Concord Medical Reports Financial Results for the First Half of 2025
Concord Medical (NYSE:CCM), a Chinese cancer treatment healthcare provider, reported its H1 2025 financial results showing mixed performance. Total net revenues decreased 8.3% to RMB200.6 million (US$28.0 million), with hospital business revenues increasing 11.1% to RMB153.0 million and network business revenues declining 41.3% to RMB47.6 million.
The company significantly reduced its losses, with net loss attributable to shareholders improving to RMB27.1 million (US$3.8 million) from RMB172.3 million year-over-year. Gross loss margin improved to 2.1% from 19.0%. The improvement was largely driven by the commencement of proton therapy operations at Guangzhou Concord Cancer Hospital and enhanced operational efficiency.
As of June 30, 2025, CCM maintained bank loans and borrowings of RMB3.6 billion (US$508.4 million), while capital expenditures decreased to RMB100.6 million from RMB168.4 million year-over-year.
Concord Medical (NYSE: CCM), un fornitore cinese di trattamenti oncologici, ha riportato i risultati finanziari del primo semestre 2025 con performance miste. I ricavi netti totali sono diminuiti 8,3% a RMB200,6 milioni (US$28,0 milioni), con i ricavi del settore ospedaliero in aumento 11,1% a RMB153,0 milioni e i ricavi della rete in calo 41,3% a RMB47,6 milioni.
L’azienda ha significativamente ridotto le perdite, con la perdita netta attribuibile agli azionisti che migliora a RMB27,1 milioni (US$3,8 milioni) da RMB172,3 milioni anno su anno. Il margine di perdita lorda è migliorato al 2,1% dal 19,0%. Il miglioramento è stato in gran parte trainato dall’avvio delle operazioni di protonterapia presso il Guangzhou Concord Cancer Hospital e dall’aumento dell’efficienza operativa.
Al 30 giugno 2025, CCM possedeva prestiti bancari e obbligazioni per RMB3,6 miliardi (US$508,4 milioni), mentre gli investimenti in capitale hanno diminuito a RMB100,6 milioni rispetto ai RMB168,4 milioni dell’anno precedente.
Concord Medical (NYSE: CCM), un proveedor chino de tratamientos contra el cáncer, presentó sus resultados financieros del primer semestre de 2025 con un desempeño mixto. Los ingresos netos totales cayeron un 8,3% hasta RMB200,6 millones (US$28,0 millones), con los ingresos del negocio hospitalario aumentando un 11,1% hasta RMB153,0 millones y los ingresos del negocio en red disminuyendo un 41,3% hasta RMB47,6 millones.
La empresa redujo significativamente sus pérdidas, con la pérdida neta atribuible a los accionistas mejorando a RMB27,1 millones (US$3,8 millones) desde RMB172,3 millones año tras año. El margen de pérdida bruta mejoró al 2,1% desde el 19,0%. La mejora se debió principalmente al inicio de las operaciones de protonterapia en el Guangzhou Concord Cancer Hospital y a una mayor eficiencia operativa.
A 30 de junio de 2025, CCM mantenía préstamos y deudas bancarias de RMB3,6 mil millones (US$508,4 millones), mientras que las inversiones de capital disminuyeron a RMB100,6 millones desde RMB168,4 millones interanual.
Concord Medical (NYSE: CCM), 중국의 암 치료 헬스케어 공급업체는 상반기 2025년 재무실적에서 혼합된 성과를 보고했습니다. 총 순매출은 8.3% 감소한 RMB2억6백만(미화 2800만 달러)이고, 병원 사업 매출은 11.1% 증가한 RMB1억5300만, 네트워크 사업 매출은 41.3% 감소한 RMB4760만으로 나타났습니다.
회사는 주주 귀속 순손실이 2720만 위안(미화 380만 달러)로 전년동기 대비 개선되었으며, 총손실률은 2.1%로 개선되었습니다(전년 19.0%). 이 개선은 주로 광저우 Concord Cancer Hospital의 양성자 치료 운영 시작과 운영 효율성 향상에 의해 주도되었습니다.
2025년 6월 30일 기준으로 CCM은 은행 대출 및 차입금 RMB36억((미화 5억84백만 달러)를 유지했고, 자본지출은 전년동기 대비 RMB100.6백만으로 감소했습니다(전년 168.4백만).
Concord Medical (NYSE: CCM), fournisseur chinois de traitements contre le cancer, a publié ses résultats semestriels 2025 avec une performance mixte. Le chiffre d’affaires net total a diminué de 8,3% pour atteindre RMB200,6 millions (US$28,0 millions), les revenus du secteur hospitalier augmentant de 11,1% à RMB153,0 millions et les revenus du réseau chutant de 41,3% à RMB47,6 millions.
L’entreprise a nettement réduit ses pertes, la perte nette attribuable aux actionnaires s’étant améliorée à RMB27,1 millions (US$3,8 millions) contre RMB172,3 millions d’une année sur l’autre. La marge brute de perte s’est améliorée à 2,1% contre 19,0%. Cette amélioration a été principalement tirée par le démarrage des activités de protonthérapie à l’hôpital Guangzhou Concord Cancer et par une meilleure efficacité opérationnelle.
Au 30 juin 2025, CCM maintenait des prêts et emprunts bancaires de RMB3,6 milliards (US$508,4 millions), tandis que les dépenses en capital ont diminué à RMB100,6 millions contre RMB168,4 millions en glissement annuel.
Concord Medical (NYSE: CCM), ein chinesischer Anbieter von Krebsbehandlungen, veröffentlichte seine H1 2025 Finanzkennzahlen mit gemischter Leistungsbilanz. Die Gesamtumsätze gingen um 8,3% auf RMB200,6 Mio. (US$28,0 Mio.) zurück, während die Umsätze im Krankenhausgeschäft um 11,1% auf RMB153,0 Mio. zulegten und die Umsätze im Netzsegment um 41,3% auf RMB47,6 Mio. einbrachen.
Das Unternehmen reduzierte die Verluste deutlich, wobei der nach Anteilen der Aktionäre zuzurechnende Nettogewinnverlust sich auf RMB27,1 Mio. (US$3,8 Mio.) verbesserte gegenüber RMB172,3 Mio. im Vorjahr. Die Bruttoverlustquote verbesserte sich auf 2,1% von 19,0%. Die Verbesserung wurde überwiegend durch den Start der Protonentherapie im Guangzhou Concord Cancer Hospital und eine gesteigerte operative Effizienz getrieben.
Zum 30. Juni 2025 hielt CCM Bankdarlehen und Verbindlichkeiten in Höhe von RMB3,6 Mrd. (US$508,4 Mio.), während die Kapitalausgaben auf RMB100,6 Mio. gegenüber RMB168,4 Mio. im Vorjahr zurückgingen.
Concord Medical (NYSE: CCM)، وهي مزود رعاية صحية صيني لعلاج السرطان، أصدرت نتائجها المالية للنصف الأول من عام 2025 محققة أداءً مختلطاً. انخفض إجمالي الإيرادات الصافية بنسبة 8.3% ليصل إلى 200.6 مليون ي RMB (28.0 مليون دولار أمريكي)، في حين ارتفعت إيرادات قطاع المستشفيات بنسبة 11.1% إلى 153.0 مليون يوان رنمينبي، وتراجعت إيرادات شبكة الأعمال بنسبة 41.3% إلى 47.6 مليون يوان رنمينبي.
قللت الشركة الخسائر بشكل ملحوظ، حيث تحسنت الخسارة الصافية العائدة للمساهمين إلى 27.1 مليون يوان رنمينبي (3.8 مليون دولار أمريكي) من 172.3 مليون يوان في العام الماضي. تحسن هامش الخسارة الإجمالية إلى 2.1% من 19.0%. ويُعزى التحسن بشكل رئيسي إلى بدء عمليات العلاج بالبروتون في مستشفى Guangzhou Concord Cancer Hospital وتحسن الكفاءة التشغيلية.
حتى 30 يونيو 2025، حافظت CCM على قروض بنكية وملتزمات تبلغ 3.6 مليار يوان RMB (508.4 مليون دولار أمريكي)، بينما انخفضت النفقات الرأسمالية إلى 100.6 مليون يوان من 168.4 مليون يوان على أساس سنوي.
Concord Medical (NYSE: CCM)，是一家中国肿瘤治疗医疗服务提供商，公布了2025年上半年的财务业绩，表现喜忧参半。总净收入同比下降8.3%，至人民币2.006亿元（约2,800万美元）；医院业务收入同比增长11.1%，至人民币1.530亿元；网络业务收入同比下降41.3%，至人民币4760万元。
公司大幅缩减亏损，归属于股东的净亏损由去年同期的人民币1.723亿元收窄至人民币2710万元（约合3830千美元）。毛损失率从19.0%降至2.1%。这主要得益于广州康复肿瘤医院质子治疗运营的启动以及运营效率的提高。
截至2025年6月30日，CCM的银行贷款及借款合计人民币36亿元（约5.084亿美元），同时资本支出较上年同期下降至人民币1.006亿元（此前为1.684亿元）。
- Net loss significantly improved to RMB27.1 million from RMB172.3 million year-over-year
- Hospital business revenue increased 11.1% due to new proton therapy operations
- Gross loss margin improved substantially to 2.1% from 19.0% year-over-year
- General and administrative expenses decreased due to improved operational efficiency
- Capital expenditures reduced by 40.3% to RMB100.6 million
- Total net revenues declined 8.3% to RMB200.6 million
- Network business revenue dropped 41.3% due to decreased demand
- Company still operating at a gross loss of RMB4.3 million
- Significant debt burden with RMB3.6 billion in bank loans and borrowings
Insights
Concord Medical's H1 2025 shows narrowing losses and improving efficiency despite revenue decline, with proton therapy operations showing promise.
Concord Medical's financial performance for H1 2025 presents a mixed picture with encouraging signs of operational improvement despite ongoing challenges. While total revenue declined by
The hospital business showed positive momentum with an
Most notably, the company reduced its net loss attributable to shareholders by
The company's disciplined approach to capital expenditure, which decreased from
While Concord Medical continues to operate at a loss, the substantial narrowing of this loss and the improving operational metrics suggest the company is making progress toward financial sustainability, particularly as its proton therapy operations mature. The strategic focus on specialized cancer treatments appears to be yielding clinical benefits, which could translate to improved financial performance if the company can continue to scale these services while maintaining cost discipline.
2025 First Half Highlights
- Total net revenues were
RMB200.6 million (US ) in the first half of 2025, representing a$28.0 million 8.3% decrease from total net revenues ofRMB218.8 million in the same period last year. Total net revenues included the net revenues from the hospital business ofRMB153.0 million (US ) and the net revenues from the network business of$21.4 million RMB47.6 million (US ).$6.6 million - Gross loss was
RMB4.3 million (US ) in the first half of 2025, compared to the gross loss of$0.6 million RMB41.6 million in the first half of 2024. The gross loss margin was2.1% for the first half of 2025, compared to19.0% for the same period last year. - Net loss attributable to ordinary shareholders in the first half of 2025 was
RMB27.1 million (US ), compared to$3.8 million RMB172.3 million in the same period last year. - Basic and diluted loss per share for Class A and Class B ordinary shares in the first half of 2025 were both
RMB0.21 (US ), compared to$0.03 RMB1.31 in the same period last year. - Adjusted EBITDA[2] was negative
RMB62.2 million (US ) in the first half of 2025, compared to negative$8.7 million RMB148.0 million in the same period last year.
[1] This announcement contains translations of certain RMB amounts into |
[2] Adjusted EBITDA is defined as net income/(loss) plus interest expenses, net, income tax expenses, depreciation and amortization and other adjustments. Other adjustments include foreign exchange loss, net, other income, net, gain on disposal of equity method investment, gain on disposal of subsidiaries, change in fair value of derivative liability, changes in fair value of short-term investments and gain on disposal of long-lived equipment. |
Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "The precision of proton therapy helps prevent long-term damage to critical functional areas—including the brain, heart, and rectum—while allowing clinicians to safely escalate radiation doses to target sites to improve efficacy in refractory cancers. With minimal impact on surrounding normal tissues, patients benefit from fewer side effects and faster recovery, making proton therapy an optimal treatment option in cases where balancing efficacy and safety is critical.
As the first proton therapy center in South mainland
These results highlight the clinical value of proton therapy in improving outcomes for challenging cancers while preserving function in critical organs. Looking forward, the Company will remain committed to advancing proton therapy, enhancing public understanding of precision radiotherapy, strengthening patient confidence, and expanding patient access to internationally advanced diagnostic and therapeutic technologies, innovative medications, and patient-centered care."
2025 First Half Financial Results
Net Revenues
Hospital Business
Net revenues from the hospital business were
Network Business
Net revenues from the network business were
Cost of Revenues
Hospital Business
Cost of revenues of the hospital business in the first half of 2025 was
Network Business
Cost of revenues of the network business was
Gross Loss and Gross Loss Margin
Gross loss from the operating business was
Operating Expenses
Selling expenses were
General and administrative expenses were
Capital Expenditures
Comparing to
Bank Loans and Other Borrowings
As of June 30, 2025, the Company had bank loans and other borrowings totaling
About Non-GAAP Financial Measures
To supplement the consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Concord Medical uses certain non-GAAP measures. Concord Medical presents the non-GAAP measure of adjusted EBITDA, which is defined in this announcement as net loss plus interest expenses, net, income tax expenses, depreciation and amortization and other adjustments. Other adjustments include foreign exchange loss, net, other income, net, gain on disposal of equity method investment, gain on disposal of subsidiaries, change in fair value of derivative liability, changes in fair value of short-term investments and gain on disposal of long-lived equipment. Furthermore, adjusted EBITDA eliminates the impact of items that the Company does not consider to be indicative of the performance of the network business and hospital business. The Company believes investors will similarly use adjusted EBITDA as one of the key metrics to evaluate its financial performance and to compare its current operating results with corresponding historical periods and with other companies in the healthcare services industry. The presentation of these additional measures should not be considered a substitute for or superior to GAAP results or as being comparable to results reported or forecasted by other companies. The non-GAAP measures have been reconciled to GAAP measures in the attached financial information.
About Concord Medical
Concord Medical Services Holdings Limited is a healthcare provider featuring a full cycle of premium oncology services including cancer diagnosis, treatment, education and prevention. The Company focuses on providing multidisciplinary cancer care in all aspects of oncology healthcare services in its cancer hospitals and equipping them with technologically advanced equipment such as the state-of-the-art proton therapy system. The Company is striving to improve the quality and accessibility of cancer care through its network of self-owned cancer hospitals and clinics as well as partnered hospitals across
Safe Harbor Statement
This announcement contains forward-looking statements. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions. Forward-looking statements are inherently subject to uncertainties and contingencies beyond the Company's control and based upon premises with respect to future business decisions, which are subject to change. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Concord Medical Services Holdings Co., Ltd. | |||||||||||
Consolidated Balance Sheets | |||||||||||
(in thousands) | |||||||||||
December 31, | |||||||||||
2024 | June 30, 2025 | ||||||||||
RMB | RMB | US$ | |||||||||
(Audited) | (Unaudited) | (Unaudited) | |||||||||
ASSETS | |||||||||||
Current assets | |||||||||||
Cash and cash equivalents | 216,224 | 177,389 | 24,763 | ||||||||
Short-term investment | 134,621 | - | - | ||||||||
Restricted cash, current portion | 20,758 | 20,216 | 2,822 | ||||||||
Accounts receivable, net | 51,168 | 57,360 | 8,007 | ||||||||
Prepayments and other current assets, net | 527,760 | 756,672 | 105,627 | ||||||||
Inventories | 33,441 | 13,691 | 1,911 | ||||||||
Total current assets | 983,972 | 1,025,328 | 143,130 | ||||||||
Non-current assets | |||||||||||
Property, plant and equipment, net | 3,704,325 | 3,684,147 | 514,287 | ||||||||
Right-of-use assets, net | 520,817 | 507,849 | 70,893 | ||||||||
Goodwill | 572,216 | 572,216 | 79,878 | ||||||||
Intangible assets, net | 292,142 | 273,976 | 38,246 | ||||||||
Deposits for non-current assets | 174,883 | 210,055 | 29,323 | ||||||||
Long-term investments | 472,166 | 457,016 | 63,797 | ||||||||
Other non-current assets | 5,867 | 2,878 | 402 | ||||||||
Total non-current assets | 5,742,416 | 5,708,137 | 796,826 | ||||||||
Total assets | 6,726,388 | 6,733,465 | 939,956 | ||||||||
LIABILITIES AND EQUITY | |||||||||||
Current liabilities | |||||||||||
Accounts payable | 199,394 | 112,190 | 15,661 | ||||||||
Accrued expenses and other liabilities | 846,194 | 904,149 | 126,214 | ||||||||
Income tax payable | 1,623 | 16,416 | 2,292 | ||||||||
Operating lease liabilities, current | 45,448 | 47,061 | 6,569 | ||||||||
Short-term bank and other borrowings | 649,680 | 611,708 | 85,391 | ||||||||
Long-term bank and other borrowings, current portion | 383,016 | 762,772 | 106,479 | ||||||||
Total current liabilities | 2,125,355 | 2,454,296 | 342,606 | ||||||||
Non-current liabilities | |||||||||||
Long-term bank and other borrowings, non-current portion | 2,693,693 | 2,267,655 | 316,554 | ||||||||
Deferred tax liabilities | 82,870 | 80,134 | 11,186 | ||||||||
Operating lease liabilities, non-current | 138,894 | 133,332 | 18,612 | ||||||||
Other long-term liabilities | 67,827 | 76,028 | 10,613 | ||||||||
Total non-current liabilities | 2,983,284 | 2,557,149 | 356,965 | ||||||||
Total liabilities | 5,108,639 | 5,011,445 | 699,571 | ||||||||
EQUITY | |||||||||||
Class A ordinary shares | 68 | 68 | 10 | ||||||||
Class B ordinary shares | 37 | 37 | 5 | ||||||||
Treasury stock | (7) | (7) | (1) | ||||||||
Additional paid-in capital | 2,169,693 | 2,230,839 | 311,413 | ||||||||
Accumulated other comprehensive loss | (77,349) | (70,404) | (9,828) | ||||||||
Accumulated deficit | (4,372,832) | (4,399,967) | (614,212) | ||||||||
Total Concord Medical Services Holdings Limited shareholders' | (2,280,390) | (2,239,434) | (312,613) | ||||||||
Noncontrolling interests | 3,898,139 | 3,961,454 | 552,998 | ||||||||
Total equity | 1,617,749 | 1,722,020 | 240,385 | ||||||||
Total liabilities and equity | 6,726,388 | 6,733,465 | 939,956 | ||||||||
Concord Medical Services Holdings Co., Ltd. | |||||||||||
Consolidated Profit & Loss | |||||||||||
(in thousands, except for number of shares and per share data) | |||||||||||
June 30, | |||||||||||
2024 | June 30, 2025 | ||||||||||
RMB | RMB | US$ | |||||||||
(Unaudited) | (Unaudited) | (Unaudited) | |||||||||
Revenues, net of business tax, value-added tax and related | |||||||||||
Hospital | 137,772 | 153,007 | 21,359 | ||||||||
Network | 81,038 | 47,608 | 6,646 | ||||||||
Total net revenues | 218,810 | 200,615 | 28,005 | ||||||||
Cost of revenues: | |||||||||||
Hospital | (173,963) | (157,192) | (21,943) | ||||||||
Network | (86,443) | (47,706) | (6,660) | ||||||||
Total cost of revenues | (260,406) | (204,898) | (28,603) | ||||||||
Gross loss | (41,596) | (4,283) | (598) | ||||||||
Operating expenses: | |||||||||||
Selling expenses | (24,975) | (21,006) | (2,932) | ||||||||
General and administrative expenses | (131,173) | (119,361) | (16,662) | ||||||||
Operating loss | (197,744) | (144,650) | (20,192) | ||||||||
Interest expense | (68,668) | (87,660) | (12,237) | ||||||||
Foreign exchange loss, net | (30,269) | (1,906) | (266) | ||||||||
Interest income | 5,990 | 4,574 | 639 | ||||||||
Change in fair value of derivative liability | (108,777) | - | - | ||||||||
Income from equity method investments | 6,070 | 7,477 | 1,044 | ||||||||
Gain on disposal of subsidiaries | 47,997 | - | - | ||||||||
Other expenses, net | 1,388 | (894) | (125) | ||||||||
Gain on disposal of equity method investment | - | 37,471 | 5,231 | ||||||||
Changes in fair value of short-term investments | 6,631 | - | - | ||||||||
Loss before income tax | (337,382) | (185,588) | (25,906) | ||||||||
Income tax expenses | 8,674 | (19,784) | (2,762) | ||||||||
Net loss | (328,708) | (205,372) | (28,668) | ||||||||
Net loss attributable to noncontrolling interests | (156,450) | (178,237) | (24,881) | ||||||||
Net loss attributable to Concord Medical Services Holdings | (172,258) | (27,135) | (3,787) | ||||||||
Loss per share for Class A and Class B ordinary shares | |||||||||||
Basic | (1.31) | (0.21) | (0.03) | ||||||||
Diluted | (1.31) | (0.21) | (0.03) | ||||||||
Weighted average number of class A and class B ordinary shares | |||||||||||
Basic | 131,053,858 | 131,053,858 | 131,053,858 | ||||||||
Diluted | 131,053,858 | 131,053,858 | 131,053,858 | ||||||||
Other comprehensive loss, net of tax of nil | |||||||||||
Foreign currency translation, net tax of nil | (6,273) | 6,945 | 969 | ||||||||
Total other comprehensive loss, net of tax | (6,273) | 6,945 | 969 | ||||||||
Comprehensive loss | (334,981) | (198,427) | (27,699) | ||||||||
Comprehensive loss attributable to noncontrolling interests | (156,450) | (178,237) | (24,881) | ||||||||
Comprehensive loss attributable to Concord Medical Services | (178,531) | (20,190) | (2,818) | ||||||||
Reconciliation from net income to adjusted EBITDA(*) (in RMB thousands, unaudited) | |||||||
For the six months ended | For the six months ended | ||||||
June 30, 2024 | June 30, 2025 | ||||||
Net loss | (328,708) | (205,372) | |||||
Interest expenses, net | 62,678 | 83,086 | |||||
Income tax expenses | (8,674) | 19,784 | |||||
Depreciation and amortization | 43,654 | 74,985 | |||||
Other adjustments | 83,030 | (34,671) | |||||
Adjusted EBITDA | (148,020) | (62,188) | |||||
EBITDA margin | -68 % | -31 % | |||||
(*) Definition of adjusted EBITDA: Adjusted EBITDA is defined as net loss plus interest expenses, net, income tax | |||||||
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SOURCE Concord Medical Services Holdings Limited
FAQ
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