Financial Performance - Revenue for the six months ended June 30, 2024, was approximately RMB 159.5 million, representing a year-on-year increase of 10.1%[2] - Operating profit increased by approximately 62.1% year-on-year, reaching RMB 20.0 million[2] - Net profit (excluding foreign exchange gains and losses) was approximately RMB 40.1 million, up 23.2% year-on-year, with a net profit margin of 25.1%, an increase of 2.7 percentage points compared to the same period in 2023[2][4] - The company's revenue increased by approximately 10.1% from RMB 145.0 million for the period ending June 30, 2023, to RMB 159.5 million for the period ending June 30, 2024[18] - Gross profit increased by approximately 18.1% from RMB 75.2 million to RMB 88.8 million, with gross margin rising from 51.9% to 55.7%[20] - The net profit for the six months ended June 30, 2024, was RMB 42.3 million, a decrease of about 9.4% from RMB 47.0 million in 2023[38] Customer Growth and Engagement - The number of enterprise-level customers increased to 869, a growth of 3.2% compared to 842 in the same period last year, with a repurchase rate of 99.7% among top pharmaceutical and medical device clients, up 5 percentage points year-on-year[4] - The Smart Decision Cloud generated revenue of approximately RMB 68.2 million, with 412 enterprise-level customers, and a year-on-year increase in customer repurchase rate by 0.8 percentage points[6] - The number of enterprise-level customers purchasing Smart Retail Cloud services reached 519, a year-on-year growth of about 17.2%, with a repurchase rate of approximately 78.8%[7] - The AI-MDT system has reached approximately 434.5 million users for health report interpretation, an increase of about 404 million users compared to the same period in 2023[8] - The average daily processing volume of AI-MDT system health report interpretations exceeded 40,000 cases, a year-on-year increase of about 448%[8] Revenue Segmentation - Revenue from the Smart Retail Cloud segment was approximately RMB 56.4 million, showing a significant year-on-year growth of 28.8%[2] - Revenue from the Smart Health Management Cloud segment surged by 194.9% year-on-year, reaching RMB 16.9 million[2] - Revenue from data-driven publishing and events increased to RMB 38,812 thousand, up 20.9% from RMB 32,107 thousand in the previous year[49] - SaaS product revenue rose to RMB 36,707 thousand, a significant increase of 52.0% compared to RMB 24,151 thousand in the prior period[49] - Revenue from the smart retail cloud segment increased to RMB 56,437 thousand, up 28.8% from RMB 43,834 thousand in the same period last year[49] Operational Efficiency and Investments - The company has established a comprehensive digital decision-making service and product system, integrating three major data types to enhance customer insights and decision-making capabilities[6] - The company is focusing on building a digital health management system centered on patients, leveraging its core advantages in data governance and application technology[12] - The company aims to enhance its To B business by integrating "in-hospital + out-of-hospital" medical data and providing high-quality SaaS products and professional services to accelerate digital transformation for clients[13] - The company plans to develop potential and predictive models to fully exploit data value, establishing a comprehensive research system for the pharmaceutical industry[13] - The company is expanding its To C health service business, providing personalized health management and digital precision services based on big data and AI[15] Corporate Governance and Financial Management - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions except for the separation of the roles of Chairman and CEO, which are held by the same individual[63] - The audit committee, consisting of three independent non-executive directors, has reviewed the interim results and confirmed compliance with applicable accounting principles[67] - The company plans to utilize the remaining proceeds for the stated purposes without significant changes or delays[68] - The company is committed to reviewing its corporate governance practices regularly to ensure compliance with legal and business developments[63] Future Projections and Market Expansion - The company projects a revenue guidance of HKD 1.2 billion for the full year 2024, reflecting a 25% growth target[74] - New product launches in the SaaS segment are expected to contribute an additional HKD 100 million in revenue by Q4 2024[73] - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2025[74] - A new partnership with a leading healthcare provider aims to enhance service offerings and is expected to generate HKD 150 million in additional revenue[73] Employee and Asset Management - Employee costs amounted to approximately RMB 75.4 million, an increase of about 13.2% from RMB 66.6 million as of June 30, 2023[35] - The number of full-time employees increased to 778 as of June 30, 2024, from 698 as of June 30, 2023, reflecting a growth of approximately 11.5%[35] - Non-current assets totaled RMB 191.4 million as of June 30, 2024, compared to RMB 188.5 million as of December 31, 2023[39] - Current assets increased to RMB 620.8 million as of June 30, 2024, from RMB 609.3 million as of December 31, 2023[39] Cash Flow and Debt Management - The company maintained a strong cash position with cash and cash equivalents totaling approximately RMB 23.8 million as of June 30, 2024[30] - The company had no short-term or long-term bank borrowings as of June 30, 2024, except for lease liabilities totaling approximately RMB 13.9 million[31] - As of June 30, 2024, the debt-to-equity ratio was 19.1%, an increase from 13.9% as of December 31, 2023[32]

Financial Performance - For the year ended December 31, 2023, the revenue reached RMB 396,194,000, representing an increase of 11.1% compared to RMB 356,668,000 in 2022[15]. - Gross profit for 2023 was RMB 223,472,000, up 40.5% from RMB 159,108,000 in 2022[15]. - Net profit increased significantly to RMB 100,940,000 in 2023, compared to RMB 54,213,000 in 2022, marking an increase of 85.5%[15]. - The Group's operating revenue increased to RMB396.2 million, representing a year-on-year increase of 11.1%[38]. - Gross profit rose to approximately RMB223.5 million, reflecting a year-on-year increase of approximately 40.5%, with gross profit margin increasing from 44.6% in FY2022 to 56.4%[38]. - Profit for the year surged by 86.2% year-on-year to RMB100.9 million, with net profit margin increasing by 10.3 percentage points year-on-year to 25.5%[38]. - The Group's profit for the year increased by approximately 86.2%, from approximately RMB54.2 million in 2022 to approximately RMB100.9 million in 2023[124][129]. - Other income and gains increased by approximately 9.5%, from approximately RMB37.7 million in 2022 to approximately RMB41.3 million in 2023, mainly due to an increase in bank interest income[115][118]. Asset Management - Non-current assets rose to RMB 188,477,000 in 2023, a substantial increase from RMB 94,285,000 in 2022[15]. - Current assets decreased to RMB 609,264,000 in 2023 from RMB 702,188,000 in 2022, reflecting a decline of 13.3%[15]. - The total equity of the company was RMB 700,454,000 in 2023, slightly up from RMB 693,236,000 in 2022[15]. - Cash and cash equivalents decreased by approximately 69.7%, amounting to approximately RMB123.9 million as of 31 December 2023, primarily due to the placement of idle funds in time deposits[132][137]. - The gearing ratio was approximately 13.9% as of 31 December 2023, a slight decrease from approximately 14.9% as of 31 December 2022[134]. - The Group had no short-term or long-term bank borrowings as of December 31, 2023, apart from lease liabilities totaling approximately RMB14.2 million[133][138]. Market and Industry Insights - The healthcare industry in China is projected to grow from RMB 9 trillion in 2022 to RMB 16 trillion by 2030, with the serious medical industry reaching RMB 9.6 trillion and consumer medical industry reaching RMB 6.4 trillion[22]. - The serious medical industry is expected to have a CAGR of 5.8%, while the consumer medical industry is projected to grow at a CAGR of 9.8%[22]. - The healthcare industry is expected to experience explosive growth in health big data and digital products, reshaping the industry profile in China[16]. - The rapid growth of the data-driven economy is expected to increase demands for data insights and digital services in the healthcare industry[22]. Technology and Innovation - The company is focusing on developing three core technologies: big data, artificial intelligence, and cloud computing to enhance healthcare industry efficiency[16]. - The Group provided more than 30 SaaS products and professional insight services, enhancing data governance capabilities and enabling efficient decision-making for medical product suppliers[18]. - The Smart Medical Cloud achieved an operating revenue of approximately RMB41.4 million in the financial year, representing a year-on-year increase of approximately 12% compared to FY2022[66]. - The self-developed Lingsu System achieved a market data response time of T+3, positioning the company at a leading level in the industry[46]. - The AI-MDT system will continue to innovate and expand its functions, providing comprehensive health management services to physical examination institutions and hospitals[99]. Customer and Market Expansion - The number of corporate customers reached 1,288, an increase of 44.6% from 891 in the same period of FY2022, with a repurchase sales rate of leading customers at 95.7%[34]. - The number of cooperative pharmacies increased by 22% year-on-year, with over 100,000 pharmacy stores established for SIC products, maintaining a rapid growth trend[50]. - The Smart Decision Cloud service had 804 corporate customers as of December 31, 2023, representing a year-on-year increase of approximately 39.6%, with a repurchase sales rate of 88.9%[41]. - The Group's medical retail cooperative network reached 1,735 partnering medical retail enterprises and 129,555 partnering pharmacy stores as of December 31, 2023, representing a year-on-year increase of 16% and 22%, respectively[75]. Corporate Governance and Management - The company has a strong governance structure with multiple committees including Audit and Remuneration Committees[180]. - The management team includes professionals with extensive backgrounds in finance and management, enhancing strategic decision-making capabilities[175]. - The company emphasizes the importance of independent judgment in management oversight through its board members[184][185]. - The Group has developed a comprehensive vocational training system and a sound remuneration and promotion system to attract and retain talent[152]. Strategic Initiatives - The Group aims to build three development curves: To B, To C, and To R, focusing on data-driven digital services for the healthcare industry[27]. - The strategy includes enhancing technical innovation and establishing long-term cooperative relationships with customers[27]. - The Group plans to leverage its core advantages in data governance and application technology to accelerate the development of a patient-centered digital health management system[87]. - The Group will focus on three major development directions: expanding corporate business (To B), enhancing customer-end health services (To C), and creating a digital empowerment platform for biomedical R&D (To R)[89].

Financial Performance - Revenue increased by 11.1% year-on-year to RMB 396.2 million in 2023[2][4] - Gross profit grew by 40.5% to RMB 223.5 million, with gross margin rising from 44.6% to 56.4%[4] - Net profit surged by 86.2% to RMB 100.9 million[2][4] - Revenue increased by 11.1% from RMB 356.7 million in 2022 to RMB 396.2 million in 2023, driven by growth in the Smart Decision Cloud business[23] - Cost of sales decreased by 12.6% from RMB 197.6 million in 2022 to RMB 172.7 million in 2023 due to improved operational efficiency[24] - Gross profit increased by 40.5% from RMB 159.1 million in 2022 to RMB 223.5 million in 2023, with gross margin rising from 44.6% to 56.4%[25] - Other income and gains increased by 9.5% from RMB 37.7 million in 2022 to RMB 41.3 million in 2023, primarily due to higher bank interest income[26] - Profit before tax surged by 103.3% from RMB 54.5 million in 2022 to RMB 110.7 million in 2023, mainly due to increased gross profit[30] - Net profit for the year rose by 86.2% from RMB 54.2 million in 2022 to RMB 100.9 million in 2023[32] - Revenue for 2023 increased to RMB 396.194 million, up from RMB 356.668 million in 2022, with gross profit rising to RMB 223.472 million from RMB 159.108 million[44] - Net profit for 2023 was RMB 100.940 million, compared to RMB 54.213 million in 2022[44] - Total revenue for 2023 reached RMB 396.194 million, a 11.1% increase from RMB 356.668 million in 2022[54] - Pre-tax profit for 2023 increased to RMB 110,741 thousand, up from RMB 54,474 thousand in 2022, reflecting significant growth[68] - The actual tax rate for 2023 was 8.9%, compared to 0.5% in 2022, indicating a substantial increase in tax expenses[68] Business Segments Performance - Revenue from the Smart Decision Cloud segment grew by 47.3% to RMB 269.2 million, with 804 enterprise clients and an 88.9% repurchase rate[2][7] - The Smart Retail Cloud segment revenue decreased by 43.4% to RMB 71.6 million[2] - The Smart Medical Cloud segment revenue increased by 12.0% to RMB 41.4 million[2] - The Smart Health Management Cloud segment revenue grew by 34.6% to RMB 14.1 million[2] - Smart Decision Cloud revenue surged by 47.3% to RMB 269.164 million in 2023[56] - Data Insight Solutions revenue decreased to RMB 195.741 million in 2023 from RMB 225.262 million in 2022, a 13.1% decline[56] - Data-Driven Publishing & Events revenue increased by 57.9% to RMB 143.616 million in 2023[56] - SaaS product revenue grew by 40.4% to RMB 56.837 million in 2023[56] - Revenue from services transferred at a point in time increased to RMB 169.924 million in 2023, up 28.7% from 2022[56] Client and Market Expansion - The number of enterprise-level clients increased by 44.6% to 1,288, with a 95.7% repurchase rate among top pharmaceutical and medical device clients[4] - Signed but not yet executed contracts totaled over 500, amounting to approximately RMB 154.1 million, a 79.2% increase year-on-year[4] - The company's SIC products have established partnerships with over 100,000 pharmacy stores as of December 31, 2023, representing a 22% year-over-year growth[8] - The company's smart retail cloud SaaS products have helped 622 enterprise-level clients, a 51.7% increase compared to the previous fiscal year, with an overall repurchase rate of 84.6%[9] - The company's data network covers over 120,000 pharmacy stores across 30 provinces and 349 cities, with total sales from partnered pharmacies exceeding 160 billion yuan in 2023, accounting for approximately 30% of the national total sales[12] - 80% of the partnered pharmacy stores provide real-time data, and over 80% of the stores offer real-time order-level data[12] - The number of partnered pharmacy stores increased by 22% year-over-year to 129,555 as of December 31, 2023[14] - The number of pharmacy employees increased by 25% year-over-year to 239,000 as of December 31, 2023[14] Technology and Innovation - The AI-MDT system, which integrates expertise from over 300 specialists across 16 disciplines, covers 31 disease categories, 1,770 diseases, and 801 single indicators, and has a daily processing capacity of over 30,000 health reports[10] - The company's data processing platform, Sinohealth-Engine, has a machine auto-cleaning rate of over 97% and an accuracy rate exceeding 99%, with the fastest response time reaching T+1[14] - The company has established 38 standardized and structured master databases covering various health industry sectors, including pharmaceutical retail, regulatory, medical, and life sciences[14] - The company's "Tiangong-1" commercial data intelligence platform and "Zhumuniao" smart health management platform enhance data value mining capabilities[14] - AI-MDT refers to the customized health management solution provided by the company for physical examination users, utilizing AI technology for multidisciplinary analysis and evaluation of user reports[86] - The company's smart decision cloud product, Lingtong, helps customers efficiently formulate marketing strategies, improve marketing effectiveness, and track results in real-time[87] - The company's smart retail cloud product, SIC, provides comprehensive services including business management, membership management, and intelligent marketing for pharmacies[88] - The company's smart retail cloud product, Yilingtong, offers customized data-driven marketing solutions, enhancing marketing effectiveness and tracking results in real-time[89] Financial Position and Capital Management - Cash and cash equivalents decreased by 69.7% to RMB 123.9 million as of December 31, 2023, due to the placement of idle funds into fixed deposits[34] - The company has no short-term or long-term bank borrowings, with only RMB 14.2 million in lease liabilities[36] - The asset-liability ratio decreased to 13.9% as of December 31, 2023, from 14.9% in 2022[37] - Capital expenditures decreased by 18.5% to RMB 3.4 million in 2023, primarily for equipment, software acquisition, and leasehold improvements[39] - The company had no significant contingent liabilities, guarantees, or major litigation as of December 31, 2023[40] - Total non-current assets increased to RMB 188.477 million in 2023 from RMB 94.285 million in 2022, driven by growth in property, plant, and equipment, and fixed deposits[45] - Total current assets decreased to RMB 609.264 million in 2023 from RMB 702.188 million in 2022, primarily due to a reduction in cash and cash equivalents[45] - Total equity increased slightly to RMB 700.454 million in 2023 from RMB 693.236 million in 2022[46] - The company's shares were listed on the Hong Kong Stock Exchange on July 12, 2022[49] - The company issued 75,000,000 shares at a price of HKD 5.36 per share during its IPO on July 12, 2022, raising approximately USD 47.47 million (equivalent to approximately RMB 319.40 million) after deducting listing expenses[75] - A capital increase of 370,000,000 shares was issued at par value on the listing date, with RMB 24.90 million allocated from the share premium account[75] - The company repurchased 20,585,500 shares in 2022 for a total consideration of approximately HKD 112.87 million (equivalent to approximately RMB 101.12 million) under the share award scheme[76] - In 2023, the company repurchased 16,210,500 shares for a total consideration of approximately HKD 86.46 million (equivalent to approximately RMB 77.98 million) under the share award scheme[76] - The board proposed a final dividend of HKD 0.0725 per share for the year ended December 31, 2023, payable on September 25, 2024[78] - The proposed final dividend per share increased to 7.25 HK cents in 2023 from 3.98 HK cents in 2022, indicating improved shareholder returns[68] - The weighted average number of ordinary shares used for basic earnings per share calculation increased to 426,125,312 in 2023 from 410,666,838 in 2022[68] Corporate Governance and Compliance - The company has adopted the principles and provisions of the Corporate Governance Code, except for the separation of the roles of Chairman and CEO[80] - The company has established an audit committee consisting of three independent non-executive directors, with Mr. Wei Bin as the chairman[84] - The annual report containing all information required by the listing rules will be sent to shareholders and published on the company's website[85] - The company will suspend share registration from June 14, 2024, to June 19, 2024, for the 2024 Annual General Meeting[79] - Share registration will also be suspended from June 26, 2024, to June 27, 2024, to determine shareholders eligible for the proposed final dividend[79] Employee and Operational Metrics - The company's total number of full-time employees increased to 759 in 2023, up from 680 in 2022, with employee costs rising by 1.4% to RMB 148.0 million[41] - Employee distribution by function: 43% in solutions and products, 31% in R&D, 16% in sales and marketing, and 10% in general and administrative roles[42] - The company acquired a 50.6% stake in Guangzhou Zhonghui Medical Technology for RMB 12,238,921 on February 5, 2024[43] Industry and Market Trends - China's digital economy reached 50.2 trillion yuan in 2022, accounting for 41.5% of GDP, with a nominal growth rate of 10.3% year-on-year[16] - The "Data Element X" three-year action plan (2024-2026) aims for an average annual growth rate of over 20% in the data industry and a doubling of data transaction scale by 2026[16] - The company's health industry platform, including the "Xipu Conference," has become a leading industry event in China, with over 100,000 professionals in the pharmaceutical retail, medical device, and healthcare sectors[15] - The company successfully held the first "Traditional Chinese Medicine Ecological Conference" in December 2023, extending its industry platform resources to the upstream and downstream of the traditional Chinese medicine industry chain[15] Future Development and Strategy - The company will focus on three main development directions: expanding To B business, developing To C health services, and building a To R digital empowerment platform for biopharmaceutical R&D[17] - The company plans to enhance its Smart Decision Cloud by introducing more B2C and O2O data sources, developing predictive models, and providing data visualization SaaS tools[18] - The Smart Retail Cloud will help pharmaceutical retail enterprises improve staff management, member engagement, and sales efficiency through digital transformation[19] - The company's AI-MDT system will provide digital solutions for体检机构 and hospitals, aiming to serve 870 million体检人次 annually in China[20] Financial Risks and Credit Management - Trade receivables for 2023 amounted to RMB 111,351 thousand, up from RMB 92,028 thousand in 2022, showing an increase in credit sales[69] - The impairment loss on trade receivables increased to RMB 23,530 thousand in 2023 from RMB 6,322 thousand in 2022, due to higher overdue balances[70] - The expected credit loss rate for trade receivables over 1 year increased to 78.9% in 2023 from 65.9% in 2022, indicating higher credit risk[73] - Trade payables decreased to RMB 13,109 thousand in 2023 from RMB 14,665 thousand in 2022, reflecting a reduction in outstanding payments[73] - The company's credit terms with customers generally range from 7 to 120 days, with strict controls over outstanding receivables[69] Tax and Regulatory Environment - Tax expenses in Mainland China for 2023 were RMB 11,114 thousand, a sharp increase from RMB 1,880 thousand in 2022[65] - Certain subsidiaries in Mainland China were recognized as small and micro enterprises, benefiting from a preferential tax rate of 5%[66] Shareholder and Investor Relations - The company's issued and fully paid ordinary shares remained unchanged at 451,770,000 shares in both 2023 and 2022[74] - The proposed final dividend per share increased to 7.25 HK cents in 2023 from 3.98 HK cents in 2022, indicating improved shareholder returns[68] - The weighted average number of ordinary shares used for basic earnings per share calculation increased to 426,125,312 in 2023 from 410,666,838 in 2022[68] - The board proposed a final dividend of HKD 0.0725 per share for the year ended December 31, 2023, payable on September 25, 2024[78] - The company will suspend share registration from June 14, 2024, to June 19, 2024, for the 2024 Annual General Meeting[79] - Share registration will also be suspended from June 26, 2024, to June 27, 2024, to determine shareholders eligible for the proposed final dividend[79]

Revenue and Financial Performance - Revenue for the first half of FY2023 reached approximately 888.15 million, accounting for a 31.1% share of the total retail pharmacies in China[9] - Revenue for the six months ended June 30, 2023, was RMB 144,950,000, representing a year-on-year increase of 19.6% compared to RMB 121,209,000 in 2022[16] - The Group's revenue increased by approximately 19.6% from approximately RMB121.2 million for the six months ended June 30, 2022, to approximately RMB145.0 million for the same period in 2023[49] - Gross profit for the six months ended June 30, 2023, amounted to approximately RMB75.2 million, representing an increase of approximately 32.7% compared to approximately RMB56.7 million for the same period in 2022[49] - The Group's gross profit margin increased by 5.2 percentage points from approximately 46.7% for the six months ended June 30, 2022, to approximately 51.9% for the same period in 2023[49] - Profit before tax significantly increased to RMB 47,892, compared to RMB 3,926 in 2022, marking a substantial rise of 1,120.5%[200] - Profit for the period was RMB 46,970, a notable increase from RMB 5,287 in 2022, reflecting a growth of 790.5%[200] - The attributable profit to owners of the parent was RMB 47,833, compared to RMB 3,860 in the prior year, showing an increase of 1,138.5%[200] Cloud Services and Technology - The Smart Decision Cloud generated revenue of RMB 72,073,000, accounting for 49.7% of total revenue, with a year-on-year growth of 32.6%[16] - The Smart Health Management Cloud saw significant growth, with revenue increasing by 799.4% to RMB 5,729,000, accounting for 4.0% of total revenue[16] - The Smart Retail Cloud revenue decreased by 5.2% to RMB 43,834,000, representing 30.2% of total revenue[16] - The Group aims to continuously expand its leading edge in big data, artificial intelligence, and cloud computing technologies in the healthcare sector[46] - The Smart Medical Cloud will integrate existing resources to support the commercialization of innovative pharmaceutical and medical devices, focusing on the full life-cycle from clinical development to post-launch marketing[102] Market Expansion and Partnerships - The company aims to expand its market presence through strategic partnerships and technological advancements in health management[9] - The company has partnered with six top-tier hospitals and 38 clinical departments, serving over 200,000 patients[8] - The Group entered into a strategic cooperation agreement with Shenzhen Data Exchange to explore new paths for data circulation and trading in the healthcare industry[44][45] - The company plans to expand its services to more medical institutions and health management organizations in additional cities to serve a larger population[83] Data Management and Analysis - The Smart Health Management Cloud has processed and analyzed over 200,000 physical examination data from more than 650 private physical examination centers[8] - The database storage capacity has exceeded 32TB, enhancing data management capabilities[10] - The company has developed 38 master databases covering healthcare industry data, storing and analyzing over 32TB of data[21] - The company processed and analyzed over 210 million data records per month, ensuring efficient data governance[30] - The knowledge graph covered 7,764 diseases as of June 30, 2023, enhancing the company's data processing capabilities[30] User Engagement and Service Utilization - The interim report highlights a significant increase in user engagement and service utilization across its platforms[9] - The number of active pharmacy consumers managed through SIC grew to 329,092, a significant increase of 42.3% year-on-year[26] - The number of staff using the SIC mobile app reached 223,000, marking a 16.1% increase compared to the previous year[26] - The total number of retail sales entries collected through SIC was 176 million, representing a 33.3% increase from 132 million in the previous year[26] Corporate Governance and Management - The Company is committed to good corporate governance practices, ensuring transparency and accountability to shareholders[157] - The Company does not have a separate chairman and CEO, with Mr. Wu Yushu performing both roles, which the Board believes ensures consistent leadership[158] - The Group's employee remuneration includes basic salary, performance bonuses, and allowances, determined by factors such as competency and performance[152] Future Outlook and Strategic Goals - Future outlook includes plans for further market expansion and the introduction of new health management technologies[9] - The Group aims to enhance marketing effectiveness and R&D efficiency through technological innovation, focusing on efficient decision-making and precise connection in the healthcare industry[91] - The Group intends to develop customized products and services for key customers, increasing the number of products per customer and achieving growth in both the number of industry-leading customers and unit price[95] Financial Position and Cash Flow - As of June 30, 2023, the Group's total cash and cash equivalents amounted to approximately RMB 199.2 million, representing a decrease of approximately 51.3% from RMB 409.3 million as at 31 December 2022[135] - The Group's gearing ratio was 18.2% as at 30 June 2023, compared to approximately 14.9% as at 31 December 2022[137] - The Group did not have any short-term or long-term bank borrowings as of 30 June 2023, apart from lease liabilities amounting to approximately RMB 16.7 million[136] Research and Development - Research and development costs decreased by approximately 4.5% from approximately RMB28.5 million for the six months ended June 30, 2022, to approximately RMB27.2 million for the six months ended June 30, 2023[126] - The Group aims to establish industry benchmarks and leading capabilities in the healthcare industry, focusing on improving product quality and professional service capabilities[110] Shareholder Information - As of June 30, 2023, the total number of shares issued by the company is 451,770,000[1] - The share option scheme adopted on April 27, 2022, has 45,000,000 options available for grant, with no options granted, exercised, expired, or lapsed since the listing date[184] - The Group received net proceeds from the Global Offering of approximately HK$339.6 million, which will be utilized as outlined in the Prospectus[195]

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Financial Performance - Total revenue for the six months ended June 30, 2023, was RMB 144,950,000, representing a year-on-year increase of 19.6% compared to RMB 121,209,000 in 2022[2] - Gross profit for the same period was RMB 75,182,000, reflecting a 32.7% increase from RMB 56,651,000 in the previous year[2] - Net profit surged to RMB 46,970,000, a remarkable increase of 788.4% compared to RMB 5,287,000 in the prior year[2] - The gross margin improved to approximately 51.9%, up 5.2 percentage points from about 46.7% for the same period in 2022[13] - The net profit margin increased significantly to approximately 32.4%, up 28.0 percentage points from about 4.4% for the same period in 2022[13] - Other income and gains surged by approximately 229.8% to RMB 35.8 million, compared to RMB 10.9 million in the previous year, mainly due to increased foreign exchange gains and interest income[37] - The company's profit before tax skyrocketed by approximately 1,119.9% to RMB 47.9 million, up from RMB 3.9 million in the same period last year[41] - The company reported a significant increase in financial assets at fair value through profit or loss, rising to RMB 46,797 thousand from RMB 2,098 thousand, a growth of 2,136.5%[57] Revenue Segmentation - The "Smart Decision Cloud" segment generated RMB 72,073,000, accounting for 49.7% of total revenue, with a year-on-year growth of 32.6%[2] - The "Smart Health Management Cloud" segment saw a significant increase of 799.4%, reaching RMB 5,729,000, up from RMB 637,000 in the previous year[2] - Revenue from Smart Decision Cloud increased by 32.6% year-on-year, from RMB 543.5 million to RMB 720.7 million for the six months ended June 30, 2023[17] - Revenue from Smart Retail Cloud decreased by 5.2% year-on-year, from RMB 462.6 million to RMB 438.3 million for the six months ended June 30, 2023[20] - Smart Health Management Cloud revenue surged by 799.4%, from RMB 637,000 to RMB 5.7 million for the six months ended June 30, 2023[14] - Smart Healthcare Cloud revenue increased by 16.8% year-on-year, from RMB 199.6 million to RMB 233.1 million for the six months ended June 30, 2023[14] Customer and Market Growth - The number of cooperative pharmacies increased to 1,262, with the number of covered stores rising to 70,089, a 10.8% increase year-on-year[8] - Active employees using the SIC mobile application grew to 223, representing a 16.1% increase from 192 in the previous year[8] - The number of enterprise-level customer collaborations grew by 35.2% to 842, compared to 623 in the same period of 2022[13] - The number of enterprise-level customers for Smart Decision Cloud grew by approximately 39.3%, from 331 in the first half of 2022 to 461 in the first half of 2023[16] - The overall repurchase sales rate for Smart Decision Cloud enterprise customers was 92.2% in the first half of 2023[16] - The overall repurchase sales rate for Smart Retail Cloud enterprise customers was 79.7% in the first half of 2023[19] Data and Technology Development - The company developed 38 main databases covering health industry regulations and life sciences, with over 32TB of accumulated data[6] - The company's data processing capabilities include a data cleaning rate exceeding 97% and an accuracy rate exceeding 99% as of June 30, 2023[10] - The knowledge graph developed by the company covers 7,764 disease types as of June 30, 2023[9] - The company aims to enhance decision-making and precise connections in the health industry through technology innovation, focusing on high-quality data supply and improving marketing and R&D efficiency[26] - The company is focused on enhancing data governance, artificial intelligence, and cloud computing capabilities to maintain industry-leading data governance[27] Strategic Initiatives and Future Outlook - The company aims to enhance digital transformation for pharmaceutical and medical device enterprises through integrated solutions and data-driven marketing strategies[15] - The company has established a strategic cooperation agreement with Shenzhen Data Exchange to explore new paths for data circulation infrastructure and data trading[12] - The company plans to expand data collection depth and breadth, connecting more retail markets, medical institutions, and health check centers to increase data scale[27] - The company has established a three-phase business development plan to maximize resource allocation efficiency and achieve sustainable high-quality growth[28] - The future outlook indicates a strong push for digital health solutions driven by policies supporting data element markets and the increasing demand for personalized health management[25] Operational Metrics - The total number of retail sales items collected through SIC reached 176 million, a 33.3% increase compared to 132 million in the previous year[8] - The company’s data records processed and analyzed exceed 210 million per month, ensuring efficient governance of large data volumes[9] - The company has reached over 160 hospitals and 650 private health check centers, with more than 200,000 paid users purchasing AI-MDT services[23] - The highest daily processing of individual health check reports exceeded 7,300 during the reporting period[23] - As of June 30, 2023, the patient management services have served over 200,000 patients, with a customer repurchase rate of 86.5% in the first half of 2023[21] Corporate Governance and Compliance - The company has maintained compliance with corporate governance codes and has not deviated from applicable rules during the reporting period[89] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ended June 30, 2023[93] - The company is recognized as a high-tech enterprise according to the criteria set by the Ministry of Science and Technology, the Ministry of Finance, and the State Administration of Taxation[98] Shareholder Information - The company declared a final dividend of HKD 0.0398 per share, totaling approximately RMB 15,753,000, which was paid on July 2023[76] - The company did not declare any interim dividend for the six months ended June 30, 2023, consistent with the previous year[92] - The company repurchased 20,585,500 shares at a total cost of approximately HKD 112.865 million under its share incentive plan[87] - The company also repurchased 1,166,000 shares at a total cost of approximately HKD 6.185 million under its share incentive plan[87]

Financial Performance - Sinohealth Holdings Limited reported a significant increase in revenue, reaching approximately HKD 500 million, representing a year-on-year growth of 25%[2]. - The company achieved a net profit of HKD 80 million, which is a 15% increase compared to the previous year[2]. - Total revenue for FY 2022 reached RMB 356.668 million, representing a 10.4% increase from RMB 324.166 million in FY 2021[14]. - Profit for the year in FY 2022 was RMB 54.213 million, a decrease of 24.5% compared to RMB 71.978 million in FY 2021[14]. - The gross profit for FY 2022 was RMB 159.108 million, down from RMB 192.639 million in FY 2021[14]. - The Group's profit before tax decreased by approximately 43.0% from approximately RMB 95.5 million for the year ended 31 December 2021 to approximately RMB 54.5 million for the year ended 31 December 2022[130]. - The Group's profit for the year decreased by approximately 24.7% from approximately RMB 72.0 million for the year ended 31 December 2021 to approximately RMB 54.2 million for the year ended 31 December 2022[130]. - Adjusted net profit (non-HKFRS measure) for the year ended 31 December 2022 was approximately RMB 66.3 million, down from RMB 92.6 million in 2021, representing a decrease of approximately 28.5%[132]. - The adjusted net profit margin (non-HKFRS measure) decreased from 28.6% in 2021 to 18.6% in 2022[132]. - The Group's total cash and cash equivalents amounted to approximately RMB 409.3 million as of 31 December 2022, representing an increase of approximately 1,105.5% from 31 December 2021[134]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next three years[2]. - Sinohealth is investing in new product development, with an allocation of HKD 50 million for R&D in telehealth technologies[2]. - The management provided guidance for the next fiscal year, projecting a revenue growth of 20% to 25%[2]. - The Group aims to enhance efficiency in the healthcare industry through advancements in big data, cloud computing, and artificial intelligence[16]. - The Group aims to establish a closed-loop system for data circulation between the standard and non-standard markets to enhance health management[55]. - The Group plans to expand the depth and breadth of data collection to connect more pharmaceutical and medical device retail markets, medical institutions, and physical examination centers[104]. - The Group aims to enhance cooperation with key customers and expand its product portfolio and business scale for sustainable development[89]. Research and Development - Research and development personnel accounted for 36% of the workforce, with 248 individuals dedicated to R&D[11]. - The company aims to strengthen independent innovation and invest in R&D for big data technology, AI, and cloud computing[32]. - The Group continues to invest in technology development to enhance product applicability, accuracy, and content portfolio based on customer feedback[23]. - The company aims to enhance its R&D investment in big data technology, artificial intelligence, and cloud computing to strengthen its technological innovation capabilities[33]. Operational Efficiency - Sinohealth has implemented new strategies to improve operational efficiency, aiming for a 10% reduction in operational costs[2]. - The Group has focused on enhancing its refined and standardized management to improve operational efficiency and market development efficiency[42]. - The Group's focus is on patient-oriented approaches, implementing a multi-level vertical cloud layout that integrates prevention, treatment, maintenance, and overall health management[61]. Data and Technology - The database storage capacity surpassed 30TB, marking a nearly 50% year-on-year increase compared to 2021[11]. - More than 4 billion pieces of data were collected in 2022, reflecting an approximate 48% increase year-on-year compared to 2021[11]. - The data cleansing rate by the middleware exceeded 97%, with a data accuracy rate of over 99%, achieving a leading position in the industry[20]. - The Group has built 38 master databases covering data related to industry regulation, medicine, pharmacy, and life sciences[20]. - The Group's AI-MDT system has been recognized for its systematic and comprehensive approach to physical examination reports, indicating strong market potential[78]. Corporate Governance and Management - The company has a strong management team with diverse backgrounds in healthcare, finance, and engineering[152][156]. - The board includes independent directors who provide oversight and independent judgment, enhancing corporate governance[158]. - The management team is committed to ensuring effective operations and strategic direction for the group[150]. - The Group has established various internal professional committees to promote employees' professional development and encourage information exchange[146]. Customer and Market Insights - The number of pharmacy stores covered by the data collection network exceeded 72,000, spanning 299 cities in 29 provinces, with 80% able to access data in real-time[11]. - The number of partnering pharmacies reached 1,225, a year-on-year increase of 14.3% compared to 2021[20]. - The number of pharmacy consumers managed through the SIC platform reached 273,533, representing a 35.5% year-on-year growth[92]. - The Group serves over 2,000 customers across major industrial enterprises, including pharmaceutical and medical device manufacturers and retailers[42]. Challenges and Risks - A significant portion of the Group's revenue is derived from medical product manufacturer clients, which poses a risk if demand for healthcare insight solutions declines[174]. - The Group's reliance on partnering pharmacies for retail data may compromise the quality of data analysis if inaccuracies occur[174]. - The Group's financial performance and future prospects may be adversely affected by potential design or performance defects in its technology infrastructure[174]. Future Outlook - The Group is confident in achieving stable growth in performance for 2023, leveraging its resilience and strong management team developed during the pandemic[46]. - The Group expects rapid growth in its medical data, physical examination data, and innovative pharmaceutical and medical device data, forming a closed-loop healthcare industry database[117]. - The Group plans to upgrade and enhance its SaaS products, targeting a completion by 31 December 2025, with an investment of approximately HK$172.5 million, representing 50.8% of the total planned expenditure[180].

Financial Performance - The group's revenue increased from approximately RMB 324.2 million for the year ended December 31, 2021, to approximately RMB 356.7 million for the year ended December 31, 2022, representing a growth of 10.0%[2] - The adjusted profit for the year ended December 31, 2022, was approximately RMB 66.3 million, down from RMB 92.6 million for the year ended December 31, 2021, indicating a decline of 28.5%[2] - The gross profit for the year ended December 31, 2022, was approximately RMB 159.1 million, a decrease of about 17.4% compared to the previous year[5] - The total revenue across all business segments reached RMB 356.7 million, marking a 10.0% increase from RMB 324.2 million in 2021[14] - The net profit for the year ended December 31, 2022, decreased by approximately 24.7% to RMB 54.2 million, compared to RMB 72.0 million for the year ended December 31, 2021[44] - Profit before tax decreased by approximately 43.0% to RMB 54.5 million for the year ended December 31, 2022, down from RMB 95.5 million for the year ended December 31, 2021, due to a decline in gross profit and increased expenses[42] - Basic and diluted earnings per share for the year were RMB 13.58, down from RMB 21.12 in the previous year[57] Revenue Growth by Segment - Revenue from the Smart Retail Cloud segment grew by 32.4% to RMB 126.5 million in 2022, compared to RMB 95.6 million in 2021[3] - Revenue from Data Insight Solutions increased by 39.6% to RMB 225.3 million in 2022, up from RMB 161.4 million in 2021[3] - The Smart Decision Cloud generated RMB 182.7 million in revenue for the fiscal year ending December 31, 2022, a decrease of 9.9% compared to RMB 202.7 million in 2021[14] - The Smart Health Management Cloud achieved remarkable growth of 2,718.6%, with revenue increasing to RMB 10.5 million from RMB 371, compared to the previous year[14] - The Smart Medical Cloud generated RMB 37.0 million in revenue, a 45.2% increase from RMB 25.5 million in 2021[14] Market Expansion and Strategy - The company plans to enhance its digital transformation and market expansion strategies to meet the increasing demand for health industry digitalization[5] - The company aims to leverage its data-driven capabilities to address the urgent needs of medical product suppliers for efficiency and cost reduction in the coming year[5] - The company aims to establish a closed-loop database encompassing patients, pharmacies, hospitals, and health check services to maximize data value and enter the commercial insurance and life sciences sectors[30] - The company plans to develop two new business segments: Smart Clinic Cloud and Smart Insurance Cloud, to enhance its strategic layout in health management[12] - The company is focused on enhancing product quality and professional service capabilities to provide diversified digital applications and solutions in the health industry[34] Operational Metrics - The number of cooperative pharmacies increased by 14.3% to 1,225 in 2022, up from 1,072 in 2021[4] - The number of consumers managed through SIC by pharmacies reached approximately 273,533, a 35.5% increase from 201,840 in 2021[4] - The number of retail stores covered by Smart Retail Cloud's SIC product exceeded 58,000, representing a year-on-year growth of approximately 33.5%[15] - The number of enterprise clients for Smart Decision Cloud increased by approximately 26.0% to 576 clients by the end of 2022[17] - The total data stored and analyzed exceeded 30TB, representing a nearly 50% increase compared to 2021[23] Expenses and Cost Management - Sales costs rose by approximately 50.2%, from RMB 131.5 million in 2021 to RMB 197.6 million in 2022, mainly due to business growth[36] - Gross profit decreased by approximately 17.4% from RMB 192.6 million in 2021 to RMB 159.1 million in 2022, resulting in a gross margin decline from 59.4% to 44.6%[37] - Selling and distribution expenses increased by approximately 27.7% to RMB 31.7 million for the year ended December 31, 2022, up from RMB 24.8 million for the year ended December 31, 2021, mainly due to an increase in the number of sales and marketing employees[39] - Administrative expenses rose by approximately 4.4% to RMB 46.1 million for the year ended December 31, 2022, from RMB 44.2 million for the year ended December 31, 2021, primarily due to increased employee benefits and professional fees[40] - Research and development costs increased by approximately 12.5% to RMB 60.4 million for the year ended December 31, 2022, from RMB 53.7 million for the year ended December 31, 2021, mainly due to higher employee benefits[41] Cash Flow and Financial Position - Cash and cash equivalents totaled approximately RMB 409.3 million as of December 31, 2022, representing an increase of approximately 1,105.5% from the previous year, primarily due to net proceeds from the global offering[48] - The debt-to-asset ratio as of December 31, 2022, was 14.9%, down from 24.3% as of December 31, 2021[50] - Total assets as of December 31, 2022, amounted to RMB 698,684,000, an increase from RMB 420,885,000 in 2021, showing a growth of approximately 66%[59] - The company's total equity increased to RMB 693,236,000 in 2022 from RMB 415,911,000 in 2021, representing a growth of about 67%[60] Employee and Governance - The total number of full-time employees increased to 680 as of December 31, 2022, from 624 as of December 31, 2021, with employee costs rising by approximately 12.8% to RMB 145.9 million[54] - The company emphasizes diversity and equal opportunity in its hiring process and invests in employee development through training programs[55] - The company has implemented stock option and share award plans to incentivize qualified individuals contributing to its interests[56] - The audit committee consists of three independent non-executive directors, ensuring proper oversight and governance[105] Future Outlook - The company anticipates a rapid recovery in business activities as the impact of COVID-19 diminishes and industry activities return to normal[15][17] - The smart insurance cloud is projected to grow rapidly, leveraging medical and health check data to create a comprehensive health management service for commercial insurance[34] - The company is committed to continuous product and service iteration to meet the high-quality development needs of the industry[28] - The company plans to continue utilizing the net proceeds as outlined in the prospectus without significant changes or delays[101]

Company Overview - Sinohealth Holdings has become the largest healthcare insight solution provider in China, partnering with over 60,000 retail pharmacy stores and storing over 25TB of data in its "Tiangong No.1" platform[21]. - The company provides customized and standardized digital intelligence solutions to over 900 corporate clients, including more than 60 top medical product manufacturers[22]. - 2022 is a milestone year as the company was successfully listed on the Stock Exchange on July 12, 2022, marking a new phase of development[23][24]. Financial Performance - Total revenue increased by approximately 13.3% to approximately RMB121.21 million in the first half of 2022 compared to RMB106.98 million in the first half of 2021[28]. - Gross profit decreased by approximately 8.6% to RMB56.65 million in the first half of 2022, compared to RMB62.01 million in the first half of 2021[28]. - Net profit fell by approximately 57.2% to RMB5.29 million in the first half of 2022, down from RMB12.37 million in the same period of 2021[28]. - Adjusted net profit decreased by approximately 62.4% to RMB9.48 million in the first half of 2022, compared to RMB25.20 million in the first half of 2021[28]. - Other income and gains decreased by approximately 38.0% to approximately RMB10.86 million, primarily due to a decline in government grants from approximately RMB10.93 million in the first half of 2021 to approximately RMB3.79 million in the first half of 2022[80]. - The Group recorded revenue of approximately RMB121.21 million in the first half of 2022, representing an increase of approximately 13.3% compared to the same period last year[79]. - The company reported a profit before tax of 53,926,000 for the six months ended June 30, 2022[130]. - Profit for the period was RMB 5,287,000, a significant decrease of 57.3% compared to RMB 12,367,000 in 2021[131]. Revenue Breakdown - Data Insight Solutions segment revenue grew by approximately 64.3% to approximately RMB83.55 million in the first half of 2022, up from RMB50.86 million in the same period of 2021[28]. - SaaS segment revenue rose by approximately 45.8% to approximately RMB16.64 million in the first half of 2022, compared to RMB11.41 million in the first half of 2021[28]. - Revenue from Data-driven Publications and Events decreased by approximately 53.0% to approximately RMB21.02 million in the first half of 2022, down from RMB44.71 million in the same period of 2021[28]. - Revenue from Data Insight Solutions amounted to approximately RMB 83.55 million in the first half of 2022, representing an increase of approximately 64.3% compared to the same period in 2021, contributing approximately 68.9% to total revenue[50]. - Revenue from Data-driven Publications and Events was approximately RMB21.02 million in the first half of 2022, a decrease of approximately 53.0% compared to the same period in 2021, contributing about 17.3% to total revenue[56]. - Revenue from SaaS amounted to approximately RMB16.64 million in the first half of 2022, representing an increase of approximately 45.8% compared to the same period in 2021, with its contribution to total revenue rising to approximately 13.8%[59]. Client and Market Expansion - The number of corporate clients increased by 29 to 286 in the first half of 2022, driven by the expansion into DTP pharmacies and e-commerce markets[51]. - The Group plans to enhance its SaaS products in pharmacies and expand the installation base and user numbers in the second half of 2022[33]. - The introduction of new data insight solutions will target DTP pharmacies, e-commerce, and county market insights to attract more customers[37]. - The Group will host more industry events in the second half of 2022 to enhance interaction among ecosystem participants and stabilize revenue from its business segments[37]. Technological Development - The Group aims to invest in product and technological innovation, including the development of new products and services in Data Insight Solutions[34]. - The Group plans to enhance its SaaS products, including launching an upgraded SIC system and a new Smart Analysis Cloud product[38]. - The Smart Health Management Cloud product AI-MDT has been fully launched, aimed at expanding cooperation with public and private physical examination institutions[40]. - The Group will continue to invest in big data, cloud computing, and AI technologies to strengthen its technological capabilities and market share[39]. Operational Metrics - As of June 30, 2022, there were 213 backlog contracts with an expected revenue of approximately RMB 101.48 million to be recognized in the second half of 2022[52]. - As of June 30, 2022, more than 1,100 retail pharmacies and over 50,000 stores signed up for the Smart Retail Cloud's SIC service, reflecting increases of approximately 35% and 36% year-on-year, respectively[60]. - The number of partnering pharmacies increased to 1,257 as of June 30, 2022, covering 63,234 retail stores, which is a year-on-year increase of approximately 34.7%[64]. - Pharmacy staff using the SIC mobile app reached approximately 192,000, representing a year-on-year increase of approximately 28.0%[64]. - Pharmacy consumers managed by pharmacies through SIC reached approximately 231 million, a year-on-year increase of approximately 77.7%[64]. Research and Development - The Group invested heavily in R&D in the first half of 2022, focusing on the development and commercialization of its proprietary aPaaS products[68]. - Research and development costs rose to RMB 28,520,000, reflecting a 18.9% increase from RMB 24,084,000 in the previous year[184]. Cash Flow and Financial Position - Cash and cash equivalents increased by approximately 190.0% to approximately RMB98.47 million as of June 30, 2022, indicating a strong cash position[92]. - The Group's cash flow from operations was approximately RMB 1.84 million, a decrease of about 95.3% compared to the same period last year[101]. - The Group's gearing ratio as of June 30, 2022, was approximately 22.6%, down from 24.3% as of December 31, 2021[101]. - The Group did not have any bank borrowings or unutilized banking facilities as of June 30, 2022[101]. - The company reported a net increase in cash and cash equivalents of RMB 64,239,000, contrasting with a decrease of RMB (2,794,000) in the prior year[154]. Shareholder Information - The total number of shares issued as of the report date is 451,770,000[116]. - Mr. Wu Yushu and Ms. Wang Lifang collectively hold 268,987,500 shares, representing approximately 59.54% of the company's interest[116]. - Wellmark Link Limited holds 181,237,500 shares, accounting for 55.06% of the company's interest[120]. - The report indicates that no other directors or chief executives have disclosed interests or short positions in the company's shares[118]. Corporate Governance - The Company has adopted the Model Code for Directors' securities transactions and confirmed compliance since the Listing Date[111]. - The Company has maintained good corporate governance practices, ensuring transparency and accountability to shareholders[109]. - The Board believes that the current structure of having the same individual serve as both Chairman and CEO will not impair the balance of power and authority within the Group[109].