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[STCN] Evergrande Health Experienced Ten-fold Increase in Half-Year Net Profits and Proposed to Open Ten Internet Community Hospitals in Second Half of This Year

 Date:2015.08.29   Publisher:STCN

Today, Evergrande Health (HK.0708) released its interim results for the first time. The data shows that as at June 30, 2015, the company had a turnover of 416 million yuan, and net profits of 120 million yuan, representing a significant year-on-year increase of 985.7%.

At the Interim Results Release Conference, Tan Zhaohui, Chairman of Evergrande Health Listed Company, said that in the blue sea of the health service market with a size of 8000 billion yuan, Evergrande Health will continue to maintain its fast “Evergrande speed”, and provide ordinary people in China with a larger range of more comprehensive medical health service.

According to Tan Zhaohui, the company will open 10 Internet community hospitals across China in the second half of this year, and build a number of distinctive Evergrande plastic surgery hospitals in various places including Hainan, Shanghai, Shenzhen and Chongqing to form a chain service network; the construction of the demonstrative special rehabilitation hospital is being accelerated; the pension business and the new international hospital is in the process of vigorous development, where the new international hospital will cooperate with world-famous medical colleges such as Harvard.

Ever since the entry of Evergrande, Evergrande Health has been developing rapidly. Its first Internet community hospital in China opened for business in Guangzhou on June 18, and Evergrande Wonjin Plastic Surgery Hospital, the first fully-Korean-based plastic surgery hospital in China, also opened for business on June 23. Different from the majority of health enterprises with undiversified and isolated business, the business scope of Evergrande Health covers various fields with the strongest current demand and largest potential, such as Internet community hospital, medical cosmetology and anti-aging, new international hospital, special rehabilitation, and pension, which will undergo large-scale and systematic development.

In addition, the 1-to-10 share split of Evergrande Health was officially implemented on August 25, which will significantly lower the transaction threshold. According to the closing price on August 24, the trading price of each board lot will theoretically reduce to 7310 HKD. The research report of China Securities points out that Evergrande Health has leveraged its platform advantages to achieve rapid development, and is a good role model for other business sectors of Evergrande; the research report of Guosen Securities believes that Evergrande Health has seized the high ground in the “Internet+” medical area, with huge room for future development.

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