Gelonghui September 11?China Medical Group (08225.HK) announced that in view of the irresistible factors of COVID-19 's epidemic situation, all the company's academic activities at the beginning of 2022 had changed from offline to online, and there was still a certain gap between the effect of online academic research activities and that carried out offline, and there were also obstacles in patient case collection. Later, customers raised objections one by one and did not recognize the service effect. Draw lessons fromInOnline activity areaInIn the initial implementation stage and considering the long-term cooperation with customers, after discussion by the management and consulting with the board of directors, the financial staff alsoInThe company released its third-quarter results and wrote off some of the previously determined income during the annual pre-review period. Therefore, there is a significant difference between the quarterly results announcement dated November 14, 2022 and the income of the 2022 results announcement dated April 14, 2023. Since 2023, with the end of the COVID-19 epidemic, all offline academic activities have returned to normal. This irresistible factor no longer exists and there will not be significant fluctuations in income.

The management attaches great importance to the collection of accounts receivable, and the board of directors supervises the business process of income and accounts receivable throughout the process. strictly examine whether the business department makes a collection plan in accordance with the contract, service progress and customer credit rating, and whether each responsible person collects payment in accordance with the payment recovery plan. YesInThe accounts that fail to be collected on time shall be promptly required by the responsible department to send a letter for request and send someone to communicate and negotiate. YesInIrrecoverable, the board of directors not only analyzed and evaluated the provision of bad debts, but also discussed in detail in view of the special circumstances, and combined with the opinions of external legal advisers to analyze, formulate and deal with litigation issues. Draw lessons fromInDue to the irresistible factors of COVID-19 's epidemic, taking into account the actual situation and repayment ability of customers, the grace period for repayment will be adjusted from 30 days to 180 days in 2022. The epidemic will end in 2023.AfterThe grace period will be adjusted back to 30 days.

Since its listing, China Medical Group has been committed toInProvide services for drugs from research and development to marketing and early focusInDrug research and development (PDS), registration, pre-market clinical researchAfterStage by step focusInbe listedAfterClinical research, especially real-world clinical research (CHGRWS); listingAfterClinical research-driven marketing promotion service (CRSO) and specialist health care (CHGMYD) service. The main customers of our company are pharmaceutical manufacturers, which are made up ofInWith the continuous impact of the epidemic in the three years from 2020 to 2022, the medical business of the hospital was greatly impacted and affected.InThe state finance is focused on fighting the epidemic, resulting in a shortage of health insurance funds, the government expanding the scope of centralized procurement, affecting almost 90% of drugs; and associated drug manufacturers do not have enough funds to carry out clinical research activities. Our revenue has also been greatly affected. At present, our company makes full use of the geographical advantages of Hainan, a subsidiary of the Group, and makes use of the geographical advantages of Hainan as an international free trade port to gain new customers. Through Hainan as the first national real-world research platform, we can attract overseas customers to enter China quickly and provide customers withAfterRenewal of registration, clinical research, listingAfterA package of services to promote. In recent years, the policy of traditional Chinese medicine has continued to improve and encourage the inheritance and innovation of traditional Chinese medicine.InThe reform of evaluation and examination and approval of traditional Chinese medicine has been continued and innovated, and the examination and approval system of traditional Chinese medicine in line with the characteristics of traditional Chinese medicine has been improved. Focus on clinical research services of traditional Chinese medicine and become a leader in the industry.

The founder and chairman of the group, Mr. Guo Xia, and the directors, including Dr. Song Xuemei, Dr. Zhang Li, Dr. Ni Binhui and Dr. Guo Tong, all have a very good professional background and more than 20 years of industry experience.InDue to the temporary decline in business, some adjustments were made to employees, but in 2023, when the overall environment was relatively bad, the company still defied the trend and recruited a group of talented people to prepare for the explosive business growth of the group.