bullish
Hygeia Healthcare Group (6078 HK): Double-Digit Revenue Growth in 1H23; Business Expansion Continues
469 Views17 Nov 2023 19:38
SUMMARY
- In 1H23, Hygeia Healthcare Group (6078 HK) reported revenue growth of 15% YoY to RMB1,760 million, mainly driven by a 16% YoY growth in hospital business.
- Hygeia’s gross profit margin contracted 20bps YoY to 32.4%. Riding on 5.6x increase in government grant, operating profit jumped 33% YoY to RMB420M, leading to 320bps margin expansion to 23.9%.
- In July, Hygeia acquired Chang’an Hospital for RMB1,660 million. The acquisition will provide Hygeia with greater room to expand its business in the northwest region of the PRC.
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Tina Banerjee
Global Healthcare Analyst
- Hygeia Healthcare Group (6078 HK): Double-Digit Revenue Growth in 1H23; Business Expansion Continues17 Nov 2023
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