Tag: medical

HONG KONG, Aug 31, 2022 - (ACN Newswire via SEAPRWire.com) - The board of directors of Genertec Universal Medical Group Co Ltd (the "Company" or "Universal Medical"; Stock code: 2666.HK) is pleased to announce the interim results of the Company and its subsidiaries (together, the "Group") for the six months ended 30 June 2022. Facing with various unexpected factors emerged during the first half of 2022, while making unwavering efforts to lead the subordinate medical institutions in its proactive commitment to fighting against the pandemic, the Group adhered to its established business strategies by continuing to move forward in the field of medical and healthcare, and steadily promoted its business and improved its overall operating performance.In the first half of 2022, the Group recorded a revenue of RMB5,712.3 million, representing an increase of 14.1% as compared to the corresponding period of the previous year; recorded a net profit of RMB1,176.4 million, representing an increase of 4.5% as compared to the corresponding period of the previous year; recorded a net profit attributable to owners of the parent of RMB1,089.4 million, representing an increase of 3.8% as compared to the corresponding period of the previous year; recorded return on total assets (ROA) of 3.20%, and return on equity (ROE) attributable to owners of the parent of 16.51%. The indicators of income maintained a steady performance and the asset quality was generally safe and controllable.The Profit of Hospital Group Increased by 13.7% While Accommodating the Needs for Pandemic ControlHospital group is the essential resources of building a healthcare conglomerate. Having been actively participating in integration and takeover of medical institutions of SOEs since 2017, the Group continued to expand its hospital group business, and orderly advanced its post-investment management to better accommodate the needs for pandemic control of SOE-owned hospitals. The Group also continuously enhanced the three core capabilities of "discipline", "operation" and "service", with an aim to build overall advantages of the hospital group in terms of safety, effectiveness, accessibility, and humanities as a way to promote high-quality development of hospitals of SOEs. Moreover, relying on the development foundation of the hospital group, the Group expanded business layout in various fields including medical service, life cycle management of medical equipment, medical testing, internet-based healthcare services, health and wellness and insurance, and actively expanded external customers while efficiently serving the Group's member hospitals to gradually lay a foundation for development in scale.With the implementation of group management and control of hospitals, the core capabilities of disciplines, operations and services have been gradually improved to lay the groundwork for sustainable growth trends in the medical business. In the first half of 2022, facing with the frequent outbreaks and pandemic rebound in certain cities, its medical institutions made proactive response to the relevant requirements of the government regarding pandemic prevention and control by undertaking a great number of nucleic acid testing and vaccination tasks. Under the temporary operation pressure of staff shortage and increasing costs for pandemic prevention and control, the Group maintained overall stable profitability in the first half of 2022 through measures such as increasing volunteer medical consultation and featured services to boost business volume and reinforce refined operation.In terms of consolidated revenue, in the first half of 2022, the hospital group business (excluding hospital investment platforms) recorded revenue of RMB2,721.1 million during the consolidation period, representing an increase of 28.4% as compared to the corresponding period of the previous year, mainly due to the consolidation of additional medical institutions during the period, and recorded profit for the period of RMB112.6 million, representing an increase of 13.7% as compared to the corresponding period of the previous year. The gross profit margin from operations was 12.1%, and net profit margin was 4.1%.In terms of operations, in the first half of 2022, the Group consolidated the accounts of six additional medical institutions with a capacity of 2,507 beds in total; the total number of medical treatments in the 51 consolidated medical institutions of the Group was approximately 5,446,000, representing an increase of approximately 52.2% as compared to the corresponding period of the previous year. The number of outpatient and emergency visits amounted to approximately 4,951,000, representing an increase of approximately 57.1% as compared to the corresponding period of 2021, which was mainly attributable to the significant increase in the outpatient visits for nucleic acid test during the first half of 2022. Without taking into account of the impact of nucleic acid visits, the number of outpatient and emergency visits still outperformed that of the corresponding period of the previous year by approximately 6%. The number of inpatient visits based on discharges amounted to approximately 160,000, remaining basically in line with that of the corresponding period of 2021, which was mainly due to the frequent outbreaks of covid-19 pandemic across the country during the first half of 2022. Meanwhile, with the continuous expansion of the medical examination business operated by its medical institutions, the number of visits for medical examination reached approximately 495,000 in the first half of 2022, representing an increase of approximately 15.9% as compared to the corresponding period of 2021. The revenue of hospital operation of the 51 consolidated medical institutions for the first half of 2022 reached RMB2,694.9 million in total, representing an increase of approximately 8.8% as compared to the corresponding period of the previous year, and the overall income per bed of the consolidated medical institutions was approximately RMB420,000 on an annualised basis.Following the integration and takeover of medical institutions of SOEs since 2017, the Group continued to empower the development of the hospitals and took active and effective measures in response to external factors such as the pandemic and reforms. In the future, in order to serve the national healthcare initiative and in the trend of high-quality development of the medical industry, the Group will give full play to the competition advantages of central state-owned enterprises in running medical care by reinforcing group management and control and upgrading professional operation, further improving the operating efficiency of medical institutions.Meanwhile, by fostering hospital group, the Group will also further build replicable advantages in terms of hospital operation management, life cycle management of medical equipment, supply chain management, infrastructure management and digital services, expand the market presence in addition to the health conglomerate and cultivate the new service mode featured with the integration of industry and finance, so as to promote quality and efficiency enhancement for external hospital customers and create new growth drivers for the Company.The Interest Income of Financial Business Increased by 5.7% under the Efforts to Overcome the Impact of Ongoing PandemicIn the first half of 2022, the Group strived to overcome the impact of ongoing pandemic. With risk control as a top priority, the Group were committed to ensuring quality project development for its customers, with an aim to ensure safe and healthy development of the finance business. By keeping abreast of the market changes, the Group strived to control financing costs with a flexible approach to meet investment capital requirements. In the first half of 2022, the finance and advisory business of the Group recorded a revenue of RMB2,987.8 million in total, representing an increase of 3.4% as compared to the corresponding period of the previous year, of which the interest income amounted to RMB2,391.1 million, representing an increase of 5.7% as compared to the corresponding period of the previous year. All business indicators continued to maintain a good level. The average yield of interest-earning assets was 7.46% and the average cost rate of interest-bearing liabilities was 3.71%, while the net interest margin was 3.75% and the net interest spread was 4.16%.While its finance business continued to expand steadily, the Group continued to optimize the dynamic management of pre-rental, rental, and post-rental process, and enhanced accountability to ensure its asset quality remaining at an industry-leading level. As of 30 June 2022, its net interest-earning assets reached RMB65,804.8 million, representing an increase of 7.7% as compared to the end of 2021; the non-performing asset ratio was 0.98%; the overdue ratio (30 days) was 0.82%, and the provision coverage ratio was 242.96%.While keeping a controllable risk profile, the Group will continue to facilitate steady development of the finance leasing business in the fields of public hospitals and urban public utility. Leveraging on the core businesses of the central state-owned group and in an active response to the national policies, the Group will continue to foster and expand innovative businesses. The Group will explore a development model featured with the integration of finance business and medical care industry so as to lay a solid foundation for the high-quality development of a central state-owned and listed enterprise and achieve a leapfrog growth in the operating results.About Genertec Universal Medical Group Co LtdGenertec Universal Medical Group Co., Ltd. ("Universal Medical"; 2666.HK) is a publicly listed state-owned enterprise committed to China's healthcare industry. China General Technology (Group) Holding Co Ltd., one of the backbone SOEs directly supervised by the central government is the controlling shareholder of the Company. Universal Medical focuses on the fast-developing healthcare industry in China, with medical services as the core and financial business as the foundation. The Company harvests modern management concepts, professionals, quality medical resources with solid financial strength, and an inclusive corporate culture. Altogether it strives to build a reliable healthcare conglomerate and develop a healthcare ecosystem that all can mutually share and benefit. The Company owns 63 medical institutions, distributed in 14 provinces and municipalities such as Shaanxi, Shanxi, Sichuan, Liaoning, Anhui, Hebei, Beijing, and Shanghai, including 5 Grade III Class A hospitals and 29 Grade II hospitals, with a total of more than 16,000 beds. In the future, Universal Medical will continue to grasp opportunities posed by China's healthcare sector, actively respond to the "Health China" program and make contributions to China's public health industry. Please visit https://en.umcare.cn/.This press release is released by PEANUT MEDIA LIMITED on behalf of Genertec Universal Medical Group Company Limited.For further information, please contact:PEANUT MEDIA LIMITEDLu Jing / Jing GaoDirect Line: +86-755-61619798 +8210Email: hswh@czgmcn.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)