Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 1,231.2 million, a decrease of 4.1% compared to RMB 1,284.3 million for the same period in 2023[1] - Gross profit for the same period was RMB 396.3 million, down from RMB 484.0 million in 2023[1] - Profit attributable to owners of the company was RMB 85.0 million, compared to RMB 123.4 million in the prior year[1] - Operating profit for the six months was RMB 185.7 million, down from RMB 228.5 million in the same period last year[6] - Total comprehensive income for the period was RMB 87.7 million, down from RMB 129.9 million in the previous year[7] - The group reported a net profit of RMB 87,121,000 for the period, after tax expenses of RMB 38,027,000[19] - The company reported a net profit of RMB 126,219,000 for the same period, after tax expenses of RMB 53,718,000[21] - Net profit for the period was RMB 87.1 million, down from RMB 126.2 million in the same period of 2023[60] Dividends - The board declared an interim dividend of HKD 0.045 per share for the reporting period[1] - The company declared an interim dividend of HKD 0.045 per share, totaling HKD 71.6 million, to be paid on or around September 23, 2024[78] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 4,542.8 million, a decrease from RMB 4,637.8 million as of December 31, 2023[3] - Total liabilities decreased to RMB 3,356.2 million from RMB 3,523.7 million at the end of 2023[5] - As of June 30, 2024, total assets of the group amounted to RMB 4,542,815,000, while total liabilities were RMB 3,356,183,000[20] - The company’s current liabilities exceeded current assets by RMB 708,191,000 as of June 30, 2024[10] - The total trade payables as of June 30, 2024, were RMB 162,086 thousand, a slight decrease from RMB 164,351 thousand as of December 31, 2023[34] Cash Flow and Financing - The company reported a net cash position of RMB 587.1 million as of June 30, 2024, compared to RMB 811.2 million at the end of 2023[3] - The group’s operating cash flow is primarily supported by cash generated from operations, bank borrowings, and unused bank financing[10] - The company’s bank borrowings stood at RMB 813,500,000 as of June 30, 2024, compared to RMB 850,000,000 as of December 31, 2023[30] - The total bank and other borrowings as of June 30, 2024, were RMB 813.5 million, down from RMB 866.6 million as of December 31, 2023[67] - The group reported financing costs of RMB 60,966 thousand for the six months ended June 30, 2024, compared to RMB 49,039 thousand in 2023, reflecting an increase of 24%[39] Operational Highlights - The comprehensive hospital segment generated revenue of RMB 323,966,000 and a segment profit of RMB 72,356,000[19] - The health check center segment reported revenue of RMB 922,936,000 and a segment profit of RMB 215,616,000[19] - The revenue from the comprehensive hospital business was RMB 308.3 million, an increase of 2.1% from RMB 301.8 million in the same period of 2023[49] - The revenue from the health check business was RMB 922.9 million, a decrease of 6.1% from RMB 982.5 million in the same period of 2023[50] - The group added property, plant, and equipment, right-of-use assets, and intangible assets totaling RMB 321,778,000 during the period[20] Employee and Administrative Expenses - Employee benefit expenses for the first half of 2024 were RMB 501,699 thousand, an increase of 1.3% from RMB 496,103 thousand in the same period last year[38] - The group incurred administrative expenses of RMB 111,793,000 for the six months ended June 30, 2024[19] Market and Industry Insights - In 2023, the total number of medical visits in China reached 6.41 billion, a year-on-year increase of 9.4%[45] - The hospital industry saw 3.86 billion visits, with public hospitals accounting for 3.23 billion visits (up 6.7%) and private hospitals 640 million visits (up 9.3%) from the previous year[45] - The health check-up industry in China grew from 151.1 billion yuan in 2018 to 217 billion yuan in 2022, with a compound annual growth rate of approximately 9.46%[45] Corporate Governance - The company has not separated the roles of Chairman and CEO, with Dr. Fang Yixin holding both positions to facilitate the implementation of new business strategies[80] - The board consists of four executive directors and three independent non-executive directors, ensuring a strong element of independence[80] - The company has adopted the standard code of conduct for securities trading, confirming compliance by all directors during the reporting period[81] Auditor and Reporting - The external auditor, Hong Kong Lixin Dehao CPA Limited, conducted an independent review of the group's interim financial information during the reporting period[83] - The interim report will be published on the Hong Kong Stock Exchange and the company's website, containing all required information[83]
瑞慈医疗(01526) - 2024 - 中期业绩