The board of directors of Genertec Universal Medical Group Company Limited is pleased to announce the annual results of the Company and its subsidiaries for the year ended 31 December 2020.
In 2020, while leading its medical institutions in various regions to actively and effectively devote to epidemic prevention and control, Universal Medical continued to firmly promote its development in the medical and healthcare sector, achieving growth in the annual operating results against headwinds. In 2020, the Company recorded a revenue of RMB8,521.2 million, representing an increase of 25.0% as compared to the previous year. Profit for the year was RMB1,813.9 million, representing an increase of 11.0% as compared to the previous year. Profit for the year attributable to owners of the parent was RMB1,647.5 million, representing an increase of 10.7% as compared to the previous year.
Hospital group continued to expand, with increased proportion of medical revenue
Hospital group is the essential resources of building a healthcare conglomerate. In 2020, Universal Medical continued to actively participate in the integration and takeover of medical institutions of SOEs, and build up a tightly-knit medical networks surrounding key regions and cities. As of 31 December 2020, the Company had entered into contracts in relation to takeover of 54 medical institutions (including 5 Grade III Class A hospitals and 27 Grade II hospitals) with actual capacity of over 15,000 beds in total. As of 31 December 2020, the Company had consolidated 38 medical institutions (including 3 Grade III Class A hospitals and 16 Grade II hospitals), with actual capacity of 9,699 beds.
In 2020, Universal Medical's income from hospital group business was RMB3,623.0 million, representing an increase of 77.0% over the previous year (mainly due to the revenue brought by newly consolidated medical institutions in 2020), which accounted for more than 42% of the total revenue of the Company. In the future, with the further business expansion and the improvement of core capabilities of the hospital group, it is expected that the proportion of the income from hospital group business would continue to increase.
Discipline construction was strengthened and technical strength was enhanced
In 2020, the Company adopted an overall approach of promoting core disciplines, characteristic disciplines and consumer disciplines by categories and with multiple measures. In terms of core disciplines, the Group clarifies that the development of a core discipline cluster should be prioritized including cardiovascular, orthopedics, obstetrics & gynecology, and neurology and neurosurgery, as a way to strive for building a technological highland with core clinical technology and the ability to cure intractable diseases. At the same time, in order to fully enhance development incentive of the core discipline centers within the Group, a complete internal training and cultivation system has been established. In terms of specialties, the Group identified the development of four specialties, namely digestive medicine, nephropathy, oncology, and rehabilitation medicine, and comprehensively establish a characteristic specialty operating system. In this way, the Group further integrated the advantageous resources of the hospital group's specialties, and laid a solid foundation for the promotion of the vertical management of the Group. In terms of consumptive healthcare service, pilot construction was completed in the stomatological hospital under Ansteel General Hospital, and a management mode for operating specialties that could be replicated and promoted has also been established. Meanwhile, a series of initial work such as the standardization of the physical examination center was completed to further cultivate new growth points of the hospital group.
Digital construction was enhanced to promote informatization upgrade
In the past year, the Company comprehensively implemented digital strategies. On the one hand, we consolidated the foundation for the information construction of the Group and hospitals, and fully launched the layout of data middle platform. On the other hand, we further enriched the connotation of the Internetbased health platform to fully support the digital development of the industry sector. At present, the upgrading and transformation of hospitals' co...
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