAP net loss of RMB149.3 million in the same period last year.
Non-GAAP basic and diluted loss per share for Class A and Class B ordinary shares in the first half of 2020 were both RMB2.15 ($0.30),
compared to RMB1.95 in the same period last year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&bull;&#9;Adjusted EBITDA<SUP>[3]</SUP>
(non-GAAP) was negative RMB113.1 million ($16.0 million) in the first half of 2020, compared to negative RMB108.3 million in the
same period last year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dr. Jianyu Yang, Chairman and Chief Executive
Officer of Concord Medical, commented, &ldquo;In the first half of 2020, the Company&rsquo;s business was affected by the coronavirus
disease (COVID-19) epidemic. As the epidemic situation is under control in China, the Company's business has returned to normal.
In particular, compared with the same period in 2019, our Shanghai Meizhong Jiahe Cancer Center nearly doubled its revenue.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;The Company's Shanghai Meizhong
Jiahe Medical Imaging Diagnostic Center (the &ldquo;Imaging Diagnosis Center&rdquo;) has been officially opened in April 2020,
which will expand the Company's business income.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;The proton equipment of Guangzhou
Concord Cancer Center (the &ldquo;Cancer Center&rdquo;) has arrived and is expected to be hoisted in the recent months. Besides,
the construction of the Cancer Center (exclude the proton part) is nearly competed, and the Company is starting the preparation
for the opening of the Cancer Center. With the gradual operation of the Cancer Center to the mature stage, the Company's revenue
will also be greatly improved in the next few years.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>2020 First Half Financial Results</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Network Business</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from the network business
were RMB37.7 million ($5.3 million), representing a 44.6% decrease from net revenues of RMB68.0 million in the first half of 2019,
primarily attributable to the effect of the COVID-19 epidemic and the closure of certain centers in our network of centers. With
four centers closed in the first half of 2020, the Company operated a network of 27 centers in 20 cities in China as of June 30,
2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of revenues of the network business
was RMB14.6 million ($2.1 million), representing a 58.0% decrease from RMB34.8 million in the first half of 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit from the network business
was RMB23.1 million ($3.3 million), representing a 30.4% decrease from RMB33.2 million in the first half of 2019. The gross profit
margin of the network business for the first half of 2020 was 61.3%, compared to the gross profit margin of 48.8% for the same
period last year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Selling expenses of the network business
were RMB19.4 million ($2.7 million), representing a 108.6% increase from RMB9.3 million in the first half of 2019. Selling expenses
as a percentage of net revenues from the network business was 51.5% in the first half of 2020, compared to 13.7% in the first half
of 2019. The increase in selling expenses of the network business was mainly due to the increase in advertisement and promotion
expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">General and administrative expenses of
the network business were RMB56.9 million ($8.1 million), representing a 30.1% decrease from RMB81.4 million in the first half
of 2019. General and administrative expenses as a percentage of net revenues from the network business were 150.9% in the first
half of 2020, compared to 119.7% in the same period last year. The decrease was mainly because Zhongrong Fund management fees have
been fully settled in the second half of 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Comparing to RMB24.8 million in the same
period last year, capital expenditures decreased to RMB3.9 million ($0.6 million) in the first half of 2020, primarily for procuring
equipment for network centers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable were RMB61.1 million
($8.6 million) as of June 30, 2020, compared to RMB67.1 million as of December 31, 2019. The average period of sales outstanding
for accounts receivable (also known as &ldquo;Days Sales Outstanding&rdquo;) was 298 days in the first half of 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the first half of 2020, the Company
handled 3,837 patient treatment cases and 40,444 patient diagnostic cases, representing a 28.1% decrease and a 45.9% decrease from
the same period last year, respectively. The decreases in patient treatment and diagnostic cases were mainly due to the influence
of the COVID-19 epidemic.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Hospital Business</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from the hospital business
were RMB45.3 million ($6.4 million) in the first half of 2020, representing a 43.8% increase from net revenues of RMB31.5 million
in the first half of 2019, mainly because the operation of Shanghai Meizhong Jiahe Cancer Center Co., Ltd. has gradually matured
and the Imaging Diagnostic Center opened in this April.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of revenues of the hospital business
in the first half of 2020 was RMB71.8 million ($10.2 million), representing a 16.6% increase from cost of revenues of RMB61.6 million
in the first half of 2019, mainly because of the preparation and operation of the Imaging Diagnostic Center.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross loss from the hospital business was
RMB26.5 million ($3.8 million) in the first half of 2020, compared to RMB30.1 million in same period last year. The gross loss
margin of the hospital business for the first half of 2020 was 58.5%, compared to the gross loss margin of 95.8% for the same period
last year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Selling expenses of the hospital business
were RMB2.7 million ($0.4 million) in the first half of 2020, representing an 80.0% increase from selling expenses of RMB1.5 million
in the first half of 2019. Selling expenses as a percentage of net revenues from the hospital business was 6.0% in the first half
of 2020, compared to 4.8% in the first half of 2019. The increase was mainly because the market research cost increase for the
Imaging Diagnosis Center and the Cancer Center.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">General and administrative expenses of
the hospital business were RMB77.5 million ($11.0 million) in the first half of 2020, of which employee benefit expenses were RMB31.7
million ($4.5 million). In the same period of last year, general and administrative expenses of the hospital business were RMB58.1
million. The increase was mainly due to the increase in salary and rental fees for hospitals. General and administrative expenses
as a percentage of net revenues from the hospital business was 171.1% in the first half of 2020, compared to 184.4% in the first
half of 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Comparing to RMB410.5 million in the first
half of 2019, capital expenditures of the hospital were RMB364.9 million ($51.6 million) in the first half of 2020. The decrease
was mainly related to the decrease in construction fees and medical equipment payment for Beijing Proton Medical Center, Shanghai
Concord Cancer Center and the Cancer Center.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2020, accounts receivable
from hospital business were RMB11.2 million ($1.6 million), representing an 18.2% decrease from accounts receivable of RMB13.7
million as of December 31, 2019. The number of Days Sales Outstanding was 50 days in the first half of 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2020, the Company had bank
loans and other borrowings totaling RMB2.0 billion ($288.6 million).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Recent Developments</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Imaging Diagnosis Center commenced
operation in April 2020. The Imaging Diagnosis Center is located on the second floor of the Medical Technology Center of Shanghai
Xinhongqiao International Medical Park (the &ldquo;Park&rdquo;), which is the center of the Park. The Imaging Diagnosis Center
provides high-quality diagnostic imaging services, such as radiology, ultrasound and nuclear medicine, diagnosis and remote consultation,
education and training, to all the medical institutions, premium clinics and medical institutions around the Park. Advanced imaging
diagnostic equipment, such as CT, magnetic resonance, PET-CT and PET-MRI, have been installed in the Imaging Diagnosis Center.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[1] This announcement contains translations
of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all
translations of RMB into U.S. dollars are made at a rate of RMB7.0651 to $1.00, the noon buying rate in New York City for cable
transfers payable in RMB, as certified for customs purposes by the Federal Reserve Bank of New York on June 30, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[2] The Company adjusts for the accretion
of mezzanine equity in the calculation of loss attributable to ordinary shareholders of the Company used in the loss per share
for Class A and Class B ordinary shares calculation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[3] Adjusted EBITDA is defined as net income
plus interest, taxes, depreciation and amortization, share-based compensation expenses and other adjustments. Other adjustments
include foreign exchange gain (loss), net, loss on disposal of long-lived equipment, income from disposal of associate companies
and other income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">About Concord Medical</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concord Medical Services Holdings Limited
is a healthcare provider specializing in cancer care, research and prevention. The Company operates a network of medically advanced
comprehensive cancer hospitals and standalone radiotherapy and diagnostic imaging centres in China. The Company focuses on providing
multidisciplinary cancer care approach in all areas of oncology services in its cancer hospitals. The Company also equips its hospitals
with technologically advanced equipment such as the state-of-the-art proton therapy system in its Beijing, Shanghai and Guangzhou
cancer hospitals. As of June 30, 2020, the Company operated a network of 27 centers based in 20 hospitals, spanning over 20 cities
across 13 provinces and administrative regions in China. To ensure the commitment to the highest level of clinical care for patients,
the Company offers ongoing education and training for doctors and other medical professionals in its network hospitals and centres
in both local and overseas medical institutions. For more information, please see <I>http://ir.ccm.cn</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Safe Harbor Statement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This announcement contains forward-looking
statements. These forward-looking statements can be identified by words or phrases such as &ldquo;will,&rdquo; &ldquo;expects,&rdquo;
&ldquo;anticipates,&rdquo; &ldquo;future,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates&rdquo;
and similar expressions. Forward-looking statements are inherently subject to uncertainties and contingencies beyond the Company&rsquo;s
control and based upon premises with respect to future business decisions, which are subject to change. A number of important factors
could cause actual results to differ materially from those contained in any forward-looking statement. The Company does not undertake
any obligation to update any forward-looking statement, except as required under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">About Non-GAAP Financial Measures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To supplement the consolidated financial
statements presented in accordance with United States Generally Accepted Accounting Principles (&quot;GAAP&quot;), Concord Medical
uses certain non-GAAP measures. The Company presents certain of its financial information that is adjusted from results based on
GAAP to exclude the impact of share-based compensation expense. The Company believes excluding share-based compensation expense
from its GAAP financial measures is useful for its management and investors to assess and analyze the Company's core operating
results, as such expense is not directly attributable to the underlying performance of the Company's business operations and do
not impact its current cash earnings. Concord Medical also believes these non-GAAP measures excluding share-based compensation
expense are important in helping investors to understand the Company's current financial performance and future prospects and to
compare business trends among different reporting periods on a consistent basis. In addition, Concord Medical also presents the
non-GAAP measure of Adjusted EBITDA, which is defined in this announcement as net income plus interest, taxes, depreciation and
amortization, and share-based compensation expenses and other adjustments. Other adjustments include foreign exchange gain (loss),
net, loss on disposal of long-lived equipment, income from disposal of associate companies and other income. Furthermore, Adjusted
EBITDA eliminates the impact of items that the Company does not consider to be indicative of the performance of the network business
and hospital business. The Company believes investors will similarly use Adjusted EBITDA as one of the key metrics to evaluate
its financial performance and to compare its current operating results with corresponding historical periods and with other companies
in the healthcare services industry. The presentation of these additional measures should not be considered a substitute for or
superior to GAAP results or as being comparable to results reported or forecasted by other companies. The non-GAAP measures have
been reconciled to GAAP measures in the attached financial information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For more information, please contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Concord Medical Services Holdings Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Mr. Edward Zhang</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">+86 10 5903 6688 (ext. 608)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">zhongchen.zhang@ccm.cn</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">Concord Medical Services Holdings Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">Consolidated Balance Sheets</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">(in thousands)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0"><P STYLE="margin-top: 0; margin-bottom: 0">December 31,</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">2019</P></TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">June 30, <BR> 2020</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">RMB</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">RMB</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">US</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">(Audited)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">(Unaudited)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">(Unaudited)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">ASSETS</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Current assets</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; width: 61%; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Cash and cash equivalents</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">74,307</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">566,516</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">80,185</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Accounts receivable</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">73,731</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">61,528</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">8,709</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Prepayments and other current assets</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">94,868</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">288,727</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">40,867</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Inventories</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">4,341</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">5,573</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">789</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Net investments in direct financing leases, current portion</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">35,240</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">40,285</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">5,702</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total current assets</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">282,487</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">962,629</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">136,252</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Non-current assets</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Property, plant and equipment, net</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,898,861</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">2,092,567</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">296,184</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Right of use assets, net</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">647,080</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">629,989</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">89,169</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Net investments in direct financing leases, non-current portion</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">27,084</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">20,249</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">2,866</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Goodwill</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">210,443</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">213,920</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">30,279</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Intangible assets, net</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">532,489</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">524,882</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">74,292</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Deposits for non-current assets</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">624,132</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">671,817</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">95,090</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Long-term investments</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">64,948</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">321,496</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">45,505</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Other non-current assets</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">9,921</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">13,684</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,937</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total non-current assets</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">4,014,958</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">4,488,604</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">635,322</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total assets</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">4,297,445</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">5,451,233</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">771,574</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">LIABILITIES AND EQUITY</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Current liabilities</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Accounts payable</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">8,275</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">5,992</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">848</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Accrued expenses and other liabilities</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">277,101</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">256,106</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">36,249</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Income tax payable</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">752</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">2,165</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">306</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Operating lease liabilities, current</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">12,884</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">9,867</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,397</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Short-term bank and other borrowings</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">285,500</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">440,177</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">62,303</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Long-term bank and other borrowings, current portion</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">42,939</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">106,768</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">15,112</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total current liabilities</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">627,451</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">821,075</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">116,215</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Non-current liabilities</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Long-term bank and other borrowings, non-current portion</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,291,763</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,491,961</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">211,173</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Deferred tax liabilities</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">165,438</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">166,624</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">23,584</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Long-term secured borrowings</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&mdash;&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">116,800</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">16,532</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Operating lease liabilities, non-current</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">218,817</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">211,716</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">29,966</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Other long-term liabilities</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">104,738</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">104,529</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">14,799</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total non-current liabilities</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,780,756</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">2,091,630</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">296,054</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total liabilities</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">2,408,207</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">2,912,705</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">412,269</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Contigently redeemable noncotrolling interests</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,909,606</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">2,737,552</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">387,475</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">EQUITY</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Class A ordinary shares</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">68</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">68</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">10</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Class B ordinary shares</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">37</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">37</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">5</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Treasury stock</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(8</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(8</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(1</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Additional paid-in capital</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,759,941</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,823,366</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">258,081</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Accumulated other comprehensive loss</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(97,285</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(104,152</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(14,742</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Accumulated deficit</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(1,785,517</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2,078,181</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(294,148</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total Concord Medical Services Holdings Limited shareholders' deficit</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(122,764</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(358,870</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(50,795</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Noncontrolling interests</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">102,396</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">159,846</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">22,625</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total deficit</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(20,368</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(199,024</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(28,170</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total liabilities, mezzanine equity and deficit</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">4,297,445</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">5,451,233</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">771,574</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">Concord Medical Services Holdings Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">Consolidated Profit &amp; Loss</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">(in thousands, except for number of&nbsp;&nbsp;shares and per share data)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0"><P STYLE="margin-top: 0; margin-bottom: 0">June 30,</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">2019</P></TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">June 30, <BR> 2020</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">RMB</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">RMB</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">US$</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0 0 1pt; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 1pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 0; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0; text-align: center; text-indent: 0">(Unaudited)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 1pt; text-indent: 0">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 1pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 0; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0; text-align: center; text-indent: 0">(Unaudited)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 1pt; text-indent: 0">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 1pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 0; padding-right: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0; text-align: center; text-indent: 0">(Unaudited)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 1pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Revenues net of value-added tax</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 61%; text-align: justify; text-indent: 0.25in">Network</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">68,046</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">37,674</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">5,332</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: justify; text-indent: 0.25in">Hospital</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">31,466</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">45,337</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">6,417</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: justify; text-indent: 0.25in">Total net revenues</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">99,512</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">83,011</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">11,749</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Cost of revenues:</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: justify; text-indent: 0.25in">Network</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(34,799</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(14,644</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2,073</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: justify; text-indent: 0.25in">Hospital</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(61,596</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(71,839</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(10,168</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total cost of revenues</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(96,395</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(86,483</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(12,241</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Gross profit/ (loss)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">3,117</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(3,472</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(492</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Operating expenses:</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Selling expenses</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(10,827</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(22,095</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(3,127</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">General and administrative expenses</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(139,518</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(134,397</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(19,023</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Operating loss</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(147,228</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(159,964</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(22,642</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Interest expense</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(9,329</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(20,835</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2,949</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Foreign exchange gain(loss), net</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">2,606</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(1,736</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(246</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Loss on disposal of long-lived equipment</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2,781</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(5</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(1</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Interest income</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">6,124</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">4,050</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">573</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">(Loss) income from equity method investments</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(4,536</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,252</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">177</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Other income, net</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">2,671</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">4,958</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">702</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Gain on disposal of an equity method investment</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">&mdash;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">8,151</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">1,154</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Loss before income tax</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(152,473</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(164,129</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(23,232</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Income tax expenses</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(7,912</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(1,833</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(259</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Net loss</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(160,385</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(165,962</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(23,491</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Net loss attributable to noncontrolling interests</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(20,268</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(37,167</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(5,261</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Net loss attributable to Concord Medical Services Holdings Limited</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(140,117</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(128,795</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(18,230</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Loss per share for Class A and Class B ordinary shares</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Basic</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.03</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.23</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(0.32</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Diluted</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.03</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.23</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(0.32</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Weighted average number of class A and class B ordinary shares outstanding:</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Basic</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">130,161,668</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">130,241,995</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">130,241,995</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Diluted</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">130,161,668</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">130,241,995</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">130,241,995</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Other comprehensive loss, net of tax of nil</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Foreign currency translation, net tax of nil</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(419</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(6,867</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(972</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Total other comprehensive loss, net of tax</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(419</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(6,867</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(972</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Comprehensive loss</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(160,804</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(172,829</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(24,463</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Comprehensive loss attributable to noncontrolling interests</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(19,123</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(37,167</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(5,261</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Comprehensive loss attributable to Concord Medical Services Holdings Limited&rsquo;s shareholders</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(141,681</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(135,662</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(19,202</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="25" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0">Reconciliations of non-GAAP results of operations measures to the <BR> nearest comparable GAAP measures (*) <BR> (in RMB thousands, except per share data unaudited)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid; text-indent: 0">For the six months ended<BR> June 30, 2019</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid; text-indent: 0">For the six months ended<BR> June 30, 2020</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid; text-indent: 0"><P STYLE="margin-top: 0; margin-bottom: 0">GAAP</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">Measure</P></TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid; text-indent: 0">Adjustment</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid; text-indent: 0">Non-GAAP Measure</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid; text-indent: 0"><P STYLE="margin-top: 0; margin-bottom: 0">GAAP</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">Measure</P></TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid; text-indent: 0">Adjustment</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid; text-indent: 0">Non-GAAP Measure</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; width: 34%; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Operating loss</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(147,228</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">11,130</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(136,098</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(159,964</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">10,916</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(149,048</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Net loss</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(160,385</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">11,130</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(149,255</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(165,962</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">10,916</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(155,046</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Basic loss per share for Class A and Class B ordinary shares</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.03</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">0.09</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(1.95</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.23</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">0.08</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.15</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">Diluted loss per share for Class A and Class B ordinary shares</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.03</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">0.09</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(1.95</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.23</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">0.08</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; text-indent: 0">(2.15</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0">(*) The only adjustment is share-based compensation.</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: right; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; text-align: left; text-indent: 0">&nbsp;</TD></TR>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap; text-indent: 0">Reconciliation from net income to adjusted EBITDA(*) <BR> (in RMB thousands, unaudited)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font-size: 10pt; white-space: nowrap; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For the six months ended</B></FONT></TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For the six months ended</B></FONT></TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font-size: 10pt; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June 30, 2019</B></P></TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June 30, 2020</B></P></TD><TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; width: 74%; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; white-space: nowrap; text-indent: 0">Net loss</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">(160,385</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">)</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">(165,962</TD><TD STYLE="padding: 0; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: justify; white-space: nowrap; text-indent: 0.25in">Interest expenses, net</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">3,205</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">16,785</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: justify; white-space: nowrap; text-indent: 0.25in">Income tax expenses</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">7,912</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">1,833</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: left; white-space: nowrap; text-indent: 0.25in">Depreciation and amortization</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">32,366</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">34,715</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: justify; white-space: nowrap; text-indent: 0.25in">Share-based compensation</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">11,130</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">10,916</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: justify; white-space: nowrap; text-indent: 0.25in">Other adjustments</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">(2,496</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">(11,368</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; white-space: nowrap; text-indent: 0">Adjusted EBITDA</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">(108,268</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">)</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">(113,081</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; white-space: nowrap; text-indent: 0">EBITDA margin</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">-109</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">%</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">&nbsp;</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap; text-indent: 0">-136</TD><TD STYLE="padding: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; white-space: nowrap; text-indent: 0">%</TD></TR>
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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(*) Definition
of adjusted EBITDA: Adjusted EBITDA is defined as net income plus interest, taxes, depreciation and amortization, share-based
compensation expenses and other adjustments. Other adjustments include foreign exchange gain(loss), net, loss on disposal of
long-lived equipment, income from disposal of associate companies and other income</P>



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