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Universal Medical Announces its 2015 Annual Results; Profit before Tax Achieved Remarkable Surge by 47.3%
Improving ability of medical technology services;
The Group's gross profit of clinical department upgrade services reached a yoy increase of 123.5%
HONG KONG, Mar 31, 2016 - (ACN Newswire) - The board (the "Board") of directors (the "Directors") of Universal Medical Financial & Technical Advisory Services Company Limited ("Universal Medical" or "the Company"; stock code:2666) is pleased to announce the audited consolidated annual results of the Company and its subsidiaries (together, the "Group") for the year ended 31 December 2015.
FINANCIAL HIGHLIGHTS
- For the year ended 31 December 2015, the revenue amounted to approximately RMB 2,193 million, representing an increase of 41.3% as compared with that of approximately RMB1,553 million for 2014.
- For the year ended 31 December 2015, profit before tax amounted to approximately RMB900 million, representing an increase of 47.3% as compared with that of approximately RMB611 million for 2014.
- For the year ended 31 December 2015, the net profit amounted to approximately RMB659 million, representing an increase of 44.2% as compared with that of approximately RMB457 million for 2014.
- As at 31 December 2015, the total assets amounted to approximately RMB23,658 million, representing an increase of 44.4% as compared with that of approximately RMB16,385 million as at 31 December 2014.
- As at 31 December 2015, the total shareholders' equity amounted to approximately RMB 5,881 million, representing an increase of 142.3% as compared with that of approximately RMB2,427 million as at 31 December 2014.
- For the year ended 31 December 2015, the return on equity was 15.85%.
- For the year ended 31 December 2015, the return on assets was 3.29%.
During 2015, facing the difficulty and challenge from the external economy, the Group seized the development opportunities of healthcare industry. With the strategic goal as an integrated healthcare services provider, the Group further developed the medical resources platform, extended the Group's industry chain, developed a new business model with a combination of industry and finance and continuously strengthened risk prevention and control and achieved stable and healthy growth in operating results. During 2015, the Group realized a revenue of RMB2,193 million, representing an increase of RMB641 million or 41.3% as compared to the previous year. Profit before tax amounted to approximately RMB900 million, representing an increase of RMB289 million or 47.3% as compared to the previous year. Net profit was RMB659 million, representing an increase of RMB202 million or 44.2% as compared to the previous year.
In 2015, the Group's gross profit was RMB1,309 million, increasing by RMB375 million or 40.2% as compared to last year. In particular, interest margin gross profit of finance lease business was RMB598 million, representing an increase of RMB162 million or 37.2% as compared to last year; gross profit of industry, equipment and financing advisory services was RMB586 million, representing an increase of RMB144 million or 32.5% as compared to last year; gross profit of clinical department upgrade services was RMB123 million, representing an increase of RMB67.89 million or 123.5% as compared to last year, and its gross profit as a percentage of total gross profit has increased from 5.9% in 2014 to 9.4% due to the further expansion of the Group's medical resources platform and the consistent improvement of the Group's medical technology services.
Improving medical technology service capability
The Group continued to strengthen its professional capabilities and expand its medical resources which considerably enhanced the Group's medical technology service capability. Focusing on Cerebral Vascular Accident ("CVA") prevention, screening and treatment, the Group introduced internationally advanced technology and managerial expertise and further optimized the clinical department upgrade business model that integrates specialists, technology, trainings, capital and equipment, and cooperated with experts and institutions in various fields of study to expand the CVA clinical department upgrade business model into other fields of major and difficult diseases in oncology, obstetrics and gynecology, and cardiology. The Group's improved abilities in providing medical technology services have allowed the Group to expand service chain and provide more extensive and in-depth clinical department upgrade services to more hospital customers.
Major breakthrough in strategic business
The Group has made a major breakthrough in the Group's hospital investment and management business. On 10 January 2016, the Group entered into a framework agreement with the First Affiliated Hospital of Xi'an Jiaotong University in connection with the joint establishment and operation of the International Land Port Hospital under First Affiliated Hospital with an aim to build a leading medical center of high standard in northeast China by establishing a medical management group and cooperating in construction and operation of International Land Port Hospital. On 10 December 2015, the Group entered into a framework agreement with Bengbu Municipal Government of Anhui province in respect of the joint development of healthcare institutions and elderly care industry. Both parties will cooperate with large local hospitals to launch various projects phase by phase and step by step in accordance with the local requirements on deepening healthcare system reform. Projects in other provinces are also well underway.
In hospital investment and management business, the Group firmly grasped the development opportunity in response to the State's call to widely adopt Public-Private Partnership("PPP") in public services sectors like healthcare, public health as well as elderly care, and would choose areas that have large population and good economic condition and need enhancement of medical supply capability and corporate with regionally leading hospitals through entrusted management, equity cooperation and other modes. Also, the Group will use those hospitals as the base and gradually penetrate the surrounding areas. Based on the concept of "the large guiding the small and the old guiding the new", the Group will establish regional medical management group with coordination mechanism and resource sharing.
At the same time, the Group would establish a long-term win-win cooperation model with the hospitals for a term of 20 to 30 years or a perpetual period. Through the introduction of capital, technology, talents, management philosophy and management mechanism to cooperative hospitals, the Group would comprehensively enhance the quality of their medical services and management. Through the operation and management of hospitals, the Group also benefit from the improvement of hospital services and share the interest generated by operating supply chain and related industries in a sustained, stable and reasonable way.
Continuous expansion of medical resources platform
In 2015, the Group's medical resources platform continued to expand. The Group has cooperated with more than 200 well-known medical experts from home and abroad, and established cooperative relationships with 13 internationally-renowned hospital management and consulting services companies, 11 well-known hospitals in Europe and America, 6 architectural design firms for hospitals and 4 international physician associations. Through strategic cooperation with internationally-renowned healthcare services institutions, the Group has gained rich experience in hospital management, grasped excellent hospital management methods, introduced advanced hospital design concepts and enhanced the Group's abilities in providing integrated healthcare services.
Progressive establishment of regional medical resources network centers
As of 31 December 2015, the number of the Group's hospital customers exceeded 1,200 covering 30 provinces in China. In order to achieve synergy of regional medical resources, the Group opened representative offices in center cities of 5 provinces including Shandong, Henan, Hunan, Sichuan and Shaanxi based on population, the number of hospitals, existing customer base as well as geographical coverage. By doing so, the Group established a medical resources network covering the whole country, and it also laid the ground for establishing regional medical groups featuring coordination and resources sharing.
Future Prospects
In the years to come, based on the guidance and support of national policies, the Group will firmly seize the golden opportunities in China's healthcare and elderly care market, focus on becoming a leading integrated healthcare services provider, constantly reinforce the Group's operating base, expand the Group's medical resources platform, steadily develop the Group's medical financing services, and make it the Group's steadily growing profit source and its cornerstone for innovation. The group will actively promote the its medical technology services with a focus on clinical department upgrade, and make it the Group's incubator of new profit source; vigorously advance the Group's hospital investment management business, and make it the Group's driving force of the rapid growth of its results. The Group will develop hospital digitalization services in a collaborative manner and contribute to the development of the cooperative hospitals that the Group invested and managed.
At the same time, the Group will continue to innovate integrated healthcare services model to achieve synergy of medical financing services, hospital investment and management, medical technology services and hospital digitalization, constantly optimize business value chain with combination of industry and finance and gradually achieve comprehensive optimization of the Company's business structure and financial structure, which will lay a solid ground for the sustainable development of the Group and create greater value for the Group's shareholders.
Sectors: Daily News, Healthcare & Pharm
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