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Public company info - Genertec Universal Medical Group Company Limited , 02666.HK
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Genertec Universal Medical Group Company Limited, 02666.HK - Company Profile
Chairman Zhang Yichen
Share Issued (share) 1,892,000,000
Par Currency
Par Value 0.0
Industry Other Financials
Corporate Profile Business Summary: The Group is principally engaged in providing financing to its customers under finance lease arrangements, the provision of advisory services, sale of medical equipment, medical equipment leases under operating lease arrangements, and the provision of other services as approved by the Ministry of Commerce of the People’s Republic of China (the “PRC”) in Mainland China. Performance for the year: For the year ended 31 December 2019, the revenue amounted to approximately RMB6,815.6 million, representing an increase of 58.6% as compared with that of approximately RMB4,296.9 million for 2018. For the year ended 31 December 2019, the profit before tax amounted to approximately RMB2,211.9 million, representing an increase of 19.0% as compared with that of approximately RMB1,859.0 million for 2018. For the year ended 31 December 2019, the profit for the year attributable to ordinary shareholders of the parent amounted to approximately RMB1,488.7 million, representing an increase of 10.1% as compared with that of approximately RMB1,352.2 million for 2018. Business Review: The year of 2019 was a crucial year for the Group to construct a medical and health conglomerate, and push forward the implementation of strategic upgrading. In the past year, the Group’s hospital group continued to expand, the Group’s strategic layout of health industry chain became more visible, and the Group’s medical finance business developed steadily. The foundation for building an advanced medical and health conglomerate is coming into form. In 2019, the Group’s operating performance grew steadily. The Group’s revenue increased to RMB6,815.6 million, representing a year-on-year increase of 58.6%. The Group’s profit for the year increased to RMB1,634.4 million, representing a year-on-year increase of 21.0%. Profit for the year attributable to ordinary share holders of the Company increased to RMB1,488.7 million, representing a year-on-year increase of 10.1%. The Group’s assets recorded a sound growth with leading asset quality in the industry. Hospital Group Business Hospital group is the most essential part of building a medical and health conglomerate. In 2019, the Group successively entered into project cooperation contracts with Ansteel Group, Pangang Group, CEC, CR State Asset and Yang Quan Coal Industry through formation of joint ventures or open market bidding, and continued to actively participate in the integration and takeover of medical institutions of SOEs. The Group has been building up a tightly-knit medical network surrounding key regions and cities across China. The Group has comprehensively improved the medical technology, management efficiency and service capabilities of the Group’s hospitals by focusing on discipline construction, operation management, digitalization upgrading, supply chain management, hospital renovation and expansion, and the like. As at 31 December 2019, the Group had signed contracts in relation to takeover of over 40 medical institutions (including 5 Grade III Class A hospitals and over 20 Grade II hospitals), with an actual capacity of over 15,000 beds. The Group had consolidated the accounts of 24 medical institutions (including 3 Grade III Class A hospitals and 12 Grade II hospitals), with an actual capacity of 7,399 beds. The number of outpatient visits and discharged patients amounted to 3.86 million and 0.21 million in 2019, respectively, and the hospital operation recorded revenue of RMB3,203.9 million (excluding the operating data of Qianshan Hot Spring Sanatorium). Due to the different time from which these medical institutions’ accounts were consolidated into the Group’s financial statements, RMB1,860.5 million was recorded at revenue. In the meantime, the Group actively extended its health industry chain based on its hospital group. With respect to medical technology, the Group introduced the world’s leading medical device products, and effectively improved the medical technology of hospital customers. As to the Group’s medical digitalization business, based on the Group’s member hospitals, the Group focused on three key aspects, namely Internet-based healthcare services, smart hospital solutions, and medical big data and artificial intelligence services. By so doing, the Group continuously improved its Internet-based health platform and made great efforts to build an “online+offline” service model. Regarding supply chain management, focusing on the hospital business, the Group carried out construction and deployment of a medicine supply chain system and a management platform of transparent procurement of medical supplies; it also reviewed the use of drugs and medical consumables in each hospital, continuously improved business process and standardized the centralized procurement of regional pharmaceutical supply chains. Finance and Advisory Business The Group’s medical finance business, which is the cornerstone underpinning the Group’s steady development, mainly provides finance lease services for county-level public hospitals. In the past year, on the one hand, the Group continued to expand market development both in depth and width and continuously fortified its business foundation in the face of complicated and changing domestic and foreign financial environment and fierce market competition. On the other hand, the Group continued to strengthen risk control and actively adjusted its financing strategy, and achieved steady development of medical finance business. The Group’s advisory business includes industry, equipment and financing advisory services, and clinical department upgrade services for the prevention, treatment and rehabilitation of CVA and other major diseases with high prevalence. The Group relied on its expanding medical resource platform to improve partner hospitals’ medical technology service capabilities and management efficiency in accordance with specific stages of hospital operation and clinical department development’s characteristics. In 2019, the finance and advisory business recorded revenue of RMB4,768.6 million, increased by 14.5% as compared to the previous year; recorded gross profit of RMB2,842.2 million, increased by 10.5% as compared to the previous year. Finance lease business recorded revenue of RMB3,807.2 million, increased by 18.4% as compared to the previous year; recorded gross profit of RMB1,890.0 million, increased by 14.6% as compared to the previous year; the net interest spread was 3.24% and the net interest margin was 3.74%, a high ranking among domestic competitors. As at 31 December 2019, the Group’s leased asset reached RMB49,785.6 million, representing an increase of 12.5% as compared with the beginning of the year; non-performing assets ratio was 0.90%, maintaining its leading position of asset quality in the industry. Prospects: In the future, the Group will continue to focus on its strategic development direction in medical and healthcare sector and seize policy and market opportunities. Based on the concept of whole life cycle, the Group will strive to build a health industry closed loop centered on medical services and comprising medical finance, medical technology services, medical digitalization and industry chain extension businesses. The Group will actively explore medical and elderly care business, medical health insurance, medical engineering cooperation, regional inspection centers, logistics management and other sectors, and will continue to pool highquality resources in the industry, improve the layout of the industry, strive to build a leading medical and health conglomerate, and contribute to the construction of “Healthy China”.

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