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    2138   KYG3037S1021

EC HEALTHCARE

(2138)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-10-03 am EDT
4.760 HKD   -2.46%
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EC Healthcare expects sales volume to increase no less than 17% Y-o-Y to no less than HK$860 million in the first quarter

07/25/2022 | 09:00am EDT

HONG KONG, Jul 25, 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 the sales volume for the first quarter to increase no less than 17% Y-o-Y to no less than HK$860 million.

To fulfill the strong demand for aesthetic medical and beauty and wellness services provided by the Group in Mainland China, in July 2022, the Group has opened two new service points in Shenzhen, with an aggregate newly leased gross floor area of approximately 12,400 square feet. The Group's total number of service points in Mainland China increased to 18.

Benefiting from the strong demand on medical services provided by the Group and as the impact of the fifth wave pandemic outbreak gradually fades, the overall consumption sentiment in Hong Kong improves with a full-fledged retail sector recovery. The Board expects to record a no less than HK$860 million sales volume, representing a no less than 17% y-o-y increase and a no less than 80% increase as compared with the same period in 2020; the Group's sales volume of medical services is expected to achieve a no less than 29% y-o-y increase for the Quarter and a no less than 158% increase as compared with the same period in 2020; for sales volume in those clinics and services centers located in Mainland China, the Group is expected to record a minor y-o-y decrease for no more than 6% for the Quarter, and a no less than 29% increase as compared with the same period in 2020.

Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, "Looking ahead, the Group is confident about the business performance given the gradual fading impact of the pandemic, the community immunity increased and the health consciousness rising. The Group is expected to operate the business in a stable market environment and the demand for medical services will remain momentum. As the leading healthcare services provider in Hong Kong, the Group will keep developing businesses through organic growth as well as mergers and acquisitions, leveraging our investment in information technology, branding and service to enrich the closed-loop healthcare ecosystem 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 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, primary care clinics jointly established with Tencent Doctorwork, chiropractic services centre New York Spine and Physiotherapy Center NYMG, health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, a comprehensive dental centre UMH DENTAL CARE, a diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic SPECIALISTS CENTRAL, NEW MEDICAL CENTER and Prime Medical Centres, obstetrics and gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, specialists central, a paediatric center PRIME CARE, cardiology center HONG KONG INTERNATIONAL CARDIOLOGY CENTER, PathLab Medical Laboratories, a professional hair care center HAIR FOREST, 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 / Charmaine Ip

Tel: (852) 2136 6952 / 2169 0467 / 3920 7649

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 3 737 M 476 M 476 M
Net income 2023 365 M 46,5 M 46,5 M
Net Debt 2023 - - -
P/E ratio 2023 16,6x
Yield 2023 4,41%
Capitalization 5 619 M 716 M 716 M
Capi. / Sales 2023 1,50x
Capi. / Sales 2024 1,20x
Nbr of Employees 2 674
Free-Float 38,8%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 6
Last Close Price 4,76 HKD
Average target price 11,64 HKD
Spread / Average Target 145%
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
Ka Ki Wong Executive Director & Chief Investment Officer
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