Concord Medical Reports Fourth Quarter and Full Year 2014 Financial Results Meets Full Year 2014 Earnings per ADS Guidance BEIJING

Concord Medical Reports Fourth Quarter and Full Year 2014 Financial Results

Meets Full Year 2014 Earnings per ADS Guidance

BEIJING, March 23, 2015 Concord Medical Services Holdings Limited ( Concord Medical or the Company ) (NYSE: CCM), a leading

specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced its unaudited consolidated financial results for the fourth quarter and full year ended

December 31, 2014[1] . Please note that all reported financial results exclude the financial contribution from Chang an Hospital.

Fourth Quarter Highlights

Full Year 2014 Highlights

Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, We are pleased to have met our full year earnings per ADS

guidance and completed 2014 with strong financial results and significant operational accomplishments. Our performance was augmented by rising rates of cancer incidence and increased healthcare spending levels in China and from our internal efforts

to improve operational efficiency and cost controls.

In December 2014, after careful analysis, we fully divested Chang an Hospital and

CCICC from our group to focus on our core strategy of building a nationwide network of diagnosis and treatment centers and specialized cancer hospitals. The transaction was closed on the end of the year, providing Concord Medical with proceeds of

approximately $64.8 million, which we are using to fund the construction of our current projects and to improve our financial position.

Dr. Yang concluded, Looking ahead, we expect 2015 to be another year of important accomplishments for

Concord Medical. We expect to open our first specialized cancer hospital in Datong in the first half of 2015. This will be a state-of-the-art oncology facility once complete. We also expect our hospitals in Guangzhou and Shanghai to also break

2014 Fourth Quarter Financial Results

Total net revenues from the network business were RMB160.3 million ($25.8 million), an 8.3% decrease from RMB174.8 million in the fourth quarter of

2013, primarily due to decreased treatment and diagnostic patient cases as a result of the closure of two centers due to contract expiration. As of December 31, 2014, the Company operated a network of 139 centers in 56 cities in China and had

entered into agreements to establish 3 additional centers.

Cost of revenue was RMB73.3 million ($11.8 million), a 30.1% increase from RMB56.3

million in the fourth quarter of 2013, mainly due to the increased network depreciation expenses from new centers.

Gross profit was RMB86.9

million ($14.0 million), representing a 26.6% decrease from RMB118.4 million in the fourth quarter of 2013. The gross profit margin for the fourth quarter of 2014 was 54.3%, compared to 67.8% for the fourth quarter of 2013.

Selling expenses were RMB25.2 million ($4.1 million), representing a 33.5% decrease from RMB37.9 million in the fourth quarter of 2013. Selling

expenses as a percentage of total net revenues decreased to 15.7% in the fourth quarter of 2014 from 21.7% in the fourth quarter of 2013. The decrease was mainly due to decreased advertising expenses.

General and administrative expenses were RMB12.9 million ($2.1 million), representing a 52.7% decrease from RMB27.2 million in the fourth quarter of

2013. General and administrative expenses as a percentage of total net revenues was 8.0% in the fourth quarter of 2014, compared to 15.6% in the fourth quarter of 2013. The decrease was mainly due to decreased office expenses, consulting expenses

Operating income was RMB48.8 million ($7.9 million) for the fourth quarter of 2014, compared to RMB53.3 million in the fourth

Income tax expense was RMB40.8 million ($6.6 million) for the fourth quarter of 2014, compared to RMB30.7 million in the fourth

quarter of 2013. The effective tax rate for the fourth quarter of 2014 was 85.8%. The increase was mainly related to the withholding taxes relating to the company s oversea investment and tax expenses of Chang an Hospital.

Net income from discontinued operations was RMB21.9 million ($3.5 million) for the fourth quarter of 2014 attributable to income generated from

Net income attributable to ordinary shareholders was RMB28.1 million ($4.5 million) for the fourth quarter of 2014,

compared to RMB11.1 million in the fourth quarter of 2013. The net profit margin in the fourth quarter of 2014 was 17.6%, compared to 6.3% in the fourth quarter of 2013.

Non-GAAP net income for the fourth quarter of 2014 was RMB33.1 million ($5.3 million), compared to RMB14.2 million for the fourth quarter of 2013.

Both non-GAAP basic and diluted earnings per ADS in the fourth quarter of 2014 were RMB0.74 ($0.12)

Both basic and diluted earnings per ADS

for the fourth quarter of 2014 were RMB0.64 ($0.10). Each ADS represents three ordinary shares.

Adjusted EBITDA (non-GAAP) was RMB101.7 million

($16.4million) for the fourth quarter of 2014, representing a 14.0% increase from the fourth quarter of 2013.

During the fourth quarter of 2014, the Company handled 6,815 patient treatment cases and 74,986 patient

diagnostic cases, representing a 16.2% decrease and 8.8% decrease from the fourth quarter of 2013 mainly due to the closure of two centers during the quarter.

Fiscal 2014 Full Year Results

revenues in 2014 were RMB606.9 million ($97.8 million), representing a 7.8% increase from RMB563.1 million in 2013, mainly due to the increased revenue contributions from diagnostic equipment patients.

Cost of revenues in 2014 was RMB274.6 million ($44.3 million), representing a 26.1% increase from RMB217.7 million in 2013, mainly due to the increased

network depreciation expenses from the new centers.

Gross profit in 2014 was RMB332.3 million ($53.6 million), representing a 3.8% decrease from

RMB345.5 million in 2013.

Gross profit margin in 2014 was 54.8%, compared to 61.3% in 2013.

Selling expenses in 2014 were RMB95.1 million ($15.3 million), representing a 9.1% decrease from RMB104.7 million in 2013. Selling expenses as a

percentage of total net revenues decreased to 15.7% in 2014 from 18.6% in 2013. The decrease was mainly due to decreased advertising, reception, entertainment and conference expenses.

General and administrative expenses in 2014 were RMB53.6 million ($8.6 million), representing a 36.6% decrease from RMB84.5 million in 2013. General

and administrative expenses as a percentage of total net revenues was 8.8% in 2014, compared to 15.0% in 2013. The decrease was primarily related to the collection of bad debt and decreased office expenses.

Operating income in 2014 was RMB183.6 million ($29.6 million), a 17.5% increase from RMB156.3 million in 2013.

Income tax expense in 2014 was RMB80.9 million ($13.0 million), compared to RMB63.8 million in 2013. The effective tax rate in 2014 was 46.0%.

Net income from discontinued operations in 2014 was RMB29.8 million ($4.8 million) attributable to income generated from Chang an Hospital.

Net income attributable to ordinary shareholders in 2014 was RMB124.7 million ($20.1 million), a 44.5% increase from RMB86.3 million in 2013.

The net profit margin in 2014 was 15.6%, compared to 14.3% in 2013.

Non-GAAP net income for the full year of 2014 was RMB114.0 million ($18.4

million), compared to RMB95.3 million for the full year of 2013. Non-GAAP basic and diluted earnings per ADS in 2014 were RMB2.54 ($0.41) and RMB2.53 (0.41), respectively.

Basic and diluted earnings per ADS in 2014 were RMB2.77 ($0.45) and RMB2.76 ($0.45), respectively.

Adjusted EBITDA (non-GAAP) was RMB348.6 million ($56.2 million) in 2014, representing an 9.3% increase from RMB318.9 million in 2013.

Share-based compensation expenses, which were allocated to related operating expense items, were RMB7.3 million ($1.2 million) in 2014, compared to

RMB8.8 million in 2013.

Capital expenditures were RMB107.8 million ($17.4 million) in 2014, compared to RMB159.8 million in 2013.

As of December 31, 2014, the Company had cash and cash equivalents of RMB478.7 million ($77.2 million) and restricted cash of RMB392.3

million ($63.2 million), compared to RMB283.0 million and RMB422.1 million, respectively, as of December 31, 2013.

Accounts receivable was

RMB265.0 million ($42.7 million) as of December 31, 2014, compared to RMB272.3 million as of December 31, 2013. The average period of sales outstanding for accounts receivable (also known as Days Sales Outstanding) was 159 days in 2014.

As of December 31, 2014, the Company had bank credit lines totaling RMB2.8 billion (US$456.3 million), of which RMB943.6 million ($152.1

million) were utilized.

Total property, plant & equipment net valued at RMB749.7 million ($120.8 million), compared to RMB1,

492.6 million as of December 31, 2013.

On Dec. 16, 2014, Concord Medical Services Holdings Limited announced that the Company has, through its subsidiaries, entered into a definitive agreement to

sell 52% equity interest in Chang an Hospital to the owner of the 48% equity, for a total consideration of RMB398 million (US$64.8 million, or $1=RMB 6.1376). The consideration also includes the sale of ownership interests in Chang An

CMS International Cancer Center ( CCICC ), a specialized cancer diagnosis and treatment center established between Concord Medical and Chang an Hospital in July 2010. This 100% cash transaction has been approved by the boards of

directors of both parties. The transaction was closed on Dec. 31, 2014 and the financial result of Chang an Hospital for Q4 and the full year of 2014 was included under the discontinued operations.

[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 from RMB to U.S. dollars are made at a rate of RMB6.2046 to US$1.00, the effective noon buying rate as of

December 31, 2014 in the City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York.

Each ADS represents three ordinary shares of the Company.

[3] 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), loss from disposal of property, plant and equipment and other income or expense.

Conference Call Information

Medical s management will hold an earnings conference call at 8:00 a.m. Eastern Time on March 24, 2015 (8:00 p.m. Beijing/Hong Kong time on March 24, 2015).

Dial-in details for the earnings conference call are as follows:

A replay of the conference call may be accessed by phone at the following numbers for 7 days:

Additionally, a live and archived webcast of this conference call will be available

at http://ir.concordmedical.com/.

About Concord Medical

Concord Medical Services Holdings Limited is a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and

diagnostic imaging centers in China. As of December 31, 2014, the Company operated a network of 139 centers with 80 hospital partners that spanned 56 cities and 25 provinces and administrative regions in China. Under long-term arrangements with

top-tier hospitals in China, The Company provides radiotherapy and diagnostic imaging equipment and manages the daily operations of these centers, which are located on the premises of its hospital partners. The Company also provides ongoing training

to doctors and other medical professionals in its network of centers to ensure a high level of clinical care for patients. For more information, please see http://ir.concordmedical.com.

Safe Harbor Statement

This news release may

contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements

can be identified by terminology such as anticipate, believe, estimate, expect, forecast, intend, may, plan, project, predict,

should and will and similar expressions. These forward looking statements are based upon management s current views and expectations with respect to future events and are not a guarantee of future performance.