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Concord Medical Reports Second Quarter 2013 Financial Results
Date:8/12/2013

BEIJING, Aug. 12, 2013 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China and the parent of Chang'an Hospital, today reported its unaudited consolidated financial results for the second quarter ended June 30, 2013[1].

Second Quarter 2013 Highlights

  • Total net revenue, which consists of net revenues generated from the network business and hospital business, was RMB254.0 million ($41.4 million) in the second quarter of 2013, an 86.1% increase from RMB136.5 million in the second quarter of 2012.
  • Gross profit in the second quarter of 2013 was RMB105.2 million ($17.1 million), a 12.1% increase from RMB93.9 million in the second quarter of 2012.
  • Net income attributable to ordinary shareholders in the second quarter of 2013 was RMB29.1 million ($4.7 million), a 21.9% decrease from RMB37.2 million in the second quarter of 2012.
  • Basic and diluted earnings per American depositary share ("ADS")[2] in the second quarter of 2013 were both RMB0.65 ($0.11).
  • Adjusted EBITDA[3] (non-GAAP) in the second quarter of 2013 was RMB104.3 million ($17.0 million), a 11.3% increase from RMB93.7 million in the second quarter of 2012.
  • Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, stated, "We are very pleased with our revenue, gross profit and adjusted EBITDA growth in the second quarter of 2013 as we continue to scale our network business and make further strides in our efforts to develop into a branded specialty cancer hospital company in China."

    "Revenue in our network business grew approximately 6.7% in the quarter with gross margin of 59.7%, both of which were notable improvem
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    SOURCE Concord Medical Services Holdings Limited
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