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    2138   KYG3037S1021

EC HEALTHCARE

(2138)
  Report
Delayed Hong Kong Stock Exchange  -  03:08:04 2023-02-09 am EST
8.860 HKD   +0.80%
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EC Healthcare expects a record-high semi-annual sales volume in first half of FY23 of no less than HK$1.8 billion, Represents no less than 17% Y-o-Y increase

10/16/2022 | 08:57pm EST

HONG KONG, Oct 17, 2022 - (ACN Newswire) - - EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce that the Group expects to achieve a record-high semi-annual sales volume from April to September 2022 (the "Reporting Period").

The demand on medical services provided by the Group remains strong and the Group's business demonstrate resilience and momentum backed by the Group's diversified business. The Board expects the Group to achieve a record-high semi-annual overall sales volume of no less than HK$1.8 billion for the Reporting Period, representing a no less than 17% y-o-y increase. The Group expects to achieve a no less than 30% y-o-y increase for medical services sales volume. Sales volume of other services rose by no less than 95% y-o-y, mainly driven by the acquisition of veterinary businesses.

Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, EC Healthcare is always committed to building a diversified healthcare ecosystem to maximize customers' lifetime value. Hong Kong resident now progressively building a herd immunity barrier with a population the cumulative number of reported cases of 5th wave of COVID-19 has reached over 181 million, population completed the third vaccine dose was at approximately 80.2% as of 13 October 2022. The steady recovery in local consumer sentiment is expected to benefit the Group's business. Looking ahead, the Group is optimistic about its business development as the Hong Kong government's pandemic policy stance is heading towards "Normalization" and recently further relaxed quarantine arrangements for inbound travelers, further boosting the market sentiment. The Group will continue to expand its businesses through organic growth as well as mergers and acquisitions, leveraging investment in IT, brand and service to enrich the Group's enclosed diversified ecosystem. The Group will further enhance the resilience and ability to resist economic cyclical changes and further consolidate the healthcare market."

About EC Healthcare

EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.

The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021

For further information, please contact:

iPR Ogilvy Limited

Callis Lau / Lorraine Luk / Tim Tin / Sophia Wu

Tel: (852) 2136 6952 / 2169 0467 / 3920 7654 / 3920 7645

Fax: (852) 3170 6606

Email: ech@iprogilvy.com

Copyright 2022 ACN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2023 3 793 M 483 M 483 M
Net income 2023 229 M 29,1 M 29,1 M
Net Debt 2023 - - -
P/E ratio 2023 46,3x
Yield 2023 1,37%
Capitalization 10 418 M 1 327 M 1 327 M
Capi. / Sales 2023 2,75x
Capi. / Sales 2024 2,19x
Nbr of Employees 2 557
Free-Float 38,7%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 6
Last Close Price 8,79 HKD
Average target price 10,18 HKD
Spread / Average Target 15,8%
EPS Revisions
Managers and Directors
Lyn Wade Lu Co-Chief Executive Officer & Executive Director
Chi Fai Tang Chairman & Co-Chief Executive Officer
Heung Wing Lee Finance Director
Kun Shing Luk Non-Executive Director & Chief Information Officer
Tai Cheung Wong Chief Operating Officer
Sector and Competitors