广州金域医学检验集团股份有限公司关于上海证券交易所对公司2024年年度报告的事后审核问询函的回复公告

Core Viewpoint - The company, Guangzhou Kingmed Diagnostics Group Co., Ltd., has responded to the Shanghai Stock Exchange's inquiry regarding its 2024 annual report, addressing issues related to cash management, bank borrowings, asset impairments, and related party transactions. Group 1: Cash Management - As of December 31, 2024, the company's cash balance was CNY 2.433 billion, with restricted cash of CNY 11 million and interest income of CNY 23 million. Long-term borrowings increased by 92.42% to CNY 514 million [1][2][12] - The company reported a cash yield of 1.15%, which is higher than the bank's current interest rate, primarily due to the presence of certain agreed deposits [4][6] - The company maintains a significant cash reserve to manage short-term payment pressures and to respond to potential operational risks due to economic fluctuations [7] Group 2: Bank Borrowings - New bank borrowings during the reporting period were primarily used for capital expenditures, working capital, and repaying maturing debts. The company has a strategy to secure long-term loans to support significant capital projects [7][8] - The increase in long-term borrowings is justified by the need for funding important capital projects and maintaining a stable relationship with banks [7][8] Group 3: Asset Impairments - The company reported a significant impairment loss on accounts receivable amounting to CNY 619 million, with accounts receivable totaling CNY 4.396 billion, representing 60.07% of current assets [12][13] - The company has implemented measures to improve the collection of accounts receivable, including establishing a dedicated collection team and utilizing digital tools for monitoring [15][16] - Fixed assets worth CNY 506 million were scrapped, with accumulated depreciation of CNY 355 million, due to inefficiencies and inability to meet operational needs [17][18] Group 4: Related Party Transactions - The company engaged in significant transactions with Guangzhou Jinmianli Pharmaceutical Technology Co., Ltd., with procurement amounting to CNY 52 million and sales of CNY 64 million, reflecting substantial year-on-year growth [26][30] - The increase in transaction amounts is attributed to the transfer of equity in Jinmianli, which led to a change in the nature of the business relationship [29][30] - The transactions are deemed necessary for operational continuity and are conducted at fair market prices, with no indications of profit transfer [33][36] Group 5: Operating Performance - The company reported a revenue of CNY 7.190 billion for 2024, a decrease of 15.81% year-on-year, with a net loss of CNY 381 million compared to a profit of CNY 643 million in the previous year [37][44] - The decline in revenue is attributed to market demand slowdown, increased fixed cost allocation, and the impact of policy changes in the healthcare sector [40][41] - The company’s gross margin decreased from 36.48% in 2023 to 33.15% in 2024, reflecting the challenges faced in the current market environment [42][44]