Financial Performance - For the first half of 2022, the company reported operating revenue of RMB 738,305,000, an increase of 21.5% compared to RMB 607,737,000 in the same period of 2021[20]. - The profit before tax for the first half of 2022 was RMB 63,331,000, up from RMB 53,745,000 in the first half of 2021, representing an increase of 17.5%[20]. - The net profit attributable to shareholders for the first half of 2022 was RMB 38,788,000, compared to RMB 35,003,000 in the same period of 2021, reflecting an increase of 7.9%[20]. - The net profit for minority shareholders in the first half of 2022 was RMB 5,433,000, significantly higher than RMB 1,235,000 in the same period of 2021[20]. - The total gross profit for the group reached RMB 197.8 million, an increase of 28.8% compared to the same period in 2021[51]. - The gross profit margin for self-owned hospitals was 26.5%, compared to 25.6% for the same period in 2021, with overall gross profit increasing to RMB 197.8 million, a growth of 28.8%[25]. - The gross margin for the group increased to 26.8%, compared to 25.3% for the same period in 2021[51]. - The revenue from pharmaceutical sales for the six months ended June 30, 2022, was RMB 147,586,000, a 15.0% increase from RMB 128,280,000 in the previous year[175]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 2,693,723,000, an increase from RMB 2,377,968,000 as of December 31, 2021[20]. - The company’s total liabilities increased to RMB 1,339,418,000 as of June 30, 2022, compared to RMB 1,106,880,000 at the end of 2021[20]. - The company’s total equity as of June 30, 2022, was RMB 1,354,305,000, up from RMB 1,271,088,000 at the end of 2021[20]. - Accounts receivable increased to RMB 422.1 million, a 35.4% growth compared to RMB 311.8 million as of December 31, 2021[83]. - The group's bank borrowings increased to RMB 783.4 million from RMB 553.2 million as of December 31, 2021, due to new borrowings of RMB 317.5 million[85]. - The asset-liability ratio slightly increased to 49.7% from 46.5% as of December 31, 2021, mainly due to the increase in bank borrowings[92]. Operational Highlights - The group achieved revenue of RMB 738.3 million, an increase of 21.5% compared to the same period in 2021, with self-owned hospital operating revenue at RMB 683.1 million, up 21.7%[25]. - The number of outpatient visits increased to 225,032, a rise of 26.5%, with outpatient revenue reaching RMB 101.0 million, up 29.5% compared to the previous year[46]. - The group expanded its self-owned hospitals to 30, including one independent internet hospital, with total operational beds increasing to 9,558[22]. - The group reported a significant increase in billing income from self-owned hospitals to RMB 689.6 million, up RMB 111.6 million from the previous year, driven by growth in several hospitals and new acquisitions[42]. - The inpatient billing revenue was RMB 588.6 million, a 17.7% increase year-on-year, attributed to a 14.4% growth in inpatient bed days[65]. Expenses and Costs - The cost of self-owned hospital services increased to RMB 502.1 million, up from RMB 417.6 million in the previous year, with significant rises in employee benefits and medical supplies[47]. - The management expenses for the group were RMB 94.9 million, reflecting a 24.8% increase compared to the previous year[54]. - The total management expenses rose to RMB 94.9 million from RMB 76.1 million in the same period of 2021, driven by increased employee benefits and professional service fees[73]. - The group's self-owned hospital revenue cost increased to RMB 502.1 million, a 20.2% increase compared to the same period in 2021[68]. - Total finance costs increased to RMB 21.65 million, compared to RMB 17.24 million in the previous year, representing a rise of 25.0%[100]. Strategic Initiatives - The company is committed to its long-term development strategy of "Centennial Kangning" amidst ongoing healthcare payment reforms[21]. - The group plans to enhance its healthcare service capabilities and establish a multi-level, diversified healthcare service network, focusing on mental health and elderly care[23]. - The group aims to deepen the integration of industry, academia, and research to promote the development of advantageous disciplines and improve talent cultivation mechanisms[23]. - The group is actively exploring new business areas such as social psychological services and clinical trials for drugs/devices[23]. - The group is focusing on the mental health and elderly medical industries, aligning with the ongoing "Healthy China" initiative and the aging society trend[173]. Employee and Governance - The group’s total number of employees increased to 4,245 from 3,661 as of December 31, 2021, reflecting a growth of 16.0%[112]. - The average employee compensation was RMB 115.6 thousand per year, compared to RMB 98.1 thousand in the same period last year, indicating a rise of 17.9%[112]. - The company has established an equity incentive plan to motivate senior management and core technical personnel, approved at the 2017 annual general meeting[125]. - The board believes that the company has complied with all provisions of the corporate governance code during the reporting period[162]. - The company has implemented measures to control insider information disclosure to minimize the number of individuals with access to such information[156].
康宁医院(02120) - 2022 - 中期财报