Concord Medical Services Holdings Ltd. (CCM), a Chinese diagnostic imaging centers company, on Friday reported a wider net loss for the first-half, amidst wider foreign exchange loss, negative change in fair value of derivative liability, decline in income from equity investments, and above all, a drop in revenue.
For the six-month period to June 30, Concord Medical posted net loss of RMB172.258 million or RMB1.31 per share, wider than RMB90.985 million or RMB0.69 per share, registered for the same period last year.
Pre-tax loss stood at RMB337.382 million as against RMB233.761 million in 2023.
Foreign exchange loss soared to RMB30.269 million from the prior year's RMB2.444 million.
Change in the fair value of derivative liability was negative RMB108.777 million, compared with zero change in fair value of derivative liability a year ago.
Operating loss, however, narrowed to RMB197.744 million from last year's RMB214.025 million.
Revenue for the first half was RMB218.810 million, down from last year's RMB284.513 million.
Revenue from the Hospital segment decreased to RMB137.772 million from RMB158.707 million in 2023. The company said this is due to downsizing certain of its hospital business with lower profit margin.
The network segment revenue declined to RMB81.038 million from last year's RMB125.806 million.
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