康宁医院(02120) - 2024 - 中期财报

Revenue and Profit Performance - Total revenue for the first half of 2024 reached RMB 829.0 million, a 6.6% increase compared to the same period last year[19] - Revenue from self-operated hospitals amounted to RMB 765.6 million, a 5.1% year-on-year growth[19] - Net profit attributable to shareholders of the company was RMB 50.7 million, up 15.9% from the previous year[19] - The company's total revenue for the first half of 2024 reached RMB 829.0 million, a 6.6% increase compared to the same period in 2023[25] - Net profit attributable to shareholders increased by 15.9% year-over-year to RMB 50.7 million in the first half of 2024[25] - The company's self-operated hospitals achieved a gross profit margin of 27.5% in the first half of 2024, up from 24.9% in the same period in 2023[25] - The company's self-operated hospitals generated billable revenue of RMB 784.9 million, a 5.5% increase compared to the same period in 2023[27] - The company's self-operated hospitals achieved a gross profit of RMB 229.7 million, a 16.8% increase compared to the same period in 2023[28] - Total revenue for the first half of 2024 reached RMB 828.96 million, a 6.56% increase compared to RMB 777.93 million in the same period last year[116] - Net profit for the first half of 2024 was RMB 44.99 million, a decrease of 7.66% from RMB 48.73 million in the same period last year[118] - Operating profit for the first half of 2024 was RMB 63.83 million, a 12.97% increase compared to RMB 56.50 million in the same period last year[118] - Net profit for the period was RMB 29,384,349.62, compared to a net loss of RMB -8,676,844.29 in the previous period[120] - Comprehensive income attributable to the parent company was RMB 50,723,744.20, compared to RMB 43,750,057.46 in the previous period[119] Hospital Operations and Performance - The number of self-operated hospitals remained at 32, with the number of operational beds increasing to 11,648 from 11,268 at the end of 2023[19] - Some hospitals, such as Huainan Kangning Hospital and Changchun Kanglin Psychological Hospital, showed significant performance growth due to refined management measures[22] - Hospitals like Beijing Yining Hospital and Shenzhen Yining Hospital faced challenges due to high property costs, leading to cumulative losses[22] - Revenue from self-operated hospitals accounted for RMB 765.6 million, representing 31.1% of the company's total self-operated hospital revenue, with the elderly medical sector showing initial scale[24] - The company operates 6 elderly hospitals and has 1 health care project under construction, with a total of approximately 2,730 beds[24] - The elderly medical sector generated revenue of RMB 238.1 million in the first half of 2024, with some hospitals showing significant growth compared to the same period in 2023[24] - Hospital bill income increased by 6.2% to RMB 677.2 million, driven by a 15.2% growth in hospital bed days due to new acquisitions and expansions[32] - Outpatient bill income slightly increased by 1.2% to RMB 107.7 million, with outpatient visits decreasing by 3.0% but average outpatient spending per visit rising by 4.2%[32] - Treatment and general medical service income grew by 5.2%, accounting for 78.7% of the hospital's operating income, while drug sales income increased by 6.5%, making up 21.3%[32] - Outpatient visits totaled 243,108 in the first half of 2024, with outpatient revenue reaching RMB 107.7 million[29] Financial Position and Cash Flow - Operating cash flow for the first half of 2024 was RMB 116.5 million, compared to RMB 113.6 million in the same period last year[17] - Total assets as of June 30, 2024, were RMB 3,008.4 million, slightly down from RMB 3,047.7 million at the end of 2023[18] - Total liabilities decreased to RMB 1,581.9 million from RMB 1,639.5 million at the end of 2023[18] - Equity attributable to shareholders of the company increased to RMB 1,290.9 million from RMB 1,265.1 million at the end of 2023[18] - The company's own hospital revenue costs increased by 1.4% to RMB 555.2 million, with employee benefits and expenses rising by 9.3% and drug and consumable costs decreasing by 6.1%[33] - Gross profit for the company's own hospital business increased by 16.1% to RMB 210.4 million, with the gross margin rising to 27.5%, up 2.6 percentage points from the previous year[37] - Other medical-related business income reached RMB 63.0 million, with non-hospital drug and medical device sales contributing RMB 41.7 million[34] - Property rental income decreased significantly to RMB 0.3 million due to new lease conditions and the return of subleased properties[35] - Management expenses increased by 4.3% to RMB 106.3 million, primarily due to a 15.1% rise in employee benefits and expenses[41] - The company's comprehensive gross margin improved to 27.3%, up from 25.9% in the previous year[37] - Sales expenses increased to RMB 9.2 million, accounting for 1.2% of the company's own hospital operating income[39] - R&D expenses increased by 17.6% to RMB 17.6 million, accounting for 2.3% of the company's self-operated hospital revenue[43] - Net financial expenses rose to RMB 24.5 million, with interest expenses on borrowings increasing by RMB 4.0 million compared to the same period in 2023[45] - Investment income reached RMB 1.7 million, primarily due to a RMB 1.4 million gain from the disposal of equity in Hangzhou Yining Hospital[46] - Credit impairment losses increased to RMB 5.6 million, up from RMB 3.0 million in the same period last year[47] - Non-operating income decreased by RMB 5.4 million to RMB 0.5 million, mainly due to a RMB 5.5 million reduction in donations received[49] - Income tax expenses grew by 43.9% to RMB 16.5 million, with the effective tax rate rising to 26.9% from 19.1%[50] - Accounts receivable increased by 6.6% to RMB 448.1 million, with a turnover period of 95 days[54] - Construction in progress rose to RMB 234.0 million, primarily due to new projects at Lucheng Yining Hospital and Linhai Cining Hospital[56] - Net cash generated from operating activities amounted to RMB 116.5 million, including a net profit of RMB 45.0 million and adjustments for depreciation and amortization of RMB 79.4 million[62] - Net cash used in investing activities amounted to RMB 112.7 million, primarily due to the purchase of property, plant, and equipment totaling RMB 111.0 million, including infrastructure investments in hospitals such as Lucheng Yining Hospital and Quzhou Yining Hospital[63] - Net cash outflow from financing activities was RMB 41.7 million during the reporting period[66] - Bank loan balance as of June 30, 2024, was RMB 923.3 million, an increase from RMB 864.7 million as of December 31, 2023, driven by repayments of RMB 304.8 million and new borrowings of RMB 363.4 million[66] - The company's asset-liability ratio slightly decreased to 52.6% as of June 30, 2024, compared to 53.8% as of December 31, 2023[72] - The company had 4,742 employees as of June 30, 2024, with total employee compensation (including salaries and benefits) of approximately RMB 313.8 million, up from RMB 291.5 million in the same period last year[73] - The average employee salary (including social insurance and housing fund contributions) was RMB 132.4 thousand per year[73] - The company's lease liabilities, excluding amounts due within one year, stood at RMB 158.9 million as of June 30, 2024[69] - The company did not engage in any significant investments, acquisitions, or disposals during the six months ended June 30, 2024[66] - Total assets as of June 30, 2024, amounted to RMB 3,008,351,772.44, a slight decrease from RMB 3,047,686,606.84 at the end of the previous year[109] - Current assets totaled RMB 957,021,290.30, with cash and cash equivalents at RMB 373,302,433.47, down from RMB 418,861,721.39 at the end of the previous year[108] - Non-current assets amounted to RMB 2,051,330,482.14, including fixed assets of RMB 782,127,103.00 and intangible assets of RMB 307,875,476.38[109] - Long-term equity investments increased to RMB 141,550,815.01 from RMB 139,071,987.05 at the end of the previous year[109] - Accounts receivable increased to RMB 448,102,421.02 from RMB 420,441,069.56 at the end of the previous year[108] - Inventory decreased to RMB 51,889,640.76 from RMB 60,600,180.25 at the end of the previous year[108] - Construction in progress increased significantly to RMB 234,034,296.61 from RMB 186,980,240.67 at the end of the previous year[109] - Total liabilities decreased to RMB 1,581,889,916.28 from RMB 1,639,480,660.02 compared to the end of the previous year[111] - Total owner's equity increased to RMB 1,426,461,856.16 from RMB 1,408,205,946.82[111] - Short-term borrowings decreased to RMB 111,000,000.00 from RMB 127,001,700.00[110] - Accounts payable increased to RMB 112,544,938.03 from RMB 110,060,007.67[110] - Long-term borrowings increased to RMB 768,224,669.65 from RMB 557,719,214.69[110] - Total current assets increased to RMB 856,201,535.51 from RMB 847,091,576.19[112] - Long-term equity investments increased to RMB 793,380,629.16 from RMB 785,983,439.17[113] - Fixed assets decreased to RMB 283,949,624.57 from RMB 288,701,322.35[113] - Intangible assets decreased to RMB 23,105,075.42 from RMB 23,680,002.23[113] - Total assets increased to RMB 2,068,476,006.37 from RMB 2,050,057,345.62[113] - Total liabilities as of June 30, 2024, amounted to RMB 804.83 million, a slight increase from RMB 794.29 million at the end of the previous year[114] - Short-term borrowings decreased by 11.20% to RMB 111.00 million as of June 30, 2024, compared to RMB 125.00 million at the end of the previous year[114] - Long-term borrowings increased by 39.85% to RMB 506.30 million as of June 30, 2024, compared to RMB 362.04 million at the end of the previous year[114] - Total equity as of June 30, 2024, was RMB 1.26 billion, a slight increase from RMB 1.26 billion at the end of the previous year[115] - R&D expenses for the first half of 2024 were RMB 17.59 million, a 17.58% increase compared to RMB 14.96 million in the same period last year[116] - Financial expenses for the first half of 2024 were RMB 24.47 million, a 21.36% increase compared to RMB 20.16 million in the same period last year[116] - The company's total assets as of June 30, 2024, were RMB 2.07 billion, a slight increase from RMB 2.05 billion at the end of the previous year[115] - Operating revenue for the period was RMB 193,286,941.03, an increase from RMB 176,204,799.00 in the previous period[120] - Basic earnings per share (EPS) for the period was RMB 0.68, up from RMB 0.59 in the previous period[119] - Cash flow from operating activities was RMB 116,535,983.61, slightly higher than RMB 113,591,338.70 in the previous period[122] - Sales of goods and services generated RMB 774,736,897.94 in cash, down from RMB 780,086,767.35 in the previous period[122] - R&D expenses increased to RMB 12,778,787.81 from RMB 9,690,626.11 in the previous period[120] - Investment income for the period was RMB 14,189,338.60, compared to a loss of RMB -775,547.72 in the previous period[120] - Interest expenses for the period were RMB 13,692,407.18, up from RMB 11,787,407.21 in the previous period[120] - Investment activities generated a net cash outflow of RMB 112.71 million, compared to RMB 119.12 million in the previous period[123] - Financing activities resulted in a net cash outflow of RMB 41.66 million, a significant decrease from the net inflow of RMB 9.79 million in the previous period[123] - The company's cash and cash equivalents decreased by RMB 37.93 million, compared to an increase of RMB 4.27 million in the previous period[124] - Operating activities generated a net cash inflow of RMB 20.38 million, down from RMB 53.71 million in the previous period[124] - The company received RMB 362.77 million in borrowings, an increase from RMB 251.05 million in the previous period[123] - The company repaid RMB 304.77 million in debt, significantly higher than the RMB 109.63 million repaid in the previous period[123] - The company invested RMB 111.00 million in fixed assets, intangible assets, and other long-term assets, slightly higher than the RMB 107.84 million invested in the previous period[123] - The company's cash and cash equivalents balance at the end of the period was RMB 366.79 million, compared to RMB 262.87 million in the previous period[124] - The parent company's cash and cash equivalents decreased by RMB 19.60 million, compared to an increase of RMB 45.81 million in the previous period[125] - The parent company received RMB 293.00 million in borrowings, an increase from RMB 199.05 million in the previous period[125] - Total owner's equity as of June 30, 2024, was RMB 1,408,205,946.82, with minority interests amounting to RMB 143,141,250.58[126] - The company's capital reserve remained unchanged at RMB 38,399,577.13 for the period[126][129] - Net profit attributable to the parent company's owners decreased by RMB 11,942,120.95 compared to the previous period[126] - Owner's equity decreased by RMB 8,566,709.51 due to capital reduction and owner's investment[126][143] - The company's share capital remained stable at RMB 74,600,300.00[126][153] - Comprehensive income for the period showed a decrease of RMB 2,382,931.61 compared to the previous period[129] - The company's undistributed profit decreased by RMB 22,380,090.00 due to profit distribution[139] - Total owner's equity at the beginning of the year was RMB 1,265,064,696.24[126] - The company's special reserve decreased by RMB 3,375,411.44 during the period[126] - Owner's equity at the end of the period was RMB 1,263,645,164.63[140] - Total owner's equity as of June 30, 2024, is RMB 1,226,134,196.95[161] - Undistributed profits amount to RMB 241,903,691.18[161] - Surplus reserve stands at RMB 38,399,577.13[161] - The company's registered capital is RMB 74,600,300.00[162] - Cumulative issued share capital as of June 30, 2024, is 74.60 million shares[163] - The company's main business activities include operating psychiatric hospitals and providing hospital management services[163] - The company's actual controllers are Guan Weili and his spouse Wang Lianyue[163] - The company's income tax rate is 15%[166] - The company's subsidiary, Zhejiang Jieling Health Technology Co., Ltd., has a 15% income tax rate[167] - The company has applied for high-tech enterprise qualification and expects to receive the certificate by December 2024, which would reduce its income tax rate to 15%[167] - Total monetary funds decreased to RMB 373.3 million from RMB 418.9 million at the end of the previous year, with bank deposits accounting for the majority at RMB 367.2 million[169] - Trading financial assets increased slightly to RMB 7.6 million, all of which are equity instrument investments[170] - Accounts receivable increased to RMB 500.9 million, with 88.6% (RMB 443.6 million) within 1 year and bad debt provision increased to RMB 52.8 million[173] - Significant bad debt provision for patient medical fee arrears was RMB 24.3 million, representing 84.56% of the total amount[175] -