Capital expenditure of the network business was RMB33.8 million ($5.4 million) for the first quarter of 2013, compared with RMB36.0 million in the first quarter of 2012.
Selling expenses in the network business were RMB16.5 million ($2.7 million) for the first quarter of 2013, representing an increase of 106% from the first quarter of 2012. The increase was mainly due to selling expenses relating to our telemedicine and web business of RMB4.5 million ($0.7 million). The Company also incurred higher marketing and promotion expenses relating to newly opened centers.
General and administrative expenses in the network business were RMB20.8 million ($3.4 million), representing an increase of 22.9% from the first quarter of 2012. The increase was mainly due to general and administrative expenses relating to the telemedicine and web business of RMB2.1 million ($0.3 million).
Accounts receivable from the network business was RMB185.9 million ($29.9 million) as of March 31, 2013, as compared to RMB168.3 million as of December 31, 2012. The average period of sales outstanding for accounts receivable, or Days Sales Outstanding (DSO) was 155 days for the first quarter of 2013, as compared to 153 days for the fourth quarter of 2012.
As of March 31, 2013, the Company, not including Chang'an Hospital, had bank credit lines of RMB2,217 million ($357.1 million), of which RMB912.0 million ($146.8 million) was utilized.
During the first quarter of 2013, the Company handled 7,517 patient treatment cases and 71,084 patient diagnostic cases in the center network, representing a 4.4% decrease and 59.6% increase from the first quarter of 2012, respectively.
Hospital businessFinancial results of Chang'an Hospital were consolidated into our results of operations since the third quarter of 2012 after we consummated the acquisition of 52% equity interest in Chang'an Hospital. Net rev
|SOURCE Concord Medical Services Holdings Limited|
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