Financial Performance - Revenue for the year ended December 31, 2024, was RMB 2,924.5 million, a decrease of 2.3% compared to RMB 2,992.7 million for the year ended December 31, 2023[3] - Gross profit for the year ended December 31, 2024, was RMB 1,167.8 million, down 6.5% from RMB 1,249.5 million for the year ended December 31, 2023[3] - Profit attributable to owners of the company for the year ended December 31, 2024, was RMB 297.3 million, compared to RMB 363.8 million for the year ended December 31, 2023[3] - Adjusted EBITDA for the year ended December 31, 2024, was RMB 1,054.1 million, a decline of 1.7% from RMB 1,072.4 million for the year ended December 31, 2023[3] - Operating profit for the year ended December 31, 2024, was RMB 607.5 million, down from RMB 656.9 million for the year ended December 31, 2023[4] - Total comprehensive income for the year ended December 31, 2024, was RMB 341.6 million, compared to RMB 402.4 million for the year ended December 31, 2023[5] - The company reported a net profit of RMB 401,975,000 for the year, after tax expenses of RMB 143,657,000[24] - The net profit for the reporting period was RMB 354.7 million, down from RMB 402.0 million in the same period of 2023, primarily due to a decline in health check business revenue[73] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 4,858.5 million, an increase from RMB 4,637.8 million as of December 31, 2023[7] - Total liabilities as of December 31, 2024, were RMB 3,483.4 million, compared to RMB 3,523.7 million as of December 31, 2023[9] - Cash and cash equivalents as of December 31, 2024, were RMB 1,109.8 million, up from RMB 811.2 million as of December 31, 2023[7] - Trade receivables increased to RMB 357,264,000 in 2024 from RMB 315,006,000 in 2023, with a provision for losses of RMB 33,200,000[27] - Total bank borrowings as of December 31, 2024, amounted to RMB 797,000,000, a decrease of 6.2% from RMB 850,000,000 in 2023[37] - The company’s total lease liabilities as of December 31, 2024, were RMB 1,503,278,000, an increase of 7.4% from RMB 1,399,945,000 in 2023[38] - Current liabilities net of current assets decreased to RMB 323.3 million as of December 31, 2024, down from RMB 726.6 million in 2023, due to improved collection efficiency[80] - The debt-to-equity ratio improved to 46.4% as of December 31, 2024, down from 56.6% in 2023, due to a decrease in net financing and an increase in total equity[87] Revenue Segmentation - For the year ended December 31, 2024, total revenue was RMB 2,924,457,000, with segment revenue from the Comprehensive Hospital at RMB 604,418,000 and from the Health Check Center at RMB 2,358,755,000[23] - The segment profit for the Comprehensive Hospital was RMB 109,930,000, while the Health Check Center reported a segment profit of RMB 739,150,000[23] - The revenue from the comprehensive hospital business in 2024 was RMB 604.4 million, down 3.7% from RMB 627.7 million in 2023[61] - The revenue from the health check business in 2024 was RMB 2,358.8 million, a decline of 1.1% from RMB 2,386.0 million in 2023[62] Expenses and Costs - The sales cost for 2024 was RMB 1,756.7 million, an increase of 0.8% from RMB 1,743.2 million in 2023[63] - The administrative expenses rose to RMB 265.1 million in 2024 from RMB 223.8 million in 2023, primarily due to an increase in the number of health check centers[67] - Employee benefit expenses for 2024 were RMB 1,091,246,000, slightly down from RMB 1,098,021,000 in 2023[43] - The company’s income tax expense for 2024 was RMB 129,266,000, a decrease of 10.0% from RMB 143,657,000 in 2023[45] Operational Insights - The health check-up business remains the largest revenue contributor for the group, with 83 health check-up centers established nationwide, 75 of which are operational[57] - The customer satisfaction rate for on-site services in the health check-up segment reached 98.80%, an increase of 1.1 percentage points year-on-year[57] - The follow-up rate for significant abnormalities reached 83.2%, with 5,290 cases of tumor diagnosis tracked[57] - The company aims to enhance service quality and customer experience through strategic market focus and operational improvements in the health check-up business[57] - The company aims to enhance its core competitiveness by developing specialty departments and collaborating with high-level hospitals[59] - The company is focusing on digitalization and precision in healthcare services to strengthen its service capabilities across the entire health management chain[60] Governance and Compliance - The board consists of four executive directors and three independent non-executive directors, ensuring a strong independent element[101] - The company has maintained the required public float as per the listing rules of the Hong Kong Stock Exchange[99] - The audit committee reviewed the consolidated financial statements for the year ending December 31, 2024[104] - The company has adopted the corporate governance code as per the listing rules, ensuring compliance with relevant provisions[100] - The company did not recommend any final dividend for the year ending December 31, 2024[97] Future Outlook - The group has confidence in future operating cash flows based on past experience and good credit standing, allowing for potential bank financing extensions[15] - The company plans to expand its operations, as indicated by the increase in property and equipment additions[24] - The company has adopted revised Hong Kong Financial Reporting Standards effective January 1, 2024, with no significant impact on past performance or financial position[16] - New and revised Hong Kong Financial Reporting Standards have been announced but are not expected to have a significant impact on the group in the foreseeable future[17]
瑞慈医疗(01526) - 2024 - 年度业绩