Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of RMB 760,527,000, representing a 4.5% increase from RMB 727,789,000 in 2022[12]. - Gross profit for the same period was RMB 144,844,000, up 4.7% from RMB 138,395,000 in the previous year[12]. - The profit attributable to the company's owners decreased by 21.7% to RMB 38,310,000 from RMB 48,947,000 in 2022[12]. - Basic and diluted earnings per share were RMB 0.07, down 12.5% from RMB 0.08 in the prior year[12]. - Total comprehensive income for the year was RMB 38,698,000, down from RMB 49,343,000 in 2022[14]. - The net profit attributable to the company's owners for the year ended December 31, 2023, was RMB 38,310,000, down from RMB 48,947,000 in 2022, reflecting a decrease of approximately 21.6%[51]. - Basic earnings per share for the year ended December 31, 2023, was RMB 0.07, compared to RMB 0.08 in the previous year, indicating a decline in profitability per share[51]. - Net profit decreased by 21.6% from RMB 49.3 million for the year ended December 31, 2022, to RMB 38.7 million for the year ended December 31, 2023, with net profit margins of 6.8% and 5.1%, respectively[118]. Assets and Liabilities - The company's total assets as of December 31, 2023, amounted to RMB 968,709,000, compared to RMB 935,038,000 in 2022[9]. - As of December 31, 2023, the company had current liabilities exceeding current assets by RMB 59,735,000[26]. - Total assets as of December 31, 2023, were RMB 968,709,000, an increase from RMB 935,038,000 in 2022, showing a growth of approximately 3.6%[48]. - Non-current assets totaled RMB 632,979,000, up from RMB 601,746,000 in the previous year, representing an increase of about 5.2%[48]. - Current assets increased slightly to RMB 335,730,000 from RMB 333,292,000, indicating a marginal growth of approximately 0.7%[48]. - Trade receivables net value decreased to RMB 31.645 million in 2023 from RMB 47.358 million in 2022, reflecting a significant increase in impairment losses[86]. - Trade receivables decreased by 33.2% from RMB 474 million to RMB 316 million, mainly due to the settlement of receivables from the medical insurance bureau and provisions for bad debts[143]. - The net amount of current liabilities increased from RMB 442 million to RMB 597 million, mainly due to a decrease in trade receivables by RMB 157 million[170]. - The company's asset-liability ratio increased to 43.5% as of December 31, 2023, compared to 40.7% as of December 31, 2022[181]. Cash Flow - Cash and cash equivalents stood at RMB 239,755,000 as of December 31, 2023[26]. - Net cash generated from operating activities decreased from RMB 118.5 million for the year ended December 31, 2022, to RMB 91.6 million for the year ended December 31, 2023, primarily due to a reduction in operating profit[177]. - Net cash used in investing activities increased significantly from RMB 19.2 million for the year ended December 31, 2022, to RMB 88.8 million for the year ended December 31, 2023, mainly due to increased payments for the renovation of factories and equipment purchases totaling RMB 89.3 million[178]. - Net cash used in financing activities decreased from RMB 117.8 million for the year ended December 31, 2022, to RMB 19.1 million for the year ended December 31, 2023, primarily due to new borrowings of RMB 183.0 million and repayments of borrowings and related interest of RMB 147.5 million[178]. - The net decrease in cash and cash equivalents was RMB 16.3 million for the year ended December 31, 2023, compared to RMB 18.5 million for the year ended December 31, 2022[177]. Revenue Segments - Revenue from treatment and comprehensive medical services was RMB 465,598,000, while pharmaceutical sales amounted to RMB 294,929,000, indicating strong performance in both segments[48]. - The total revenue from treatment and comprehensive medical services was RMB 465.6 million, accounting for 61.2% of total revenue, while drug sales contributed RMB 294.9 million, accounting for 38.8%[108]. - Inpatient medical service revenue increased by 10.0% to RMB 357.9 million from RMB 325.4 million in the previous year, primarily due to an increase in inpatient visits[111]. - Revenue from drug sales amounted to RMB 294.9 million, representing an increase of 11.5% from RMB 264.6 million in the previous year[97]. - Outpatient medical service revenue increased slightly from RMB 402.4 million for the year ended December 31, 2022, to RMB 402.6 million for the year ended December 31, 2023, due to an increase in outpatient visits despite a decrease in average cost per visit[135]. Operational Metrics - Outpatient visits increased by 8.9% to 1,400,791 in 2023 from 1,286,815 in 2022, while inpatient visits rose by 7.6% to 54,795[73]. - The average cost per outpatient visit decreased by 8.1% to RMB 287.4 in 2023 from RMB 312.7 in 2022[73]. - The average length of stay for inpatients improved slightly to 9.3 days in 2023 from 9.6 days in 2022, reflecting a 3.5% decrease[73]. - The total number of inpatient visits reached 54,795, an increase of 7.6% compared to the previous year, which had 50,920 visits[95]. - The average cost per inpatient was RMB 6,394.4, a slight increase of 0.1% from RMB 6,385.2 in the previous year[95]. Strategic Initiatives - The company plans to secure an additional loan of RMB 60 million from an existing bank by March 5, 2024, subject to bank approval[27]. - The company plans to continue expanding its business scope and improving service chains in response to the aging population and healthcare service demands[105]. - The company has achieved a good balance between medical research and hospital management, with significant achievements in clinical efficacy and software development[102]. - The company plans to enhance talent cultivation and strengthen the mechanism for joint talent training with educational institutions to better serve the growing patient base[130]. - The group is actively implementing ESG development concepts to achieve high-quality green development[77]. Management and Governance - The company’s chairman and CEO, Mr. Qin Yan, is expected to provide strong and consistent leadership for effective business decision-making[161]. - The company will seek shareholder approval to amend its current articles of association to comply with revised listing rules[168]. - The company’s auditor confirmed that the financial statements for the year ended December 31, 2023, are consistent with the audited consolidated financial statements[164]. Miscellaneous - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[159]. - The company has adopted a restricted share unit plan on May 9, 2023, with no sales of restricted shares during the reporting period[182]. - The company did not have any contingent liabilities or guarantees that would significantly impact its financial position or operations as of December 31, 2023[175].
宏力医疗管理(09906) - 2023 - 年度业绩