弘和仁愛醫療集團有限公司 Hospital Corporation of China Limited 弘和仁愛醫療集團有限公司 Hospital Corporation of China Limited (Incorporated in the Cayman Islands with limited liability) Stock code: 3869 2022 INTERIM REPORT INTERIM REPORT 2022 中期報告 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） 股份代號：3869 目錄 2 4 6 16 32 33 34 36 37 38 公司資料 財務摘要 管理層討論及分析 企業管治及其他資料 中期財務資料的審閱報告 綜合全面收益表 綜合資產負債表 綜合權益變動表 綜合現金流量表 未經審核中期財務資料附註 公司資料 | --- | --- | |-----------------------------------|-------------------------------------- ...

弘和仁贸 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) 股份代號：3869 2021 年 報 | --- | --- | |-------|----------------------| | | | | 目錄 | | | 2 | 公司資料 | | 4 | 財務概要 | | 5 | 行政總裁報告 | | 9 | 管理層討論及分析 | | 35 | 董事會報告 | | 67 | 董事及高級管理層履歷 | | 78 | 企業管治報告 | | 93 | 獨立核數師報告 | | 101 | 綜合全面收益表 | | 102 | 綜合資產負債表 | | 104 | 綜合權益變動表 | | 105 | 綜合現金流量表 | | 107 | 綜合財務報表附註 | 公司資料 | --- | --- | |-----------------------------------------------|---------------------------------------------------- ...

36和仁度 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) 股份代號：3869 2021 中期報告 目錄 2 公司資料 | --- | --- | |-------|--------------------------| | | | | 4 | 財務摘要 | | 6 | 管理層討論及分析 | | 18 | 企業管治及其他資料 | | 35 | 中期財務資料的審閱報告 | | 36 | 中期簡明綜合全面收益表 | | 37 | 中期簡明綜合資產負債表 | | 39 | 中期簡明綜合權益變動表 | | 40 | 中期簡明綜合現金流量表 | | 41 | 中期簡明綜合財務資料附註 | 公司資料 蒲成川先生 周向亮先生 | --- | --- | |-----------------------------------|-------------------------------------------------------| | 董事會 | 提名委員會 | | 執行董事 | 陳帥先生 ...

弘和仁贸 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) 股份代號：3869 2020 年 報 | --- | --- | |-------|----------------------| | | | | 目錄 | | | 2 | 公司資料 | | 4 | 財務概要 | | 5 | 行政總裁報告 | | 11 | 管理層討論及分析 | | 31 | 董事會報告 | | 62 | 董事及高級管理層履歷 | | | | | 73 | 企業管治報告 | | 89 | 環境、社會及管治報告 | | 104 | 獨立核數師報告 | | 112 | 綜合全面收益表 | | 113 | 綜合資產負債表 | | 115 | 綜合權益變動表 | | 116 | 綜合現金流量表 | | 118 | 綜合財務報表附註 | 公司資料 | --- | --- | |-----------------------------------|------------------------------------ ...

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 180.7 million, a decrease from RMB 208.5 million in the same period of 2019, representing a decline of approximately 13.4%[12] - Adjusted gross profit for the same period was RMB 80.7 million, with an adjusted gross profit margin of 53.3%, compared to 49.2% in 2019[12] - The company reported a net loss of RMB 567.0 million for the six months ended June 30, 2020, compared to a profit of RMB 94.9 million in the same period of 2019[12] - Adjusted net profit for the period was RMB 56.5 million, with an adjusted net profit margin of 31.3%, up from 24.8% in 2019[15] - The financial performance was significantly impacted by the COVID-19 pandemic and macroeconomic instability, leading to impairment losses on intangible assets and goodwill[15] - The adjusted net profit was calculated after excluding certain non-operating items, including share-based payment expenses and impairment losses[14] - The company's revenue for the period was RMB 180.7 million, a decrease of approximately 13.4% compared to RMB 208.5 million in the same period last year, primarily due to reduced management service fees from Yangsi Hospital and Jinhua Hospital[33] - The hospital management services segment generated revenue of RMB 101.0 million, down 6.6% from RMB 108.2 million year-on-year, mainly impacted by the COVID-19 pandemic[33] - Comprehensive hospital service revenue decreased approximately 19.1% to RMB 79.6 million from RMB 98.3 million in the previous year, attributed to a decline in outpatient and inpatient volumes at Jiande Traditional Chinese Medicine Hospital[33] - Adjusted gross profit was RMB 96.4 million, a decrease of about 6.1% from RMB 102.6 million year-on-year, mainly due to reduced management service fees[35] - Adjusted operating profit was RMB 68.3 million, down from RMB 72.7 million, reflecting a decrease of approximately RMB 4.4 million due to the impact of the pandemic[35] - Adjusted net profit increased by approximately 9.1% to RMB 56.5 million from RMB 51.8 million, primarily due to a reduction in income tax expenses and an increase in financial income[36] Operational Impact - In the first half of the year, the number of outpatient visits at the group's hospitals decreased by 20% to approximately 1,048,985 compared to 1,311,487 in the same period last year[28] - The number of inpatient visits dropped by 17% to about 37,622 from 45,499 year-on-year[28] - Surgical procedures decreased by 11% to approximately 7,681 from 8,641 in the previous year[28] - The overall operational efficiency and performance of the group's hospitals were impacted by the COVID-19 pandemic, but improvements are expected in the second half of 2020[27][28] - The group aims to strengthen the synergy between traditional and internet healthcare to achieve a diversified revenue model[22][27] - The group is committed to enhancing its management systems and operational capabilities to support the sustainable development of its hospitals[26][27] - The group plans to continue its strategic focus on the integration of healthcare, big data, AI, finance, and insurance for innovative growth[27] - The group anticipates that its business performance will gradually recover as the domestic COVID-19 situation stabilizes[28] Strategic Initiatives - The company aims to enhance its market position through strategic initiatives and potential acquisitions in the healthcare sector[17] - The group is actively exploring new business models, including internet healthcare and potential acquisitions, to enhance brand influence and operational efficiency[19][21] - The group has conducted intensive evaluations of potential projects in key regions such as Tianjin, Jiangsu, Anhui, Zhejiang, Yunnan, Guangdong, and Chongqing, focusing on those with growth potential[22] Financial Position - Total equity as of June 30, 2020, was RMB 1,249.4 million, down from RMB 1,817.8 million as of December 31, 2019[39] - Current assets increased to RMB 1,339.1 million from RMB 1,277.5 million, while current liabilities rose to RMB 925.9 million from RMB 492.9 million, resulting in a current ratio of 1.45[39] - The company's interest-bearing debt ratio was 17.2% as of June 30, 2020, calculated as the loan balance divided by total equity[41] - The company has approximately HKD 800 million in unutilized net proceeds from the issuance of convertible bonds, intended for the acquisition of hospitals or hospital management businesses[57] - The total amount of net proceeds utilized from the global offering and other financing activities is HKD 444.51 million, with HKD 21.09 million remaining[45] - The company has not made any significant acquisitions, financing activities, or sales as of June 30, 2020[67] Shareholder Information - The company has a total of 138,194,000 shares issued as of June 30, 2020[72] - Liu Lu holds a 6.58% equity interest in the company through a controlled corporation[71] - Vanguard Glory holds 123,000,000 shares, representing approximately 89.01% of the company's equity[76] - Hony Group Management Limited has a total of 161,693,985 shares, accounting for about 117.01% of the company's equity[76] - Hony Fund VIII holds convertible bonds convertible into 38,693,985 shares, which is approximately 28.00% of the company's equity[76] - Li Tao Limited, fully owned by Lenovo Holdings, holds convertible bonds convertible into 40,000,000 shares, representing about 28.94% of the company's equity[82] Cash Flow and Liquidity - Operating cash flow for the six months ended June 30, 2020, was RMB 21,334 thousand, a significant increase from a cash outflow of RMB 3,710 thousand in the same period of 2019[141] - Net cash flow from investing activities was RMB 62,873 thousand, compared to RMB 25,225 thousand in the prior year, indicating a strong improvement in investment returns[141] - The company reported a net increase in cash and cash equivalents of RMB 71,174 thousand, down from RMB 664,020 thousand in the previous year, reflecting a decrease in overall liquidity[141] - The company’s cash and cash equivalents at the end of the period stood at RMB 922,493 thousand, compared to RMB 881,397 thousand at the end of the previous year, showing a slight improvement in cash reserves[141] Governance and Compliance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange regulations and is reviewing its practices to ensure compliance[109] - The audit committee has reviewed the interim financial results, ensuring compliance with applicable accounting standards and regulations[113] Other Financial Metrics - The group recognized government grants and subsidies of RMB 2,466,000 for the six months ended June 30, 2020, compared to RMB 109,000 in the same period of 2019[195] - The fair value gains on convertible bonds amounted to RMB 5,687,000 for the six months ended June 30, 2020, a decrease from RMB 41,031,000 in the same period of 2019[196] - The group’s total liabilities as of June 30, 2020, were RMB 2,580,454,000, with significant liabilities in the hospital management services segment[190]

弘和仁贸 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) 股份代號：3869 2019年報 | --- | --- | |-------|----------------------| | | | | 目錄 | | | | | | 2 | 公司資料 | | 4 | 財務概要 | | 5 | 行政總裁報告 | | 10 | 管理層討論及分析 | | 30 | 董事會報告 | | 56 | 董事及高級管理層履歷 | | 68 | 企業管治報告 | | 80 | 環境、社會及管治報告 | | 97 | 獨立核數師報告 | | 105 | 綜合全面收益表 | | 106 | 綜合資產負債表 | | 108 | 綜合權益變動表 | | 109 | 綜合現金流量表 | | 111 | 綜合財務報表附註 | 公司資料 上市資料及股份代號 | --- | --- | |-------------------------|---------------------| | | | | 董事會 | 提名 ...

36 和仁度 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) 股份代號：3869 2019中期報告 目錄 2 公司資料 4 財務概要 6 管理層討論及分析 19 企業管治及其他資料 29 中期財務資料的審閱報告 30 中期簡明綜合全面收益表 31 中期簡明綜合資產負債表 33 中期簡明綜合權益變動表 35 中期簡明綜合現金流量表 36 中期簡明綜合財務資料附註 公司資料 | --- | --- | |-------------------------|---------------------| | | | | 董事會 | 提名委員會 | | 執行董事 | 趙令歡先生 （主席） | | | 史錄文先生 | | 單國心先生 （行政總裁） | 陳曉紅女士 | | 陸文佐先生 | 公司秘書 | | 非執行董事 | | | 趙令歡先生 （主席） | 鄺燕萍女士 | | 李蓬先生 | 授權代表 | | 劉路女士 | | | 王楠女士 | 單國心先生 | | 獨立非執行董事 | 鄺燕萍女士 | ...

Financial Performance - Total revenue for the year ended December 31, 2018, was RMB 383.61 million, a significant increase from RMB 149.16 million in 2017[12] - Gross profit margin decreased to 39.7% in 2018 from 58.9% in 2017, indicating a decline in profitability[12] - Operating profit for 2018 was RMB 33.85 million, down from RMB 37.75 million in the previous year, reflecting a decrease in operational efficiency[12] - The net loss for the year was RMB 23.42 million, compared to a profit of RMB 9.20 million in 2017, highlighting a significant downturn in financial performance[12] - The company recorded a net loss of approximately RMB 23.4 million in 2018, a decrease of RMB 32.6 million from a net profit of RMB 9.2 million in 2017[37] - Other income decreased to RMB 2.87 million from RMB 3.74 million in 2017, indicating a decline in ancillary revenue streams[12] - Financial income decreased from RMB 2.7 million in 2017 to RMB 2.6 million in 2018, attributed to lower interest income from short-term deposits[49] - Financial costs decreased from RMB 21.2 million in 2017 to RMB 18.6 million in 2018, mainly due to reduced foreign exchange losses[49] - Income tax expenses increased by RMB 13.7 million, from RMB 27.6 million in 2017 to RMB 41.3 million in 2018[50] Assets and Liabilities - The total assets as of December 31, 2018, amounted to RMB 3,805.85 million, compared to RMB 1,965.52 million in 2017, showing substantial growth in asset base[12] - Total liabilities increased to RMB 2,137.87 million in 2018 from RMB 403.39 million in 2017, indicating higher leverage[12] - The total equity as of December 31, 2018, was RMB 1,667.98 million, an increase from RMB 1,562.13 million in 2017, indicating a strengthening of the company's financial position[12] - The company reported an increase in the debt-to-asset ratio from approximately 21% as of December 31, 2017, to 56% as of December 31, 2018, primarily due to the issuance of convertible bonds[163] Operational Efficiency and Management - Administrative expenses rose to RMB 63.32 million, up from RMB 53.71 million in 2017, reflecting increased operational costs[12] - The company has implemented an integrated management system with tools like "6S management" and "performance comprehensive management" to improve operational capabilities[18] - A systematic talent framework has been established to enhance professional management and operational capabilities across the group and its hospitals[18] - The company aims to enhance hospital operational management and core competitiveness over the next three years to maintain long-term advantages in strategy, talent, management, technology, and brand[20] - The company plans to enhance operational control and improve profitability through strategic acquisitions of secondary and tertiary hospitals in economically developed regions of China[70] Market and Growth Strategy - The health industry in China is projected to become a massive market exceeding 10 trillion yuan, driven by national health strategies and increasing medical demands[14] - The company aims to create a leading medical service network by expanding in economically developed and densely populated areas, enhancing resource integration and connectivity[15] - The business strategy focuses on building 3-5 regional medical centers in densely populated and economically developed areas, creating a three-tier medical network[23] - The company aims to expand its scale through acquisitions of quality hospital projects, focusing on building specialized departments with competitive advantages[30] - The company is actively pursuing new product development and technological advancements in the medical sector[199] Acquisitions and Investments - The company completed the acquisition of Jian De and Hu Xu Enterprise Management Co., Ltd. for a total consideration of RMB 483 million in January 2018[33] - The acquisition of Oriental Ally Holdings Limited was completed for a total consideration of RMB 630 million, equivalent to approximately HKD 773.9 million[33] - The company plans to use the unutilized portion of the net proceeds for further acquisitions in the hospital management sector[103] - The company has completed two acquisitions in the past year, enhancing its service offerings and customer base[188] Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[185] - The company is investing in R&D for new technologies, with a budget allocation of $50 million for the upcoming year[186] - Market expansion efforts include entering three new regions, aiming for a 20% increase in market share by the end of the fiscal year[187] - A new product line is set to launch in Q3 2024, expected to contribute an additional $30 million in revenue[189] Corporate Governance and Leadership - The company has complied with the corporate governance code since its listing date[147] - The company reported a significant increase in overall business operations and strategic planning since the appointment of the CEO in February 2014[172] - The CEO has extensive experience in hospital management, having served as the deputy director and chief physician at a top-tier hospital for over 13 years[172] - The board includes members with significant academic qualifications and experience in both healthcare and investment management, enhancing the company's strategic capabilities[182] Compliance and Risk Management - The company has complied with all relevant laws and regulations in China, Hong Kong, and the Cayman Islands during the reporting period[166] - The company has established an infection management committee to oversee hospital infection prevention, reflecting its commitment to healthcare quality and safety[165] - The group faces foreign exchange risks primarily related to transactions in USD and HKD, with no hedging instruments currently in use[81]