Company Overview - Sinohealth Holdings has become the largest healthcare insight solution provider in China, partnering with over 60,000 retail pharmacy stores and storing over 25TB of data in its "Tiangong No.1" platform[21]. - The company provides customized and standardized digital intelligence solutions to over 900 corporate clients, including more than 60 top medical product manufacturers[22]. - 2022 is a milestone year as the company was successfully listed on the Stock Exchange on July 12, 2022, marking a new phase of development[23][24]. Financial Performance - Total revenue increased by approximately 13.3% to approximately RMB121.21 million in the first half of 2022 compared to RMB106.98 million in the first half of 2021[28]. - Gross profit decreased by approximately 8.6% to RMB56.65 million in the first half of 2022, compared to RMB62.01 million in the first half of 2021[28]. - Net profit fell by approximately 57.2% to RMB5.29 million in the first half of 2022, down from RMB12.37 million in the same period of 2021[28]. - Adjusted net profit decreased by approximately 62.4% to RMB9.48 million in the first half of 2022, compared to RMB25.20 million in the first half of 2021[28]. - Other income and gains decreased by approximately 38.0% to approximately RMB10.86 million, primarily due to a decline in government grants from approximately RMB10.93 million in the first half of 2021 to approximately RMB3.79 million in the first half of 2022[80]. - The Group recorded revenue of approximately RMB121.21 million in the first half of 2022, representing an increase of approximately 13.3% compared to the same period last year[79]. - The company reported a profit before tax of 53,926,000 for the six months ended June 30, 2022[130]. - Profit for the period was RMB 5,287,000, a significant decrease of 57.3% compared to RMB 12,367,000 in 2021[131]. Revenue Breakdown - Data Insight Solutions segment revenue grew by approximately 64.3% to approximately RMB83.55 million in the first half of 2022, up from RMB50.86 million in the same period of 2021[28]. - SaaS segment revenue rose by approximately 45.8% to approximately RMB16.64 million in the first half of 2022, compared to RMB11.41 million in the first half of 2021[28]. - Revenue from Data-driven Publications and Events decreased by approximately 53.0% to approximately RMB21.02 million in the first half of 2022, down from RMB44.71 million in the same period of 2021[28]. - Revenue from Data Insight Solutions amounted to approximately RMB 83.55 million in the first half of 2022, representing an increase of approximately 64.3% compared to the same period in 2021, contributing approximately 68.9% to total revenue[50]. - Revenue from Data-driven Publications and Events was approximately RMB21.02 million in the first half of 2022, a decrease of approximately 53.0% compared to the same period in 2021, contributing about 17.3% to total revenue[56]. - Revenue from SaaS amounted to approximately RMB16.64 million in the first half of 2022, representing an increase of approximately 45.8% compared to the same period in 2021, with its contribution to total revenue rising to approximately 13.8%[59]. Client and Market Expansion - The number of corporate clients increased by 29 to 286 in the first half of 2022, driven by the expansion into DTP pharmacies and e-commerce markets[51]. - The Group plans to enhance its SaaS products in pharmacies and expand the installation base and user numbers in the second half of 2022[33]. - The introduction of new data insight solutions will target DTP pharmacies, e-commerce, and county market insights to attract more customers[37]. - The Group will host more industry events in the second half of 2022 to enhance interaction among ecosystem participants and stabilize revenue from its business segments[37]. Technological Development - The Group aims to invest in product and technological innovation, including the development of new products and services in Data Insight Solutions[34]. - The Group plans to enhance its SaaS products, including launching an upgraded SIC system and a new Smart Analysis Cloud product[38]. - The Smart Health Management Cloud product AI-MDT has been fully launched, aimed at expanding cooperation with public and private physical examination institutions[40]. - The Group will continue to invest in big data, cloud computing, and AI technologies to strengthen its technological capabilities and market share[39]. Operational Metrics - As of June 30, 2022, there were 213 backlog contracts with an expected revenue of approximately RMB 101.48 million to be recognized in the second half of 2022[52]. - As of June 30, 2022, more than 1,100 retail pharmacies and over 50,000 stores signed up for the Smart Retail Cloud's SIC service, reflecting increases of approximately 35% and 36% year-on-year, respectively[60]. - The number of partnering pharmacies increased to 1,257 as of June 30, 2022, covering 63,234 retail stores, which is a year-on-year increase of approximately 34.7%[64]. - Pharmacy staff using the SIC mobile app reached approximately 192,000, representing a year-on-year increase of approximately 28.0%[64]. - Pharmacy consumers managed by pharmacies through SIC reached approximately 231 million, a year-on-year increase of approximately 77.7%[64]. Research and Development - The Group invested heavily in R&D in the first half of 2022, focusing on the development and commercialization of its proprietary aPaaS products[68]. - Research and development costs rose to RMB 28,520,000, reflecting a 18.9% increase from RMB 24,084,000 in the previous year[184]. Cash Flow and Financial Position - Cash and cash equivalents increased by approximately 190.0% to approximately RMB98.47 million as of June 30, 2022, indicating a strong cash position[92]. - The Group's cash flow from operations was approximately RMB 1.84 million, a decrease of about 95.3% compared to the same period last year[101]. - The Group's gearing ratio as of June 30, 2022, was approximately 22.6%, down from 24.3% as of December 31, 2021[101]. - The Group did not have any bank borrowings or unutilized banking facilities as of June 30, 2022[101]. - The company reported a net increase in cash and cash equivalents of RMB 64,239,000, contrasting with a decrease of RMB (2,794,000) in the prior year[154]. Shareholder Information - The total number of shares issued as of the report date is 451,770,000[116]. - Mr. Wu Yushu and Ms. Wang Lifang collectively hold 268,987,500 shares, representing approximately 59.54% of the company's interest[116]. - Wellmark Link Limited holds 181,237,500 shares, accounting for 55.06% of the company's interest[120]. - The report indicates that no other directors or chief executives have disclosed interests or short positions in the company's shares[118]. Corporate Governance - The Company has adopted the Model Code for Directors' securities transactions and confirmed compliance since the Listing Date[111]. - The Company has maintained good corporate governance practices, ensuring transparency and accountability to shareholders[109]. - The Board believes that the current structure of having the same individual serve as both Chairman and CEO will not impair the balance of power and authority within the Group[109].
中康控股(02361) - 2022 - 中期财报