Print Page     Close Window     

SEC Filings

20-F
IKANG HEALTHCARE GROUP, INC. filed this Form 20-F on 08/10/2018
Entire Document
 

Table of Contents

 

Year Ended March 31, 2018 Compared to Year Ended March 31, 2017

 

Net Revenues. Net revenues increased 29.4% to US$563.9 million in fiscal 2017 from US$435.7 million in fiscal 2016. This increase was primarily due to increases in revenues from our medical examination services, disease screening and dental care services.

 

·                  Net revenues from medical examination services increased 25.2% to US$451.0 million in fiscal 2017 from US$360.4 million in fiscal 2016. This increase was primarily due to a 15.8% increase in the number of customer visits for medical examinations,  reflecting increases in the number of both corporate customers and individual customers as a result of our sales efforts and expanded service capacity in more cities in China. The aggregate number of people who used our medical examination services increased to approximately 6,047,000 in fiscal 2017 from approximately 5,224,000 in fiscal 2016. The overall average price for our medical examination services slightly increased to RMB493 (equivalent to US$74) per person for fiscal 2017 compared to RMB464 (equivalent to US$69) per person for fiscal 2016.

 

·                  Net revenues from disease screening services increased 58.0% to US$55.2 million in fiscal 2017 from US$35.0 million in fiscal 2016, primarily due to (1) a 46.6%  increase in the number of people who used our disease screening services, reflecting customers’ growing health awareness which resulted in their selections to take additional tests for certain diseases other than the basic medical examination items, and (2) our increased sales efforts to develop our disease screening business. The number of people who used our disease screening services increased to approximately 1,427,000 in fiscal 2017 from approximately 974,000 in fiscal 2016.

 

·                  Net revenues from dental care services increased 100.3% to US$17.3 million in fiscal 2017 from US$8.6 million in fiscal 2016, primarily due to (1) an increase in the number of customers who used our dental care services as a result of enhanced brand awareness of our services, and (2) the increased number of our self-owned medical centers providing dental care services.

 

·                  Net revenues from other services increased 27.2% to US$40.4 million in fiscal 2017 from US$31.7 million in fiscal 2016, primarily due to increases in net revenues from our outpatient services and medical consultancy services attributable to our continued efforts to promote these services.

 

Cost of Revenues. Cost of revenues increased 24.2% to US$325.7 million in fiscal 2017 from US$262.1 million in fiscal 2016. Cost of revenues as a percentage of our net revenues increased to 57.7% in fiscal 2017 from 60.2% in fiscal 2016.

 

·                  Medical Consumables and Outsourced Services. Cost of revenues relating to medical consumables and outsourced services increased 25.3% to US$113.9 million in fiscal 2017 from US$90.9 million in fiscal 2016, primarily due to the continued growth of our medical examination and disease screening businesses and the rapid growth in our dental care business. Cost of revenues relating to medical consumables and outsourced services as a percentage of our net revenues slightly decreased to 20.2% in fiscal 2017 from 20.9% in fiscal 2016.

 

·                  Salaries and Benefits. Cost of revenues relating to salaries and benefits increased 26.5% to US$105.7 million in fiscal 2017 from US$83.5 million in fiscal 2016, primarily due to (1) an increase in the number of doctors and nurses as the number of our medical centers increased to 110 as of March 31, 2018 from 107 as of March 31, 2017, and (2) an increase in the salaries and benefits provided to doctors and nurses. Cost of revenues relating to salaries and benefits as a percentage of our net revenues decreased to 18.7% in fiscal 2017 from 19.2% in fiscal 2016.

 

·                  Rental and Office Expenses. Rental and office expenses increased 19.6% to US$76.7 million in fiscal 2017 from US$64.1 million in fiscal 2016, primarily due to the increase in the number of our self-owned medical centers to 110 as of March 31, 2018 from 107 as of March 31, 2017. Cost of revenues relating to rental and office expenses as a percentage of our net revenues decreased to 13.6% in fiscal 2017 from 14.7% in fiscal 2016.

 

·                  Depreciation and Amortization. Depreciation and amortization cost increased 24.6% to US$29.4 million in fiscal 2017 from US$23.6 million in fiscal 2016, primarily due to our purchase of new medical equipment in fiscal 2016 for our new medical centers, dental care services, and to enhance the service capacity of our medical centers. Cost of revenues relating to depreciation and amortization as a percentage of our net revenues slightly decreased to 5.2% in fiscal 2017 from 5.4% in fiscal 2016.

 

79



Copyright © 2015- iKang Healthcare Group, Inc. All Rights Reserved.