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Concord Medical Reports Third Quarter 2011 Financial Results
Date:11/14/2011

as of December 31, 2010. The average period of sales outstanding for accounts receivable (also known as days sales outstanding) was 170 days in the third quarter 2011, up from 149 days in the second quarter of 2011 primarily due to higher accounts receivable balances with several parties.

As of September 30, 2011, the Company had bank credit lines of RMB2.1 billion ($323.8 million), of which RMB85.4 million ($13.4 million) were drawn down.

The Company believes that its existing cash and available bank borrowing capacity are sufficient to finance its capital investments in new facilities and working capital needs over the next 12 months.

First Nine Months of 2011 ResultsNet revenues were RMB336.0 million ($52.7 million)(A) in the first nine months 2011, up 21.4% from the first nine months 2010, primarily due to an increase in patient cases at existing centers and the centers we have added since last year.

Cost of revenues was RMB114.6 million ($18.0 million) in the first nine months 2011, up 25.5% from the first nine months 2010, primarily due to higher consumables and equipment maintenance charges in support of higher revenues.

Gross profit margin was 65.9% in the first nine months 2011 compared with 67.0% in the first nine months 2010. The lower gross profit margin was primarily due to the higher consumables and equipment maintenance charges as compared to the increase in net revenues.

Operating expenses, consisting of general and administrative expenses and selling expenses, were RMB73.5 million ($11.5 million) in the first nine months 2011, up 28.9% from RMB57.1 million in the first nine months 2010. The increase was primarily due to increases in office and travel expenses and higher selling expenses in support of higher revenues.

Operating income was RMB147.8 million ($23.2 million) in the first nine months 2011, up 15.3% from RMB128.2 million in the first nine months 2010.

Income tax expense
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SOURCE Concord Medical Services Holdings Limited
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