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Public company info - Hua Xia Healthcare Holdings Ltd. , 08143.HK

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Hua Xia Healthcare Holdings Ltd., 08143.HK - Company Profile
Chairman -
Share Issued (share) 2,358,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Medical Equipment & Services
Corporate Profile Business Summary: The Group is principally engaged in the provision of general hospital services and pharmaceutical wholesale, distribution and pharmaceutical retail chain businesses in the PRC. Performance for the year: Revenue was approximately HK$269.515 million (2016: approximately HK$252.844 million), representing an increase of approximately 6.59% as compared with last year. The increase in revenue was mainly attributable to the inclusion of the revenue derived from Beijing hospital through acquisition of Glowing Smart Investment Limited in the aggregate amount of approximately HK$30,660,000 since 30 September 2016. Gross profit was approximately HK$129.362 million (2016: approximately HK$133.252 million), with the gross profit margin maintained at a similar level as the year ended 31 March 2016. The operating loss from the continuing operation was approximately HK$26.67 million (2016: approximately HK$25.751 million). Net profit attributable to owners of the Company was approximately HK$10.208 million (2016: netloss of approximately HK$43.372 million), representing an increase in the profit attributable to owners of the Company as compared with last year. Business Review: General hospital services During the year ended 31 March 2017, the Group operated four general hospitals in Chongqing, Jiaxing, Zhuhai, and Beijing respectively in the PRC, principally engaged in the provision of general hospital services, including but not limited to medical wards, surgical wards, cosmetic surgery, dermatology and medical checkup and examination. The management envisaged more diversified hospital services being readily available to satisfy various needs of the public in the next few years, from the common illness treatments to the treatments of special and difficult diseases. Therefore, the Group will continue to allocate resources to develop such services either from the Group's existing hospitals or through collaboration with strategic partners. Discontinued operation – Pharmaceutical wholesale, distribution and pharmaceutical retail chain businesses On 2 March 2017, the Group completed the disposal of its non wholly-owned subsidiaries, Wanjia Group Holdings Limited and its subsidiaries (the “Disposal Group”). The Group is no longer participated in pharmaceutical wholesale, distribution and pharmaceutical retail chain business in the PRC upon the completion date of distribution. As a result, the gain or loss from pharmaceutical wholesale, distribution and pharmaceutical retail chain business engaged by the Disposal Group have been classified as discontinued operation. During the year, revenue generated from discontinued operation was amounted to approximately HK$938.031 million. Prospects: The healthcare market has continued to expand in China and thenumber of private hospitals has increased. At the same time, theState Council has issued a number of important policies in support of the private investment in the diversified healthcare services. Specific medical services have been outlined to guide the further investment and development of social capitals, including individualized chronical disease management, general medicine and more. More importantly, the Group has seen that procedures and restrictions for the healthcare investment have been further eased off to lower down the entry barriers to developing innovative medical care and services in China which have been long considered the exclusion for the private enterprises. As 2020 is approaching, the needs to fulfill the promises of the accessible quality healthcare to the citizens of the country dictate the rapid and concrete actions by the both government and the industry, thus creating more opportunities for the Company. The management has full confidence about the Group's future development of taking the advantages of the present market trends and increasing financial support. The Group will continue to improve the service standard and technology in existing hospitals and provide medical services that are required by local communities according to market demand. The Group realise that with the government’s strengthening on the monitoring of medical market and the increasing requirements by the public for quality services, the Group must vigorously promote regulated operation, improve the governance standard in hospitals and highlight the differential operation philosophy and market strategy. At the same time, the Group is still seeking cooperation opportunities, which include hospital personnel training, distinguished specialised services and advanced medical technology. While the management continues to improve the services and revenue from the existing hospitals, the Group has actively explored the specific medical services to address the great needs of the market in combination with the cooperation with the leading healthcare training and research institutions in the world. Chronical disease treatment and management have become a priority because of the size of the market and high demand for quality technologies and services. The management has already planned to get involved in this area and the preliminary results have confirmed the value and potentials of further development. The Group believe 2017 will see to the fruition of the efforts in this direction.

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