Financial Performance - Revenue for the year ended December 31, 2024, was RMB 768,725,000, representing a 1.1% increase from RMB 760,527,000 in 2023[2] - Gross profit decreased by 12.5% to RMB 126,692,000 from RMB 144,844,000 in the previous year[2] - Profit attributable to owners of the company was RMB 31,151,000, down 18.7% from RMB 38,310,000 in 2023[2] - Basic and diluted earnings per share decreased by 14.3% to RMB 0.06 from RMB 0.07[2] - Operating profit for the year was RMB 50,421,000, a decline from RMB 57,445,000 in 2023[4] - The net profit attributable to the company's owners for the year ended December 31, 2024, was RMB 31,151 thousand, down from RMB 38,310 thousand in 2023, a decrease of about 18.5%[22] - Basic earnings per share for 2024 was RMB 0.06, compared to RMB 0.07 in 2023, representing a decline of approximately 14.3%[22] - Net profit decreased by 18.7% from RMB 38.7 million in 2023 to RMB 31.5 million in 2024, resulting in net profit margins of 5.1% and 4.2% respectively[55] Revenue Breakdown - Revenue from medical services was RMB 456,442 thousand in 2024, slightly down from RMB 465,598 thousand in 2023, indicating a decrease of about 3.3%[20] - Pharmaceutical sales increased to RMB 308,861 thousand in 2024 from RMB 294,929 thousand in 2023, reflecting a growth of approximately 4.7%[20] - Outpatient medical service revenue rose by 8.0% from RMB 402.6 million in 2023 to RMB 434.7 million in 2024, driven by an increase in outpatient patient visits and average fees[48] - Inpatient medical service revenue decreased by 7.6% from RMB 357.9 million in 2023 to RMB 330.6 million in 2024, attributed to a decline in inpatient patient visits and average fees[48] Assets and Liabilities - Total assets increased slightly to RMB 974,003,000 from RMB 968,709,000[10] - Total liabilities decreased to RMB 395,080,000 from RMB 421,262,000[10] - Current liabilities decreased to RMB 380,403,000 from RMB 395,465,000[10] - The group's total liabilities decreased to RMB 100,666 thousand in 2024 from RMB 124,461 thousand in 2023, a reduction of approximately 19.1%[26] - The company's debt-to-asset ratio as of December 31, 2024, was 40.6%, down from 43.5% as of December 31, 2023[72] Cash Flow - The net cash generated from operating activities decreased from RMB 91.6 million for the year ended December 31, 2023, to RMB 83.3 million for the year ended December 31, 2024, primarily due to slower collection of receivables from the medical insurance bureau[67] - The net cash used in investing activities decreased from RMB 88.8 million for the year ended December 31, 2023, to RMB 51.4 million for the year ended December 31, 2024, mainly due to a reduction in expenditures for facility upgrades and equipment purchases by RMB 37.4 million[68] - The net cash used in financing activities decreased from RMB 19.1 million for the year ended December 31, 2023, to RMB 13.3 million for the year ended December 31, 2024, due to new borrowings of RMB 156.7 million and repayments of borrowings and related interest totaling RMB 168.4 million[69] Operational Metrics - Total inpatient visits decreased by 3.4% to 52,940 for the year ending December 31, 2024, compared to 54,795 for the previous year[34] - The number of outpatient visits increased by 2.8% to 1,440,183 for the year ending December 31, 2024, compared to 1,400,791 for the previous year[35] - Outpatient average cost increased by 5.0% to RMB 301.9 for the year ending December 31, 2024, compared to RMB 287.4 for the previous year[34] - The average length of hospital stay increased by 2.0% to 9.5 days for the year ending December 31, 2024, compared to 9.3 days for the previous year[35] Corporate Governance - The company has adopted corporate governance codes and complied with all applicable provisions, except for the separation of roles between the Chairman and CEO as stipulated in the corporate governance code[78] - The company has appointed Mr. Qin Yan as both Chairman and CEO, believing his leadership will effectively guide business decisions and strategies[79] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2024, and found them to be prepared in accordance with applicable accounting standards[81] - The company has adopted a standard code of conduct for directors regarding securities trading, which has been confirmed as adhered to by all directors during the reporting period[80] - The company has made changes to the Nomination Committee to enhance corporate governance and meet new gender diversity requirements effective July 1, 2025[88] Future Plans and Strategies - The company is focusing on enhancing competitiveness through specialized services, service innovation, and technological breakthroughs in response to market pressures and opportunities[31] - Future plans include advancing tiered evaluation, smart hospital construction, and specialized treatment center development[42] - The company aims to strengthen cost control and risk management in response to DRG/DIP medical insurance payment policies[45] - The company is adapting to changes in the economic environment by optimizing cost structures and improving treatment efficiency[30] Social Responsibility - The company actively engages in social responsibility initiatives, including free lung nodule screening activities[41] - The company focuses on integrating medical resources and enhancing collaborative development for sustainable growth[45] Shareholder Information - The company has not declared any dividends for the year ending December 31, 2024[27] - The company will not recommend the payment of a final dividend for the year ending December 31, 2024[84] - The annual performance announcement will be published on the company's website and the Hong Kong Stock Exchange website, with the annual report to be sent to shareholders in due course[85] - The company will hold its annual general meeting on June 13, 2025, with details to be provided to shareholders[86] - The company will suspend the registration of share transfers from June 10, 2025, to June 13, 2025, to determine eligibility for attending the annual general meeting[87] Miscellaneous - The company has not engaged in any purchases, sales, or redemptions of its listed securities during the year ended December 31, 2024[76] - There were no significant events occurring after the reporting period as of the announcement date[77] - The company has obtained 60 scientific and technological achievements, including practical information management systems[40] - The company's auditor, PwC, has confirmed that the figures in the consolidated financial statements are consistent with the audited financial statements for the year[82] - The reporting period ends on December 31, 2024, as per the company's announcement[94] - The company has adopted a restricted share unit plan on May 9, 2023, to incentivize performance among directors[94]
宏力医疗管理(09906) - 2024 - 年度业绩