近日,通用环球医疗集团有限公司("环球医疗",2666.HK)正式发布《2024年度环境、社会及管治(ESG)报 告》,系统披露了环球医疗履行环境、社会及管治责任的理念与实践,积极回应了主要利益相关方所关注 的重要议题。 2024年,环球医疗将董事会下属战略委员会正式更名为战略与ESG委员会,首次制定了公司级ESG战略体 系,标志着ESG建设迈入了战略驱动的更高阶段。围绕"以科技进步和品质服务引领美好生活"的企业使 命,环球医疗通过将ESG理念融入公司战略运营与管理体系中,打造可持续的公司治理,努力实现企业发展 与为人民服务相协调、与员工成长相协调、与环境可持续发展相协调,及与利益相关方共赢。 作为央企办医的代表性企业,环球医疗长期深耕对人类文明进程具有深远意义和持久价值的医疗健康领 域,锚定国家战略方向,在助力健康中国建设、服务实体经济、推动产业升级、促进民生改善中勇担使命, 探索"医、产、融"深度协同的高质量发展路径。 2024年,环球医疗再次入选央视"中国ESG上市公司先锋100"榜单,位列第63位;公司的标普全球ESG得分大 幅提升至61分,位居国内细分行业第一名(全球前10%)。近日,环球医疗成功入 ...

2024 年度報 告 公司網址 : www. umcare.cn 註冊辦事處 : 香港中環紅棉路8號東昌大廈702室 總部及中國主要營業地 : 中國北京市豐台區西三環中路輔路90號20-28層 IR郵箱 : ir@um.gt.cn 公司微信公眾號 2024 年度報告 目錄 | 2 | 公司資料 | 138 | 獨立核數師報告 | | --- | --- | --- | --- | | 4 | 定義 | 143 | 合併損益表 | | 6 | 公司簡介 | 144 | 合併綜合收益表 | | 7 | 董事會主席致辭 | 145 | 合併財務狀況表 | | 11 | 業績概覽 | 148 | 合併權益變動表 | | 13 | 管理層討論與分析 | 154 | 合併現金流量表 | | 71 | 企業管治報告 | 157 | 財務報表附註 | | 94 | 董事與高級管理人員簡歷 | | | 104 董事會報告 公司資料 董事會 主席及副主席 陳仕俗先生(1) （主席） 陳啟剛先生 （副主席） 彭佳虹女士(2) 執行董事 陳仕俗先生(1) 王文兵先生 （首席執行官） 王琳女士 彭佳虹女士(2) 非執行董事 陳啟剛先生 ...

2024年度业绩发布会那此次会议呢在金门财经也是线上同步直播下面由我来介绍出席本次业绩说明会的领导分别是环球医疗首席执行官执行董事王文斌先生大家好我是王文斌在这里呢也和大家报告一下 我们董事会的主席陈世俗先生因为有中央党校的学习任务只能缺席本次业绩发布会也受世俗董事长的委托在这里向大家表示歉意好 谢谢文彬总下面介绍执行董事汪玲女士大家好 在这里也和大家特别介绍那王林女士不光在我们环球医疗总部担任管理层也兼任我们下属一家重要三甲医院杨梅总医院的负责人下面介绍首席财务官王诗楠女士大家好下面我们的业绩说明会正式开始首先有请首席财务官王诗楠女士与各位分享环球医疗2024年度业绩表现有请诗楠总 好的谢谢各位下午好首先还是感谢大家来参加我们今天的业绩发布会下面由我来为大家介绍环球医疗2024年的业绩情况2024年我们还是持续深耕医疗健康领域全面深化改革管理正式形成了金融加综合医疗加专科医疗加健康科技的业务版图努力培育取得新突破高质量发展取得了新成效 在业绩方面我们整体经营稳重向好业务结构也在持续的优化2024年全年实现营业收入136.63亿同比增长0.1%实现净利润22.58亿同比增长2.7% 归属于普通股权益持有人净利 ...

Group 1 - The acquisition agreement between General Technology Global Medical and Beijing Jinxu Medical was signed on March 28, marking a significant step in the healthcare sector [1] - General Technology Global Medical focuses on the full-cycle management of medical equipment, which is a key area of development and an important part of its industrial layout and second growth curve [2] - The company has successfully completed strategic acquisitions of three leading industry firms, establishing a comprehensive service matrix covering procurement consulting, financing leasing, maintenance services, and operational management [2] Group 2 - The acquisition of Jinxu Medical, a national high-tech enterprise specializing in medical endoscopes and related equipment, will allow General Technology Global Medical to hold a 67% stake, becoming the controlling shareholder [2] - This acquisition aims to fill critical product line gaps and address challenges related to the management and maintenance costs of medical endoscopes, enhancing the company's core competitiveness [2] - General Technology Global Medical plans to continue advancing high-quality, cost-effective full-cycle management services for medical equipment, aiming to become a leader in standardization and normalization within the industry [3]

Core Viewpoint - The company focuses on a long-term investment strategy centered around mergers and acquisitions of leading firms in the healthcare and financial sectors, aiming to enhance valuation and create a second growth curve [1][2][3] Financial Performance - In the fiscal year 2024, the company reported a revenue of approximately 13.663 billion yuan, a slight increase of 0.1% year-on-year [1] - The healthcare segment generated about 8.488 billion yuan, growing by 8.4% and accounting for 62.1% of total revenue, while the financial segment contributed 5.227 billion yuan, representing 38.3% of total revenue [1] - The net profit for the year was 2.258 billion yuan, up 2.7% from 2023, with the healthcare segment contributing 522 million yuan, a 15.0% increase [1] Business Segments - The company operates 73 medical institutions, including 65 consolidated medical institutions, with a total of 15,832 open beds [2] - The total number of patient visits across these institutions reached approximately 10.414 million, reflecting a year-on-year growth of 4.5% [2] - The revenue from medical services amounted to 7.9 billion yuan, with an average revenue per bed of about 500,000 yuan [2] Investment Strategy - The company emphasizes a strategy of acquiring leading firms and replicating successful models, particularly in the healthcare sector [3] - Recent acquisitions include the Shandong University of Traditional Chinese Medicine Affiliated Eye Hospital, which will serve as a flagship for integrating eye care resources [3] - The company also acquired Qingniao Ruantong, a leading smart health and elderly care enterprise, to enhance its operational platform [3] Financial Services - The financial services segment, primarily focused on providing comprehensive financial solutions to public hospitals, generated interest income of 4.745 billion yuan, a decrease of 1.0% year-on-year [5] - Despite the decline in revenue, the financial services still contributed nearly 80% of the company's profits, with a total revenue of 5.272 billion yuan, down 11.1% [5] - The company is actively transforming its financial services to focus on healthcare and elderly care sectors, leveraging its strengths in equipment procurement and operational management [5]

Core Insights - The company reported a stable overall performance for the fiscal year ending December 31, 2024, with a slight increase in revenue and profit [1][2] - The business structure continues to optimize, focusing on a combination of finance, comprehensive medical services, specialized medical care, and health technology [1] Financial Performance - Total revenue reached RMB 13.663 billion, a year-on-year increase of 0.1%, with the healthcare segment generating RMB 8.488 billion, up 8.4% [1] - Net profit amounted to RMB 2.258 billion, reflecting a 2.7% increase, with the healthcare segment contributing RMB 522 million, a growth of 15.0% [1] - The return on assets (ROA) was 2.71%, and the return on equity (ROE) stood at 12.37%, indicating stable financial health [1] Financial Services - Financial services revenue totaled RMB 5.227 billion, a decline of 11.1%, while net profit from this segment was RMB 1.748 billion, a slight increase of 0.2% [2] - The company maintained strong asset quality, with net interest-earning assets reaching RMB 71.277 billion, a growth of 5.8% from the beginning of the year [2] - The non-performing asset ratio was 0.99%, and the 30-day overdue rate was 0.97%, with a provision coverage ratio of 301.86%, enhancing risk resilience [2] Strategic Initiatives - The company aims to innovate and transform its financial services while supporting the real economy and its core business [2] - Future plans include transitioning towards four key areas: healthcare, equipment manufacturing, chemical pharmaceuticals, and innovative businesses [2] - The company is developing a new model for medical equipment that combines financing leasing with full lifecycle management, and is also focusing on the development of elderly care finance and digital finance [2]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of approximately RMB 13,663.5 million, a slight increase of 0.1% compared to RMB 13,650.2 million in 2023[3]. - The net profit for the year was approximately RMB 2,258.3 million, reflecting a growth of 2.7% from RMB 2,199.1 million in 2023[3]. - The healthcare business revenue reached approximately RMB 8,488.3 million, marking an 8.4% increase and accounting for 62.1% of total revenue[3]. - The total comprehensive income for the year was RMB 2,354.3 million, down from RMB 2,587.7 million in 2023[5]. - Basic earnings per share remained stable at RMB 1.07, while diluted earnings per share increased to RMB 1.02 from RMB 0.99 in 2023[4]. - The company's operating profit before tax for 2024 is RMB 2,907,119 thousand, an increase from RMB 2,866,213 thousand in 2023, reflecting a growth of approximately 1.1%[12]. - The company's pre-tax profit for 2024 was RMB 2,907,119,000, slightly up from RMB 2,866,213,000 in 2023, reflecting an increase of about 1.4%[67]. - The total revenue for the fiscal year ending December 31, 2024, was RMB 13,663,485 thousand, a slight increase from RMB 13,650,203 thousand in 2023, representing a growth of 0.1%[47]. Assets and Liabilities - The company's total assets as of December 31, 2024, were approximately RMB 86,032.3 million, up 7.1% from RMB 80,344.7 million in 2023[3]. - Non-current assets totaled approximately RMB 52,957.1 million, an increase from RMB 49,649.6 million in 2023[6]. - Current assets amounted to approximately RMB 33,075.2 million, compared to RMB 30,695.2 million in 2023[6]. - The company's total liabilities increased from RMB 29,903,345 thousand in 2023 to RMB 34,544,954 thousand in 2024, reflecting a rise of about 15.5%[7]. - The company's total equity increased from RMB 20,367,958 thousand in 2023 to RMB 22,869,745 thousand in 2024, a growth of around 12.3%[7]. - The company's total liabilities were reported at RMB 63,162,550 thousand, with financial liabilities at RMB 62,406,975 thousand and health liabilities at RMB 5,582,478 thousand[45]. - The total amount of bank and other financing secured by loans and receivables was RMB 9,227,529 thousand as of December 31, 2024, up from RMB 8,429,333 thousand in 2023[122]. Cash Flow - The cash flow from operating activities for 2024 is RMB 5,660,742 thousand, compared to RMB 6,041,080 thousand in 2023, indicating a decrease of about 6.3%[12]. - The company reported a net cash flow from operating activities of RMB 1,138,308 thousand for 2024, down from RMB 4,993,965 thousand in 2023, representing a significant decline of approximately 77.2%[13]. - Cash flow from financing activities showed a net outflow of RMB 520,670,000 in 2024, significantly improved from a net outflow of RMB 3,793,636,000 in 2023[14]. - The company's cash and cash equivalents decreased by RMB 467,325,000 in 2024, compared to an increase of RMB 141,332,000 in 2023[14]. - The cash and bank balances at the end of 2024 were RMB 3,168,050 thousand, down from RMB 3,395,033 thousand in 2023, a decrease of about 6.7%[107]. Revenue Segmentation - Medical service revenue accounted for RMB 7,295,603 thousand, contributing to the overall health business revenue of RMB 8,428,156 thousand[50]. - External customer revenue in the healthcare segment reached RMB 8,428,156 for 2024, compared to RMB 7,789,009 in 2023, reflecting a significant increase of 8.2%[51]. - The health technology business achieved a reportable revenue of RMB 697.0 million in 2024, representing a year-on-year growth of 189.9%[182]. - The financial business revenue decreased to RMB 5,227,167 thousand from RMB 5,882,032 thousand, indicating a decline of about 11.1%[162]. Expenses and Costs - The total cost of medical services was RMB 4,041,078 in 2024, slightly decreasing from RMB 4,077,373 in 2023, a reduction of 0.9%[60]. - The company reported a total of RMB 3,925,231 in employee benefits expenses for 2024, compared to RMB 3,348,351 in 2023, an increase of 17.2%[60]. - The total amount of other non-current assets increased to RMB 100,000 thousand in 2024 from RMB 25,941 thousand in 2023, reflecting a significant growth of approximately 285%[105]. Investments and Acquisitions - The company acquired 60% of Shandong Tuozhuang Medical Technology Co., Ltd. for RMB 82,500,000 on March 1, 2024[145]. - On May 1, 2024, the company purchased 70% of Beijing Zhongtaihe Medical Equipment Co., Ltd. for RMB 49,000,000[145]. - The total cash outflow for the acquisition, including cash paid, was RMB 332,496 thousand, resulting in a net cash outflow of RMB 239,147 thousand[148]. Strategic Initiatives - The group is focused on integrating into the national healthcare service system and improving service quality to meet the growing healthcare demands of the public[171]. - The company aims to enhance its integrated development system for ophthalmology, leveraging the capabilities of the newly acquired flagship hospital[177]. - The company plans to accelerate its transformation towards four key areas: healthcare, equipment manufacturing, chemical pharmaceuticals, and innovative businesses[191]. Regulatory and Compliance - The classification of liabilities as current or non-current has been clarified, with no impact on the group's financial position or performance following the application of the revisions[22]. - The group is evaluating the impact of the amendments to the Hong Kong Financial Reporting Standards, expecting no significant effect on consolidated financial data[22]. - The amendments to Hong Kong Financial Reporting Standard 9 clarify the derecognition date of financial assets or liabilities, with no expected significant impact on the group's financial statements[28].

Investment Rating - The report assigns an "Accumulate" rating to the company [1] Core Views - The company, a state-owned enterprise, has transitioned from a financing leasing business to a comprehensive medical service group, focusing on the integration of finance and healthcare [4][7] - The medical health segment has shown growth, with a revenue of 3.888 billion yuan in the first half of 2024, representing a year-on-year increase of 3.6% [5] - The financing leasing business has experienced a revenue decline of 10.7% year-on-year, but net profit increased by 2.0%, indicating effective cost control [6] Summary by Sections Company Overview - The company operates 72 medical institutions, including 5 tertiary hospitals and 32 secondary hospitals, as of June 30, 2024 [13] - The company aims to become a leader in the healthcare sector by leveraging its financial services as a foundation for its medical services [13][21] Medical Services Segment - The medical services segment has seen a significant increase in operational efficiency, with bed occupancy rates and single-bed revenue steadily improving [5][39] - The company has expanded its specialty medical services, particularly in oncology, nephrology, and ophthalmology, through acquisitions and partnerships [48] Financing Leasing Segment - The financing leasing business remains a cornerstone of the company's operations, with a non-performing asset ratio of 0.99% as of the first half of 2024, indicating strong asset quality [6][18] - The company has actively adjusted its financing leasing strategy in response to macroeconomic conditions and regulatory changes [18][63] Financial Projections and Investment Recommendations - The company is projected to achieve revenues of 13.670 billion yuan, 14.493 billion yuan, and 15.183 billion yuan for the years 2024, 2025, and 2026, respectively, with year-on-year growth rates of 0%, 6%, and 5% [7][66] - The expected net profit for the same period is projected to be 2.106 billion yuan, 2.254 billion yuan, and 2.398 billion yuan, with growth rates of 4%, 7%, and 6% [7][66]

Investment Rating - The report assigns an "Accumulate" rating to the company [1]. Core Viewpoints - The company, a state-owned enterprise, has successfully transitioned from a financing leasing business to a comprehensive medical service group, focusing on the integration of finance and healthcare [4][7]. - The medical health segment has shown growth, with a revenue of 3.888 billion yuan in the first half of 2024, representing a year-on-year increase of 3.6% [5]. - The financing leasing business remains a cornerstone, with a revenue of 2.667 billion yuan in the first half of 2024, although it experienced a decline of 10.7% year-on-year [6]. Summary by Sections Company Overview - The company operates 72 medical institutions, including 5 tertiary hospitals and 32 secondary hospitals, as of June 30, 2024 [13]. - The company aims to become a leader in the healthcare sector by leveraging its financing leasing roots and expanding into comprehensive medical services [13][21]. Medical Services Segment - The medical services segment has seen a significant increase in operational efficiency, with bed occupancy rates and single-bed revenue improving steadily [5][39]. - The company has expanded its specialty medical services, particularly in oncology, nephrology, and ophthalmology, enhancing its competitive edge [48]. Financing Leasing Segment - The financing leasing business has maintained a low non-performing asset rate of 0.99% and has shown resilience despite a challenging macroeconomic environment [6][18]. - The company has a diversified financing structure, with a significant portion of its debt coming from bank loans and bond issuances, allowing for competitive interest costs [59]. Financial Projections - The company is projected to achieve revenues of 13.670 billion yuan, 14.493 billion yuan, and 15.183 billion yuan for the years 2024, 2025, and 2026, respectively, with year-on-year growth rates of 0%, 6%, and 5% [7][66]. - The net profit attributable to shareholders is expected to be 2.106 billion yuan, 2.254 billion yuan, and 2.398 billion yuan for the same years, reflecting growth rates of 4%, 7%, and 6% [7][66].

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [2][10]. Core Viewpoints - The company reported a slight revenue decline of approximately 1.2% year-on-year for the first three quarters of 2024, while the net profit attributable to the parent company increased by about 5.1% year-on-year. The healthcare business is showing steady development [2][3]. - The forecast for net profit attributable to the parent company for 2024-2026 is projected to be 2.108 billion, 2.281 billion, and 2.481 billion respectively, with year-on-year growth rates of 4.3%, 8.2%, and 8.8%. The current stock price corresponds to a PE ratio of 4.1, 3.8, and 3.5 times for the respective years [2][10]. - The company has significant potential for value reconstruction in its healthcare business, and its valuation is considered cost-effective, justifying the "Outperform the Market" rating [2][10]. Revenue and Profitability - For the first half of 2024, the company achieved a revenue of 6.543 billion (a decrease of 2.9%), with healthcare business revenue of 3.888 billion, representing a year-on-year increase of 3.6%, accounting for 59.4% of total revenue. The net profit for the first half was 1.252 billion, up 4.8%, with the healthcare business contributing 271 million, a growth of 16.3% [3][4]. - The overall operational status of the healthcare institutions is good, with outpatient and emergency visits increasing by approximately 4.9% and total discharges rising by about 6.7%. The average length of hospital stay has decreased to 9.8 days, and bed occupancy rates remain high at around 90% [7]. Financial Performance - The financial business generated a total income of 2.667 billion in the first half of 2024, a year-on-year decline of 10.7%. The average yield on interest-earning assets was 6.70%, with an average cost of interest-bearing liabilities at 3.84%, resulting in a net interest margin of 3.42% [4][6]. - The gross profit margin for the first half of 2024 was 34.6%, reflecting a 0.5 percentage point increase, attributed to a stable proportion of comprehensive medical income and an increase in the proportion of higher-margin equipment management business [7][9]. Valuation Metrics - The company’s valuation metrics indicate a PE ratio of 4.1 for 2024, 3.8 for 2025, and 3.5 for 2026, suggesting a favorable valuation compared to peers [10]. - The company has completed acquisitions of Shandong University of Traditional Chinese Medicine Affiliated Eye Hospital and Shandong Qingniao Ruantong, enhancing its operational capabilities [7].