Financial Performance - For the six months ended June 30, 2024, the company's revenue was approximately RMB 6,542.7 million, a decrease of 2.9% compared to approximately RMB 6,739.1 million in the same period of 2023[2]. - The profit for the period was approximately RMB 1,252.2 million, an increase of 4.8% from RMB 1,194.8 million in the same period of 2023[2]. - The profit attributable to ordinary equity holders was approximately RMB 1,137.2 million, up 3.7% from RMB 1,097.1 million in the same period of 2023[2]. - The basic earnings per share for the period was RMB 0.60, compared to RMB 0.58 in the same period of 2023[3]. - The diluted earnings per share for the period was RMB 0.57, compared to RMB 0.54 in the same period of 2023[3]. - The net profit for the six months ended June 30, 2024, was RMB 1,252,173 thousand, compared to RMB 1,194,754 thousand for the same period in 2023, reflecting a year-on-year increase of 4.8%[22]. - The group reported a pre-tax profit of RMB 1,618,674 thousand for the first half of 2024, compared to RMB 1,564,475 thousand for the same period in 2023, reflecting an increase of 3.5%[35]. - The company reported a net profit margin for consolidated hospitals improved to 5.69%, an increase of 0.53 percentage points from 5.16% in the previous year[152]. Assets and Liabilities - Total assets as of June 30, 2024, were approximately RMB 83,971.5 million, an increase of 4.5% from approximately RMB 80,000 million as of December 31, 2023[2]. - The total liabilities increased to RMB 61,680,072 thousand as of June 30, 2024, compared to RMB 59,976,786 thousand as of December 31, 2023[193]. - The debt-to-asset ratio decreased to 73.45% as of June 30, 2024, from 74.65% at the end of 2023[193]. - The leverage ratio improved to 2.26 as of June 30, 2024, down from 2.34 at the end of 2023[194]. - Financial assets measured at amortized cost increased to RMB 70,409,199 thousand as of June 30, 2024, up from RMB 67,261,890 thousand as of December 31, 2023, reflecting a growth of approximately 3.2%[43]. - Total financial liabilities measured at amortized cost rose to RMB 59,029,568 thousand as of June 30, 2024, compared to RMB 57,629,853 thousand as of December 31, 2023, indicating an increase of about 2.4%[43]. Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2024, was RMB (1,973,075) thousand, compared to RMB (3,364,482) thousand for the same period in 2023, indicating an improvement[12]. - The company reported a decrease in cash and cash equivalents of RMB (704,868) thousand for the first half of 2024, compared to a decrease of RMB (263,032) thousand in the same period of 2023[14]. - The net cash flow used in operating activities for the six months ended June 30, 2024, was RMB (1,973,075) thousand, a decrease of 40.9% compared to RMB (3,339,573) thousand for the same period in 2023[191]. - The net cash flow used in investing activities increased by 42.4% to RMB (525,092) thousand in the first half of 2024 from RMB (368,700) thousand in the same period of 2023[191]. - The net cash flow from financing activities decreased by 48.3% to RMB 1,793,299 thousand in the first half of 2024, down from RMB 3,468,353 thousand in the same period of 2023[191]. Business Segments - The company operates in two main business segments: financial services and healthcare services, focusing on direct financing leasing, medical services, and hospital management[20]. - The financial services segment generated revenue of RMB 2,655,038 thousand, while the healthcare segment contributed RMB 3,887,652 thousand for the six months ended June 30, 2024[25]. - Healthcare business revenue increased by 3.6% to RMB 3,887.7 million, accounting for 59.4% of total revenue[102]. - Financial services revenue reached RMB 2,667.3 million in the first half of 2024, a decrease of 10.7% year-on-year, while profit increased by 2.0% to RMB 981.5 million[119]. Acquisitions and Investments - The company completed the acquisition of Beijing Huankang Zhongxing Hospital Management Co., Ltd. on July 1, 2023, with a cash investment of RMB 8,125,000, acquiring a 66% stake[16]. - The company acquired 100% equity of several hospitals for RMB 116,561,000, completed on December 31, 2023, expanding its healthcare management portfolio[17]. - The company completed the acquisition of 60% of Shandong Tuozhuang Medical Technology Co., Ltd. for RMB 82,500 thousand, generating goodwill of RMB 4,095 thousand[80]. - The group completed the acquisition of Shandong Qingniao Soft Technology, a leading company in smart health and elderly care, and is advancing integration efforts[118]. Operational Metrics - The company operated 72 medical institutions, enhancing its service capabilities in the healthcare sector[102]. - The total number of medical visits in the first half of 2024 was 4,093,675, with 216,664 discharges and 425,758 health check-ups[123]. - The average length of hospital stay decreased by 0.4 days year-on-year, with outpatient and emergency visits growing by 6.4% to 4.0937 million, and inpatient discharges increasing by 7.4% to 216,700[106]. - The company has 62 consolidated medical institutions, including four tertiary hospitals and 29 secondary hospitals, with a total of 13,700 open beds[104]. Risk Management and Credit Quality - The company utilized a provision matrix for impairment analysis, indicating a proactive approach to managing credit risk and expected credit losses[57]. - The non-performing asset ratio stood at 0.99% as of June 30, 2024, with a provision coverage ratio of 286.24%[119]. - The overdue rate for interest-earning assets exceeding 30 days decreased to 0.84%, down from 0.89% at the end of 2023[168]. - The provision coverage ratio as of June 30, 2024, was 286.24%, an increase of 1.69 percentage points from the end of 2023[168].
环球医疗(02666) - 2024 - 中期业绩