On October 31, Yihua Health announced its third quarter performance report for 2018. The report showed that Yihua Health's third quarter operating income was 520 million yuan, up 8.33% year-on-year; net profit attributable to shareholders of listed companies 30.32 million yuan, down 38.16% year-on-year; after deducting non-recurring gains and losses, the net profit attributable to shareholders of listed companies was 28.23 million yuan, down 41.44% year-on-year.
It is worth noting that in the first three quarters of this year, Yihua’s healthy investment activities were “convergence†compared with previous years. The net cash flow from investment activities was -6.24 billion yuan, compared with -8.85 billion last year. Yuan, an increase of 29.47% year-on-year. This is also related to the cash flow pressure faced by Yihua Health. According to the third quarterly report, Yihua’s healthy liquid debt reached 4.555 billion yuan. In 2017, Yihua Health will transfer 100% equity of Aile Medical Devices (Shenzhen) Co., Ltd. to Wuhu 99 Equity Investment Partnership (Limited Partnership) in the form of cash of RMB 300 million.
In addition, in the third quarter of this year, Yihua Health has increased its capital for its “majorsâ€, Zhongkangkang and Daxie Selecon, which is of great significance to the main business of Yihua Health. In August of this year, Yihua Health decided to increase the capital of 300 million yuan to Zhongankang. After the capital increase is completed, the registered capital of Zhongkangkang will reach 500 million yuan.
On October 22, Yihua Health announced that its wholly-owned subsidiary, Daxie Xilekang, is planning to introduce strategic investors to increase capital and expand shares. It is estimated that the increase of funds will exceed 800 million yuan and not more than 2 billion yuan. The capital increase will not cause the company to lose control of Daxie Selecon.
Yihua Health, formerly known as Yihua Real Estate. After the successful acquisition of Daxie Xilekang and Zhongkangkang, in 2015, Yihua Health comprehensively transformed the health industry, and gradually built a core business based on medical pension service, medical institution operation and service, and old-age community operation and service. .
In terms of medical pension logistics services, this business has so far been the main source of income for Yihua Health. According to the 2017 annual report published by Yihua Health, the revenue from medical pension services accounted for 45.2%.
Among them, in the comprehensive medical logistics service, in 2014, Yihua Real Estate announced that it would acquire 100% equity of Guangdong Zhongankang Logistics Group Co., Ltd. for 720 million yuan. Zhongankang is the leading brand of domestic medical logistics services. According to the 2016 annual report, the number of hospitals provided by Zhongkang has exceeded 100. The capital increase in August this year once again shows the strength of Yihua Health's core business. In addition, in November 2017, Yihua Health also acquired a 60% stake in Hunan Ji Liye Management Co., Ltd. for cash of 75 million yuan. Jili Property is a well-known hospital logistics service provider in Hunan Province.
In terms of medical institution operations and services, Yihua Health has always maintained a large-scale "buy and buy". According to the semi-annual report released, as of the first half of 2018, there were 22 hospitals controlled or managed by Yihua Health, with nearly 10,000 administrative beds and more than 2,000 nursing beds.
Among them, the subsidiary Daxie Xilekang is the “major†of the acquisition. After the continuous acquisition of the hospital, Daxie Selecon has turned its finger to the Chinese medicine industry. In September this year, it successfully acquired Yiwu Sanxitang National Medicine Museum Chain Co., Ltd., Yiwu Sanxitang Chinese Medicine Health Center Co., Ltd., Yiwu Sanxi Traditional Chinese Medicine 65% of the shares of the institute.
In terms of pension, Yihua Health has always been adhering to the membership-based community care and services, and has a wholly-owned subsidiary, the Affinity Source Group. The layout of the Chinese medicine section, which is complementary to the industrial synergy effect of the middle and high-end pension community, forms a comprehensive medical operation mode and creates a new type of medical pension industry platform.
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