Revenue Performance - Total revenue for the six months ended June 30, 2022, decreased significantly, with a year-on-year decline of 49.2% in medical conference services revenue and 80.8% in patient education and self-testing services revenue[10]. - The company's revenue decreased by approximately 49.2% from RMB 339.8 million for the six months ended June 30, 2021, to RMB 172.5 million for the six months ended June 30, 2022[24]. - Revenue from medical conference services dropped by about 46.6% from RMB 208.5 million to RMB 111.3 million, primarily due to short-term lockdowns caused by COVID-19 in several provinces of China[25]. - Patient education and self-testing services revenue fell by about 80.8% from RMB 74.3 million to RMB 14.3 million, also due to short-term lockdowns[28]. - The company reported a total revenue of RMB 200 million for the six months ended June 30, 2022, compared to RMB 124.81 million from the global offering in 2021[153]. Customer and User Growth - The number of registered doctors reached 384,965, with online doctor education activities totaling 46,518 sessions and online patient education activities reaching 25,687 sessions by June 30, 2022[14]. - The number of registered patients increased by 321.2% to 200,545 compared to June 30, 2021, while registered doctors grew by 69.9%[14]. Digital Marketing and Product Development - The company plans to enhance its digital marketing business scale in the second half of 2022, focusing on providing precise and efficient digital medical and marketing solutions to new customer groups[16]. - The company aims to optimize its products and services in response to the rise of the domestic innovative biopharmaceutical industry, particularly expanding its business in oncology and chronic kidney disease[19]. - The company has developed multiple digital marketing platforms and products, including the Giraffe Smart Medical Platform and Digital Patient Management Platform, to support its digital marketing initiatives[14]. - The company continues to explore and optimize its internet healthcare platform and business model, focusing on enhancing user privacy and information security through blockchain technology[21]. Financial Performance and Losses - The company recorded a net loss of approximately RMB 48.2 million for the six months ended June 30, 2022, representing an increase of about 195.7% from a loss of RMB 16.3 million for the same period in 2021, attributed to significant revenue and gross profit declines due to short-term lockdowns in multiple provinces in China[42]. - The loss before tax for the period was RMB (48,587) thousand, compared to RMB (14,415) thousand in 2021, reflecting a worsening financial performance[77]. - Total comprehensive loss for the period amounted to RMB (51,868) thousand, compared to a gain of RMB 9,137 thousand in the same period last year[77]. - Basic loss per share was RMB (24.88), a significant increase from RMB (9.01) in the previous year[77]. Expenses and Cost Management - Overall gross profit decreased from approximately RMB 35.8 million to RMB 17.3 million, with a slight decline in gross margin from 10.5% to 10.0%[33]. - Sales expenses decreased by approximately 2.9% from RMB 10.2 million to RMB 9.9 million, as the company implemented cost control measures in response to the significant drop in sales[35]. - Administrative expenses increased by approximately 2.6% from RMB 30.8 million for the six months ended June 30, 2021, to RMB 31.6 million for the six months ended June 30, 2022, primarily due to overall expansion-related office expenses[36]. - R&D expenses surged by 303.1%, rising from approximately RMB 6.4 million for the six months ended June 30, 2021, to RMB 25.8 million for the six months ended June 30, 2022, driven by projects in digital marketing solutions, digital healthcare solutions, and AI online platform development[37]. Cash Flow and Liquidity - Cash and bank balances decreased by 37.4%, from approximately RMB 165.3 million as of December 31, 2021, to approximately RMB 103.5 million as of June 30, 2022, reflecting the company's efforts to maintain optimal liquidity[55]. - The net cash used in operating activities for the six months ended June 30, 2022, was RMB (8,658) thousand, compared to RMB 2,023 thousand for the same period in 2021[90]. - The net cash used in investing activities amounted to RMB (50,887) thousand for the six months ended June 30, 2022, compared to RMB (47,743) thousand in 2021[90]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 342,592 thousand, down from RMB 366,700 thousand at the end of 2021[80]. - Current liabilities increased to RMB 90,050 thousand from RMB 57,270 thousand, indicating a rise in short-term financial obligations[84]. - The company's net assets decreased to RMB 244,578 thousand from RMB 293,487 thousand, reflecting a decline in overall financial health[84]. Shareholder Information and Equity - The total number of issued shares remained at 200,000,000 since the company's listing[60]. - The company’s major shareholders include Mr. Shi Zhuo, Mr. Yang Wei Min, and Ms. Zhang Yitao, collectively holding significant stakes[199]. - The total issued shares of the company as of June 30, 2022, were 200 million shares, with various shareholders holding substantial percentages[198]. Future Outlook - Revenue growth rates for the next five years are projected at 15%, 12%, 10%, 5%, and 2%, with a long-term growth rate of 2% beyond that period[139]. - The company plans to utilize approximately 58% of the net proceeds from its global offering to expand its customer base and disease coverage, 25% for developing internet hospital services, 12% for operational funds, and 5% for expanding CRO services[73].

Financial Performance - Total revenue for 2021 reached RMB 708.4 million, an increase of approximately 63.8% compared to RMB 432.3 million in 2020[10] - Gross profit for 2021 was RMB 93.6 million, slightly down from RMB 96.3 million in 2020, indicating a gross margin of about 13.2%[10] - The net profit attributable to the owners of the company for 2021 was RMB 4.6 million, a significant decrease from RMB 21.0 million in 2020[10] - The company's total revenue for 2021 reached RMB 708.4 million, representing a year-on-year growth of 63.9% compared to 2020[24] - Overall gross profit decreased to approximately RMB 93.6 million, with gross profit margin dropping from 22.3% to 13.2%[41] - Net profit for the year decreased by 76.4% from approximately RMB 22.0 million for the year ended December 31, 2020, to approximately RMB 5.2 million for the year ended December 31, 2021, attributed to lower gross margins and increased employee costs[51] Revenue Growth - Revenue from patient education and self-testing services increased by approximately RMB 152.1 million compared to the previous year[14] - Marketing strategy and consulting service revenue rose by approximately RMB 121.2 million, representing a growth of 36.8% compared to 2020[17] - Revenue from medical conference services rose by 65.1% to approximately RMB 424.2 million, driven by increased online medical seminars[34] - Patient education and self-testing services revenue surged by 88.0% to about RMB 152.1 million, with online education activities contributing approximately RMB 101.5 million[36] - Marketing strategy and consulting services revenue grew by 36.8% to around RMB 121.2 million, attributed to market expansion by five major clients[37] - Internet hospital services revenue skyrocketed by 975.0% to about RMB 4.3 million, with active patient users rising from 1,659 to 9,011[38] Assets and Liabilities - The total assets of the company as of December 31, 2021, amounted to RMB 366.7 million, up from RMB 280.1 million in 2020, reflecting a growth of 30.9%[10] - The total liabilities decreased to RMB 73.2 million in 2021 from RMB 109.1 million in 2020, showing a reduction of 33%[10] - The total equity of the company increased to RMB 293.5 million in 2021 from RMB 171.0 million in 2020, marking a growth of 71.1%[10] Operational Highlights - The number of registered doctors on the medical internet hospital platform increased by approximately 30,761, representing a growth of 63.8% compared to the previous year[17] - The number of registered doctors on the internet hospital platform increased to 30,761, a growth of 63.8% from 2020, while patient users reached 86,729, marking a significant increase of 235.2%[26] - The company assisted over 1,000 grassroots vascular health management centers in activities related to stroke and chest pain centers by the end of 2021[24] - The company conducted 37,684 online doctor education events and 29,168 patient education events, with a total of 5,635 videos produced, achieving 20,543 doctor views and 108,814 patient views[25] Strategic Plans - The company plans to continue optimizing its medical and marketing services in the cardiovascular specialty field while expanding its professional services in oncology[28] - The company aims to enhance its internet hospital services and business scale by upgrading platform construction and collaborating with well-known internet companies on information security and user privacy[29] - The company intends to improve its digital marketing business model and scale by leveraging software tools and search engines to empower doctors and provide efficient solutions for enterprises[30] - The company is committed to becoming an innovator in chronic disease management, focusing on improving patient clinical outcomes and building a professional, equitable, and intelligent health product and service platform[30] - The company has initiated the development of innovative digital products and applications to integrate smart technology with medical needs[24] - The company is exploring digital therapy for stroke recovery as a significant growth engine for its future[30] Corporate Governance - The board of directors is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[84] - The board held six meetings and one annual general meeting during the year ended December 31, 2021, with full attendance from all directors[95] - The company has appointed at least three independent non-executive directors, meeting the requirements of the listing rules[97] - The board is collectively responsible for the overall management, strategic planning, and significant operational decision-making of the group[101] - The company has established a robust internal control and risk management system to monitor operational and financial performance[101] - The Audit Committee held two meetings during the reporting period to review the financial information and internal control systems[115] Shareholder Communication - The company maintains open communication channels with shareholders to protect their rights and interests[171] - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[180] - The company has adopted a shareholder communication policy to ensure appropriate responses to shareholder opinions and concerns[183] - The company is committed to maintaining ongoing dialogue with shareholders, particularly through annual general meetings and other shareholder meetings[180] - Shareholders can submit proposals for consideration at the annual general meeting at least 15 business days prior to the meeting date[175] Employee and Director Information - The employee count increased to 408 as of December 31, 2021, up from 392 in the previous year, with employee costs amounting to RMB 81.2 million, a 40.7% increase from RMB 57.7 million[71] - The company issued 15,170,000 restricted share units during the reporting period, resulting in share-based compensation of approximately RMB 14.5 million[71] - The board consists of 1 female and 10 male directors, indicating a gender diversity ratio of approximately 9.1% female to 90.9% male[126][127] - The board includes 3 American and 8 Chinese directors, reflecting a diverse ethnic composition[129][130] - Age distribution shows 1 director aged 31-40, 1 aged 41-50, and 6 aged 51-60, indicating a range of experience levels[132][133][134]

Revenue Growth - Total revenue for the six months ended June 30, 2021, reached approximately RMB 339.8 million, representing a year-on-year growth of 145.0%[9] - Revenue from medical conference services increased by 177.7% year-on-year[7] - Revenue from patient education and self-testing services grew by 170.7% year-on-year[7] - The company's revenue increased by 145.0% from approximately RMB 138.7 million for the six months ended June 30, 2020, to approximately RMB 339.8 million for the six months ended June 30, 2021[17] - Revenue from medical conference services rose by 177.7% to approximately RMB 208.5 million, primarily due to increased income from online medical seminars[18] - Patient education and self-testing services revenue grew by 170.7% to approximately RMB 74.3 million, attributed to the successful transition of services to online platforms[20] - Marketing strategy and consulting services revenue increased by 54.0% to approximately RMB 51.0 million, driven by market expansion efforts from three major clients[21] - CRO services revenue rose by 40.1% to approximately RMB 4.1 million, reflecting successful development and expansion of the service launched in late 2019[22] - Internet hospital services revenue surged by 2,510% to approximately RMB 1.8 million, with active patient users increasing from 3,194 to 6,918[22] User Growth - The number of registered doctors reached 26,629, a year-on-year increase of 690.2%[11] - The number of registered patients on the mobile platform reached 47,614, reflecting a year-on-year growth of 391.0%[11] - Online consultations totaled 44,534, marking a year-on-year increase of 577%[11] Business Development and Strategy - The company established business partnerships with 5 domestic and international pharmaceutical companies in the first half of 2021[10] - The company aims to expand its internet medical services and digital transformation, focusing on chronic disease management[13] - New business models are being developed to cover the entire patient journey, including disease prevention, diagnosis, treatment, and health management[13] - The company is collaborating with 4 non-governmental organizations to support chronic disease management through public welfare initiatives[10] - The company plans to enhance its digital health management services for chronic disease patients and develop a comprehensive medical ecosystem[14] - The introduction of high-end technical talent and digital product development personnel is part of the company's strategy to build an innovative healthcare ecosystem[14] - The company aims to optimize its internet medical service platform to improve patient treatment outcomes and healthcare efficiency[14] Financial Performance - Overall gross profit increased to approximately RMB 35.8 million, while the gross profit margin decreased from 20.3% to 10.5% due to lower profit margins from online services[26] - Other income increased by 610.0% from approximately RMB 1.0 million for the six months ended June 30, 2020, to approximately RMB 7.2 million for the six months ended June 30, 2021, mainly due to government subsidies related to the successful listing of approximately RMB 5.0 million and increased VAT refunds[27] - Sales expenses rose by 76.9% from approximately RMB 5.8 million for the six months ended June 30, 2020, to approximately RMB 10.2 million for the six months ended June 30, 2021, primarily due to share-based payment expenses of approximately RMB 1.4 million and increased employee costs from overall business expansion[28] - Administrative expenses increased by 68.4% from approximately RMB 18.3 million for the six months ended June 30, 2020, to approximately RMB 30.8 million for the six months ended June 30, 2021, mainly due to share-based payment expenses of approximately RMB 8.1 million and increased travel and business expenses[29] - R&D expenses decreased by 11.5% from approximately RMB 7.2 million for the six months ended June 30, 2020, to approximately RMB 6.4 million for the six months ended June 30, 2021, primarily due to resource allocation towards developing internet hospital services in the previous period[30] - Listing expenses increased by 222.7% from approximately RMB 3.5 million for the six months ended June 30, 2020, to approximately RMB 11.3 million for the six months ended June 30, 2021, mainly due to the recognition of service fees related to the listing and increased reimbursement costs[32] - Financial costs rose by 72.2% from approximately RMB 0.4 million for the six months ended June 30, 2020, to approximately RMB 0.6 million for the six months ended June 30, 2021, primarily due to increased interest expenses from lease liabilities related to office expansion[33] - The net loss for the period increased by 305.8% from approximately RMB 4.0 million for the six months ended June 30, 2020, to approximately RMB 16.3 million for the six months ended June 30, 2021, driven by increased listing expenses and share-based payment expenses[35] - The company reported a loss before tax of RMB 14,415 thousand for the six months ended June 30, 2021, compared to a loss of RMB 4,568 thousand in the same period of 2020[101] - The company reported a pre-tax loss of RMB 15,794,000 for the six months ended June 30, 2021, compared to a loss of RMB 2,278,000 for the same period in 2020, representing a significant increase in losses[180] - The basic loss per share for the six months ended June 30, 2021, was RMB 9.01, compared to RMB 1.75 for the same period in 2020, indicating a deterioration in financial performance[180] Assets and Liabilities - Current assets net value increased to approximately RMB 201.1 million as of June 30, 2021, from approximately RMB 117.2 million as of December 31, 2020[44] - As of June 30, 2021, the company's outstanding lease liabilities amounted to approximately RMB 24.3 million, a decrease from RMB 25.4 million as of December 31, 2020[46] - The total assets as of June 30, 2021, were RMB 398,288 thousand, an increase from RMB 280,080 thousand as of December 31, 2020[121] - The company’s total equity attributable to owners as of June 30, 2021, was RMB 278,331 thousand, up from RMB 161,175 thousand at the beginning of the year, reflecting a growth of approximately 72.8%[141] - The company’s total liabilities increased, reflecting ongoing investments and operational costs, although specific figures were not detailed in the provided content[146] Cash Flow and Investments - Cash and cash equivalents at the end of the period amounted to RMB 139,318 thousand, an increase from RMB 65,534 thousand at the end of the previous year, reflecting a growth of approximately 112.5%[144] - The company reported a net cash inflow from operating activities of RMB 2,023 thousand, compared to RMB 2,927 thousand for the same period in 2020, representing a decrease of approximately 30.9%[144] - The company incurred a net cash outflow from investing activities of RMB 47,743 thousand, compared to RMB 7,627 thousand in the prior year, indicating increased investment expenditures[144] - The company raised RMB 97,802 thousand through a global offering of new shares, significantly enhancing its capital reserves[144] - The company plans to utilize the net proceeds from its IPO for future projects as outlined in the prospectus, with no other significant investment plans disclosed as of June 30, 2021[59] - The company has a remaining balance of HKD 69.3 million from the proceeds that will be deposited in licensed banks in Hong Kong and China as interest-bearing deposits[69] Goodwill and Impairment - The goodwill impairment test conducted as of June 30, 2021, showed that the recoverable amount for the cash-generating units was based on a pre-tax discount rate of 17% and projected cash flows for the next five years with growth rates of 8%, 6%, 4%, 2%, and 2%[190] - The goodwill associated with Beijing Haice was RMB 591,000 thousand, with no impairment loss recognized as of June 30, 2021[189] - The goodwill associated with Beijing Baichuan was RMB 371,000 thousand, with a projected revenue growth rate of 15%, 12%, 10%, 5%, and 2% over the next five years[191] - The goodwill associated with Beijing Weiliandong was RMB 2,153,000 thousand, with a projected revenue growth rate of 2%, 2%, 2%, and 3% over the next five years[195] - The company has maintained a consistent pre-tax discount rate of 15% for goodwill impairment testing as of June 30, 2021, reflecting stable market conditions[195] - The projected cash flow growth rate beyond five years is estimated at 3%, indicating a conservative long-term growth outlook[190] Tax and Dividends - The current tax expense for the six months ended June 30, 2021, was RMB 1,311,000, a significant increase from RMB 181,000 in the same period of 2020[169] - The company has not declared or proposed any dividends for the six months ended June 30, 2021, consistent with the previous year[175] - The company has no plans to distribute retained earnings from its Chinese subsidiaries, thus no deferred tax liabilities for withholding tax have been recognized[174] Employee Costs and Investments - Employee costs for the six months ended June 30, 2021, were approximately RMB 39.7 million, representing a 32.0% increase from approximately RMB 30.0 million for the same period in 2020[54] - The company made investments in intangible assets totaling RMB 22,387,000 for the six months ended June 30, 2021, compared to RMB 5,013,000 in the prior year, indicating a substantial increase in investment in this area[181] - The company incurred depreciation of property, plant, and equipment amounting to RMB 1,678,000, an increase from RMB 1,406,000 in the prior year[180] - The company recognized intangible asset amortization of RMB 4,283,000 for the six months ended June 30, 2021, compared to RMB 3,336,000 in the previous year, marking a 28% increase[180] Other Financial Information - The company has not engaged in any major acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[57] - The company did not hedge any foreign currency fluctuations during the reporting period and does not face significant foreign exchange risk due to most transactions being settled in RMB[51] - The group sold part of its financial products for a total amount of RMB 52,190 thousand during the six months ended June 30, 2021, compared to RMB 5,676 thousand for the same period in 2020, indicating a substantial increase in sales activity[185] - The fair value of the company's investment in Lingchuang Yiguan as of June 30, 2021, was approximately RMB 21.1 million, accounting for about 5.31% of the total assets of RMB 398.2 million[56] - The company sold 3.29% of its stake in Lingchuang Yiguan for a cash consideration of RMB 10 million on July 2, 2021[63]

麥迪衛康健康醫療管理科技股份有限公司 Mediwelcome Healthcare Management & Technology INC. (於開曼群島註冊成立的有限公司) 股份代號：2159 年報 2020 | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|----------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 目 | 錄 | | | | | | | | 2 | 公司資料 | | | | | | | | 4 | 財務摘要 | | | | | | | | 5 | 業務亮點 | | | | | | | | 6 | 董事長致辭 | | | | | | | | 7 | 管理層討論及分析 | | | | | | | | 14 | 企業管治報告 | | | | | | | | 31 | 董事及高級管理層簡介 | | | | | | | | 40 | ...