Financial Performance - For the year ended December 31, 2023, China Health Group Inc. reported revenue of RMB 21,425,000, an increase of 63.6% compared to RMB 13,090,000 in 2022[10]. - The gross profit for the year was RMB 8,212,000, representing a gross margin of approximately 38.3%[10]. - The company incurred a loss before taxation of RMB 58,211,000, compared to a loss of RMB 15,826,000 in the previous year, indicating a significant increase in losses[10]. - Basic and diluted loss per share for the year was RMB 5.83, compared to RMB 1.59 in 2022, reflecting a deterioration in financial performance[10]. - Loss before taxation for 2023 was RMB 58,014,000, compared to a loss of RMB 15,826,000 in 2022[44]. - The Group recorded a loss before tax of approximately RMB 58,211,000 for the year, compared to a loss of approximately RMB 15,826,000 in the same period last year[57]. - The Group incurred a net loss of approximately RMB 58,211,000 for the year ended December 31, 2023, with cash and cash equivalents of only approximately RMB 4,140,000 and current liabilities of approximately RMB 35,166,000[141]. Assets and Liabilities - Non-current assets increased to RMB 7,169,000 in 2023 from RMB 1,399,000 in 2022, indicating investment in long-term assets[12]. - Current assets decreased to RMB 112,180,000 in 2023 from RMB 177,226,000 in 2022, primarily due to a reduction in trade and bills receivables[12]. - Net current assets fell to RMB 77,014,000 in 2023, down from RMB 140,484,000 in 2022, highlighting liquidity challenges[12]. - Total equity attributable to owners of the company decreased to RMB 84,819,000 in 2023 from RMB 142,322,000 in 2022, reflecting a decline in shareholder value[12]. - The expected credit loss on trade and bills receivables significantly increased to RMB 57,937,000 in 2023 from RMB 7,827,000 in 2022[41]. - As of December 31, 2023, the Group's net current assets were approximately RMB 77,014,000, down from approximately RMB 140,484,000 in 2022[65]. - The gearing ratio was nil as of 31 December 2023, indicating no borrowings during the year[66]. - The Group had no charge on any of its assets as of 31 December 2023[172]. - There were no significant contingent liabilities as of 31 December 2023[173]. Revenue Breakdown - Revenue from post-market services increased to RMB 17,500,000 in 2023 from RMB 13,090,000 in 2022, representing a growth of 33.5%[30]. - Revenue from contracted clinical research services was RMB 3,925,000 in 2023, with no revenue reported in 2022[30]. - Total revenue for 2023 reached RMB 21,425,000, up from RMB 13,090,000 in 2022, marking a significant increase of 63.6%[30]. - Revenue from post-marketing research and academic extension services was about RMB 17,500,000, accounting for approximately 81.68% of the total revenue[56]. Operational Changes and Strategies - The company is focused on expanding its market presence and enhancing its service offerings to improve future performance[6]. - The Group's management responded to significant downward pressure in the domestic drug market by strengthening its professional capacity building, achieving positive results despite reduced investment and halted clinical research[130][144]. - The Group has shifted focus from drug development services to big data and post-marketing clinical research for five core diseases, establishing five major specialty brands[131][145]. - The Group launched two new business models: the "Research-based Therapy RWS-Therapy Model" and the "Digital clinical research-based promotion D-CRCO model," redefining traditional treatment and commercialization approaches[133][147]. - The comprehensive medical terminal service complex aims to create a closed-loop system from research to rehabilitation, supported by intelligent digital technology[134][148]. - The Group is committed to building digital medical capabilities to support a comprehensive service model from research to patient care[134][148]. Employee and Administrative Costs - Staff costs decreased to RMB 4,549,000 in 2023 from RMB 7,516,000 in 2022, a reduction of 39.4%[41]. - The total consolidated administrative expenses, including staff costs, were approximately RMB 66,543,000 for the year, significantly higher than approximately RMB 21,800,000 in the previous year[58]. - The Group's employee costs for the year were approximately RMB 4,549,000, a decrease from RMB 7,516,000 in the previous year, with a total of 42 employees as of December 31, 2023[100][108]. - The Group had 42 employees as of December 31, 2023, a decrease from 47 employees in the previous year[186]. Corporate Governance and Compliance - The Audit Committee reviewed the consolidated financial statements for the year ended December 31, 2023, and confirmed compliance with applicable accounting standards and GEM Listing Rules[122]. - The Group's remuneration policy is based on individual performance, with various benefits provided to employees, including medical and pension contributions[98]. - There were no significant disclosable events after the reporting period[97]. - The Group did not purchase, sell, or redeem any of its listed securities during the year[188]. Future Outlook - The company aims to become a leading anti-allergy center globally, with over 60% of anti-allergy drugs developed by the Baymin Clinical Research Center[78]. - The Group may consider raising further funds through bank loans, issuance of new shares, convertible notes, and issuance of new debts for future development[67]. - The company has established digital medicine clinics in collaboration with top medical institutions across major cities in China[83]. - The Group has established partnerships with top medical institutions in Beijing, Shanghai, and Guangzhou to develop digital specialty clinics, focusing on areas such as smoking cessation and psychological treatment[88].
中国医疗集团(08225) - 2023 - 年度业绩