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Public company info - Rici Healthcare Holdings Limited , 01526.HK

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Rici Healthcare Holdings Limited, 01526.HK - Company Profile
Chairman Fang Yixin
Share Issued (share) 1,590,000,000
Par Currency U.S. Dollar
Par Value 1.0E-4
Industry Medical Equipment & Services
Corporate Profile Business Summary: The Group is principally engaged in the provision of general hospital services, specialty hospital services and medical examination services in the People’s Republic of China (“PRC”). Performance for the year: revenue for the year ended December 31, 2019 amounted to RMB1,726.2 million, representing an increase of 25.6% from RMB1,373.9 million for the year ended December 31, 2018; gross profit for the year ended December 31, 2019 amounted to RMB484.0 million, representing an increase of 25.3% from RMB386.2 million for the year ended December 31, 2018; loss attributable to owners of the Company for the year ended December 31, 2019 amounted to RMB69.2 million, as compared to loss attributable to owners of the Company of RMB53.8 million for the year ended December 31, 2018. Business Review General Hospital Business Nantong Rich Hospital is the medical center in the southeast area of Nantong and the only high-graded general hospital in Nantong Economic and Technological Development Zone. The expansion project of its Phase II is progressing as scheduled in an orderly manner. Nantong Rich Hospital commenced operation in 2002, and it has been a Class III Grade B private general hospital (one of the three Class III hospitals in Nantong), a designated hospital for medical insurance reimbursement and a National Standardized Medical Residency Training Coordination Bases (國家級住院醫師規範化培訓協同基地). As of December 31, 2019, it had 268 doctors, 116 medical technicians and 434 nurses. Nantong Rich Hospital attaches importance to clinical research and development, and has one National Key Clinical Discipline (pediatric surgery) (國家臨床重點專科(小兒外科)), five Municipal Key Clinical Disciplines (市級臨床重點專科) (including pediatrics, orthopedics, cardio-thoracic surgery, cardiovascular medicine and nursing (pediatrics)), one Municipal Key Discipline Under Construction (市級重點建 設專科) (obstetrics and gynecology) and one Municipal Key Discipline under Construction (市級重點建設學科) (pediatrics general medicine). In 2019, Nantong Rich Hospital vigorously carried out 15 new technology researches and new projects at national, provincial and municipal levels, 19 ongoing research projects and published 15 papers in Science Citation Index journals, international journals and core journals. During 2019, it also continuously encouraged in-depth cooperation with top scientific laboratories and professional groups in China. For 2019, the numbers of outpatient and inpatient visits in Nantong Rich Hospital were 366,821 (2018: 335,552) and 26,352 (2018: 22,528), respectively, representing an increase of 9.3% and 17.0% as compared with last year, respectively. The Group established Nantong Rich Hemodialysis Center and Nantong Meidi, leveraging on the medical resources of Nantong Rich Hospital. Featuring “a combination of medical treatment and elderly care”, Nantong Meidi focuses on providing high-end elderly care services to the elderly with disability and dementia. As of December 31, 2019, served 106 elderly people with full occupancy. The customer composition was further optimized as compared with 2018. Nantong Rich Hemodialysis Center commenced operation in September 2018, with an aim at providing customized and scientific dialysis solutions as well as independent and professional healthcare management services to patients with nephropathy, so as to improve their life quality and survival rate. During 2019, the business of the hemodialysis center recorded rapid growth and it provided dialysis treatment 13,469 times (as of December 31, 2018: 1,998). Medical Examination Business The group‘’s medical examination business focuses on optimizing its medical technology and management to heighten the barrier. Through technical modification, equipment upgrading, joint training and medical supervision and monitoring, medical technical level, customer service satisfaction level and operation quality of the medical examination centers were improved significantly. In 2019, the brand for ultra-high net worth individuals that adopted the highest standard equipment, “MEDIC International Medical Examination (幸元會國際健康體檢)” under The group‘’s medical examination business was launched, marking the start of dual-brand operation of The group‘’s chain medical examination business. Nanjing MEDIC (南京幸元會) commenced operation in the fourth quarter of 2019. As of December 31, 2019, the Group had 59 medical examination centers in China (as of December 31, 2018: 55), representing a year-on-year growth of 7.3%, among which 51 centers were in operation (as of December 31, 2018: 44), representing a year-on-year growth of 15.9%, covering 28 cities. Their presence mainly concentrated on first tier and second tier cities. During 2019, the total number of visits of customers under The group‘’s medical examination business was 2,306,195 (2018: 1,948,973), representing a year-on-year increase of 18.3%. During 2019, the numbers of corporate and individual customers increase 17.2% and 24.0%, respectively. The average spending per capita of individual customers experienced successive growth through 2017 to 2019, increased by 3.3% compared to 2018 in 2019. Specialty Hospital Business The group‘’s specialty hospital business (“Rici OGP Segment”) is the youngest segment of the Group’s business. The three OGP hospitals under the segment are currently located in Shanghai, Changzhou and Wuxi, respectively, all of which are situated at prime locations. Leveraging on the established medical experience of the Group, the hospitals aim at providing high-end professional OGP services. Rici OGP Segment established strategic cooperations with the Children’s Hospital of Fudan University (復旦大學附屬兒科醫院), the Obstetrics and Gynecology Hospital of Fudan University (復旦大學附屬婦產科醫院) and Children’s Hospital of Shanghai (上海市兒童醫院), with three main specialties in gynecology, obstetrics and pediatrics as well as medical-graded maternity care center which is rare in the market, achieving a 24-hour medical linkage and providing attentive N-to-1 services to customers. Changzhou Rich Hospital provides OGP, general medicine and Chinese medicine services, and is qualified as a designated medical institution for public medical insurance reimbursement. In 2019, Changzhou Rich Hospital served a total of 1,182 inpatients and 22,265 outpatients. There are obstetrics, gynecology and pediatrics departments and an international department with an ancillary maternity care center in Rici Shuixian. In 2019, the numbers of outpatient visits and inpatient visits amounted to 5,887 and 279, respectively, in Rici Shuixian. Wuxi Rich OGP Hospital commenced operation in June 2019 and provides OGP services with an ancillary maternity care center. In 2019, Wuxi Rich OGP Hospital served a total of 950 outpatients and 95 inpatients. Prospects: As Nantong Rich Hospital enters its 20th anniversary, its expertise continues to strengthen. The hospital establishes close cooperations with various top hospitals and professional teams in China to provide more advanced medical services to its patients. On top of improving its predominant disciplines, the hospital will focus on establishing six centers in geriatrics, encephalopathy, cardiology, oncology, orthopedics and OGP, in order to combine medical treatment, scientific research and education. The core competitive strength of Nantong Meidi is its high-quality care services and unique advantage on medical resources. It will continue to focus on care of elderly with disability and dementia, achieving maximum economic benefits per bed by ongoing optimization of customer composition. Nantong Rich Hemodialysis Center will further leverage on the synergy with Nantong Rich Hospital to provide patients with kidney diseases with customized vascular access maintenance solutions. Moreover, advantage of Nantong Rich Hospital on its location has become apparent. The Shanghai-Nantong railway, the construction of which is expected to be completed in the near future, will connect Nantong to Shanghai’s one-hour living circle, and the new airport in Nantong will become an important integral part of the global aviation hub of Shanghai. As a pioneer of private general hospitals in China, Nantong Rich Hospital will closely follow the national medical system reform to provide the people with better medical treatment experience. Private medical examination still has substantial growth potential in the future, as the penetration rate of medical examination in China still has relatively large room for growth compared to that in developed countries. Besides, the current market size of private professional medical examination institutions is still small compared to public medical examination institutions. Furthermore, as the supervision on the medical examination industry from the public strengthened in recent years, the public now has higher requirements on medical safety and quality control, leading to enhanced entry barriers and providing better development environment for medical examination institutions with strict quality control systems. Medical examination is also an entry point in the offline medical market with huge development potential. In 2020, the examination centers under The group‘’s medical examination business will continue their plan of focusing on the Yangtze River Delta and developing the Greater Bay Area market, periodically extending their presence in the key cities located in the regional centers. Rici will strictly control the quality of its medical examination services, strive to increase the productivity of each medical examination center and improve working efficiency of its employees, in order to become the leading brand of mid- to high-end medical examination in China. Despite the overall decrease of birth rate in China, the increase of residential income level has led to rising demands for high-end OGP services in first and second tier cities. Rici OGP Segment will, on one hand, continue to cooperate with wellknown domestic and foreign hospitals, providing a service platform for patients to receive healthcare services provided by renowned local and foreign OGP doctors, and on the other hand, introduce advanced clinical technology and technique and selectively provide treatments for hard-to-treat diseases. Among the three hospitals under Rici OGP Segment, Rici Shuixian will become the flagship hospital, providing a talent nurturing platform and a technical support platform for OGP. In 2020, the Group will continue to facilitate the three OGP hospitals in various ways to rapidly increase their revenue and steadily cultivate their brand reputation.

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