致：香港交易及結算所有限公司 公司名稱: 弘和仁愛醫療集團有限公司（於開曼群島註冊成立的有限公司) 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03869 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.001 HKD | | 500,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 500,000,000 | HKD | | 0.001 HKD | | 500,000 | FF301 本月底法定/註冊 ...

Core Viewpoint - 弘和仁爱医疗 (03869.HK) reported a revenue of RMB 743 million for the six months ending June 30, 2025, reflecting a year-on-year increase of 3.3% [1] Financial Performance - Revenue increased primarily due to a rise in comprehensive hospital service income from individual patients [1] - Gross profit amounted to RMB 147 million, showing a year-on-year decrease of 3.7% [1] - Net profit reached RMB 169 million, compared to RMB 23.568 million in the same period last year [1] - Basic earnings per share were RMB 1.13 [1]

Financial Performance - Revenue for the six months ended June 30, 2025, was RMB 743,044,000, an increase of 3.5% compared to RMB 719,503,000 for the same period in 2024[5] - Adjusted gross profit for the period was RMB 154,981,000, resulting in an adjusted gross margin of 20.9%, down from 22.5% in the previous year[5] - Adjusted net profit for the six months was RMB 70,584,000, with an adjusted net profit margin of 9.5%, compared to 12.1% in the prior year[5] - Basic earnings per share for the period was RMB 1.13, a significant recovery from a loss of RMB 0.15 per share in the same period last year[7] - Total comprehensive income for the period amounted to RMB 184,745,000, compared to RMB 13,591,000 in the same period last year[12] - The net profit for the six months ended June 30, 2024, was RMB 25,497 thousand, which was adjusted to RMB 23,568 thousand after accounting for changes[22] - The basic and diluted earnings per share for the six months ended June 30, 2024, were both reported at RMB (0.14), adjusted from RMB (0.15)[22] - The total comprehensive income for the period was RMB 21,270 thousand, which was adjusted to RMB 13,591 thousand after accounting for changes[22] - The segment profit before interest, tax, depreciation, and amortization (EBITDA) for the six months ended June 30, 2025, was RMB 135,018 thousand, compared to RMB 150,712 thousand in 2024, indicating a decrease of about 10.5%[28] - The net profit attributable to the company's owners for the six months ended June 30, 2025, was RMB 153,717 thousand, a significant recovery from a loss of RMB 20,647 thousand in the same period of 2024[36] Assets and Liabilities - Non-current assets as of June 30, 2025, totaled RMB 1,526,878,000, an increase from RMB 1,484,046,000 at the end of 2024[13] - Current liabilities decreased to RMB 668,445,000 from RMB 1,809,925,000 at the end of 2024, indicating improved liquidity[13] - As of June 30, 2025, the total non-current liabilities amounted to RMB 1,150,866 thousand, a significant increase from RMB 196,614 thousand in December 2024[14] - The net assets of the company reached RMB 727,292 thousand as of June 30, 2025, compared to RMB 576,623 thousand in December 2024, indicating a growth of approximately 26.1%[14] - The company's total equity increased to RMB 727,292 thousand as of June 30, 2025, up from RMB 576,623 thousand in December 2024, reflecting a growth of about 26.1%[14] - Total assets as of June 30, 2025, amounted to RMB 2,546,603 thousand, an increase from RMB 2,493,617 thousand as of June 30, 2024[28] - Total liabilities as of June 30, 2025, were RMB 1,819,311 thousand, compared to RMB 1,879,865 thousand as of June 30, 2024, reflecting a decrease of approximately 3.2%[28] - Trade receivables as of June 30, 2025, were RMB 143,674 thousand, up from RMB 131,263 thousand as of December 31, 2024, indicating an increase of about 9.5%[39] - Trade payables as of June 30, 2025, amounted to RMB 130.6 million, down from RMB 155.1 million as of December 31, 2024[9] Operational Strategy - The company plans to continue expanding its hospital management services and pharmaceutical sales to drive future growth[3] - The company is focusing on enhancing its operational efficiency and reducing costs to improve profit margins moving forward[3] - The company aims to innovate its business model in the second half of 2025, focusing on local policy guidance and expanding services such as health weight management clinics and family doctor services[48] - The company continues to enhance its core competitiveness in hospital management amidst increasing market competition and regulatory scrutiny[45] Employee and Administrative Expenses - The total employee count increased to 1,839 as of June 30, 2025, up from 1,491 a year earlier, primarily due to business expansion[71] - Employee benefit expenses totaled approximately RMB 244.0 million for the six months ended June 30, 2025, compared to RMB 215.1 million for the same period in 2024, reflecting a year-over-year increase[71] - Administrative expenses increased by approximately 25.7% to RMB 62.4 million, compared to RMB 49.6 million in the previous year, driven by business scale expansion[50] Financial Flexibility and Investments - The company successfully extended the maturity date of convertible bonds to September 30, 2027, allowing for greater financial flexibility and reduced cash outflow[47] - The company acquired 100% equity of Cixi Honghe Property Management Co., Ltd. for RMB 49.47 million, which will be consolidated into the group's financial statements[60] - The company has a revolving loan credit facility of RMB 150.0 million with an annual interest rate of 3.69%, effective until September 30, 2027[56] - The company believes it has sufficient working capital to meet operational needs based on available financial resources[54] Governance and Compliance - The company has adopted the corporate governance code as per Appendix C1 of the listing rules and believes it has complied with applicable provisions during the period[74] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited performance and interim financial information, confirming compliance with applicable accounting standards and regulations[75] - The board is currently seeking a suitable candidate for the position of CEO to ensure compliance with the corporate governance code[74] - The chairman is also serving as the acting CEO until a new CEO is appointed, ensuring normal operations during this period[74] Foreign Exchange and Risk Management - The company faces foreign exchange risks primarily related to transactions in USD and HKD, with most transactions settled in RMB[66] Other Information - The company has not applied any new standards or interpretations that are not yet effective for the reporting period[19] - The company has not recorded any conversions of convertible bonds into ordinary shares during the reporting period[43] - The company decided not to declare any interim dividend for the six months ended June 30, 2025[70] - No significant events occurred after June 30, 2025, up to the date of this announcement[73] - There were no purchases, sales, or redemptions of the company's listed securities during the period, except as disclosed in the announcement[76] - The interim report will be published on the Hong Kong Stock Exchange and the company's website, and will be sent to shareholders at an appropriate time[77] - The announcement includes a note that certain figures have been rounded, which may result in discrepancies in totals[78]

Group 1 - ST Zhizhi (603869.SH) released its semi-annual report for 2025 on August 27, 2025 [1] - As of August 26, 2025, a total of 8 institutional investors disclosed holding ST Zhizhi A-shares, with a total holding of 324 million shares, accounting for 64.27% of ST Zhizhi's total share capital [1] - The institutional investors include New Energy Supply Chain Co., Ltd., Tianjin Yienrui Investment Center (Limited Partnership), Tianjin Xinyi Dehui Investment Management Center (Limited Partnership), New Energy Capital Management Co., Ltd., New Energy New Intelligence Technology Co., Ltd., New Energy Holdings Investment Co., Ltd., New Intelligence Cognitive Digital Technology Co., Ltd. - 2022 Employee Stock Ownership Plan, and Shenzhen Tianluo Information Consulting Co., Ltd. [1]

Core Viewpoint - 弘和仁爱医疗 (03869.HK) is scheduled to hold a board meeting on August 27, 2025, to review and approve the interim results for the six months ending June 30, 2025, and to consider the proposal for an interim dividend distribution, if any [1] Group 1 - The board meeting will take place on August 27, 2025 [1] - The meeting will focus on the interim results for the six months ending June 30, 2025 [1] - The company will also consider the proposal for an interim dividend distribution [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HOSPITAL CORPORATION 弘和仁愛醫療集團有限公司 Hospital Corporation of China Limited （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） 弘和仁愛醫療集團有限公司 董事長兼代理行政總裁 陳帥 香港，二零二五年八月十五日 於本公告日期，本公司董事包括執行董事陳帥先生、蒲成川先生及潘建麗女士；非執行 董事劉路女士及王楠女士；以及獨立非執行董事党金雪先生、史錄文先生及周向亮先生。 （股份代號：3869） 董事會會議日期 弘和仁愛醫療集團有限公司（「本公司」）董事會（「董事會」）謹此公佈，本公司將於二零 二五年八月二十七日（星期三）舉行董事會會議，藉以（其中包括）考慮及（如認為適當）批 准本公司及其附屬公司截至二零二五年六月三十日止六個月之未經審核中期業績及其發佈， 以及考慮派發中期股息（如有）。 代表董事會 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 弘和仁愛醫療集團有限公司（於開曼群島註冊成立的有限公司) 第 2 頁 共 10 頁 v 1.1.1 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03869 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.001 HKD | | 500,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 500,000,000 | HKD | | 0.001 HKD | ...

Core Viewpoint - The company has entered into a share transfer agreement to acquire 100% equity of Cixi Honghe Property Management Co., Ltd. for a total consideration of RMB 49.47 million, which will be paid in three installments [1] Group 1 - The acquisition will result in Cixi Honghe Property Management becoming a subsidiary of the company, and its financial performance will be consolidated into the group's financial statements [1] - The transaction is classified as a discloseable transaction as the applicable percentage ratio exceeds 5% but is below 25%, thus requiring compliance with the listing rules [1]

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 1,442,292,000, representing a slight increase from RMB 1,427,733,000 in 2023[8] - Gross profit margin improved to 19.1% in 2024 from 16.8% in 2023, with gross profit amounting to RMB 275,819,000[8] - Operating profit for 2024 was RMB 181,861,000, up from RMB 127,838,000 in 2023, indicating a significant increase in operational efficiency[8] - Net profit for the year was RMB 13,790,000, a decrease from RMB 168,344,000 in 2023, reflecting challenges in the market[8] - The company’s revenue from integrated hospital services decreased from RMB 1,326.3 million in 2023 to RMB 1,303.4 million in 2024[31] - The company’s revenue from pharmaceutical sales decreased from RMB 11.5 million in 2023 to RMB 9.0 million in 2024[31] - The revenue from the comprehensive hospital services segment decreased by approximately 1.7% from RMB 1,326.3 million in 2023 to about RMB 1,303.4 million in 2024[33] - Pharmaceutical sales revenue decreased by RMB 2.5 million to approximately RMB 9.0 million in 2024, down from about RMB 11.5 million in 2023[34] - The net profit for the year ended December 31, 2024, was approximately RMB 13.8 million, a decrease of about RMB 154.5 million compared to RMB 168.3 million in the previous year[39] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 2,583,162,000, an increase from RMB 2,498,100,000 in 2023[10] - Total liabilities increased to RMB 2,007,483,000 in 2024 from RMB 1,906,897,000 in 2023, indicating a rise in financial obligations[10] - Total equity as of December 31, 2024, was approximately RMB 575.7 million, down from RMB 591.2 million in 2023[47] - The company's borrowings as of December 31, 2024, were approximately RMB 82.1 million, with a debt ratio of about 3.2%[50] - The company's debt-to-asset ratio increased to approximately 78% as of December 31, 2024, from 76% in the previous year, reflecting a higher leverage position[183] Operational Efficiency and Strategy - The company emphasized enhancing medical quality and safety management to improve brand competitiveness and differentiate from public hospitals[11] - The information technology development team was established to support system upgrades and improve resource management efficiency[12] - The company is focusing on optimizing supply chain management to enhance operational efficiency and service capabilities[12] - The company is focusing on enhancing its asset quality and innovating business models as part of its three-step development strategy[14] - The company aims to leverage emerging medical technologies such as artificial intelligence and next-generation gene sequencing to improve service quality and efficiency[14] - The company is committed to improving healthcare quality and safety through systematic training and competitions for medical staff[21] - The company is focusing on risk control mechanisms and maintaining a high-quality talent reserve to seize opportunities in the "silver economy"[14] - The company is adapting to the healthcare reform environment, which is expected to lead to a decline in revenue growth rates for medical institutions[16] Cash Flow and Financial Management - Cash and cash equivalents increased by approximately RMB 191.1 million from RMB 523.0 million in 2023 to about RMB 714.1 million in 2024[40] - The net cash inflow from operating activities for the year was approximately RMB 212.1 million, including a net cash inflow of RMB 243.6 million before changes in working capital[48] - The company focuses on maintaining sufficient cash and cash equivalents to meet operational funding needs, addressing liquidity risk[182] Shareholder and Equity Information - The total share capital of the company as of the report date is HKD 138,194, divided into 138,194,000 shares with a par value of HKD 0.001 each[64] - The company does not plan any significant acquisitions or disposals of subsidiaries, associates, or joint ventures for the year ending December 31, 2024[52] - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2024[57] - The company has confirmed that the share-based compensation expenses related to resigning participants will be recognized as capital reserves[148] Compliance and Regulatory Matters - The group has complied with all relevant laws and regulations in China, Hong Kong, and the Cayman Islands as of the report date[185] - The auditor has issued an unqualified opinion regarding the company's disclosed ongoing connected transactions, confirming compliance with relevant regulations[135] - The board will discuss compliance and regulatory inquiries from government agencies at regular meetings, at least quarterly[113] Employee and Management Information - The total employee count increased to 1,841 as of December 31, 2024, up from 1,457 in the previous year, with total employee benefits expenses amounting to approximately RMB 446.7 million[58] - The company’s compensation policy is regularly reviewed based on legal frameworks, market conditions, and individual employee performance, with share awards linked to performance targets[166] - The group’s management team includes experienced professionals with extensive backgrounds in finance and investment[191][194] Environmental and Social Responsibility - The environmental compliance cost for the group was approximately RMB 766,380 for the year ending December 31, 2024, compared to RMB 655,442 in 2023[184] - The group has established an infection management committee to formulate annual work plans and supervise hospital infection prevention[184] - The group has no reported environmental claims, lawsuits, penalties, or administrative sanctions as of the report date[184]

Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 1,442,292,000, representing a slight increase from RMB 1,427,733,000 in 2023, which is a growth of approximately 1.0%[5] - The gross profit margin improved to 19.1% in 2024 from 16.8% in 2023, while the adjusted gross profit margin increased to 20.3% from 18.3%[5] - The net profit for the year was RMB 13,790,000, a significant decrease from RMB 168,344,000 in the previous year, indicating a decline of approximately 91.8%[6] - Adjusted net profit for the year was RMB 141,924,000, up from RMB 104,120,000 in 2023, reflecting an increase of about 36.5%[5] - Basic earnings per share turned negative at RMB (0.282) compared to RMB 0.956 in 2023, indicating a substantial decline in profitability[6] - The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for 2024 was RMB 258,091 thousand, compared to RMB 208,749 thousand in 2023, indicating a growth of about 23.7%[27][28] - The net loss attributable to the company's owners for 2024 was RMB 38,628 thousand, a significant decline from a profit of RMB 131,384 thousand in 2023[35] - Revenue increased by approximately 1.0% from RMB 1,427.7 million in 2023 to RMB 1,442.3 million in 2024[52] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 1,099,116,000, compared to RMB 950,309,000 in 2023, marking an increase of approximately 15.6%[8] - The total assets of the group as of December 31, 2024, were RMB 2,583,162 thousand, up from RMB 2,498,100 thousand in 2023, reflecting an increase of approximately 3.4%[27][28] - The total liabilities increased to RMB 2,007,483 thousand in 2024 from RMB 1,906,897 thousand in 2023, marking an increase of about 5.3%[27][28] - Non-current liabilities decreased to RMB 196,614,000 from RMB 244,338,000 in 2023, a reduction of approximately 19.5%[9] - The company’s total equity decreased to RMB 575,679,000 from RMB 591,203,000, reflecting a decline of about 2.6%[9] - As of December 31, 2024, the group's current liabilities exceed current assets by RMB 711,753,000, including convertible bonds maturing in 2025 amounting to RMB 1,060,315,000[14] - The adoption of the revised International Accounting Standard 1 resulted in the reclassification of convertible bonds maturing on September 30, 2025, from non-current to current liabilities, impacting the total current liabilities to RMB 1,662,559,000[19] Cash Flow and Financial Position - The company reported a cash and cash equivalents balance of RMB 714,120,000, up from RMB 523,027,000 in the previous year, representing a growth of about 36.5%[8] - The net cash inflow from operating activities was approximately RMB 212.1 million, including a net cash inflow of RMB 243.6 million before changes in working capital[69] - The company reported a net cash inflow from investment activities of approximately RMB 42.6 million, primarily from the redemption of fixed deposits and the sale of financial assets[70] - As of December 31, 2024, cash and cash equivalents amounted to approximately RMB 714.1 million, compared to RMB 523.0 million in 2023[71] - The company's interest-bearing debt ratio was approximately 3.2% as of December 31, 2024[71] Revenue Segmentation - The group operates through three reportable segments: Integrated Hospital Services, Hospital Management Services, and Pharmaceutical Sales, with revenues generated from outpatient and inpatient services, management services, and retail pharmacy sales respectively[20][21][22] - Hospital management services revenue rose by approximately 42.7% from RMB 86.9 million in 2023 to RMB 124.1 million in 2024[53] - Comprehensive hospital services revenue decreased by approximately 1.7% from RMB 1,326.3 million in 2023 to RMB 1,303.4 million in 2024[54] - Pharmaceutical sales revenue decreased from approximately RMB 11.5 million in 2023 to RMB 9.0 million in 2024, a decline of RMB 2.5 million[55] - The group reported external customer revenue of RMB 1,442,292 thousand in 2024, with the hospital services segment contributing RMB 1,303,405 thousand[27] Operational Highlights - The company is primarily engaged in operating and managing hospitals, providing management and supply chain services, and pharmaceutical sales in China[10] - The company is focusing on enhancing healthcare service quality and exploring systematic management solutions for non-public comprehensive medical institutions, leveraging digital technology[47] - The group has implemented a centralized procurement management system, organizing 22 significant procurement projects in 2024, including 13 medical device projects[49] - The company emphasizes a management philosophy of "lawful practice, safety standards, and healthy development," guiding hospitals in strategic planning and safety inspections[50] - The healthcare market is expected to face intensified competition in 2024, with policies aimed at improving medical service quality and efficiency[46] - The company is investing in digital health management capabilities, achieving recognition for its applications in AI-assisted imaging and smart case management[48] Employee and Governance - The total employee benefits expenditure, including director remuneration, was approximately RMB 446.7 million for the year ending December 31, 2024, compared to approximately RMB 430.5 million in 2023[84] - The workforce increased to 1,841 employees as of December 31, 2024, up from 1,457 employees in 2023, primarily due to business expansion[84] - The company has adopted the Corporate Governance Code and believes it has complied with applicable provisions during the review year[87] - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the fiscal year ending December 31, 2024, ensuring compliance with applicable accounting standards and regulations[89] Dividends and Investments - The company did not declare any dividends for the year ending December 31, 2024, consistent with 2023[43] - The company has not conducted any significant acquisitions or disposals of subsidiaries, associates, or joint ventures from January 1, 2024, to December 31, 2024[79] - There are no major investments or future plans for significant investments or capital assets as of December 31, 2024[80] - The company does not recommend the payment of a final dividend for the year ending December 31, 2024[83] Risks and Compliance - The company has faced foreign exchange risks primarily related to transactions in USD and HKD, with no hedging instruments currently in use[81] - The company has adopted a code of conduct for securities trading by directors and relevant employees, confirming compliance for the fiscal year ending December 31, 2024[88]