Medical Financial Services Continued to Maintain a Good Momentum; – Hospital Investment and Management Business Steadily Progressed
HONG KONG, Mar 27, 2018 – (ACN Newswire) – Universal Medical Financial & Technical Advisory Services Company Limited is pleased to announce that the audited consolidated annual results of the Company and its subsidiaries for the year ended 31 December 2017. The revenue amounted to approximately RMB3,419 million, representing an increase of 26.6% as compared with that of approximately RMB2,701 million for 2016. The profit before tax amounted to approximately RMB1,576 million, representing an increase of 30.7% as compared with that of approximately RMB1,206 million for 2016.
When it comes to future prospects, Mr. Guo Weiping, the Executive Director and Chief Executive Officer of Universal Medical said that, “The year of 2017 was a year in which the Group made progress while maintaining stability and made impressive achievements based on accumulated efforts. We have been adhering to the integrated development strategy. While continuing to consolidate the medical financial business, we have steadily promoted the implementation of hospital investment and management projects either under definitive agreements or under cooperation intentions, and reinforced operating foundations for each business segment. In 2018, the Group will stick to the established development strategy, actively respond to changes in the market conditions, and actively seize the industrial development opportunities brought by national policies”.
“The Group will continue to integrate internal and external quality resources, innovate business development models, and accelerate the business deployment all relevant sectors. Moreover, the Group will continue to improve the integrated medical service integrating medical finance, hospital investment and management, medical technical services and healthcare digitalization, and will strive to develop into a leading medical and healthcare conglomerate in China”, he added.
In 2017, the Group continued to reinforce its operating foundation and each of its business segments developed in a synergetic and orderly manner. Medical financial services continued to maintain a good momentum. Hospital investment and management business steadily progressed under favorable policies and the contents of its medical technology services were further enriched. Healthcare digitalization business also made preliminary progress. In 2017, the revenue of the Group was RMB3,419 million, representing an increase of 26.6% over the last year. Profit before tax was RMB1,576 million, representing an increase of 30.7% over the last year. Net interest margin continuously increased, asset size steadily enlarged and asset quality remained good.
After years of development and accumulation, leveraging strong background as a central state-owned enterprise, the Group gradually built up its unique competitive strengths including abundant domestic and overseas medical resources, extensive customer network, professional business development capability and complete project evaluation system, having laid a solid foundation for the Group to become a leading medical and healthcare conglomerate in China.
Vigorously Promoting Hospital Investment and Management Business: In 2017, the Group made the best use of its own resource advantages, actively seized the opportunities brought by policies, and made greater efforts to promote the development of hospital investment and management business. On the one hand, the Group steadily moved forward the implementation of the projects under definitive agreements and the materialization of proposed cooperative projects. On the other hand, the Group seized the opportunity offered by the reform policies in relation to the spin-off of state-owned enterprises’ hospitals and actively commenced negotiations and implementation of the consolidation of medical institutions of state-owned enterprises.
The Group continued to expand its medical finance business, strengthen its operating foundation and strive to achieve its development goals. In 2017, facing the increasingly fierce competition in the financial leasing market, the Group required its business teams to further strengthen the intensity of their operation in the relevant regions and continue to enhance business development, which enabled the Group to achieve a steady growth in assets and a sustained high return on interest-earning assets. At the same time, under the complicated domestic and overseas financial environment, the Group actively adjusted its financing strategies, optimized its debt structure, and worked hard to reduce cost rate of interest-bearing liabilities. Net interest margin continued to rise.
As always, the Group implemented prudent risk control procedures and stringent asset management measures, and asset quality remained in the leading position among the industry peers.
With the continuous enrichment of medical resources, the Group’s clinical department upgrade services were further expanded. The gross profit of the Group’s clinical department upgrade services reached RMB137 million in 2017, representing an increase of 5.0% over the previous year. With healthcare resources diversifying, the Group further expanded its clinical department upgrade services and continued to promote the upgraded and innovative service model of cerebral stroke departments by systematical trainings on technology in respect of prevention, diagnosis and treatment of cerebral stroke and disease management, and formulated plans tailored for the development needs of hospital customers, striving to help hospitals raise the level of cerebral stroke prevention and treatment.
Meanwhile, the Group has expanded the innovative model to other disciplines including ontology, gynaecology and obstetrics, cardiovascular department and rehabilitation. In October 2017, with the strong support of the Stroke Centre of Brain Disease Control Committee of the NHFPC, the Group successfully held Smile Stroke Conference and the 10th Sino-U.S. Cerebrovascular Disease Forum for the seventh consecutive year. The concept of cerebral stroke prevention, treatment and screening, advanced equipment and cutting-edge technologies were introduced to a number of county level hospitals in China.
Recently, the Group also entered into framework agreements on technical training for cerebral stroke prevention and control projects with the Health and Family Planning Bureau of Handan City, Hebei Province, the Health and Family Planning Bureau of Xinyang City, Henan Province, Nanfang Hospital of Guangdong Province, Zhuhai Branch of People’s Hospital of Guangdong Province (Central Hospital of Jinwan, Zhuhai City), Central Rehabilitation Hospital of Gansu Province, etc., continually promoting stroke prevention, screening and treatment capabilities of local healthcare institutions.
The Group grasped the opportunity of “Internet + healthcare” development, recruited talents in the field of healthcare digitalization at home and abroad, introduced advanced healthcare digital technology and experience in and outside China, and independently carried out the research and development of healthcare digital technology to provide hospital customers with customized and personalized Internet healthcare products.
Extract from the Asia Corporate News Network || Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.