Financial Performance - For the year ended December 31, 2023, revenue was approximately RMB 13,650.2 million, an increase of 13.1% compared to RMB 12,073.2 million in 2022[2]. - Net profit for the year was approximately RMB 2,199.1 million, up 5.4% from RMB 2,085.9 million in 2022[2]. - The profit attributable to equity holders of the company was approximately RMB 2,020.9 million, reflecting a 7.0% increase from RMB 1,888.4 million in 2022[2]. - Basic earnings per share for equity holders was RMB 1.07, compared to RMB 1.00 in 2022[3]. - The total comprehensive income for the year was RMB 2,587.7 million, compared to RMB 1,640.8 million in 2022[6]. - The company's operating profit before tax for the year ended December 31, 2023, was RMB 2,866,213 thousand, an increase from RMB 2,703,274 thousand in 2022[11]. - The company's pre-tax profit for 2023 was RMB 2,866,213,000, up from RMB 2,703,274,000 in 2022, indicating a growth of 6.0%[60]. - The company's pre-tax profit before deducting expenses was RMB 2,314,508 thousand in 2023, up from RMB 1,998,626 thousand in 2022, indicating a growth of approximately 15.8%[45]. Revenue Breakdown - The healthcare business generated revenue of approximately RMB 7,832.8 million, growing by 22.9% year-over-year, accounting for 57.4% of total revenue[2]. - The financial services segment generated revenue of RMB 5,823,120 thousand, while the healthcare segment contributed RMB 7,827,083 thousand, with total segment revenue reaching RMB 13,650,203 thousand[36]. - Revenue from financial services was RMB 1,037,750 thousand, while healthcare services generated RMB 7,789,009 thousand, indicating a significant contribution from the healthcare segment[40]. - The healthcare segment's revenue from medical health services and hospital operation management was a significant contributor to the overall growth, with total healthcare revenue reaching RMB 7,827,083 thousand[36]. - The consolidated medical business segment reported a revenue of RMB 7,634.5 million for 2023, representing a year-on-year growth of 20.5%[175]. - The healthcare business's comprehensive medical revenue reached RMB 7,634.5 million, a 20.5% increase year-on-year[196]. Assets and Liabilities - Total assets as of December 31, 2023, were approximately RMB 80,344.7 million, a 4.4% increase from RMB 76,980.3 million in 2022[2]. - Total liabilities were RMB 59,976.8 million, compared to RMB 57,259.5 million in the previous year[172]. - Total current liabilities amounted to RMB 4,400,914 thousand in 2023, compared to RMB 3,243,531 thousand in 2022, indicating a growth of approximately 35.6%[116]. - The total amount of trade payables and notes payable rose to RMB 2,988,673 thousand in 2023, up from RMB 2,294,424 thousand in 2022, indicating an increase of approximately 30.3%[113]. - The total amount of contract liabilities decreased to RMB 248,489 thousand in December 2023 from RMB 263,874 thousand in December 2022, showing a reduction of about 5.9%[116]. Cash Flow and Investments - Adjusted operating cash flow for the year was RMB 4,993,965 thousand, significantly higher than RMB 2,032,068 thousand in the previous year[11]. - The total cash flow from operating activities, after accounting for interest received and income tax paid, was RMB 5,638,361 thousand in 2023[11]. - The company reported a significant increase in cash flow from operating activities, indicating improved operational efficiency[11]. - The company incurred cash payments for the acquisition of subsidiaries amounting to RMB (292,988) thousand in 2023, down from RMB 436,727 thousand in 2022[12]. - The company reported a net cash flow from financing activities of RMB (3,793,636) thousand in 2023, compared to RMB (1,576,418) thousand in 2022[12]. Equity and Shareholder Information - As of December 31, 2023, total equity attributable to equity holders was approximately RMB 15,677.7 million, a 12.1% increase from RMB 13,980.4 million in 2022[2]. - The proposed final dividend for 2023 is RMB 606,275,000, representing an increase of 6.9% from RMB 567,004,000 in 2022[61]. - The company plans to distribute a dividend of HKD 0.35 per share for 2023, with a payout ratio of 30%[173]. - The total remuneration for independent non-executive directors in 2023 was RMB 1,452,000, an increase of 5.5% from RMB 1,376,000 in 2022[49]. - The total remuneration for executive directors in 2023 was RMB 12,333,000, compared to RMB 13,255,000 in 2022, reflecting a decrease of 6.9%[53]. Strategic Initiatives and Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[9]. - The group aims to enhance its value creation capabilities in 2024, focusing on becoming a trusted world-class healthcare enterprise[185]. - The company plans to continue expanding its healthcare services and investing in new technologies to enhance operational efficiency[190]. - The company has made strategic acquisitions to enhance its competitive position in the industry[10]. - The company has established partnerships with over 10 well-known domestic and international equipment manufacturers, enhancing its core capabilities and industry positioning[182]. Operational Metrics - The total number of patient visits reached 9.35 million in 2023, a significant increase of 21.0% compared to 2022, while the bed occupancy rate improved by 10 percentage points to 90%[176]. - The effective medical income ratio increased from 56.9% in 2022 to 58.5% in 2023, supported by cost control measures[177]. - The average revenue per bed for tertiary hospitals was RMB 321, while for secondary hospitals it was RMB 306[187]. - The total number of consolidated hospital beds reached 14,353 as of December 31, 2023, excluding over 4,000 beds under internal planning and construction[175]. Financial Ratios - The return on equity for 2023 was 13.63%, while the return on total assets was 2.80%[2]. - The overall gross profit margin was 33.5%, with healthcare business gross margin at 23.4%[194]. - The non-performing asset ratio stood at 0.98%, with a 30-day overdue rate of 0.89% and a provision coverage ratio of 284.55%[184]. Acquisitions and Mergers - The acquisition of Beijing Zhongxing Hospital by Universal Medical Investment was completed on July 1, 2023, with an investment of RMB 8,125,000, resulting in a 66% ownership stake[18]. - Universal Medical Investment signed an agreement to acquire 100% equity of several hospitals for RMB 116,561,000, completed on December 31, 2023[19]. - The company acquired 60% of the equity in Bistad (Chengdu) Kidney Hospital for RMB 39,613 thousand on July 1, 2023[153]. - The company also acquired 100% of the equity in Haiyang Senzhikang Hospital for RMB 7,561 thousand on August 1, 2023[153]. - The group completed the acquisition of Shandong Qingniao Softcom Information Technology Co., Ltd., a leading smart health and elderly care company, in early 2024[183].
环球医疗(02666) - 2023 - 年度业绩