In 1971, Ruixing Department Store Co., Ltd. was founded by Mr. Gu Shengxiang and was listed on the Main Board of the Hong Kong Stock Exchange in the same year.

In 1997, it was acquired by Yongyi International and renamed Yongfu Construction Co., Ltd.

In 1998, Yongfu Construction Co., Ltd. was replaced by Yongfu Construction International Holdings Co., Ltd.

In 2000, China Telecom teamed up with a consortium to acquire the company and renamed it 21st Century Communication Co., Ltd., and at the same time sold off all the department stores with poor business performance.

In 2004, it was acquired by CITIC Group and renamed CITIC 21st Century Co., Ltd.

On January 23, 2014, CITIC 21st Century will allot 4.4 billion shares to Alibaba and Yunfeng Fund. The allotment price per share is 0.3 yuan, which is a discount of approximately 63.9% compared with the shares before the suspension of trading on January 16, which means that Alibaba

Bought CITIC 21 for 1.33 billion yuan.

After the subscription is completed, Alibaba and Yunfeng Fund will hold more than 54.33% of the equity of CITIC 21 and become the major shareholders. Alibaba and Yunfeng Fund will hold 38.1% and 16.2% respectively. The shareholding of the existing major shareholder CITIC Group will

dropped to 9.92%, Chen Xiaoying’s shareholding dropped to 9.64%, and Alibaba’s parliament appointed five executive directors to join the company.

On May 9, 2014, CITIC 21st Century announced that Wang Jian, currently the chief technology officer of Alibaba Group, was appointed as the company’s chairman and chief executive, effective from the 9th of this month.

In addition, Chen Xiaoying and Wang Jun have resigned from their positions as chief executive and chairman respectively.

At the same time, in order to reflect the new equity structure, it is recommended to change the company name to "Alibaba Health Information Technology".