Financial Performance - Revenue for the year ended December 31, 2022, was RMB 4,119,478 thousand, representing an 18.6% increase from RMB 3,473,930 thousand in 2021[2] - Gross profit for the same period was RMB 337,352 thousand, reflecting a 19.0% increase compared to RMB 283,449 thousand in the previous year[2] - The net loss for the year was RMB (1,371,764) thousand, a 63.4% improvement from a net loss of RMB (3,748,503) thousand in 2021[2] - Adjusted net loss (non-IFRS measure) for the year was RMB (258,682) thousand, down 29.1% from RMB (365,084) thousand in the prior year[2] - Total revenue for 2022 reached approximately RMB 4,119.5 million, an increase of 18.6% compared to RMB 3,473.9 million in 2021[14] - The specialty pharmacy business generated revenue of RMB 3,661.8 million, up 16.7% from RMB 3,136.5 million in 2021, driven by an increase in store count from 91 to 96[15] - Revenue from the physician research assistance business rose by 30.5% to RMB 319.4 million, compared to RMB 244.9 million in 2021[16] - Health insurance services revenue surged by 49.3% to RMB 138.2 million, up from RMB 92.6 million in 2021, due to the expansion of corporate client business and new health insurance plans in various cities[16] - The gross margin for the specialty pharmacy business decreased slightly to 5.0% in 2022 from 5.9% in 2021, offset by an increase in the gross margin for health insurance services to 63.5%[18] - The basic and diluted loss per share for the year was RMB 12.19, down from RMB 37.61 in 2021, indicating improved performance on a per-share basis[41] Operational Efficiency - The company operates 96 specialty pharmacies across all provincial-level administrative regions in mainland China, excluding Tibet and Qinghai[6] - The company has completed 468 SMO projects and has 795 ongoing SMO projects, maintaining a 100% client retention rate among the top ten SMO clients[7] - The health service provider network connects over 1,200 tertiary hospitals, 55,000 doctors, and 500 health check institutions across more than 150 major cities in China[8] - The company optimized its workforce from 3,859 employees at the end of 2021 to 3,210 employees by the end of 2022, enhancing operational efficiency[10] - The company sold its internet hospital services on September 15, 2022, to improve operational efficiency and focus on core business[30] Financial Position - As of December 31, 2022, the net current assets were approximately RMB 1,640.0 million, with a debt-to-asset ratio of approximately 37.4%[29] - Cash and cash equivalents as of December 31, 2022, were approximately RMB 1,455.5 million[29] - Total assets as of December 31, 2022, amounted to RMB 2,929,554 thousand, compared to RMB 2,892,819 thousand in 2021, showing a slight increase[42] - Cash and cash equivalents increased to RMB 1,455,454 thousand in 2022 from RMB 535,849 thousand in 2021, indicating improved liquidity[42] - The company’s non-current liabilities decreased significantly to RMB 40,080 thousand in 2022 from RMB 7,492,929 thousand in 2021, primarily due to the elimination of convertible redeemable preferred shares[44] - The company had contract liabilities totaling RMB 901,000,000 as of December 31, 2022, down from RMB 992,000,000 in 2021[60] Cost Management - Sales and marketing expenses increased by approximately 14.2% from RMB 291.5 million in 2021 to RMB 332.9 million in 2022, primarily due to an increase in employee costs related to specialty pharmacy business[21] - Administrative expenses decreased by approximately 14.2% from RMB 670.0 million in 2021 to RMB 575.0 million in 2022, mainly due to a reduction in employee costs resulting from functional adjustments and improved administrative efficiency[22] - Research and development expenses increased by approximately 5.9% from RMB 59.2 million in 2021 to RMB 62.7 million in 2022, primarily due to an increase in employee costs[23] - The total cost of goods sold for 2022 was RMB 3,478,464,000, an increase from RMB 2,942,987,000 in 2021[61] - The company’s employee costs (excluding directors and highest paid executives) totaled RMB 599,295,000 in 2022, slightly up from RMB 581,953,000 in 2021[61] Strategic Initiatives - The company emphasizes organic growth strategies, maintaining service quality control across standardized professional services[9] - The business model has demonstrated resilience and adaptability in response to challenges posed by the COVID-19 pandemic[9] - The company aims to lead the digital transformation of the healthcare industry in China, establishing a comprehensive health management network[34] - The company is focused on enhancing its technology and digital infrastructure to support operations and improve data processing and analysis capabilities[11] - The planned use of the net proceeds includes 87% for business expansion, with specific allocations for expanding specialty pharmacy operations (35% or HKD 42,200,000), doctor research assistance (28% or HKD 33,700,000), and health insurance services (24% or HKD 28,900,000)[38] Corporate Governance - The company has adopted the Corporate Governance Code as per the Stock Exchange Listing Rules and has complied with all applicable provisions during the reporting period, except for specific deviations noted[81] - The company plans to hold at least four board meetings annually, approximately once per quarter, in accordance with the Corporate Governance Code[82] - The company has not conducted any board meetings from its listing date on December 23, 2022, to December 31, 2022, due to its recent public listing[82] - The company will issue a detailed corporate governance report in its 2022 annual report, explaining its governance structure and application of the Corporate Governance Code[82] - The audit committee, along with the board and external auditors, reviewed the accounting standards and practices adopted by the group for the year ending December 31, 2022[84]
思派健康(00314) - 2022 - 年度业绩