GUSHENGTANG (02273) announces its interim results, with adjusted profits increasing by 45.3% year-on-year.

On August 20th, GUSHENGTANG (02273) announced its interim financial results for the period ending June 30, 2024. The company achieved a revenue of 1.365 billion yuan in the first half of this year, a year-on-year increase of 38.4%. The revenue growth was mainly driven by the increase in income generated from providing medical health solutions, with revenue from this segment increasing by 39.3% to approximately 1.345 billion yuan. Adjusted net profit surged by 45.3% to approximately 148 million yuan. The gross profit was about 401 million yuan, representing a 41.8% increase year-on-year, with gross profit from providing medical health solutions increasing by 42.4% to around 396 million yuan, in line with the revenue growth. The announcement stated that during the reporting period, under the "self-built + mergers and acquisitions" dual-wheel driving strategy, GUSHENGTANG established four offline medical institutions, including the Shanghai GUSHENGTANG Changfeng TCM Clinic, Suzhou Wujian GUSHENGTANG TCM Clinic, Wenzhou Lucheng GUSHENGTANG Danan TCM Clinic, and Wuxi GUSHENGTANG Shangmadun TCM Hospital. Additionally, the company acquired ten institutions including Kunshan Laien, Baozhongtang Singapore, and Beijing Asia Olympic Village TCM Hospital. As of June 30, 2024, all of these medical institutions have already commenced operations.