Financial Performance - New Century Healthcare reported a total revenue of RMB 10.4 million for the year ended December 31, 2022, which is a slight decrease from the annual cap of RMB 10.5 million[31]. - The company reported a total comprehensive loss attributable to owners of RMB 101,461,000 for the year, compared to a loss of RMB 85,262,000 in 2021, indicating a worsening financial performance[163]. - The net loss for the year was RMB 291,573 thousand, compared to a net loss of RMB 85,262 thousand in 2021, indicating a significant increase in losses[186]. - Basic and diluted loss per share for the year was RMB 0.62, compared to RMB 0.21 in the previous year, showing a deterioration in earnings per share[186]. - The accumulated losses increased significantly from RMB 371,592 thousand in 2021 to RMB 669,326 thousand in 2022, representing an increase of approximately 80.2%[159]. - Total revenue for the year ended December 31, 2022, was RMB 636,459 thousand, a slight increase from RMB 632,565 thousand in 2021, representing a growth of approximately 0.6%[186]. Corporate Governance - The company aims to maintain a high standard of corporate governance to enhance transparency and accountability in its business strategies[41]. - The company has complied with all applicable code provisions of the Corporate Governance Code, except for the separation of the roles of Chairman and CEO[68]. - The board currently consists of 12 members, with 3 women, resulting in a female representation of 25%[86]. - The company has a board diversity policy that considers various factors including professional qualifications, industry experience, and gender[79]. - The company aims to enhance gender diversity on the board and will continue to increase the proportion of female members as suitable candidates are identified[86]. - The nomination committee will monitor the implementation of the board diversity policy and review the composition of the board at least annually[108]. Audit and Compliance - The company’s independent auditors provided an unqualified opinion on the disclosed continuing related transactions[27]. - The company has appointed PwC as its auditor for the year ending December 31, 2022, and will propose their reappointment at the upcoming annual general meeting[67]. - All independent non-executive directors have confirmed their independence in writing according to listing rules[72]. - The audit committee held three meetings in 2022 to review interim and annual financial performance and significant matters related to financial reporting[100]. Financial Position - The total assets decreased from RMB 1,270,896 thousand in 2021 to RMB 901,384 thousand in 2022, representing a decline of approximately 29.1%[159]. - The company's total equity decreased from RMB 684,238 thousand in 2021 to RMB 361,351 thousand in 2022, a decline of about 47.3%[159]. - The total liabilities decreased to RMB 540,033 thousand in 2022 from RMB 586,658 thousand in 2021, reflecting a reduction of about 7.9%[184]. - Non-current liabilities decreased from RMB 295,481 thousand in 2021 to RMB 206,221 thousand in 2022, a reduction of approximately 30.2%[184]. - The total equity and liabilities amounted to RMB 901,384 thousand in 2022, down from RMB 1,270,896 thousand in 2021, a decrease of approximately 29.1%[184]. Operational Highlights - The company continues to focus on pediatric and obstetric specialty services in China, along with hospital consulting and online medical services[189]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee its affairs[50]. - The Remuneration Committee held one meeting in 2022 to review the company's remuneration policies and provide recommendations to the board[51]. - The Nomination Committee also held one meeting in 2022 to review the structure and independence of the board[52]. Cash Flow and Investments - Operating cash flow for the year ended December 31, 2022, was RMB 106,550,000, an increase from RMB 62,700,000 in 2021, representing a growth of 69.9%[165]. - Net cash generated from operating activities was RMB 76,280,000, significantly up from RMB 22,255,000 in the previous year, indicating a substantial improvement in operational efficiency[165]. - The company incurred a net cash outflow from investing activities of RMB 23,068,000, compared to RMB 15,743,000 in the previous year, indicating increased investment activity[165]. Risk Management and Internal Controls - The company focuses on risk management and internal controls, emphasizing customer and employee safety, quality control, and general risk management[114]. - The company’s internal control processes are regularly reviewed and assessed for effectiveness, although they cannot guarantee the absolute prevention of significant errors or fraud[114]. - The company conducts annual impairment tests for goodwill and other intangible assets, adjusting for any identified impairments[122]. Asset Management - The company reported a goodwill impairment assessment as of December 31, 2022, indicating potential risks in asset valuation[143]. - The company utilized a sensitivity analysis to evaluate the impact of key assumptions on the recoverable amount of cash-generating units[145]. - The company’s management made significant judgments regarding expected credit loss estimates based on historical credit records and macroeconomic parameters[147].
新世纪医疗(01518) - 2022 - 年度财报