Financial Performance - Revenue decreased by 23.2% from RMB 285.2 million for the six months ended June 30, 2023, to RMB 219.0 million for the six months ended June 30, 2024[1]. - Gross loss slightly decreased by 1.4% from RMB 35.0 million to RMB 34.5 million during the same period[1]. - Net loss reduced by 5.7% from RMB 214.3 million to RMB 202.0 million[1]. - Adjusted net loss (non-HKFRS measure) decreased by 24.7% from RMB 214.0 million to RMB 161.1 million[1]. - Revenue for the six months ended June 30, 2024, was RMB 218,988 thousand, a decrease of 23.3% compared to RMB 285,179 thousand for the same period in 2023[61]. - The net loss for the six months ended June 30, 2024, was RMB (202,019) thousand, compared to a net loss of RMB (214,257) thousand for the same period in 2023, indicating a 5.7% improvement[61]. - Basic and diluted loss per share for the period was RMB (0.25), an improvement from RMB (0.30) in the previous year[61]. - For the six months ended June 30, 2024, the company reported a loss attributable to owners of RMB 181.9 million, compared to a loss of RMB 194.3 million for the same period in 2023[67]. Revenue Breakdown - Hospital business revenue fell by 13.4% from RMB 159.3 million to RMB 137.8 million, primarily due to adjustments in revenue structure and focus on proton business development[13]. - Revenue from medical equipment, software, and related services dropped by 35.6% from RMB 125.9 million to RMB 81.1 million, attributed to decreased demand and anti-corruption policies in the medical industry[14]. - Sales and installation of medical equipment and software revenue decreased by 29.8% from RMB 104.3 million to RMB 73.2 million[14]. - Revenue from customer contracts was RMB 213.15 million for the six months ended June 30, 2024, a decrease of 22.6% from RMB 275.59 million in the prior year[70]. Cash Flow and Financial Position - Cash and cash equivalents decreased by 56.7% from RMB 2,573 million as of June 30, 2023, to RMB 1,115 million as of June 30, 2024, primarily due to cash used in investing activities[37]. - Net cash used in operating activities increased to RMB 178.8 million for the six months ended June 30, 2024, from RMB 130.7 million for the same period in 2023, mainly due to a decrease in overall revenue[38]. - Net cash used in investing activities increased significantly to RMB 464.3 million for the six months ended June 30, 2024, from RMB 4.4 million for the same period in 2023, primarily due to investments in a joint venture and purchases of financial assets[38]. - Net cash generated from financing activities increased to RMB 714.1 million for the six months ended June 30, 2024, from RMB 265.9 million for the same period in 2023, mainly due to proceeds from the global offering[38]. - Current liabilities increased from approximately RMB 1,204.5 million as of December 31, 2023, to approximately RMB 1,286.2 million as of June 30, 2024, primarily due to increased bank borrowings and accrued expenses[36]. - The company's net current liabilities as of June 30, 2024, were RMB 609.0 million, compared to RMB 844.7 million as of December 31, 2023, mainly due to proceeds from the global offering[43]. Operational Highlights - Guangzhou Hospital has treated over 90,000 cancer patients and performed over 2,000 surgeries since its opening, establishing itself as a leading institution in the Greater Bay Area[3]. - Guangzhou Hospital has trained nearly 160 proton therapy professionals for around 50 medical institutions and research institutes across the country[3]. - The hospital received three awards from the China Anti-Cancer Association, highlighting its leadership in cancer treatment and research[3]. - The company participated in a national key research and development program for innovative radiotherapy equipment, enhancing its role in the advancement of radiotherapy technology[5]. - The hospital's research on a new particle therapy patient planning quality check method received widespread acclaim at the 62nd International Particle Therapy Co-Operative Group meeting[5]. - The company successfully hosted the "Taihe Proton Academic Exchange Conference," focusing on proton therapy for breast cancer, further solidifying its leadership in this field[5]. Strategic Initiatives - The company aims to enhance its core medical capabilities and establish a strong brand image in the oncology treatment sector[11]. - Future strategies include focusing on cloud platforms, AI, and big data technologies to empower grassroots hospitals[11]. - The company plans to develop new AI products to meet comprehensive hospital and physician needs[11]. - Continuous improvement in ESG management will be pursued to align with high-quality development and sustainable growth[11]. Share Capital and Governance - The total issued share capital increased to 716,338,000 shares from 676,918,000 shares as of December 31, 2023, representing a growth of approximately 5.8%[77]. - The company issued 39,420,000 new shares at a price of HKD 14.28 per share on January 9, 2024, raising approximately RMB 517,886,000 (equivalent to about HKD 562,920,000) in total proceeds[78]. - The company has maintained a public float of approximately 16.73% since its listing on January 9, 2024[57]. - The company has complied with the corporate governance code since its listing date[58]. - The company is committed to adhering to the corporate governance code as outlined in the listing rules, ensuring transparency and accountability in its operations[79]. Future Plans - The company plans to fully utilize the net proceeds from the global offering by December 31, 2025, subject to business needs and market conditions[56]. - The company plans to utilize the funds raised from the new share issuance for further development and expansion of its medical technology services[78].
美中嘉和(02453) - 2024 - 中期业绩