According to the Zhitong Finance App, China Regenerative Medicine (08158) announced its 2023 interim results, with revenue of about HK$100 million, an increase of 16.04%; net profit of HK$12.762 million, an increase of 4.74 times over the previous year; profit of HK0.447 cents per share.
According to the announcement, the overall increase in revenue was mainly due to the increase in the number of Chinese customers visiting the Group Center and choosing various health and beauty services after the epidemic was lifted, even though sales of the Group's designated service provider (Changzhou Starry Sky Medical Beauty Clinic Co., Ltd.) slowed down.
The main reason for the increase in profit is the contribution of day care centers that began operating in November 2022; and compared with the same period last year, the Group Center's self-managed business increased in the first half of this year, rather than relying on designated service providers, and cost control was improved.