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2026
中

期

報

告

新世紀醫療控股有限公司

（於開曼群島註冊成立的有限公司）
股份代號：01518

New Century Healthcare Holding Co. Limited

New Century Healthcare Holding Co. Limited
新世紀醫療控股有限公司

New Century Healthcare Holding Co. Limited
新世紀醫療控股有限公司
(Incorporated in the Cayman Islands with limited liability)
Stock Code: 01518

2026
INTERIM REPORT

股份代號 Stock Code: 01518

中期報告 2026 INTERIM REPORT

Contents
Corporate Information

2

Management Discussion and Analysis

4

Other Information

13

Report on Review of Interim Financial Information

20

Interim Condensed Consolidated Statement of
Financial Position

22

Interim Condensed Consolidated Statement of
Comprehensive Income

24

Interim Condensed Consolidated Statement of
Changes in Equity

25

Interim Condensed Consolidated Statement of
Cash Flows

26

Notes to the Interim Condensed Consolidated
Financial Information

27

Definitions

46

The English text of this interim report shall prevail over
the Chinese text in case of any inconsistency.

Corporate Information
DIRECTORS

NOMINATION COMMITTEE

Executive Directors:

Mr. JIANG Yanfu (Chairman)
Mr. WU Guanxiong
Ms. XIN Hong

Mr. Jason ZHOU (Chairman and
Chief Executive Officer)
Ms. XIN Hong (Senior Vice President and
Chief Operating Officer)
Mr. XU Han (Senior Vice President and
Chief Financial Officer)

Mr. XU Han
Mr. JIA Xiaofeng

Non-executive Directors:

COMPANY SECRETARY

Mr. WANG Siye (resigned on June 30, 2026)
Ms. LI Suyu
Mr. XIE Qiang
Mr. ZHAO Qin (appointed on April 20, 2026)
Mr. QIU Xiang (appointed on July 2, 2026)

Mr. JIA Xiaofeng

Independent non-executive Directors:
Mr. WU Guanxiong
Mr. SUN Hongbin
Mr. JIANG Yanfu
Dr. MA Jing
Mr. YANG Yuelin (re-designated as an independent
non-executive Director on April 20, 2026)

AUDIT COMMITTEE
Mr. SUN Hongbin (Chairman)
Mr. JIANG Yanfu
Mr. YANG Yuelin

REMUNERATION COMMITTEE
Mr. WU Guanxiong (Chairman)
Mr. YANG Yuelin
Dr. MA Jing

2

AUTHORIZED REPRESENTATIVES

New Century Healthcare Holding Co. Limited

HEADQUARTERS AND PRINCIPAL
PLACE OF BUSINESS IN CHINA
56 Nanlishi Road
Xicheng District
Beijing
PRC

PRINCIPAL PLACE OF BUSINESS IN
HONG KONG
Unit 603A, 6/F, Tower 1
Admiralty Centre
18 Harcourt Road
Hong Kong

REGISTERED OFFICE
c/o Walkers Corporate Limited
190 Elgin Avenue
George Town
Grand Cayman KY1-9008
Cayman Islands

Corporate Information (Continued)

CAYMAN ISLANDS PRINCIPAL
SHARE REGISTRAR AND
TRANSFER AGENT
Walkers Corporate Limited
190 Elgin Avenue
George Town
Grand Cayman KY1-9008
Cayman Islands

HONG KONG SHARE REGISTRAR
Computershare Hong Kong Investor Services Limited
Shops 1712–1716, 17th Floor
Hopewell Centre
183 Queen’s Road East
Wanchai
Hong Kong

LEGAL ADVISERS
Zhong Lun Law Firm LLP
4th Floor, Jardine House
1 Connaught Place, Central
Hong Kong

PRINCIPAL BANKER
Bank of China, Beijing Finance Street Sub-branch
2/F, Investment Square
No. 27 Finance Street
Xicheng District
Beijing

STOCK CODE
01518

AUDITOR

COMPANY WEBSITE

PricewaterhouseCoopers
Certified Public Accountants and
Registered Public Interest Entity Auditor
22/F, Prince’s Building
Central, Hong Kong

www.ncich.com.cn

2026 Interim Report

3

Management Discussion and Analysis
BUSINESS OVERVIEW AND OUTLOOK
Our Group’s business recorded a revenue of RMB249.0 million, representing a 18.2% YoY decrease when
compared to the same period in last year. Our revenue from medical services was RMB245.5 million,
representing a 18.4% YoY decrease, among which, the revenue from pediatric services recorded a 20.0%
YoY decrease to RMB204.6 million, accounting for 83.3% of the total revenue from medical services.
Our revenue from pediatric outpatient services recorded a 19.7% YoY decrease to RMB128.0 million.
The number of pediatric services outpatient visits was 70,699, representing a 19.7% YoY decrease. Our
revenue from pediatric inpatient services recorded a 20.1% YoY decrease to RMB64.3 million. The number
of pediatric services inpatient visits was 2,197, representing a 17.1% YoY decrease.
In the first half of 2026, our revenue from obstetric and gynecologic business recorded a 9.7% YoY
decrease to RMB40.9 million. Our revenue from obstetric and gynecologic outpatient services recorded
a 5.7% YoY increase to RMB24.3 million; the number of obstetric and gynecologic services outpatient
visits was 13,163, representing a 14.0% YoY decrease. Our revenue from obstetric and gynecologic
inpatient services was RMB16.6 million, representing a 25.6% YoY decrease. The number of obstetric and
gynecologic services inpatient visits reached 588, representing a 22.6% YoY decrease.
Being a leading private pediatrics, and obstetrics and gynecologic healthcare service provider in Beijing
as well as in China, we provide integrated medical services to customers in respect of pediatrics, and
obstetrics and gynecology, and we are characterized by providing comprehensive and in-depth pediatric
medical services. Revenue for the first half of 2026 decreased significantly compared to the same period
in 2025, primarily due to a decline in demand for pediatric and obstetric and gynecologic medical
services. The overall reduction in newborn population in recent years has led to a decrease year by year
in the infant population served by the Group. Additionally, the incidence of infectious diseases in internal
medicine in 2026 has markedly declined compared to the last year, resulting in significant reductions
in both outpatient and inpatient visits for pediatric internal medicine, with corresponding substantial
decreases in revenue. The reduced demand for pediatric infectious disease treatment has further
diminished customer willingness to renew membership and purchase commercial insurance. In response
to this situation, the Group has implemented tiered membership cards and long-term loyalty programs
across multiple hospitals.
The loss attributable to the owners of our Company amounted to RMB85.0 million for the six months
ended June 30, 2026, mainly attributable to the decline in demand for medical business in the first half
of 2026 and the significant increase in other losses resulting from the provision made for the expected
payment amount in connection with the freeze of certain bank accounts of the Group mainly relating to an
investigation by the Supervisory Committee.

4

New Century Healthcare Holding Co. Limited

Management Discussion and Analysis (Continued)

INDUSTRY OUTLOOK AND OUR GROUP’S STRATEGIES
The comprehensive development of healthcare services in respect of women and children has been highly
emphasized by the PRC. In September 2021, the State Council issued the “Outline on the Development
of Chinese Women (2021–2030)” and “Outline on the Development of Chinese Children (2021–2030)”,
which are of great significance in promoting the high-quality development of China’s women and children’s
healthcare business. The “Notice of the National Health Commission on Publishing the Implementation
Plan for the 2021–2030 Outlines for the Development of Chinese Women and Children” issued in April
2022 provides further guidance. China’s women and children’s health work still faces many challenges
such as insufficient total service resources, uneven distribution, and a shortage of high-quality resources.
Especially since the adjustment of the birth policy, the proportion of advanced age and multiparous
women has increased, the risk of complications, comorbidities, and birth defects during pregnancy have
increased, and the demand for newborn safety and child healthcare services has further increased,
triggering (i) a significant increase in the market demand for the provision of whole-cycle, whole-process
and all-round medical and healthcare services to women and children; and (ii) more stringent requirements
regarding medical service capabilities, service modes and service principle.
In order to further promote the refined management of medical insurance and boost the utilization
efficiency of medical insurance funds, the National Healthcare Security Administration published a
notice on November 26, 2021 regarding the “Three-Year Action Plan for DRG/DIP Payment Reform”, in
which it is stated that DRG/DIP Payment will be carried out in all planning areas in the PRC by the end
of 2024 and DRG/DIP Payment will cover all qualified medical institutions providing inpatient services by
the end of 2025, basically achieving a full coverage on diseases and medical insurance funds. The full
implementation of DRG/DIP Payment in designated medical institutions will raise the requirements on the
medical technology level of private high-end medical institutions, which further highlights their advantages
and attracts people with long-term illness, complicated illness and mid-end to high-end commercial
medical insurance to pursue quality medical services.
Adhering to the previously formulated development strategies, our Group intends to grasp the industry
opportunities by implementing the following measures in the second half of 2026:
•

In response to changes in payment policies of the domestic basic medical insurance, the Group
continues to strengthen the Group’s brand promotion among mid-end to high-end commercial
insurance institutions to expand coverage of target customer base.

•

We will implement a tiered membership card strategy, lowering renewal thresholds for long-term
members to maintain renewal rates and stabilize both the member base calculated by household
units and service penetration rates.

•

We will focus on developing pediatric subspecialty services and restructure our child healthcare
product offerings.

•

We will streamline workforce composition to enhance workforce productivity.

2026 Interim Report

5

Management Discussion and Analysis (Continued)

FINANCIAL REVIEW
Segment Revenue
We generate revenue primarily from providing medical services, including pediatric services, and obstetric
and gynecologic services. The following table sets forth a breakdown of the revenue for the periods
indicated:
Six months ended June 30,
2025

2026

(in thousands of RMB, except percentages)
Medical services
Others(1)

245,505
3,453

98.6%
1.4%

301,005
3,523

98.8%
1.2%

Total

248,958

100.0%

304,528

100.0%

(1)

Others mainly include revenue from cafeteria and gift shop sales at our medical institutions and online healthcare services after
intersegment elimination.

Medical Services
Our revenue from the provision of medical services consists of healthcare services fees and revenue from
pharmaceutical sales. The following table sets forth the revenue, cost of revenue, gross profit and gross
profit margin of our medical services for the periods indicated:
Six months ended June 30,
2025

2026

(in thousands of RMB, except percentages)
Revenue
Cost of revenue
Gross profit(1)
Gross profit margin(2)

245,505
183,366
62,139
25.3%

Notes:

6

(1)

Gross profit is calculated by deducting cost of revenue from revenue.

(2)

Gross profit margin is calculated by dividing gross profit by revenue and multiplied by 100%.

New Century Healthcare Holding Co. Limited

301,005
209,856
91,149
30.3%

Management Discussion and Analysis (Continued)

The following table sets forth the composition of our revenue from pediatric, and obstetric and gynecologic
services for the periods indicated:
Six months ended June 30,
2025

2026

(in thousands of RMB, except percentages)
Pediatric services
Obstetric and gynecologic services

204,581
40,924

82.2%
16.4%

255,693
45,312

84.0%
14.8%

Total

245,505

98.6%

301,005

98.8%

Our medical services can also be classified by service and sale to inpatients and outpatients and
membership card sales. The following table sets forth revenue and certain data relating to such
classification for the periods indicated:
Six months ended June 30,
2026

2025

2,785
29,073

3,411
30,134

83,862
1,817

103,344
1,766

Revenue from medical services attributable to
inpatients (RMB’000)
Revenue from medical services attributable to outpatients (RMB’000)
Revenue recognized for membership card sales (RMB’000)

80,967
152,342
12,196

102,786
182,520
15,699

Pediatric Services
Inpatient services
Inpatient visits
Average inpatient spending per visit (RMB)

2,197
29,285

2,651
30,368

Outpatient services
Outpatient visits
Average outpatient spending per visit (RMB)

70,699
1,811

88,045
1,811

Revenue from pediatric services attributable to inpatients (RMB’000)

64,339

80,505

Our Group
Inpatients services
Inpatient visits
Average inpatient spending per visit (RMB)
Outpatients services
Outpatient visits
Average outpatient spending per visit (RMB)

2026 Interim Report

7

Management Discussion and Analysis (Continued)

Six months ended June 30,
2026

2025

Revenue from pediatric services attributable to outpatients (RMB’000)
Revenue recognized for membership card sales (RMB’000)

128,046
12,196

159,489
15,699

Obstetric and gynecologic services
Inpatient services
Inpatient visits
Average inpatient spending per visit (RMB)

588
28,279

760
29,317

Outpatient services
Outpatient visits
Average outpatient spending per visit (RMB)

13,163
1,846

15,299
1,505

16,628

22,281

24,296

23,031

Revenue from obstetric and gynecologic services attributable to
inpatients (RMB’000)
Revenue from obstetric and gynecologic services attributable to
outpatients (RMB’000)

The revenue generated from the provision of our medical services amounted to RMB245.5 million for the
six months ended June 30, 2026, representing a 18.4% YoY decrease and accounting for 98.6% of our
Group’s total revenue. Such decrease was primarily due to (i) a 16.5% decrease and 21.2% decrease in
revenue from medical services attributable to the outpatients and inpatients respectively; and (ii) a 22.3%
YoY decrease in revenue recognized for membership card sales.
In particular, our medical services were composed of pediatric services, and obstetric and gynecologic
services, from which we generated a revenue of RMB204.6 million and RMB40.9 million, respectively,
for the six months ended June 30, 2026, representing a YoY decrease of 20.0% and a YoY decrease of
9.7%, respectively, when compared with the same period in the previous financial year. For the six months
ended June 30, 2026, we recorded (i) a total of 2,197 inpatient visits and 70,699 outpatient visits for our
pediatric services, representing a YoY decrease of 17.1% and a YoY decrease of 19.7%, respectively; and
(ii) a total of 588 inpatient visits and 13,163 outpatient visits for our obstetric and gynecologic services,
representing a YoY decrease of 22.6% and a YoY decrease of 14.0%, respectively.
The cost of revenue of our medical services consists primarily of employee benefits expenses, cost of
inventories and consumables, consultation fees, depreciation and amortisation, outsourced examination
and inspection fees and utilities, maintenance fees and office expenses. The cost of revenue of our
medical services for the six months ended June 30, 2026 reached RMB183.4 million, representing a YoY
decrease of 12.6%.

8

New Century Healthcare Holding Co. Limited

Management Discussion and Analysis (Continued)

Gross Profit and Gross Profit Margin
Our gross profit for the six months ended June 30, 2026 amounted to RMB61.2 million, representing a
YoY decrease of 31.7% when compared with our gross profit of RMB89.6 million for the same period in
the previous financial year. This was mainly due to the lower demand for pediatric, and obstetric and
gynecologic medicine services. Our gross profit margin decreased from 29.4% in the six months ended
June 30, 2025 to 24.6% in the six months ended June 30, 2026.

Selling Expenses
Our selling expenses for the six months ended June 30, 2026 amounted to RMB27.7 million, representing a
YoY decrease of 18.3% when compared with our selling expenses of RMB33.9 million for the same period
in the previous financial year. This reduction was primarily due to the decrease in employee benefits
expenses.

Administrative Expenses
Our administrative expenses for the six months ended June 30, 2026 amounted to RMB55.0 million,
representing a YoY decrease of 6.9% when compared with our administrative expenses of RMB59.1 million
for the same period in the previous financial year. Such decrease was mainly a result of the measures
continuously carried out by us to reduce expenses and improve operational efficiency in 2026.

Impairment Losses on Financial Assets
During the six months ended June 30, 2026, our Group recorded net impairment losses on financial assets
amounting to RMB9.2 million, which was mainly due to the impairment losses on the amounts due from
related parties.

Other Losses — Net
During the six months ended June 30, 2026, we recognised a provision of RMB62.1 million in relation with
the Freeze Action disclosed in our announcement dated August 14, 2026 as compared to other losses of
RMB0.2 million for the six months ended June 30, 2025.

2026 Interim Report

9

Management Discussion and Analysis (Continued)

Finance Income and Expenses
Our finance income decreased from RMB1.7 million for the six months ended June 30, 2025 to RMB0.5
million for the six months ended June 30, 2026, which was mainly a result of the decrease in interest
income. Our finance costs for the six months ended June 30, 2026 amounted to RMB4.0 million, mainly
consisting of interest expenses related to lease payment.

Income Tax Expense
Our Group incurred an income tax expense of RMB5.9 million for the six months ended June 30, 2026,
representing a YoY decrease of 66.7% when compared with our income tax expense of RMB17.7 million
for the same period in the previous financial year. Such decrease was mainly due to the loss of our Group.

Loss for the six months ended June 30, 2026
We recorded a loss of RMB101.4 million for the six months ended June 30, 2026 as compared to a loss of
RMB58.8 million for the six months ended June 30, 2025.

FINANCIAL POSITION
Inventories
Our inventories decreased by 20.3% from RMB12.8 million as of December 31, 2025 to RMB10.2 million as
of June 30, 2026, primarily due to the decrease of requisite medical inventories as a result of the decline of
the Group’s medical business in the first half of 2026.

Trade Receivables
Our trade receivables decreased by 25.2% from RMB31.0 million as of December 31, 2025 to RMB23.2
million as of June 30, 2026, primarily because of a YoY decrease in medical business.

Trade Payables
Our trade payables decreased by 8.9% from RMB24.6 million as of December 31, 2025 to RMB22.4
million as of June 30, 2026, primarily due to the reduction in the usage of pharmaceuticals and medical
consumables and decreased purchases near June 30, 2026.

LIQUIDITY AND CAPITAL RESOURCES
Restricted Cash
As at June 30, 2026, we had restricted cash of RMB217.5 million, which mainly related to an ongoing
investigation by the Supervisory Committee involving one of the Company’s cooperative partners. Our
Group expects the restrictions on the frozen funds to be released within the next twelve months based on
current circumstances.

Cash and Cash Equivalents
As of June 30, 2026, we had cash and cash equivalents of RMB61.5 million, which represented a decrease of
73.3% when compared with our cash and cash equivalents of RMB230.3 million as of December 31, 2025.

10

New Century Healthcare Holding Co. Limited

Management Discussion and Analysis (Continued)

Significant Investments
Our Group did not hold any significant investments for the six months ended June 30, 2026.

Acquisitions and Disposals
Our Group had no acquisitions or disposals of subsidiaries, associated companies and joint ventures for
the six months ended June 30, 2026.

Capital Expenditures
Our capital expenditures primarily include expenditures on
(i)

property, plant and equipment which are medical equipment, furniture and office equipment; and

(ii)

intangible assets such as computer software relating to our operations.

The amount of our capital expenditures for the six months ended June 30, 2026 was RMB1.3 million,
representing a YoY decrease of 75.5% when compared with RMB5.3 million for the same period in the
previous financial year.
Such decrease was mainly due to our procurement of certain large-scale property, plant and equipment
for business development in 2025, following a decrease in such purchase in the first half of 2026.

INDEBTEDNESS
Borrowings
As of June 30, 2026 and December 31, 2025, we did not have any borrowings.

Exposure to Fluctuations in Exchange Rates
We mainly operate in the PRC with most of the transactions settled in RMB. Foreign exchange rate
risk arises when recognized assets and liabilities are denominated in a currency that is not the entity’s
functional currency. As of June 30, 2026, our assets and liabilities are primarily denominated in RMB,
except for certain cash and cash equivalents denominated in USD or HKD and dividends payable
denominated in HKD. We have not used any derivative financial instrument to hedge against our exposure
to foreign exchange risk but will closely monitor such risk on an ongoing basis.

Contingent Liabilities
As of June 30, 2026, we did not have any contingent liabilities or guarantees that would have a material
impact on our financial position or results of operations.

2026 Interim Report

11

Management Discussion and Analysis (Continued)

Pledge of Assets
As of June 30, 2026, none of our assets had been pledged.

Contractual Obligations
As of June 30, 2026, we did not have any contractual obligations that would have a material effect on our
financial position or results of operations.

Financial Instruments
Our major financial instruments include trade receivables, other receivables and deposits excluding
prepayments, amounts due from related parties, restricted cash, cash and cash equivalents, trade
payables, other payables excluding non-financial liabilities, amounts due to related parties and lease
liabilities. Our management manages such exposure to ensure appropriate measures are implemented in a
timely and effective manner.

Gearing Ratio
As of June 30, 2026 and December 31, 2025, we did not have any borrowings, and therefore the gearing
ratio, which is calculated as total borrowings divided by total equity, is not applicable.

EMPLOYEE AND REMUNERATION POLICY
We had 1,079 and 1,233 employees as of June 30, 2026 and 2025, respectively. Our total staff
remuneration expenses including Directors’ remuneration for the six months ended June 30, 2026 and
2025 amounted to RMB140.6 million and RMB161.1 million, respectively. Remuneration is determined
with reference to performance, skills, qualifications and experience of the staff concerned and in
accordance with the prevailing industry practice. On top of salary payments, other staff benefits include
social insurance and housing provident fund contributions made by our Group, performance-based
compensation and discretionary bonus. Our Group also adopted the RSA Scheme and the Employee
Share Scheme to attract, retain and motivate our key employees.
The remuneration of our Directors is reviewed by the Remuneration Committee and approved by our
Board. The relevant Director’s experience, duties and responsibilities, time commitment, performance
at our Company and the prevailing market conditions are taken into consideration in determining the
emolument of our Directors.

EVENTS AFTER THE REPORTING PERIOD
Except for those disclosed elsewhere in this interim condensed consolidated financial information, there is
no significant event of our Group during the period from June 30, 2026 to the date of this report.

INTERIM DIVIDEND
Our Board does not recommend the payment of an interim dividend for the six months ended June 30,
2026.

12

New Century Healthcare Holding Co. Limited

Other Information
DIRECTORS’ AND CHIEF EXECUTIVE’S INTEREST AND SHORT
POSITIONS IN SHARES, UNDERLYING SHARES AND DEBENTURES OF
THE COMPANY OR ITS ASSOCIATED CORPORATIONS
As of June 30, 2026, the interests and short positions of the Directors and chief executive of our Company
in the Shares, underlying Shares and debentures of our Company or any associated corporations (within
the meaning of Part XV of the SFO) which were required (a) to be notified to our Company and the Stock
Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions
which they were taken or deemed to have under such provisions of the SFO); or (b) to be recorded in
the register required to be kept pursuant to Section 352 of the SFO; or (c) as otherwise notified to our
Company and the Stock Exchange pursuant to the Model Code were as follows:

(a)

Interests/short positions in the Shares

Number of
Shares(1)

Approximate
percentage of
interest in our
Company

159,816,213

32.61%

Beneficial owner

180,000

0.04%

Beneficial owner

180,000

0.04%

Name of Director or
Chief Executive

Capacity and nature of interest

Mr. Jason ZHOU(2)

Interests in a controlled corporation

Ms. XIN Hong(3)
Mr. XU Han(4)
Notes:
1.

All interests stated are long positions.

2.

The entire issued share capital of each of JoeCare and Century Star is directly held by Mr. Jason ZHOU. Accordingly,
Mr. Jason ZHOU is deemed to be interested in the 150,817,051 Shares held by JoeCare and the 8,999,162 Shares held
by Century Star.

3.

450,000 restricted Shares were granted to Ms. XIN Hong under the RSA Scheme, 180,000 of which have been vested
in her subject to certain conditions and 270,000 of which have lapsed. Hence, Ms. XIN Hong is interested in 180,000
restricted Shares vested in her under the RSA Scheme.

4.

450,000 restricted Shares were granted to Mr. XU Han under the RSA Scheme, 180,000 of which have been vested
in him subject to certain conditions and 270,000 of which have lapsed. Hence, Mr. XU Han is interested in 180,000
restricted Shares vested in him under the RSA Scheme.

2026 Interim Report

13

Other Information (Continued)

Save as disclosed above, as of June 30, 2026, so far as is known to the Directors or chief executive of
our Company, none of the Directors or chief executive of our Company had any interest or short positions
in the Shares, underlying Shares or debentures of our Company or any associated corporation (within
the meaning of Part XV of the SFO), which (a) were required to be notified to our Company and the Stock
Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions
which they were taken or deemed to have under such provisions of the SFO); or (b) were required,
pursuant to Section 352 of the SFO, to be recorded in the register referred to therein; or (c) were required,
pursuant to the Model Code, to be notified to our Company and the Stock Exchange.

SUBSTANTIAL SHAREHOLDERS’ INTERESTS AND SHORT POSITIONS IN
SHARES AND UNDERLYING SHARES
As of June 30, 2026, so far as was known to any Director or chief executive of our Company, the following
persons (other than the Directors and chief executive of our Company) had interests and/or short positions
in the Shares or underlying Shares which would fall to be disclosed to our Company pursuant to Divisions
2 and 3 of Part XV of the SFO or as recorded in the register required to be kept by our Company under
Section 336 of the SFO:

Name of Shareholders

Capacity and nature of interest

JoeCare(1)
Beneficial owner
GENERTEC HONG KONG INTERNATIONAL CAPITAL Beneficial owner
LIMITED (“Genertec HK”)(2)
China General Technology (Group) Holding Co., Ltd. Interests in a controlled corporation
中國通用技術(集團)控股有限責任公司(2)
Anyi Hekang (Tianjin) Investment Partnership L.P.
Beneficial owner
(安怡和康(天津)投資合夥企業(有限合夥))(3)
Boyu Guangqu (Shanghai) Investment Management Interests in a controlled corporation
Co., Ltd. (博裕廣渠(上海)投資管理有限公司)(3)
Boyu (Shanghai) Equity Investment Management Co., Interests in a controlled corporation
Ltd. (博裕(上海)股權投資管理有限責任公司)(3)
XIA Meiying(3)
Interests in a controlled corporation
(3)
HUANG Ailian
Interests in a controlled corporation
China Life Reinsurance Company Ltd.(4)
Beneficial owner
(4)
China Reinsurance (Group) Corporation
Interests in a controlled corporation
Central Huijin Investment Ltd.(4)
Interests in a controlled corporation

14

New Century Healthcare Holding Co. Limited

Number of Shares

Approximate
percentage of
interest in our
Company

150,817,051
57,740,181

30.8%
11.8%

57,740,181

11.8%

31,562,713

6.4%

31,562,713

6.4%

31,562,713

6.4%

31,562,713
31,562,713
31,444,000
31,444,000
31,444,000

6.4%
6.4%
6.4%
6.4%
6.4%

Other Information (Continued)

Notes:
1.

The entire issued share capital of JoeCare is directly held by Mr. Jason ZHOU. Accordingly, such 150,817,051 Shares held by
JoeCare have been included and reflected in the number of shares interested by Mr. Jason ZHOU above.

2.

The entire issued share capital of Genertec HK is directly held by China General Technology (Group) Holding Co., Ltd. (中國
通用技術(集團)控股有限責任公司), which is in turn wholly owned by the State Council. Accordingly, China General Technology
(Group) Holding Co., Ltd. is deemed to be interested in the 57,740,181 Shares held by Genertec HK.

3.

Anyi Hekang (Tianjin) Investment Partnership L.P. (安怡和康(天津)投資合夥企業(有限合夥)) is a limited liability partnership
organized and existing under the laws of the PRC. The general partner of Anyi Hekang (Tianjin) Investment Partnership L.P. is
Boyu Guangqu (Shanghai) Investment Management Co., Ltd. (博裕廣渠(上海)投資管理有限公司) whose sole shareholder is Boyu
(Shanghai) Equity Investment Management Co., Ltd. (博裕(上海)股權投資管理有限責任公司) which is owned as to 50% by Xia
Meiying and 50% by Huang Ailian. Accordingly, each of Boyu Guangqu (Shanghai) Investment Management Co., Ltd. (博裕廣
渠(上海)投資管理有限公司), Boyu (Shanghai) Equity Investment Management Co., Ltd. (博裕(上海)股權投資管理有限責任公司),
XIA Meiying and HUANG Ailian is deemed to be interested in such number of Shares held by Anyi Hekang (Tianjin) Investment
Partnership L.P..

4.

China Life Reinsurance Company Ltd. is a company incorporated in the PRC with limited liability, whose sole shareholder is
China Reinsurance (Group) Corporation, which is owned as to 71.6% by Central Huijin Investment Ltd.. China Reinsurance
(Group) Corporation and Central Huijin Investment Ltd. are deemed to be interested in such number of Shares held by China
Life Reinsurance Company Ltd..

Save as disclosed above, as of June 30, 2026, our Company had not been notified by any person (other
than the Directors or chief executive of our Company) who had interests or short positions in the Shares or
underlying Shares which shall be disclosed to our Company pursuant to Divisions 2 and 3 of Part XV of the
SFO or as recorded in the register required to be kept pursuant to Section 336 of the SFO.

RSA SCHEME AND EMPLOYEE SHARE SCHEME
(a)

RSA Scheme
The RSA Scheme was adopted pursuant to the written resolutions of the Shareholders passed on
August 29, 2016 (the “RSA Scheme Adoption Date”). The purpose of the RSA Scheme is to give
incentives thereto in order to retain key employees for the continual operation and development of
our Group and to attract suitable personnel for further development of our Group. The RSA Scheme
shall be valid and effective for a period of ten years commencing on the RSA Scheme Adoption
Date, under the administration of the administration committee and the trustee.
As of January 1, 2021, all restricted Shares previously granted under the RSA Scheme had either
vested or lapsed and there were no restricted Shares outstanding. The number of Shares available
for grant under the RSA Scheme as of January 1, 2026 and June 30, 2026 were both 4,767,500
Shares. No restricted Shares were granted, vested, cancelled or lapsed under the RSA Scheme
during the six months ended June 30, 2026.

(b)

Employee Share Scheme
On August 28, 2020, our Board adopted the Employee Share Scheme in order to recognize the
contributions by the selected participants, to provide them with incentives to achieve performance
goals, and to attract suitable personnel for further development of our Group. The Employee Share
Scheme shall be valid and effective for a period of ten years commencing on its adoption date,
under the administration of the administration committee and the trustee.
2026 Interim Report

15

Other Information (Continued)

No Shares shall be purchased pursuant to the Employee Share Scheme if as a result of such
purchase, the number of Shares administered under the Employee Share Scheme reaches 5%
or more of the issued share capital of our Company at the date of our Board’s approval of the
Employee Share Scheme, or such other limit as determined by the administration committee in its
sole and absolute discretion provided always that it is in compliance with the Listing Rules. The
maximum number of award shares which may be granted to a selected participant at any one time
or in aggregate may not exceed 1% of the issued share capital of our Company at the same date.
In determining the selected participants, the number of award shares to be granted, the vesting
conditions, the exercise price (if any) to be paid by the selected participants for each award share,
the manner of payment of the exercise price and the other terms and conditions of the grants
of award shares, the administration committee shall take into consideration any matter which
it considers relevant. Any award share granted to a selected participant pursuant to the rules
governing the Employee Share Scheme (the “Employee Share Scheme Rules”) shall vest in such
selected participant in accordance with the vesting conditions as set out in the grant letter.
As of June 30, 2026, for the purpose of the Employee Share Scheme, 2,073,500 shares have been
purchased from the market by the trustee appointed by our Company for the administration of the
Employee Share Scheme to hold on trust for the benefit of the selected participants pursuant to
the Employee Share Scheme Rules and the provisions of the trust deed in relation to the Employee
Share Scheme.
As at the date of this interim report, no Shares were granted, vested, cancelled or lapsed under
the Employee Share Scheme. For further details of the Employee Share Scheme, please refer to our
Company’s announcement dated August 31, 2020.
As at the date of this interim report, the total number of shares of our Company available for grant
under the Employee Share Scheme remained at 24,501,250 shares, representing the 5% scheme
limit as approved and adopted by our Board on August 28, 2020. As at the date of this interim
report, the scheme limit remained unchanged at 5%. The number of Shares available for grant under
the Employee Share Scheme remained at 2,073,500 as of both January 1, 2026 and June 30, 2026.

DIRECTOR’S RIGHTS TO ACQUIRE SHARES AND DEBENTURES
Save as disclosed in the section headed “RSA Scheme and Employee Share Scheme” above, at no
time during the six months ended June 30, 2026 were there rights to acquire benefits by means of the
acquisition of Shares in or debentures of our Company granted to any Directors or their respective spouse
or minor children, or were any such rights exercised by the Directors; or was our Company, or any of
its holding companies, fellow subsidiaries and subsidiaries a party to any arrangement to enable the
Directors to acquire such rights in any other body corporate.

16

New Century Healthcare Holding Co. Limited

Other Information (Continued)

PURCHASE, SALE OR REDEMPTION OF THE COMPANY’S LISTED
SECURITIES
During the six months ended June 30, 2026, neither our Company nor any of its subsidiaries had
purchased, sold or redeemed any of our Company’s listed securities.

USE OF PROCEEDS FROM THE IPO
The net proceeds received by our Company from the global offering amounted to HK$857.2 million after
deducting underwriting commissions and all related expenses, which have been and will be used in the
manner consistent with that mentioned in the section headed “Future Plans and Use of Proceeds” of the
prospectus of our Company dated December 30, 2016 and the announcements of our Company dated
December 6, 2017 and March 25, 2019 regarding the change in use of proceeds.
The use of net proceeds and expected timeline of the intended use of the unutilized proceeds, subject to
the then management assessment and market landscape, is set out as below:
Expected timeline of the
intended use of the unutilized
proceeds, subject to the then
management assessment and
market landscape

Net proceeds as of
December 31, 2025
(HKD million)

Utilized between
January 1, 2026
and June 30, 2026
(HKD million)

Unutilized as of
June 30, 2026
(HKD million)

Setting up, renovation and acquisition
of new hospitals and clinics and the
required working capital for such new
hospitals and clinics
Investment in surgery center and medical
service technologies (including online
diagnosis)

14.7

9.5

5.2

The remaining amount is
expected to be fully utilized
by the end of 2026.

—

—

—

Not applicable

Total

14.7

9.5

5.2

Item

2026 Interim Report

17

Other Information (Continued)

CORPORATE GOVERNANCE PRACTICE
Our Board is committed to maintaining high corporate governance standards. Our Company has applied
the principles as set out in the CG Code contained in Appendix C1 to the Listing Rules which are
applicable to our Company.
In the opinion of our Directors, our Company has complied with all applicable code provisions as set out
in the CG Code during the six months ended June 30, 2026, save and except for code provision C.2.1
which states that the roles of chairman and chief executive officer should be separate and should not
be performed by the same individual. Mr. Jason ZHOU is both our chairman and chief executive officer,
and is responsible for the overall management of our Group and directing the strategic development and
business plans of our Group. We believe that he is instrumental to our growth and business expansion
since our establishment in 2002. The Board considers that the roles of chairman and chief executive
officer being vested in the same person is beneficial to the business prospects, management and overall
strategic direction of our Group by ensuring consistent leadership within our Group and facilitating more
effective and efficient overall strategic planning and decision-making for our Group. After considering all
the corporate governance measures that have been taken, our Board considers that the balance of power
and authority will not be impaired by the present arrangement and the current structure will enable our
Company to make and implement decisions more promptly and effectively. Thus, our Company does not
segregate the roles of chairman and chief executive officer. Our Board will continue to review the situation
and consider splitting the roles of chairman and chief executive officer of our Company in due course after
taking into account the then overall circumstances of our Group.

MODEL CODE FOR SECURITIES TRANSACTIONS
Our Company has adopted the Model Code as its code of conduct regarding securities transactions by
our Directors. Our Company has also set guidelines, at least as strict as the Model Code, on transactions
of our Company’s securities for relevant employees (as defined in the Listing Rules).
Our Company has made specific inquiries to all Directors about their compliance with the Model Code,
and they all confirmed that they complied with the standards specified in the Model Code during the six
months ended June 30, 2026. Our Company has made specific inquiries of relevant employees about their
compliance with the guidelines on transactions of our Company’s securities, without noticing any violation
of the guidelines.

DISCLOSURE OF CHANGES IN DIRECTORS’ INFORMATION
There is no other information required to be disclosed pursuant to Rule 13.51B(1) of the Listing Rules
regarding significant changes in Directors’ biographical details from the publication of our Company’s
2025 annual report up to the Latest Practicable Date.

18

New Century Healthcare Holding Co. Limited

Other Information (Continued)

REVIEW OF INTERIM RESULTS
The Audit Committee comprises three independent non-executive Directors, namely, Mr. SUN Hongbin, Mr.
JIANG Yanfu and Mr. YANG Yuelin. The chairman of the Audit Committee is Mr. SUN Hongbin.
The Audit Committee has reviewed the unaudited interim results of our Group for the six months ended
June 30, 2026 and this interim report, and was of the opinion that the interim results and the interim report
had been prepared in accordance with the relevant accounting standards and that adequate disclosures
have been made in accordance with the requirements of the Listing Rules.

APPENDIX D2 TO THE LISTING RULES
According to paragraph 40 of Appendix D2 to the Listing Rules headed “Disclosure of Financial
Information”, save as disclosed herein, our Company confirms that our Company’s current information in
relation to those matters set out in paragraph 2 of Appendix D2 has not been changed significantly from
the information disclosed in our Company’s 2025 annual report.

By order of the Board
Jason ZHOU
Chairman, Executive Director and Chief Executive Officer
Hong Kong, August 31, 2026

2026 Interim Report

19

Report on Review of Interim Financial Information
To the Board of Directors of New Century Healthcare Holding Co. Limited
(incorporated in the Cayman Islands with limited liability)

INTRODUCTION
We have reviewed the interim financial information set out on pages 22 to 45, which comprises the
interim condensed consolidated statement of financial position of New Century Healthcare Holding Co.
Limited (the “Company”) and its subsidiaries (together, the “Group”) as at 30 June 2026 and the interim
condensed consolidated statement of comprehensive income, the interim condensed consolidated
statement of changes in equity and the interim condensed consolidated statement of cash flows for
the six-month period then ended, and selected explanatory notes. The Rules Governing the Listing of
Securities on The Stock Exchange of Hong Kong Limited require the preparation of a report on interim
financial information to be in compliance with the relevant provisions thereof and Hong Kong Accounting
Standard 34 “Interim Financial Reporting” as issued by the Hong Kong Institute of Certified Public
Accountants (the “HKICPA”). The directors of the Company are responsible for the preparation and
presentation of this interim financial information in accordance with Hong Kong Accounting Standard
34 “Interim Financial Reporting” as issued by the HKICPA. Our responsibility is to express a conclusion
on this interim financial information based on our review and to report our conclusion solely to you, as a
body, in accordance with our agreed terms of engagement, and for no other purpose. We do not assume
responsibility towards or accept liability to any other person for the contents of this report.

SCOPE OF REVIEW
We conducted our review in accordance with Hong Kong Standard on Review Engagements 2410,
“Review of Interim Financial Information Performed by the Independent Auditor of the Entity” as issued
by the HKICPA. A review of interim financial information consists of making inquiries, primarily of persons
responsible for financial and accounting matters, and applying analytical and other review procedures. A
review is substantially less in scope than an audit conducted in accordance with Hong Kong Standards
on Auditing and consequently does not enable us to obtain assurance that we would become aware of all
significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

CONCLUSION
Based on our review, nothing has come to our attention that causes us to believe that the interim
financial information of the Group is not prepared, in all material respects, in accordance with Hong Kong
Accounting Standard 34 “Interim Financial Reporting” as issued by the HKICPA.

20

New Century Healthcare Holding Co. Limited

Report on Review of Interim Financial Information (Continued)

EMPHASIS OF MATTER
We draw attention to Note 12(i) to the interim financial information, which describes the uncertainty
regarding the outcome of an ongoing investigation into one of the Group’s cooperative partners and the
resolution of a matter related to the public-private-partnership arrangement between the Group and the
cooperative partner. In connection with the investigation, as at 30 June 2026, certain bank accounts of the
Group with a total balance of approximately RMB217,497,000 were frozen, and the Group has recognised
a provision of approximately RMB62,125,000 for a probable payment to resolve the matter. Our conclusion
is not modified in respect of this matter.

PricewaterhouseCoopers
Certified Public Accountants
Hong Kong, 31 August 2026

2026 Interim Report

21

Interim Condensed Consolidated Statement of
Financial Position

Notes

As at

30 June

31 December

2026

2025

RMB’000

RMB’000

(Unaudited)

(Audited)

53,977
87,934
205,775
15,866
148
3,518

59,746
100,333
208,755
15,335
779
3,514

Total non-current assets

367,218

388,462

Current assets
Inventories
Trade receivables
Other receivables, deposits and prepayments
Amounts due from related parties
Term deposits
Restricted cash
Cash and cash equivalents

10,218
23,244
16,253
4,933
—
217,497
61,527

12,761
31,038
16,548
13,052
53,200
—
230,260

Total current assets

333,672

356,859

Total assets

700,890

745,321

335
(2,939)
2,580,078
(1,485,382)
(748,298)

335
(2,939)
2,580,078
(1,485,347)
(663,339)

Equity attributable to owners of the Company

343,794

428,788

Non-controlling interests

(91,294)

(74,814)

Total equity

252,500

353,974

ASSETS
Non-current assets
Property, plant and equipment
Right-of-use assets
Intangible assets
Investments accounted for using the equity method
Deferred tax assets
Long-term deposits and prepayments

EQUITY
Share capital
Shares held for employee share scheme
Share premium
Reserves
Accumulated losses

22

As at

New Century Healthcare Holding Co. Limited

5
6
7

8
9
10

Interim Condensed Consolidated Statement of
Financial Position (Continued)

Notes

As at

As at

30 June

31 December

2026

2025

RMB’000

RMB’000

(Unaudited)

(Audited)

76,862

95,940

Deferred tax liabilities

17,161

17,756

Total non-current liabilities

94,023

113,696

LIABILITIES
Non-current liabilities
Lease liabilities

6

Current liabilities
Trade payables

11

22,435

24,575

Accruals, other payables and provisions

12

202,261

143,918

Lease liabilities

6

87,218

70,300

37,470

35,378

484

683

4,499

2,797

Total current liabilities

354,367

277,651

Total liabilities

448,390

391,347

Total equity and liabilities

700,890

745,321

Contract liabilities
Current tax liabilities
Amounts due to related parties

9

The above interim condensed consolidated statement of financial position should be read in conjunction
with the accompanying notes.
The financial information on pages 22 to 45 were approved by the board of directors of the Company on
31 August 2026 and was signed on its behalf

Jason ZHOU

XU Han

2026 Interim Report

23

Interim Condensed Consolidated Statement of
Comprehensive Income
Six months ended 30 June
2026
RMB’000
(Unaudited)

2025
RMB’000
(Unaudited)

248,958
(187,776)
—
(27,706)
(54,982)
(855)
(9,223)
484
(61,536)

304,528
(214,882)
(33,737)
(33,921)
(59,053)
(1,809)
(1,570)
525
(176)

Operating loss

(92,636)

(40,095)

Finance income
Finance costs
Share of net profits of investments accounted
for using the equity method

549
(4,023)

1,666
(3,570)

566

911

Loss before income tax

(95,544)

(41,088)

(5,895)

(17,719)

Loss for the interim period

(101,439)

(58,807)

Loss for the interim period attributable to:
Owners of the Company
Non-controlling interests

(84,959)
(16,480)

(65,234)
6,427

(35)

73

Total comprehensive income for the interim period

(101,474)

(58,734)

Total comprehensive income for the interim period
attributable to:
Owners of the Company
Non-controlling interests

(84,994)
(16,480)

(65,161)
6,427

(0.18)

(0.14)

Notes
Revenue
Cost of revenue
Impairment losses on non-current assets
Selling expenses
Administrative expenses
Research and development expenses
Net impairment losses on financial assets
Other income
Other losses — net

Income tax expense

4
4

13

14

Other comprehensive income
Items that may be reclassified to profit or loss
— Exchange differences on translation of
foreign operations

Loss per share for loss attributable to the ordinary equity
holders of the Company (expressed in RMB per share)
Basic and diluted loss per share

15

The above interim condensed consolidated statement of comprehensive income should be read in
conjunction with the accompanying notes.

24

New Century Healthcare Holding Co. Limited

Interim Condensed Consolidated Statement of
Changes in Equity
Attributable to owners of the Company

Share
capital
RMB’000

Shares
held for
employee
share
scheme
RMB’000

Share
premium
RMB’000

Other Accumulated
reserves
losses
RMB’000
RMB’000

(Unaudited)
Balance at 31 December 2025

335

(2,939)

2,580,078

(1,485,347)

Total comprehensive income for the
interim period
— Loss for the interim period
— Translation differences

—
—

—
—

—
—

—

—

Balance at 30 June 2026

335

(Unaudited)
Balance at 31 December 2024
Total comprehensive income for the
interim period
— (Loss)/profit for the interim period
— Translation differences

Subtotal
RMB’000

Noncontrolling
interests
RMB’000

Total equity
RMB’000

(663,339)

428,788

(74,814)

353,974

—
(35)

(84,959)
—

(84,959)
(35)

(16,480)
—

(101,439)
(35)

—

(35)

(84,959)

(84,994)

(16,480)

(101,474)

(2,939)

2,580,078

(1,485,382)

(748,298)

343,794

(91,294)

252,500

335

(2,939)

2,589,887

(1,492,168)

(541,289)

553,826

(44,950)

508,876

—
—

—
—

—
—

—
73

(65,234)
—

(65,234)
73

6,427
—

(58,807)
73

—

—

—

73

(65,234)

(65,161)

6,427

(58,734)

—

—

(9,809)

—

—

(9,809)

—

(9,809)

Total transactions with owners

—

—

(9,809)

—

—

(9,809)

—

(9,809)

Balance at 30 June 2025

335

(2,939)

2,580,078

(1,492,095)

(606,523)

478,856

(38,523)

440,333

Note

Transactions with owners
— Dividends

16

The above interim condensed consolidated statement of changes in equity should be read in conjunction
with the accompanying notes.

2026 Interim Report

25

Interim Condensed Consolidated Statement of
Cash Flows
Note

Six months ended 30 June
2026
2025
RMB’000
RMB’000
(Unaudited)
(Unaudited)

Cash flows from operating activities
Cash (used in)/generated from operations

(209,120)

20,352

Interest paid

(498)

(3,392)

Interest received

549

1,666

Income taxes paid

(6,058)

(13,782)

(215,127)

4,844

(1,189)

(5,150)

(146)

(112)

Net cash (used in)/generated from operating activities
Cash flows from investing activities
Payments for property, plant and equipment
Payments for intangible assets
Proceeds from disposals of property, plant and equipment

—

1

Proceeds from disposal of term deposits

53,200

—

Net cash generated from/(used in) investing activities

51,865

(5,261)

Cash flows from financing activities
Dividends paid to the Company’s shareholders

16

—

(8,993)

Payment of lease liabilities (principal)

(4,472)

(13,072)

Net cash used in financing activities

(4,472)

(22,065)

(167,734)

(22,482)

230,260

354,522

(999)

(137)

61,527

331,903

Net decrease in cash and cash equivalents
Cash and cash equivalents at the beginning
of the interim period
Effects of exchange rate changes on cash and
cash equivalents
Cash and cash equivalents at the end of the interim period

The above interim condensed consolidated statement of cash flows should be read in conjunction with the
accompanying notes.

26

New Century Healthcare Holding Co. Limited

Notes to the Interim Condensed Consolidated
Financial Information
1

GENERAL INFORMATION AND BASIS OF PREPARATION OF THE
INTERIM REPORT
1.1 General information
New Century Healthcare Holding Co. Limited (the “Company”) and its subsidiaries (together,
the “Group”) are principally engaged in provision of pediatrics, obstetrics and gynecology
specialty services in the People’s Republic of China (the “PRC”). The Group also provides
online healthcare services and other related services.
The Company is a limited liability company incorporated in the Cayman Islands on 31 July
2015. The address of its registered office is c/o Walkers Corporate Limited, 190 Elgin Avenue,
George Town, Grand Cayman KY1-9008, Cayman Islands.
The ordinary shares of the Company were listed on the Main Board of The Stock Exchange of
Hong Kong Limited (the “Listing”) on 18 January 2017.
The interim condensed consolidated financial information is presented in Renminbi (“RMB”)
and rounded to nearest thousand yuan, unless otherwise stated.

1.2 Basis of preparation of the interim report
This interim condensed consolidated financial information for the six-month period ended
30 June 2026 has been prepared in accordance with Hong Kong Accounting Standard 34
(“HKAS 34”) ‘Interim financial reporting’.

Going Concern
For the six months ended 30 June 2026, the Group had net operating loss of RMB92,636,000
and net loss attributable to owners of the Company of RMB84,959,000. As at 30 June 2026,
the Group’s current liabilities exceeded its current assets by RMB20,695,000.
As disclosed in Note 10 and Note 12(i), certain bank accounts of the Group, amounting to
approximately RMB217,497,000, were frozen and the Group has recognised a provision of
approximately RMB62,125,000 for a probable payment to resolve the matter. These events
and circumstances may cast significant doubts on the Group’s ability to continue as a going
concern.

2026 Interim Report

27

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
1

GENERAL INFORMATION AND BASIS OF PREPARATION OF THE
INTERIM REPORT (CONTINUED)
1.2 Basis of preparation of the interim report (Continued)

Going Concern (Continued)
In view of the above circumstances, management have prepared cash flow forecasts covering
a period of not less than twelve months from the date of this interim condensed consolidated
financial information given careful consideration to the Group’s future liquidity, performance
and available sources of financing. In making these forecasts, management have considered
the Group’s active engagement with the relevant supervisory committee to facilitate the
resolution of the Freeze Action (Note 12(i)) and the release of the restriction on the frozen
funds. These forecasts take into account the Group’s operating cash flows, as well as the
anticipated release of the restrictions on the frozen funds, the expected payment described
above, and also considered the potential timing of these events. Based on this forecast, the
directors consider that the Group will have sufficient cash resources to meet its obligations as
and when they fall due throughout the forecast period. Accordingly, the directors are of the
opinion that it remains appropriate to prepare the interim condensed consolidated financial
information on a going concern basis.
The interim condensed consolidated financial information does not include all of the notes
normally included in annual consolidated financial statements. Accordingly, this interim
condensed consolidated financial information should be read in conjunction with the annual
consolidated financial statements for the year ended 31 December 2025.
The accounting policies adopted are consistent with those of the previous financial year
and corresponding interim reporting period, except for the adoption of new and amended
standards as below.

(a)

New and amended standards adopted by the Group
A number of new or amended standards became applicable during current reporting
period. The Group did not have to change its accounting policies or make retrospective
adjustments as a result of adopting these standards.

(b) Impact of standards issued but not yet adopted by the Group
Certain new accounting standards, amendments to existing accounting standards and
interpretations have been published that are not mandatory for the current reporting
period and have not been early adopted by the Group. Except for the expected
changes in presentation and disclosure under HKFRS 18 as mentioned in the annual
financial report for the year ended 31 December 2025, other standards are not
expected to have a material impact on the Group in the current or future reporting
periods and on foreseeable future transactions.

28

New Century Healthcare Holding Co. Limited

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
2

FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
The Group’s activities expose it to a variety of financial risks: market risk (including foreign
exchange risk and fair value interest rate risk), credit risk and liquidity risk.
The interim condensed consolidated financial information does not include all financial risk
management information and disclosures required in the annual financial report, and should be read
in conjunction with the Group’s annual report for the year ended 31 December 2025. There have
been no changes in the risk management policies for the six months ended 30 June 2026.

3

ESTIMATES
The preparation of interim financial information requires management to make judgements, estimates
and assumptions that affect the application of accounting policies and the reported amounts of
assets and liabilities, income and expense. Actual results may differ from these estimates.
In preparing this interim condensed consolidated financial information, the significant judgements
made by management in applying the Group’s accounting policies and the key sources of estimation
uncertainty were the same as those that applied to the consolidated financial statements for the year
ended 31 December 2025 except for the provision in relation to the Freeze Action (Note 12(i)).

4

SEGMENT INFORMATION
Mr. Jason ZHOU, in his role as the executive director and chairman of the Company, serves as
the chief operating decision-maker (the “CODM”) of the Group. Management has determined the
operating segments based on the information reviewed by the CODM for the purposes of allocating
resources and assessing performance.
In the view of the CODM, the Group is principally engaged in three distinct segments which are
subject to different business risks and economic characteristics: (i) pediatric services, (ii) obstetrics
and gynecology services, and (iii) others, including hospital appointment, online consultation
services and online products sales to customers, canteens operation, sales of gift and groceries
in shops located in its own hospitals. Management group these revenue in others as each of them
does not exceed 10% of the total revenue, total profit and total assets of the Group.

2026 Interim Report

29

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
4

SEGMENT INFORMATION (CONTINUED)
The Group’s segment information is shown as follows:

(i)

Segment information

Pediatrics
RMB’000

Obstetrics
and
gynecology
RMB’000

Others
RMB’000

Intersegment
eliminations
RMB’000

Unallocated
RMB’000

Total
RMB’000

204,581
—

40,924
—

3,453
8,080

—
(8,080)

—
—

248,958
—

204,581
(144,351)
2,854

40,924
(39,015)
(11,501)

11,533
(6,867)
(5,335)

(8,080)
2,457
—

—
—
—
2,358
(83,920)

248,958
(187,776)
(13,982)
2,358
(83,920)

2,854

(11,501)

(5,335)

—

(81,562)
(5,895)

(95,544)
(5,895)

(Unaudited)
Six months ended 30 June 2026
Revenue from external customers
Inter-segment revenue
Total revenue
Cost of revenue
Segment results
Unallocated income
Unallocated cost
Profit/(loss) before income tax
Income tax expense
Loss for the period

30

(101,439)

Others
Depreciation and amortisation

15,581

5,429

409

—

243

21,662

As at 30 June 2026
Total assets

341,425

52,716

8,622

—

298,127

700,890

Total liabilities

218,686

115,339

6,423

—

107,942

448,390

New Century Healthcare Holding Co. Limited

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
4

SEGMENT INFORMATION (CONTINUED)
(i)

Segment information (Continued)

(Unaudited)
Six months ended 30 June 2025
Revenue from external customers
Inter-segment revenue
Total revenue
Cost of revenue
Impairment losses on
non-current assets
Segment results
Unallocated income
Unallocated cost
(Loss)/profit before income tax
Income tax expense

Pediatrics
RMB’000

Obstetrics
and
gynecology
RMB’000

Others
RMB’000

Intersegment
eliminations
RMB’000

Unallocated
RMB’000

Total
RMB’000

255,693
—

45,312
—

3,523
14,688

—
(14,688)

—
—

304,528
—

255,693
(164,642)

45,312
(45,214)

18,211
(8,055)

(14,688)
3,029

—
—

304,528
(214,882)

(20,571)
(507)

(13,166)
(28,636)

—
2,883

—
—

—
—
3,160
(17,988)

(33,737)
(26,260)
3,160
(17,988)

(507)

(28,636)

2,883

—

(14,828)
(17,719)

(41,088)
(17,719)
(58,807)

Loss for the period

(ii)

Others
Depreciation and amortisation

17,949

6,247

409

—

427

25,032

As at 31 December 2025
Total assets

368,070

56,178

17,316

—

303,757

745,321

Total liabilities

225,526

112,548

7,356

—

45,917

391,347

Disaggregation of revenue from contracts with customers
Substantially all of the Group’s revenue from external customers is recognised at a point in
time.

(iii)

No geographical information is presented as all of the Group’s revenue is derived from
activities in the PRC, and the Group’s operations and non-current assets are mainly located in
the PRC.

2026 Interim Report

31

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
5

PROPERTY, PLANT AND EQUIPMENT
Buildings and
leasehold
improvements
RMB’000

Medical
equipments
RMB’000

188,133
(172,075)

116,525
(81,796)

6,901
(2,975)

31,776
(26,743)

343,335
(283,589)

Net book amount

16,058

34,729

3,926

5,033

59,746

(Unaudited)
Six months ended 30 June 2026
Opening net book amount
Additions
Disposals
Depreciation charge

16,058
15
—
(2,726)

34,729
451
(144)
(2,383)

3,926
—
—
(299)

5,033
218
(26)
(875)

59,746
684
(170)
(6,283)

Closing net book amount

13,347

32,653

3,627

4,350

53,977

188,148
(174,801)

116,008
(83,355)

6,901
(3,274)

31,705
(27,355)

342,762
(288,785)

13,347

32,653

3,627

4,350

53,977

At 31 December 2025
Cost
Accumulated depreciation and impairment

At 30 June 2026
Cost
Accumulated depreciation and impairment
Net book amount

32

New Century Healthcare Holding Co. Limited

Office
Motor
equipments
vehicles and furnitures
RMB’000
RMB’000

Total
RMB’000

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
6

LEASES
The statement of financial position shows the following amounts relating to leases:

Right-of-use assets
Properties
RMB’000

Equipment
RMB’000

Total
RMB’000

239,380
(141,639)

6,174
(3,582)

245,554
(145,221)

Net book amount

97,741

2,592

100,333

(Unaudited)
Six months ended 30 June 2026
Opening net book amount
Depreciation charge

97,741
(12,121)

2,592
(278)

100,333
(12,399)

Closing net book amount

85,620

2,314

87,934

At 30 June 2026
Cost
Accumulated depreciation

239,380
(153,760)

6,174
(3,860)

245,554
(157,620)

85,620

2,314

87,934

As at
30 June
2026
RMB’000
(Unaudited)

As at
31 December
2025
RMB’000
(Audited)

87,218
76,862

70,300
95,940

164,080

166,240

At 31 December 2025
Cost
Accumulated depreciation

Net book amount

Lease liabilities

Current
Non-current

2026 Interim Report

33

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
7

INTANGIBLE ASSETS
Medical
licenses
RMB’000

Goodwill
RMB’000

Software
RMB’000

Total
RMB’000

286,967
(75,002)
(117,135)

377,939
—
(266,241)

37,666
(18,464)
(16,975)

702,572
(93,466)
(400,351)

Net book amount

94,830

111,698

2,227

208,755

(Unaudited)
Six months ended 30 June 2026
Opening net book amount
Amortisation charge

94,830
(2,381)

111,698
—

2,227
(599)

208,755
(2,980)

Closing net book amount

92,449

111,698

1,628

205,775

At 30 June 2026
Cost
Accumulated amortisation
Impairment charge

286,967
(77,383)
(117,135)

377,939
—
(266,241)

37,638
(19,035)
(16,975)

702,544
(96,418)
(400,351)

92,449

111,698

1,628

205,775

At 31 December 2025
Cost
Accumulated amortisation
Impairment charge

Net book amount
Note:

34

For the six-month period ended 30 June 2026, the Group disposed certain fully amortised software.

New Century Healthcare Holding Co. Limited

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
8

TRADE RECEIVABLES
As at
30 June
2026
RMB’000
(Unaudited)

As at
31 December
2025
RMB’000
(Audited)

Trade receivables from contracts with customers
Less: allowance for impairment of trade receivables

24,076
(832)

31,996
(958)

Trade receivables — net

23,244

31,038

The carrying amounts of the Group’s trade receivables are denominated in RMB and approximate
their fair values. The majority of trade receivables were due from commercial insurance companies
and government’s insurance schemes.
As at 30 June 2026 and 31 December 2025, the aging analysis of the trade receivables based on
demand note date was as follows:

Up to 3 months
4–6 months
7 months–1 year
Over 1 year

As at
30 June
2026
RMB’000
(Unaudited)

As at
31 December
2025
RMB’000
(Audited)

20,174
1,747
785
1,370

26,588
2,184
1,606
1,618

24,076

31,996

2026 Interim Report

35

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
9

BALANCES WITH RELATED PARTIES

Amounts due from related parties
Beijing Jiahua Likang Health Investment Co., Ltd.
(“Jiahua Likang”) (i)
Beijing Bairui Kangchen Technology Development Co., Ltd.
(“Bairui Kangchen”) (ii)
Shanghai New Century Pujin Pediatric Clinic Outpatient
Service Co., Ltd.
Others

Less: provision for impairment

As at
30 June
2026
RMB’000
(Unaudited)

As at
31 December
2025
RMB’000
(Audited)

133,268

133,268

27,463

27,463

1,850
197

1,850
148

162,778

162,729

(157,845)

(149,677)

4,933

13,052

Relationship between the above related parties and the Group are set out in Note 18.

36

(i)

Amounts due from Jiahua Likang primarily arose from hospital consulting services provided by the Group. Such
receivables have been defaulted by Jiahua Likang historically and the collection has been stagnated. After
consideration of the financial condition of Jiahua Likang based on the available financial information to the Group, the
possibility of default and loss given default, loss allowance of RMB128,532,000 was provided for amounts due from
Jiahua Likang as at 30 June 2026 (31 December 2025: RMB120,364,000).

(ii)

Amounts due from Bairui Kangchen represent the loan principals and relevant interests with an annual interest rate
at 4.75%. Such loan principals and relevant interests have been defaulted by Bairui Kangchen historically and the
collection has been stagnated. After considering the possibility of default and loss given default, loss allowance of
RMB27,463,000 was fully provided for amounts due from Bairui Kangchen as at 30 June 2026 (31 December 2025:
RMB27,463,000).

New Century Healthcare Holding Co. Limited

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
9

BALANCES WITH RELATED PARTIES (CONTINUED)

Amounts due to related parties
— Trade
Beijing Children’s Hospital, Capital Medical University
Beijing MuHe JiaYe Health Management Co., Ltd.
Chengdu Women’s and Children’s Central Hospital

— Non-trade
Beijing Children’s Hospital, Capital Medical University
Others

10

As at
30 June
2026
RMB’000
(Unaudited)

As at
31 December
2025
RMB’000
(Audited)

254
3,713
103

229
1,893
106

4,070

2,228

346
83

510
59

429

569

4,499

2,797

As at
30 June
2026
RMB’000
(Unaudited)

As at
31 December
2025
RMB’000
(Audited)

217,497

—

RESTRICTED CASH

Restricted cash

As disclosed in Note 12(i), RMB217,497,000 of the Group’s bank accounts as at 30 June 2026 were
frozen. Management expects the restrictions on the frozen funds to be released within the next
twelve months based on current circumstances, and accordingly, the restricted cash have been
classified as current assets in the condensed consolidated financial information.

2026 Interim Report

37

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
11

TRADE PAYABLES
As at 30 June 2026 and 31 December 2025, the aging analysis of the trade payables based on
demand note date was as follows:
As at
30 June
2026
RMB’000
(Unaudited)

As at
31 December
2025
RMB’000
(Audited)

13,042
5,486
2,739
1,168

20,573
2,611
372
1,019

22,435

24,575

As at
30 June
2026
RMB’000
(Unaudited)

As at
31 December
2025
RMB’000
(Audited)

65,228
62,125
27,797
24,538
8,927
1,997
11,649

72,420
—
28,998
20,273
9,565
2,239
10,423

202,261

143,918

Up to 3 months
4–6 months
7 months–1 year
Over 1 year

12

ACCRUALS, OTHER PAYABLES AND PROVISIONS

Advance from customers
Provision (i)
Accrued employee benefits
Accrued operating expenses
Other payables to suppliers of plant and equipment
Duty and tax payable other than corporate income tax
Others

38

New Century Healthcare Holding Co. Limited

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
12

ACCRUALS, OTHER PAYABLES AND PROVISIONS (CONTINUED)
(i)

13

As disclosed in the Company’s announcement dated 14 August 2026, certain bank accounts of the Group,
amounting to approximately RMB217,497,000, were frozen primarily in connection with an ongoing investigation (the
“Investigation”) by the Beijing Mentougou Supervisory Committee (北京市門頭溝區監察委員會) (the “Supervisory
Committee”) involving one of the Company’s cooperative partners (the “Freeze Action”). The Investigation is not
initiated against the Group, its directors or its senior management. Based on the Group’s assessment and advice
from external legal counsel, the Group has not identified any breach of the public-private-partnership arrangement
between the Group and the cooperative partners. However, according to the communication between the Supervisory
Committee and the Company, there exist different views on certain matters relating to the Group’s public-privatepartnership arrangement, which involves the use of premises owned by the cooperative partner. Based on the Group’s
latest communications with the Supervisory Committee, the Group has recognised a provision of approximately
RMB62,125,000 for probable payment to resolve the matter. Such amount represents management’s best estimate of
the payment amount which was calculated based on certain premises related costs incurred by the cooperative partner
plus the financing cost of such expenditure, and the latest communications with the Supervisory Committee. As of
the date of approval of this interim condensed consolidated financial information, the Investigation remains ongoing,
and uncertainty remains regarding the outcome of the Investigation and the resolution of the matter, including the
final payment amount and the timing and extent of the release of the frozen funds. Consequently, the aforementioned
provision recognised may be subject to further adjustment upon completion of the Investigation.

OTHER LOSSES — NET
Six months ended 30 June
2026
2025
RMB’000
RMB’000
(Unaudited)
(Unaudited)
Provision (Note 12(i))
Others

62,125
(589)

—
176

61,536

176

2026 Interim Report

39

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
14

INCOME TAX EXPENSE
Six months ended 30 June
2026
2025
RMB’000
RMB’000
(Unaudited)
(Unaudited)
Current income tax:
— PRC corporate income tax
Deferred income tax

(a)

5,859
36

9,200
8,519

5,895

17,719

Cayman Islands income tax
The Company is incorporated in the Cayman Islands as an exempted company with limited
liability under the Companies Act of Cayman Islands and accordingly, is exempted from
Cayman Islands income tax.

(b)

PRC Corporate Income Tax
Subsidiaries established and operating in Mainland China are subject to PRC corporate
income tax at the rate of 25%.

(c)

Hong Kong profits tax
Hong Kong profits tax rate is 16.5% for the six months ended 30 June 2026 and 2025. No
Hong Kong profit tax was provided for as there was no estimated assessable profit that was
subject to Hong Kong profits tax for the six months ended 30 June 2026 and 2025.

40

New Century Healthcare Holding Co. Limited

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
15

LOSS PER SHARE
(a)

Basic
Basic loss per share is calculated by dividing the loss attributable to owners of the Company
by the weighted average number of ordinary shares in issue and excluding shares held for
restricted share award scheme.
Six months ended 30 June
2026
2025
(Unaudited)
(Unaudited)
Loss attributable to owners of the Company
(RMB’000)

(84,959)

(65,234)

Weighted average number of ordinary shares in issue
(in thousands) (i)

483,184

483,184

(0.18)

(0.14)

Basic loss per share (in RMB)
(i)

On 25 July 2017, the Company granted 9,000,000 restricted shares to certain employees pursuant to a
restricted share award scheme, among which 4,767,500 shares were forfeited and then held by the trustee of
the restricted share award scheme. Those forfeited shares were excluded from the calculation of basic loss per
share.
As at 30 June 2026, the Company held 2,073,500 (2025: 2,073,500) shares of the Company for employee share
scheme. All these shares were excluded from calculation of basic loss per share as no shares were granted to
employees and outstanding as at 30 June 2026.

(b)

Diluted
For the six months ended 30 June 2026 and 2025, diluted loss per share is equal to the basic
loss per share as there were no potential dilutive shares.

2026 Interim Report

41

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
16

DIVIDENDS
Six months ended 30 June
2026
2025
RMB’000
RMB’000
(Unaudited)
(Unaudited)
Dividends paid during the interim period of
HKD0.0221 per fully paid ordinary share (i)

17

—

7,996

(i)

Pursuant to the shareholders resolution of the Company dated 22 May 2025, a final dividend amounting to
HKD10,830,000 (approximate RMB9,948,000) of HKD0.0221 per fully paid ordinary share was declared. The dividends
attributable to shares held by the trustee of the restricted share award scheme and shares held for employee share
scheme were eliminated in the condensed consolidated statement of financial position of the Group, dividends of
HKD10,678,000 (approximate RMB9,809,000) after elimination were recorded in the condensed consolidated statement
of changes in equity of the Group, accordingly. For the six months ended 30 June 2025, HKD8,705,000 (approximate
RMB7,996,000) of the final dividend was paid by the Company. The remaining dividend was recognised in accruals,
other payables and provisions in the interim condensed consolidated financial information.

(ii)

The board of directors of the Company does not resolve to declare an interim dividend for the six months ended 30
June 2026.

COMMITMENTS
Capital commitments
The following is the details of capital expenditure contracted for but not provided in the consolidated
financial statements.

Contracted but not provided for
— Property, plant and equipment

42

New Century Healthcare Holding Co. Limited

As at
30 June
2026
RMB’000
(Unaudited)

As at
31 December
2025
RMB’000
(Audited)

139

151

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
18

SIGNIFICANT RELATED PARTY TRANSACTIONS
(a)

Significant transactions with related parties
The directors of the Company are of the view that the following parties that had transactions or
balances with the Group are related parties:
Name

Relationship with the Group

Jiahua Likang (北京嘉華麗康醫療投資管理有 Significantly influenced by the controlling
shareholder of the Company
限公司)
Beijing Children’s Hospital, Capital Medical Significant influence on a subsidiary of the
University (首都醫科大學附屬北京兒童醫院)
Company
Beijing MuHe JiaYe Health Management Co., Controlled by Ms. ZHAO Juan, the spouse of
Ltd. (北京睦合嘉業健康管理有限公司)
the controlling shareholder of the Company
Bairui Kangchen (北京柏瑞康辰科技發展有限 Controlled by a shareholder of the Company
公司)
Shanghai New Century Pujin Pediatric Clinic Controlled by a shareholder of the Company
Outpatient Service Co., Ltd. (上海新世紀浦
錦兒科門診部有限公司)
Chengdu Women’s and Children’s Central
Significant influence on a subsidiary of the
Hospital (成都市婦女兒童中心醫院)
Company
The following significant transactions were carried out between the Group and its related
parties. In the opinion of the directors of the Company, the related party transactions were
carried out in the normal course of business and at terms negotiated between the Group and
the respective related parties.
Six months ended 30 June
2026
2025
RMB’000
RMB’000
(Unaudited)
(Unaudited)
Purchase of medical examination services, laboratory
test service, pharmaceuticals, and parking services
— Beijing Children’s Hospital, Capital Medical
University
— Chengdu Women’s and Children’s Central Hospital
Purchase of cleaning services
— Beijing MuHe JiaYe Health Management Co., Ltd.
Lease payment of hospital premises
— Chengdu Women’s and Children’s Central
Hospital (i)
(i)

1,244
1

4,320
4

4,654

4,871

—

5,250

Lease of hospital premises include the rental fee paid to Chengdu Women’s and Children’s Central Hospital.

2026 Interim Report

43

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
18

SIGNIFICANT RELATED PARTY TRANSACTIONS (CONTINUED)
(b)

Loans to related parties
Six months ended 30 June
2026
2025
RMB’000
RMB’000
(Unaudited)
(Unaudited)
Beginning of the period
Interest expense

Less: provision for impairment
End of the period

(c)

29,313
—

29,313
—

29,313

29,313

(29,313)

(29,313)

—

—

Period/year-end balances arising from sales/purchases of services
Balances with related parties as at 30 June 2026 and 31 December 2025 are disclosed in
Note 9.

(d)

Key management compensation
Key management includes directors and senior managements. The compensation paid or
payable to key management for employee services was shown as below:
Six months ended 30 June
2026
2025
RMB’000
RMB’000
(Unaudited)
(Unaudited)

44

Salaries and bonus
Contribution to pension plans
Welfare and other expenses

5,408
103
108

6,360
102
144

Total

5,619

6,606

New Century Healthcare Holding Co. Limited

Notes to the Interim Condensed Consolidated
Financial Information (Continued)
18

SIGNIFICANT RELATED PARTY TRANSACTIONS (CONTINUED)
(e)

Provision of premises by a related party
The Group established BNC Children’s Hospital based on a public-private-partnership
arrangement with BCH, a public hospital in Beijing, the PRC. Pursuant to this cooperation
agreements, BCH agreed to provide premises on its allocated land for the business operation
of BNC Children’s Hospital without extra charges to each other.

19

CONTINGENCIES
As of 30 June 2026, the Group did not have any contingent liabilities that would have a material
impact on the financial position or results of operations.

20

EVENT OCCURRING AFTER REPORTING PERIOD
Except for those disclosed elsewhere in this interim condensed consolidated financial information,
there were no material subsequent events occurred during the period from 30 June 2026 to the
approval date of this interim condensed consolidated financial information by the board of directors
of the Company.

2026 Interim Report

45

Definitions
“Audit Committee”

the audit committee of the Board;

“Beijing Children’s Hospital” or Beijing Children’s Hospital, Capital Medical University (首都醫科大學附
“BCH”
屬北京兒童醫院), a connected person of the Company on the subsidiary
level only due to its 35.0% interest in BNC Children’s Hospital;
“BNC Children’s Hospital”

Beijing New Century Children’s Hospital Co., Ltd. (北 京 新 世 紀 兒 童 醫
院有限公司), a company incorporated in the PRC with limited liability
on December 13, 2002, which is a non-wholly-owned subsidiary of the
Company;

“Board” or “Board of Directors” the board of Directors of the Company;

46

“BVI”

the British Virgin Islands;

“Century Star”

Century Star Investment Co., Ltd., a company incorporated in the BVI
with limited liability on August 14, 2015 and is wholly-owned by Mr. Jason
ZHOU;

“CG Code”

Corporate Governance Code as set out in Appendix C1 to the Listing
Rules;

“China” or “PRC”

the People’s Republic of China; for the purpose of this interim report only,
references to “China” or the “PRC” do not include Taiwan, the Macau
Special Administrative Region and Hong Kong;

“Company”

New Century Healthcare Holding Co. Limited (新世紀醫療控股有限公司), a
company incorporated in the Cayman Islands with limited liability on July
31, 2015, the Shares of which are listed on the Main Board of the Stock
Exchange;

“Directors”

directors of the Company;

“DRG/DIP Payment”

Diagnosis Related Group (DRG) payment refers to the payment by
the diagnosis-related grouping of diseases, where, according to the
diagnosis of diseases, treatment modalities and individual characteristics
of patients, etc., different diagnosis-related groups are established,
each of which a uniform payment standard will be determined for; and
Diagnosis-Intervention Packet (DIP) payment refers to the payment
by disease point value, which is calculated based on the total annual
medical insurance payment, the medical insurance payment ratio and
the total point of each medical institution’s cases to form the payment
standard;

New Century Healthcare Holding Co. Limited

Definitions (Continued)

“Employee Share Scheme”

the restricted share award scheme approved and adopted by the
Company on August 28, 2020;

“Group”, “our Group”, “we” or
“us”

the Company and its subsidiaries;

“HKD” or “HK$”

Hong Kong dollars, the lawful currency of Hong Kong;

“HKFRS”

Hong Kong Financial Reporting Standards;

“Hong Kong” or “HK”

the Hong Kong Special Administrative Region of the PRC;

“IPO”

the initial public offering of the Shares and listing of the Group on the
Stock Exchange;

“Jiahua Likang”

Beijing Jiahua Likang Medical Investment and Management Co., Ltd. (北
京嘉華麗康醫療投資管理有限公司), a company incorporated in the PRC
with limited liability on April 16, 2009, and is a connected person of the
Company;

“JoeCare”

JoeCare Investment Co., Ltd., a company incorporated in the BVI with
limited liability on July 16, 2015 and wholly-owned by Mr. Jason ZHOU.
JoeCare is one of our controlling Shareholders;

“Latest Practicable Date”

August 31, 2026, being the latest practicable date for the purpose of
ascertaining certain information contained in this interim report;

“Listing Rules”

the Rules Governing the Listing of Securities on the Stock Exchange, as
amended and supplemented from time to time;

“Model Code”

the Model Code for Securities Transactions by Directors of Listed Issuers
contained in Appendix C3 to the Listing Rules;

“Nomination Committee”

the nomination committee of the Board;

“Remuneration Committee”

the remuneration committee of the Board;

“RMB”

Renminbi, the lawful currency of the PRC;

“RSA Scheme”

the restricted share award scheme approved and adopted by the
Company on August 29, 2016;

2026 Interim Report

47

Definitions (Continued)

“SFO”

the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong);

“Shareholder(s)”

holder(s) of the Share(s);

“Share(s)”

ordinary share(s) of US$0.0001 each in the issued capital of the
Company or if there has been a subsequent sub-division, consolidation,
reclassification or reconstruction of the share capital of the Company,
shares forming part of the ordinary equity share capital of the Company;

“Stock Exchange”

The Stock Exchange of Hong Kong Limited;

“Supervisory Committee”

Beijing Mentougou Supervisory Committee (北京市門頭溝區監察委員會);

“US$” or “USD”

United States dollars, the lawful currency of the United States;

“YoY”

year-on-year; and

“%”

percent.

In this interim report, the terms “connected person”, “controlling shareholder” and “subsidiary” shall have
the meanings given to such terms in the Listing Rules, unless the context otherwise requires.

48

New Century Healthcare Holding Co. Limited

2026
中

期

報

告

新世紀醫療控股有限公司

（於開曼群島註冊成立的有限公司）
股份代號：01518

New Century Healthcare Holding Co. Limited

New Century Healthcare Holding Co. Limited
新世紀醫療控股有限公司

New Century Healthcare Holding Co. Limited
新世紀醫療控股有限公司
(Incorporated in the Cayman Islands with limited liability)
Stock Code: 01518

2026
INTERIM REPORT

股份代號 Stock Code: 01518

中期報告 2026 INTERIM REPORT

目錄
公司資料

2

管理層討論與分析

4

其他資料

13

中期財務資料的審閱報告

20

中期簡明綜合財務狀況表

22

中期簡明綜合全面收益表

24

中期簡明綜合權益變動表

25

中期簡明綜合現金流量表

26

中期簡明綜合財務資料附註

27

釋義

46

本中期報告的中英文本如有任何歧義，概以英文本為準。

公司資料
董事

提名委員會

執行董事：

姜彥福先生（主席）
吳冠雄先生
辛紅女士

Jason ZHOU先生（董事長兼首席執行官）
辛紅女士（高級副總裁兼首席運營官）
徐瀚先生（高級副總裁兼首席財務官）

非執行董事：
王思業先生（於二零二六年六月三十日辭任）
李素玉女士
解強先生
趙欽先生（於二零二六年四月二十日獲委任）
邱翔先生（於二零二六年七月二日獲委任）

獨立非執行董事：
吳冠雄先生
孫洪斌先生
姜彥福先生
馬晶博士
楊躍林先生（於二零二六年四月二十日調任為
獨立非執行董事）

審核委員會
孫洪斌先生（主席）
姜彥福先生
楊躍林先生

薪酬委員會
吳冠雄先生（主席）
楊躍林先生
馬晶博士

授權代表
徐瀚先生
賈曉鋒先生

公司秘書
賈曉鋒先生

中國總部及主要營業地點
中國
北京
西城區
南禮士路56號

香港主要營業地點
香港
夏愨道18號
海富中心
第一座六樓603A室

註冊辦事處
c/o Walkers Corporate Limited
190 Elgin Avenue
George Town
Grand Cayman KY1-9008
Cayman Islands

二零二六年中期報告

2

公司資料（續）

開曼群島證券登記總處及過戶代理

法律顧問

Walkers Corporate Limited
190 Elgin Avenue
George Town
Grand Cayman KY1-9008
Cayman Islands

中倫律師事務所有限法律責任合夥
香港
中環康樂廣場一號
怡和大廈4樓

主要往來銀行
香港證券登記處
香港中央證券登記有限公司
香港
灣仔
皇后大道東183號
合和中心
17樓1712–1716號舖

3

中國銀行北京金融街支行
北京
西城區
金融大街27號
投資廣場二層

股份代號

核數師

01518

羅兵咸永道會計師事務所
執業會計師及註冊公眾利益實體核數師
香港中環
太子大廈22樓

公司網站

新世紀醫療控股有限公司

www.ncich.com.cn

管理層討論與分析
業務概覽及展望
本集團的業務錄得收益人民幣249.0百萬元，較去年同期同比減少18.2%。我們的醫療服務收益為人民幣245.5
百 萬 元，同 比 減 少18.4%，其 中，兒 科 服 務 收 益 為 人 民 幣204.6百 萬 元，同 比 減 少20.0%，佔 總 醫 療 服 務 收 益
83.3%。兒 科 門 診 服 務 收 益 為 人 民 幣128.0百 萬 元，同 比 減 少19.7%；兒 科 門 診 服 務 為70,699人 次，同 比 減 少
19.7%。兒 科 住 院 服 務 收 益 為 人 民 幣64.3百 萬 元，同 比 減 少20.1%；兒 科 住 院 服 務 為2,197人 次，同 比 減 少
17.1%。
於二零二六年上半年，我們的婦產科業務實現收益人民幣40.9百萬元，同比減少9.7%。婦產科門診服務收益
為人民幣24.3百萬元，同比增加5.7%；婦產科門診服務為13,163人次，同比減少14.0%。婦產科住院服務收益
為人民幣16.6百萬元，同比減少25.6%，婦產科住院服務為588人次，同比減少22.6%。
作為北京地區以及全國領先的私立兒婦產醫療服務提供者，我們為客戶提供兒婦產一體化的醫療服務，並且
以提供全面的、深度的兒科醫療服務為特色。二零二六年上半年相對二零二五年同期營收有大幅下降，主要
原因是兒科和婦產科醫療服務的需求下降所致。因近幾年整體出生人口減少，導致集團服務的嬰幼兒數量逐
年下降，二零二六年內科感染性疾病的發病率較去年明顯下降，所以集團的小兒內科門診和住院量亦較去年
同期大幅降低，相關收入下降顯著。兒科感染醫療服務需求減少進一步導致客戶續費會員和商業保險的意願
降低，為此本集團多個院區推出會員卡分層和長期忠誠計劃以應對這一情況。
截至二零二六年六月三十日止六個月，本公司擁有人應佔虧損為人民幣85.0百萬元，主要是由於二零二六年上
半年醫療業務需求下跌及因就本集團若干銀行賬戶被凍結（主要涉及監察委員會進行的調查）的預期付款金額
而計提撥備產生的其他虧損大幅增加所致。

二零二六年中期報告

4

管理層討論與分析（續）

行業展望及本集團戰略
國家高度重視婦女兒童的全面健康發展。二零二一年九月國務院發佈《中國婦女發展綱要（2021–2030年）》和
《中國兒童發展綱要（2021–2030年）》，對促進我國婦女兒童健康事業實現更高質量發展具有十分重要的意義，
二零二二年四月發佈的《國家衛生健康委關於印發貫徹2021–2030年中國婦女兒童發展綱要實施方案的通知》
具有進一步的指導意義。我國婦女兒童健康工作仍面臨服務資源總量不足，分佈不均，優質資源短缺等諸多
挑戰，特別是生育政策調整以來，高齡、多產次產婦比例增加，妊娠期併發症、合併症和出生缺陷發生風險增
大，新生兒安全和兒童保健服務需求進一步增加，帶動了(i)市場對婦女兒童提供全週期、全過程、全方位醫療
健康服務的顯著需求增長；及(ii)對醫療服務能力、服務模式、服務理念都提出了更高要求。
為進一步推動醫保精細化管理，提高醫保基金使用效率，二零二一年十一月二十六日，國家醫療保障局印發
了《DRG/DIP支付方式改革三年行動計劃》的通知，明確提出到二零二四年底全國所有統籌地區全部開展DRG/
DIP付費方式改革工作，到二零二五年底，DRG/DIP支付方式覆蓋所有符合條件的開展住院服務的醫療機構，
基本實現病種、醫保基金全覆蓋。定點醫療機構全面推行DRG/DIP支付方式，對民營高端醫療機構的醫療技術
水平提出了更高的要求，使其優勢也進一步凸顯，吸引更多追求更優質醫療服務、病程長、病情複雜、擁有中
高端商業醫療保險的人群。
本集團秉承之前擬定的發展戰略，擬於二零二六年下半年繼續通過實施以下措施把握行業商機：

5

•

因應國內基本醫療保險支付政策的變化，本集團持續在中高端商業保險機構中進行品牌推廣，提升目標
客戶群的覆蓋率。

•

推動會員卡的分層策略，降低長期會員的續費門檻，保證續費率，穩定按家庭單位計算的會員基數和服
務觸達率。

•

專注於兒科亞專科建設，重構兒童保健服務的產品線。

•

優化人員結構，提升人員效率。

新世紀醫療控股有限公司

管理層討論與分析（續）

財務回顧
分部收益
我們的收益主要來自提供醫療服務（包括兒科服務及婦產科服務）。下表載列所示期間收益的明細：
截至六月三十日止六個月
二零二五年

二零二六年

（人民幣千元，百分比除外）
醫療服務
其他(1)

245,505
3,453

98.6%
1.4%

301,005
3,523

98.8%
1.2%

總計

248,958

100.0%

304,528

100.0%

(1)

其他主要包括分部間抵銷後來自醫療機構自助餐廳及禮品店銷售以及在線醫療服務的收益。

醫療服務
我們從提供醫療服務取得的收益包括醫療服務費及來自藥品銷售的收益。下表載列於所示期間我們所提供醫
療服務的收益、收益成本、毛利及毛利率：
截至六月三十日止六個月
二零二六年

二零二五年

（人民幣千元，百分比除外）
收益
收益成本
毛利(1)
毛利率(2)

245,505
183,366
62,139
25.3%

301,005
209,856
91,149
30.3%

附註：
(1)

毛利的計算方法是從收益中扣除收益成本。

(2)

毛利率的計算方法是將毛利除以收益再乘以100%。

二零二六年中期報告

6

管理層討論與分析（續）

下表載列於所示期間兒科及婦產科服務收益的組成：
截至六月三十日止六個月
二零二五年

二零二六年

（人民幣千元，百分比除外）
兒科服務
婦產科服務

204,581
40,924

82.2%
16.4%

255,693
45,312

84.0%
14.8%

總計

245,505

98.6%

301,005

98.8%

我們的醫療服務亦可按向住院病人及門診病人提供的服務及銷售以及會員卡銷售分類。下表載列於所示期間
與該分類有關的收益及若干數據：
截至六月三十日止六個月
二零二六年

二零二五年

2,785
29,073

3,411
30,134

83,862
1,817

103,344
1,766

住院醫療服務收益（人民幣千元）
門診醫療服務收益（人民幣千元）
會員卡銷售確認收益（人民幣千元）

80,967
152,342
12,196

102,786
182,520
15,699

兒科服務
住院服務
住院人次
住院人均消費（人民幣元）

2,197
29,285

2,651
30,368

門診服務
門診人次
門診人均消費（人民幣元）

70,699
1,811

88,045
1,811

住院兒科服務收益（人民幣千元）

64,339

80,505

本集團
住院服務
住院人次
住院人均消費（人民幣元）
門診服務
門診人次
門診人均消費（人民幣元）

7

新世紀醫療控股有限公司

管理層討論與分析（續）

截至六月三十日止六個月
二零二六年

二零二五年

門診兒科服務收益（人民幣千元）
會員卡銷售確認收益（人民幣千元）

128,046
12,196

159,489
15,699

婦產科服務
住院服務
住院人次
住院人均消費（人民幣元）

588
28,279

760
29,317

門診服務
門診人次
門診人均消費（人民幣元）

13,163
1,846

15,299
1,505

住院婦產科服務收益（人民幣千元）
門診婦產科服務收益（人民幣千元）

16,628
24,296

22,281
23,031

截至二零二六年六月三十日止六個月提供醫療服務產生的收益為人民幣245.5百萬元，同比減少18.4%，佔本
集團總收益的98.6%。該項減少主要由於(i)門診及住院醫療服務收益分別減少16.5%及21.2%；及(ii)會員卡銷
售確認收益同比減少22.3%所致。
具體而言，我們的醫療服務包括兒科服務及婦產科服務，截至二零二六年六月三十日止六個月，我們從該等
服務分別獲得收益人民幣204.6百萬元及人民幣40.9百萬元，與上一財政年度同期相比，分別同比減少20.0%
及9.7%。截至二零二六年六月三十日止六個月，我們錄得(i)兒科住院服務合計2,197人次及兒科門診服務合計
70,699人次，分別同比減少17.1%及19.7%；及(ii)婦產科住院服務合計588人次及婦產科門診服務合計13,163
人次，分別同比減少22.6%及14.0%。
我們醫療服務的收益成本主要包括僱員福利開支、存貨及耗材成本、諮詢費、折舊及攤銷、外包檢查及檢驗費
及水電費、維修費及辦公開支。截至二零二六年六月三十日止六個月，我們醫療服務的收益成本為人民幣183.4
百萬元，同比減少12.6%。

二零二六年中期報告

8

管理層討論與分析（續）

毛利及毛利率
我們於截至二零二六年六月三十日止六個月的毛利為人民幣61.2百萬元，而我們上一財政年度同期的毛利為
人民幣89.6百萬元，同比減少31.7%，主要是由於兒科及婦產科醫療服務的需求減少。我們的毛利率由截至二
零二五年六月三十日止六個月的29.4%減少至截至二零二六年六月三十日止六個月的24.6%。

銷售開支
我們於截至二零二六年六月三十日止六個月的銷售開支為人民幣27.7百萬元，而我們上一財政年度同期的銷
售開支為人民幣33.9百萬元，同比減少18.3%。該項減少主要是由於僱員福利開支減少。

行政開支
我們於截至二零二六年六月三十日止六個月的行政開支為人民幣55.0百萬元，而我們上一財政年度同期的行
政開支為人民幣59.1百萬元，同比減少6.9%。該項減少主要是由於二零二六年我們持續採取措施降低開支及
提升營運效率。

金融資產減值虧損
於截至二零二六年六月三十日止六個月，本集團錄得金融資產減值虧損淨額人民幣9.2百萬元，主要是由於應
收關聯方款項的減值虧損所致。

其他虧損 — 淨額
於截至二零二六年六月三十日止六個月，我們就日期為二零二六年八月十四日的公告所披露的凍結行動計提
撥備人民幣62.1百萬元，而截至二零二五年六月三十日止六個月的其他虧損為人民幣0.2百萬元。

9

新世紀醫療控股有限公司

管理層討論與分析（續）

財務收入及開支
我們於截至二零二六年六月三十日止六個月的財務收入由截至二零二五年六月三十日止六個月的人民幣1.7百
萬元減少至人民幣0.5百萬元，主要是由於利息收入減少所致。我們於截至二零二六年六月三十日止六個月的
財務成本為人民幣4.0百萬元，主要包括與租賃付款相關的利息開支。

所得稅開支
本集團於截至二零二六年六月三十日止六個月產生所得稅開支人民幣5.9百萬元，而我們上一財政年度同期的
所得稅開支為人民幣17.7百萬元，同比減少66.7%。該項減少主要是由於本集團錄得虧損。

截至二零二六年六月三十日止六個月的虧損
截至二零二六年六月三十日止六個月，我們錄得虧損人民幣101.4百萬元，而截至二零二五年六月三十日止六
個月的虧損為人民幣58.8百萬元。

財務狀況
存貨
我們的存貨由截至二零二五年十二月三十一日的人民幣12.8百萬元減少20.3%至截至二零二六年六月三十日的
人民幣10.2百萬元，主要是由於本集團於二零二六年上半年的醫療業務下降導致必要醫療存貨減少。

貿易應收款項
我們的貿易應收款項由截至二零二五年十二月三十一日的人民幣31.0百萬元減少25.2%至截至二零二六年六月
三十日的人民幣23.2百萬元，主要是由於醫療業務同比減少。

貿易應付款項
我們的貿易應付款項由截至二零二五年十二月三十一日的人民幣24.6百萬元減少8.9%至截至二零二六年六月
三十日的人民幣22.4百萬元，主要是由於臨近二零二六年六月三十日藥品及醫療耗材的使用減少以及採購量
減少。

流動性及資本來源
受限制現金
於二零二六年六月三十日，我們的受限制現金為人民幣217.5百萬元，主要涉及監察委員會對本公司其中一名
合作夥伴正在進行的調查。基於現時情況，本集團預計對凍結資金的限制將於未來十二個月內解除。

現金及現金等價物
截至二零二六年六月三十日，我們的現金及現金等價物為人民幣61.5百萬元，較我們截至二零二五年十二月
三十一日的現金及現金等價物人民幣230.3百萬元減少73.3%。

二零二六年中期報告

10

管理層討論與分析（續）

重大投資
截至二零二六年六月三十日止六個月，本集團並無持有任何重大投資。

收購及出售
截至二零二六年六月三十日止六個月，本集團並無收購或出售附屬公司、聯營公司及合營公司。

資本開支
我們的資本開支主要包括以下各項的開支：
(i)

屬物業、廠房及設備的醫療設備、傢俱及辦公設備；及

(ii)

與營運有關的電腦軟件等無形資產。

於截至二零二六年六月三十日止六個月的資本開支金額為人民幣1.3百萬元，較上一財政年度同期的人民幣5.3
百萬元同比減少75.5%。
該項減少主要是由於二零二五年我們為業務發展採購若干大型物業、廠房及設備，而二零二六年上半年該類
採購有所減少。

債務
借款
截至二零二六年六月三十日及二零二五年十二月三十一日，我們並無任何借款。

匯率波動風險
我們主要在中國運營，大多數交易以人民幣結算。當已確認資產及負債乃以實體功能貨幣以外的貨幣計值時
會產生外匯匯率風險。截至二零二六年六月三十日，我們的資產及負債主要以人民幣計值，惟若干現金及現
金等價物乃以美元或港元計值以及應付股息乃以港元計值。我們並未使用任何衍生金融工具對沖我們的外匯
風險敞口，但將會持續密切監測該風險。

或然負債
截至二零二六年六月三十日，概無對我們的財務狀況或經營業績將有重大影響的任何或然負債或擔保。

11

新世紀醫療控股有限公司

管理層討論與分析（續）

資產質押
截至二零二六年六月三十日，我們並無質押任何資產。

合約義務
截至二零二六年六月三十日，概無對我們的財務狀況或經營業績將有重大影響的任何合約義務。

金融工具
我們的主要金融工具包括貿易應收款項、其他應收款項及按金（不包括預付款項）、應收關聯方款項、受限制
現金、現金及現金等價物、貿易應付款項、其他應付款項（不包括非金融負債）、應付關聯方款項及租賃負債。
我們的管理層將管理該等風險，以確保及時和有效地採取適當措施。

資產負債比率
截至二零二六年六月三十日及二零二五年十二月三十一日，我們並無任何借款，故資產負債比率（按借款總額
除以總權益計算）並不適用。

僱員及薪酬政策
截至二零二六年及二零二五年六月三十日，我們分別擁有1,079名及1,233名僱員。截至二零二六年及二零二五
年六月三十日止六個月，包括董事薪酬在內的員工薪酬開支總額分別為人民幣140.6百萬元及人民幣161.1百
萬元。薪酬乃參照有關員工的表現、技能、資格及經驗並根據通行的行業慣例而釐定。除工資付款以外，其他
員工福利包括由本集團作出的社會保險及住房公積金供款、績效獎金及酌情花紅。本集團亦已採納受限制股
份獎勵計劃及僱員股份計劃以吸引、挽留及激勵我們的主要僱員。
董事薪酬由薪酬委員會審核並由董事會批准。在釐定董事酬金時將考慮有關董事的經驗、職責與責任、時間
投入、於本公司的表現及通行市況。

報告期後事項
除本中期簡明綜合財務資料另有披露者外，本集團於二零二六年六月三十日至本報告日期期間概無重大事項。

中期股息
董事會不建議派發截至二零二六年六月三十日止六個月的中期股息。

二零二六年中期報告

12

其他資料
董事及主要行政人員於本公司或其相聯法團股份、相關股份及債權證的權益及淡
倉
截至二零二六年六月三十日，董事及本公司主要行政人員於本公司或任何相聯法團（定義見證券及期貨條例第
XV部）的股份、相關股份及債權證中擁有(a)根據證券及期貨條例第XV部第7及8分部的規定須知會本公司及聯
交所的權益及淡倉（包括根據證券及期貨條例相關條文彼等被當作或視為擁有的權益及淡倉）；或(b)須記錄於
根據證券及期貨條例第352條須予存置的登記冊的權益及淡倉；或(c)根據標準守則須知會本公司及聯交所的權
益及淡倉如下：

(a)

於股份的權益╱淡倉

董事或主要行政人員姓名 身份及權益性質

股份數目(1)

佔本公司權益
概約百分比

159,816,213

32.61%

Jason ZHOU先生(2)

受控法團權益

辛紅女士(3)

實益擁有人

180,000

0.04%

徐瀚先生(4)

實益擁有人

180,000

0.04%

附註：

13

1.

所有呈列權益均為好倉。

2.

JoeCare及Century Star各自的全部已發行股本均由Jason ZHOU先生直接持有。因此，Jason ZHOU先生被視為於JoeCare
持有的150,817,051股股份及Century Star持有的8,999,162股股份中擁有權益。

3.

根據受限制股份獎勵計劃已授出450,000股受限制股份予辛紅女士，其中180,000股已根據若干條件歸屬於辛紅女士，而其
中270,000股股份已失效。因此，辛紅女士於根據受限制股份獎勵計劃歸屬於其之180,000股受限制股份中擁有權益。

4.

根據受限制股份獎勵計劃已授出450,000股受限制股份予徐翰先生，其中180,000股已根據若干條件歸屬於徐瀚先生，而其
中270,000股股份已失效。因此，徐瀚先生於根據受限制股份獎勵計劃歸屬於其之180,000股受限制股份中擁有權益。

新世紀醫療控股有限公司

其他資料（續）

除上文所披露者外，截至二零二六年六月三十日，就董事或本公司主要行政人員所知，董事或本公司主要行
政人員概無於本公司或任何相聯法團（定義見證券及期貨條例第XV部）的股份、相關股份或債權證中擁有(a)根
據證券及期貨條例第XV部第7及8分部的規定須知會本公司及聯交所的任何權益或淡倉（包括根據證券及期貨
條例相關條文彼等被當作或視為擁有的權益及淡倉）；或(b)根據證券及期貨條例第352條須記錄於該條所指登
記冊的任何權益或淡倉；或(c)根據標準守則須知會本公司及聯交所的任何權益或淡倉。

主要股東於股份及相關股份中擁有的權益及淡倉
截至二零二六年六月三十日，據任何董事或本公司主要行政人員所知，下列人士（董事及本公司主要行政人員
除外）於股份或相關股份中擁有根據證券及期貨條例第XV部第2及3分部條文須向本公司披露的權益及╱或淡
倉或須記錄於本公司根據證券及期貨條例第336條須予存置的登記冊的權益及╱或淡倉：

股份數目

佔本公司權益
概約百分比

實益擁有人
實益擁有人

150,817,051
57,740,181

30.8%
11.8%

受控法團權益
實益擁有人
受控法團權益
受控法團權益
受控法團權益
受控法團權益
實益擁有人
受控法團權益
受控法團權益

57,740,181
31,562,713
31,562,713
31,562,713
31,562,713
31,562,713
31,444,000
31,444,000
31,444,000

11.8%
6.4%
6.4%
6.4%
6.4%
6.4%
6.4%
6.4%
6.4%

股東名稱╱姓名

身份及權益性質

JoeCare(1)
通用技術集團香港國際資本有限公司
（「通用技術香港資本」）(2)
中國通用技術（集團）控股有限責任公司(2)
安怡和康（天津）投資合夥企業（有限合夥）(3)
博裕廣渠（上海）投資管理有限公司(3)
博裕（上海）股權投資管理有限責任公司(3)
夏美英(3)
黃愛蓮(3)
中國人壽再保險有限責任公司(4)
中國再保險（集團）股份有限公司(4)
中央匯金投資有限責任公司(4)

二零二六年中期報告

14

其他資料（續）

附註：
1.

JoeCare的 全 部 已 發 行 股 本 由Jason ZHOU先 生 直 接 持 有。因 此，JoeCare持 有 的150,817,051股 股 份 已 包 括 並 反 映 於 上 述Jason
ZHOU先生擁有權益的股份數目內。

2.

通用技術香港資本的全部已發行股本由中國通用技術（集團）控股有限責任公司（由國務院全資擁有）直接持有。因此，中國通用技
術（集團）控股有限責任公司被視作於通用技術香港資本持有的57,740,181股股份中擁有權益。

3.

安怡和康（天津）投資合夥企業（有限合夥）為一間根據中國法律組建及存續的有限責任合夥企業。安怡和康（天津）投資合夥企業（有
限合夥）的普通合夥人為博裕廣渠（上海）投資管理有限公司，其唯一股東為博裕（上海）股權投資管理有限責任公司，該公司由夏美
英及黃愛蓮各自擁有50%的權益。因此，博裕廣渠（上海）投資管理有限公司、博裕（上海）股權投資管理有限責任公司、夏美英及
黃愛蓮各自被視為於安怡和康（天津）投資合夥企業（有限合夥）所持相關數目股份中擁有權益。

4.

中國人壽再保險有限責任公司為一間於中國註冊成立的有限責任公司，其唯一股東為中國再保險（集團）股份有限公司，該公司由
中央匯金投資有限責任公司擁有71.6%的權益。中國再保險（集團）股份有限公司及中央匯金投資有限責任公司被視為於中國人壽
再保險有限責任公司所持相關數目股份中擁有權益。

除上文所披露者外，截至二零二六年六月三十日，本公司並無接獲任何人士（董事或本公司主要行政人員除外）
通知，表示其於股份或相關股份中擁有根據證券及期貨條例第XV部第2及3分部條文須向本公司披露的權益或
淡倉或須記錄於根據證券及期貨條例第336條須予存置的登記冊的權益或淡倉。

受限制股份獎勵計劃及僱員股份計劃
(a)

受限制股份獎勵計劃
本公司已根據於二零一六年八月二十九日（「受限制股份獎勵計劃採納日期」）通過的股東書面決議案採
納受限制股份獎勵計劃。受限制股份獎勵計劃旨在提供獎勵，為本集團的持續營運及發展挽留主要僱員
並為本集團的進一步發展吸引合適人員。受限制股份獎勵計劃自受限制股份獎勵計劃採納日期起計十年
的期間內有效及生效，由管理委員會及受託人管理。
截至二零二一年一月一日，原先根據受限制股份獎勵計劃授出的所有受限制股份已歸屬或失效，且並無
已發行在外的受限制股份。截至二零二六年一月一日及二零二六年六月三十日，受限制股份獎勵計劃項
下可供授出的股份數目均為4,767,500股。截至二零二六年六月三十日止六個月，受限制股份獎勵計劃
項下概無已授出、歸屬、註銷或失效受限制股份。

(b)

僱員股份計劃
於二零二零年八月二十八日，董事會採納僱員股份計劃，旨在表彰經甄選參與者的貢獻，激勵他們實現
績效目標，並為本集團進一步發展吸引合適人員。僱員股份計劃自其採納日期起計十年的期間內有效及
生效，由管理委員會及受託人管理。

15

新世紀醫療控股有限公司

其他資料（續）

倘因根據僱員股份計劃購買股份導致僱員股份計劃項下所管理的股份數目達致於董事會批准僱員股份
計劃當日本公司已發行股本的5%或以上，或管理委員會在始終遵守上市規則下全權酌情釐定的其他上
限，則不應根據僱員股份計劃進行有關購買。任何一次或合共可向經甄選參與者授出獎勵股份的最大數
目不得超過於同日本公司已發行股本的1%。
於釐定經甄選參與者、將授出的獎勵股份數目、歸屬條件、經甄選參與者就每股獎勵股份將予支付的行
使價（如有）、行使價的支付方式以及授出獎勵股份的其他條款及條件時，管理委員會須考慮其認為相
關的任何事項。根據僱員股份計劃規則（「僱員股份計劃規則」）向經甄選參與者授出的任何獎勵股份須
根據授予函件所載的歸屬條件歸屬於有關經甄選參與者。
截至二零二六年六月三十日，就僱員股份計劃而言，本公司為管理僱員股份計劃而委託之受託人已從市
場購買2,073,500股股份，並根據僱員股份計劃規則及有關僱員股份計劃的信託契約的條文，為經甄選
參與者的利益以信託形式持有。
於本中期報告日期，僱員股份計劃項下概無任何已授出、歸屬、註銷或失效股份。有關僱員股份計劃的
進一步詳情，請參閱本公司日期為二零二零年八月三十一日的公告。
於本中期報告日期，根據僱員股份計劃可供授出之股份總數尚有24,501,250股股份，相當於董事會於二
零二零年八月二十八日批准及採納當日之5%計劃限額。於本中期報告日期，計劃限額保持5%不變。截
至二零二六年一月一日及二零二六年六月三十日，僱員股份計劃項下可供授出的股份數目仍為2,073,500
股。

董事收購股份及債權證的權利
除上文「受限制股份獎勵計劃及僱員股份計劃」一節所披露者外，於截至二零二六年六月三十日止六個月內任
何時間概無授出權利予任何董事或彼等各自的配偶或未成年子女，致使彼等可透過收購股份或本公司的債權
證而獲取利益，董事亦無行使任何該等權利；本公司或其任何控股公司、同系附屬公司及附屬公司亦無訂立
任何安排，致使董事於任何其他法人團體獲得該等權利。

二零二六年中期報告

16

其他資料（續）

購買、出售或贖回本公司的上市證券
截至二零二六年六月三十日止六個月，本公司或其任何附屬公司概無購買、出售或贖回任何本公司上市證券。

首次公開發售所得款項用途
經扣除包銷佣金及所有相關費用後，本公司自全球發售已收所得款項淨額為857.2百萬港元，有關款項已經及
將根據本公司日期為二零一六年十二月三十日招股章程內「未來計劃及所得款項用途」一節及本公司日期為二
零一七年十二月六日及二零一九年三月二十五日內容有關變更所得款項用途公告內所述方式使用。
以下載列所得款項淨額用途及尚未動用所得款項擬定用途的預期時間表，須經當時管理層評估及根據市場形
勢而定：

截至二零二五年
十二月三十一日
所得款項淨額
（百萬港元）

二零二六年
一月一日
至二零二六年
六月三十日止
已動用
（百萬港元）

設立、改造及收購新醫院以及診所，以及該等
新醫院及診所所需的營運資金
投資手術中心及醫療服務科技（包括線上診療）

14.7

9.5

5.2

—

—

—

總計

14.7

9.5

5.2

項目

17

新世紀醫療控股有限公司

截至二零二六年 尚未動用所得款項擬定用途的
六月三十日 預期時間表（須經當時管理層
未動用 評估及根據市場形勢而定）
（百萬港元）
餘下金額預期於二零二六年末之
前悉數動用。
不適用

其他資料（續）

企業管治常規
董事會致力於維持較高的企業管治標準。本公司已應用上市規則附錄C1所載的企業管治守則中適用於本公司
的原則。
董事認為，本公司於截至二零二六年六月三十日止六個月已遵守企業管治守則所載全部適用的守則條文，惟
守則條文C.2.1條除外，該條文規定董事長與首席執行官的角色應有區分，並不應由一人同時兼任。Jason ZHOU
先生為董事長兼首席執行官，負責本集團的整體管理並指導本集團的戰略發展和業務計劃。我們認為，Jason
ZHOU先生自本公司於二零零二年成立以來對我們的業務發展及拓展發揮著舉足輕重的作用。董事會認為由同
一人擔任董事長及首席執行官的職位乃有利於本集團的業務前景、管理及整體策略方向，確保本集團內部維
持一致的領導，並促進本集團執行更有效和高效的整體戰略規劃及決策。經考慮已採取的全部企業管治措施，
董事會認為當前安排不會損害在權力與職權方面的平衡，且當前結構將使本公司得以更迅速及有效地作出及
實施決策。因此，本公司並未分離董事長與首席執行官的角色。董事會將繼續評估情況，並在慮及本集團屆時
的整體狀況後考慮於適當時候分離本公司董事長與首席執行官的角色。

證券交易的標準守則
本公司已採納標準守則作為其有關董事進行證券交易的行為守則。本公司亦就有關僱員（定義見上市規則）進
行本公司證券交易制定至少與標準守則一樣嚴格的指引。
本公司已就全體董事遵守標準守則的情況向董事作出特定查詢，且董事均已確認截至二零二六年六月三十日
止六個月內已遵守標準守則所規定的標準。本公司已就有關僱員遵守本公司證券交易指引的情況向僱員作出
特定查詢，且並無發現任何違反指引的情況。

董事資料變動披露
自本公司刊發二零二五年年度報告起直至最後實際可行日期，並無根據上市規則第13.51B(1)條的規定須予披
露有關董事履歷詳情重大變動的任何其他資料。

二零二六年中期報告

18

其他資料（續）

審閱中期業績
審核委員會由三名獨立非執行董事，即孫洪斌先生、姜彥福先生及楊躍林先生組成。審核委員會主席為孫洪
斌先生。
審核委員會已審閱本集團截至二零二六年六月三十日止六個月的未經審核中期業績及本中期報告，並認為中
期業績及中期報告已根據有關會計準則編製，且本公司已根據上市規則的規定作出充分披露。

上市規則附錄D2
根據上市規則附錄D2「財務資料的披露」一節第40段，除本文所披露者外，本公司確認，與本公司二零二五年
年度報告所披露資料相比，本公司有關附錄D2第2段所述事宜的當前資料並無重大變動。

承董事會命
Jason ZHOU
董事長、執行董事兼首席執行官
香港，二零二六年八月三十一日

19

新世紀醫療控股有限公司

中期財務資料的審閱報告
致新世紀醫療控股有限公司董事會
（於開曼群島註冊成立的有限公司）

引言
本核數師（以下簡稱「我們」）已審閱列載於第22至45頁的中期財務資料，此中期財務資料包括新世紀醫療控股
有限公司（以下簡稱「貴公司」）及其附屬公司（以下統稱「貴集團」）於二零二六年六月三十日的中期簡明綜合財
務狀況表與截至該日止六個月期間的中期簡明綜合全面收益表、中期簡明綜合權益變動表和中期簡明綜合現
金流量表，以及選定的解釋附註。香港聯合交易所有限公司證券上市規則規定，就中期財務資料擬備的報告
必須符合以上規則的有關條文以及香港會計師公會（「香港會計師公會」）頒佈的香港會計準則第34號「中期財
務報告」。貴公司董事須負責根據香港會計師公會頒佈的香港會計準則第34號「中期財務報告」擬備及列報該等
中期財務資料。我們的責任是根據我們的審閱對該等中期財務資料作出結論，並僅按照我們協定的業務約定
條款向閣下（作為整體）報告我們的結論，除此之外本報告別無其他目的。我們不會就本報告的內容向任何其
他人士負上或承擔任何責任。

審閱範圍
我們已根據香港會計師公會頒佈的香港審閱準則第2410號「由實體的獨立核數師執行中期財務資料審閱」進行
審閱。審閱中期財務資料包括主要向負責財務和會計事務的人員作出查詢，及應用分析性和其他審閱程序。
審閱的範圍遠較根據《香港審計準則》進行審計的範圍為小，故不能令我們可保證我們將知悉在審計中可能被
發現的所有重大事項。因此，我們不會發表審計意見。

結論
按照我們的審閱，我們並無發現任何事項，令我們相信貴集團的中期財務資料未有在各重大方面根據香港會
計師公會頒佈的香港會計準則第34號「中期財務報告」擬備。

二零二六年中期報告

20

中期財務資料的審閱報告（續）

強調事項
我們提請注意中期財務資料附註12(i)，當中載述對貴集團其中一名合作夥伴正在進行的調查結果以及貴集團
與該合作夥伴之間的公私合營安排相關事項的解决情況存在的不確定性。就該調查而言，截至二零二六年六
月三十日，貴集團總餘額約為人民幣217,497,000元的若干銀行賬戶已被凍結，且貴集團已就解決該事項的可
能付款計提了約人民幣62,125,000元的撥備。我們的結論並未就該事項作出修訂。

羅兵咸永道會計師事務所
執業會計師
香港，二零二六年八月三十一日

21

新世紀醫療控股有限公司

中期簡明綜合財務狀況表

附註

資產
非流動資產
物業、廠房及設備
使用權資產
無形資產
按權益法入賬的投資
遞延稅項資產
長期按金及預付款項

5
6
7

非流動資產總值
流動資產
存貨
貿易應收款項
其他應收款項、按金及預付款項
應收關聯方款項
定期存款
受限制現金
現金及現金等價物

8
9
10

於二零二六年

於二零二五年

六月三十日

十二月三十一日

人民幣千元

人民幣千元

（未經審核）

（經審核）

53,977
87,934
205,775
15,866
148
3,518

59,746
100,333
208,755
15,335
779
3,514

367,218

388,462

10,218
23,244
16,253
4,933
—

12,761
31,038
16,548
13,052
53,200
—

217,497
61,527

230,260

流動資產總值

333,672

356,859

資產總值

700,890

745,321

權益
股本
僱員股份計劃所持股份
股份溢價
儲備
累計虧損

335
(2,939)
2,580,078
(1,485,382)
(748,298)

335
(2,939)
2,580,078
(1,485,347)
(663,339)

本公司擁有人應佔權益

343,794

428,788

非控股權益

(91,294)

(74,814)

權益總額

252,500

353,974

二零二六年中期報告

22

中期簡明綜合財務狀況表（續）

附註

於二零二六年

於二零二五年

六月三十日

十二月三十一日

人民幣千元

人民幣千元

（未經審核）

（經審核）

負債
非流動負債
76,862

95,940

遞延稅項負債

6

17,161

17,756

非流動負債總額

94,023

113,696

租賃負債

流動負債
貿易應付款項

11

22,435

24,575

應計費用、其他應付款項及撥備

12

202,261

143,918

租賃負債

6

87,218

70,300

37,470

35,378

合約負債

484

683

4,499

2,797

流動負債總額

354,367

277,651

負債總額

448,390

391,347

總權益及負債

700,890

745,321

即期稅項負債
9

應付關聯方款項

上述中期簡明綜合財務狀況表應與隨附附註一併閱讀。
第22至45頁的財務資料經本公司董事會於二零二六年八月三十一日批准，並由以下董事代為簽署

Jason ZHOU

23

新世紀醫療控股有限公司

徐瀚

中期簡明綜合全面收益表
截至六月三十日止六個月
二零二六年
人民幣千元
（未經審核）

二零二五年
人民幣千元
（未經審核）

248,958
(187,776)
—
(27,706)
(54,982)
(855)
(9,223)
484
(61,536)

304,528
(214,882)
(33,737)
(33,921)
(59,053)
(1,809)
(1,570)
525
(176)

經營虧損

(92,636)

(40,095)

財務收入
財務成本
按權益法入賬的投資分佔溢利淨額

549
(4,023)
566

1,666
(3,570)
911

除所得稅前虧損

(95,544)

(41,088)

(5,895)

(17,719)

中期期間虧損

(101,439)

(58,807)

下列各項應佔中期期間虧損：
本公司擁有人
非控股權益

(84,959)
(16,480)

(65,234)
6,427

(35)

73

中期全面收入總額

(101,474)

(58,734)

下列各項應佔中期全面收入總額：
本公司擁有人
非控股權益

(84,994)
(16,480)

(65,161)
6,427

(0.18)

(0.14)

附註

收益
收益成本
非流動資產減值虧損
銷售開支
行政開支
研發開支
金融資產減值虧損淨額
其他收入
其他虧損 — 淨額

所得稅開支

4
4

13

14

其他全面收入
可能重新分類至損益之項目
— 換算海外業務產生的匯兌差額

本公司普通權益擁有人應佔虧損之每股虧損
（以每股人民幣元計值）
每股基本及攤薄虧損

15

上述中期簡明綜合全面收益表應與隨附附註一併閱讀。
二零二六年中期報告

24

中期簡明綜合權益變動表
本公司擁有人應佔

附註

就僱員股份
股本 計劃所持股份
人民幣千元 人民幣千元

股份溢價
人民幣千元

其他儲備
人民幣千元

累計虧損
人民幣千元

小計
人民幣千元

非控股權益
人民幣千元

權益總額
人民幣千元

（未經審核）
於二零二五年十二月三十一日的結餘

335

(2,939)

2,580,078

(1,485,347)

(663,339)

428,788

(74,814)

353,974

中期全面收入總額
— 中期期間虧損
— 匯兌差額

—
—

—
—

—
—

—
(35)

(84,959)
—

(84,959)
(35)

(16,480)
—

(101,439)
(35)

—

—

—

(35)

(84,959)

(84,994)

(16,480)

(101,474)

於二零二六年六月三十日的結餘

335

(2,939)

2,580,078

(1,485,382)

(748,298)

343,794

(91,294)

252,500

（未經審核）
於二零二四年十二月三十一日的結餘

335

(2,939)

2,589,887

(1,492,168)

(541,289)

553,826

(44,950)

508,876

中期全面收入總額
— 中期期間（虧損）╱溢利
— 匯兌差額

—
—

—
—

—
—

—
73

(65,234)
—

(65,234)
73

6,427
—

(58,807)
73

—

—

—

73

(65,234)

(65,161)

6,427

(58,734)

—

—

(9,809)

—

—

(9,809)

—

(9,809)

與擁有人的交易總額

—

—

(9,809)

—

—

(9,809)

—

(9,809)

於二零二五年六月三十日的結餘

335

(2,939)

2,580,078

(1,492,095)

(606,523)

478,856

(38,523)

440,333

與擁有人的交易
— 股息

16

上述中期簡明綜合權益變動表應與隨附附註一併閱讀。

25

新世紀醫療控股有限公司

中期簡明綜合現金流量表
截至六月三十日止六個月

附註

二零二六年
人民幣千元
（未經審核）

二零二五年
人民幣千元
（未經審核）

(209,120)

20,352

(498)

(3,392)

經營活動產生的現金流量
經營（所用）╱產生的現金
已付利息
已收利息

549

1,666

已付所得稅

(6,058)

(13,782)

(215,127)

4,844

(1,189)

(5,150)

(146)

(112)

經營活動（所用）╱產生的現金淨額

投資活動產生的現金流量
物業、廠房及設備付款
無形資產付款
出售物業、廠房及設備的所得款項

—

1

處置定期存款的所得款項

53,200

—

投資活動產生╱（所用）的現金淨額

51,865

(5,261)

—

(8,993)

租賃負債的付款（本金）

(4,472)

(13,072)

融資活動所用的現金淨額

(4,472)

(22,065)

現金及現金等價物減少淨額

(167,734)

(22,482)

中期期初現金及現金等價物

230,260

354,522

(999)

(137)

61,527

331,903

融資活動產生的現金流量
向本公司股東支付股息

匯率變動對現金及現金等價物的影響

中期期末現金及現金等價物

16

上述中期簡明綜合現金流量表應與隨附附註一併閱讀。

二零二六年中期報告

26

中期簡明綜合財務資料附註
1

一般資料及中期報告編製基準
1.1 一般資料
新世紀醫療控股有限公司（「本公司」）及其附屬公司（統稱為「本集團」）主要從事在中華人民共和
國（「中國」）提供兒科及婦產科專科服務。本集團亦提供在線醫療服務及其他相關服務。
本公司為一家有限責任公司，於二零一五年七月三十一日在開曼群島註冊成立。本公司註冊辦事
處地址為c/o Walkers Corporate Limited, 190 Elgin Avenue, George Town, Grand Cayman KY19008, Cayman Islands 。
本公司普通股於二零一七年一月十八日在香港聯合交易所有限公司主板上市（「上市」）。
除非另有所指，中期簡明綜合財務資料均以人民幣（「人民幣」）呈列，並約整至最接近的千元。

1.2 中期報告編製基準
截至二零二六年六月三十日止六個月期間的本中期簡明綜合財務資料乃根據《香港會計準則》第
34號（「《香港會計準則》第34號」）
「中期財務報告」編製。

持續經營
截至二零二六年六月三十日止六個月，本集團錄得經營虧損淨額人民幣92,636,000元，及本公司
擁有人應佔虧損淨額人民幣84,959,000元。於二零二六年六月三十日，本集團的流動負債超出流
動資產人民幣20,695,000元。
如附註10及附註12(i)所披露，本集團的若干銀行賬戶（約人民幣217,497,000元）被凍結，且本集
團已就解決該事項的潛在款項計提約人民幣62,125,000元的撥備。該等事項及情況或會導致本集
團持續經營的能力遭受重大質疑。

27

新世紀醫療控股有限公司

中期簡明綜合財務資料附註（續）

1

一般資料及中期報告編製基準（續）
1.2 中期報告編製基準（續）

持續經營（續）
鑒於上述情況，管理層已審慎考慮本集團未來的流動資金、表現及可用融資來源，並已編製現金
流 量 預 測，涵 蓋 自 本 中 期 簡 明 綜 合 財 務 資 料 日 期 起 計 不 少 於 十 二 個 月 的 期 間。在 編 製 該 等 預 測
時，管理層已考慮本集團一直積極與相關監察委員會接洽，以促進凍結行動（附註12(i)）的解決及
解除對凍結資金的限制。該等預測已計及本集團的經營現金流量、對凍結資金限制的預計解除以
及上文所述預期付款，並已考慮該等事項的可能落實時間。基於此預測，董事認為，在整個預測
期內，本集團將具備充足的現金資源，可在各項責任到期時如期履行。因此，董事認為，按持續
經營基準編製中期簡明綜合財務資料仍屬恰當。
中期簡明綜合財務資料並無包括年度綜合財務報表一般涵括的全部附註。因此，本中期簡明綜合
財務資料應與截至二零二五年十二月三十一日止年度的年度綜合財務報表一併閱讀。
所採納的會計政策與上一個財政年度及相應中期報告期間所採納者一致，惟採納下列新訂及經修
訂準則除外。

(a)

本集團採納的新訂及經修訂準則
多項新訂或經修訂準則於本報告期間起適用。本集團毋須因採納該等準則而更改其會計政
策或作出追溯調整。

(b)

已頒佈但本集團尚未採納的準則的影響
本集團並無提早採納已頒佈但未於當前報告期間強制生效的若干新訂會計準則、現有會計
準則的修訂本及詮釋。除截至二零二五年十二月三十一日止年度的年度財務報告所述香港
財務報告準則第18號項下預期的呈列及披露變動外，預期其他準則不會於當前或未來報告
期間對本集團及對可見未來的交易造成重大影響。

二零二六年中期報告

28

中期簡明綜合財務資料附註（續）

2

財務風險管理及金融工具
本集團之業務面臨多種財務風險：市場風險（包括外匯風險及公平值利率風險）、信貸風險及流動資金
風險。
中期簡明綜合財務資料並未包括年度財務報告規定之所有財務風險管理資料及披露，且應與本集團截至
二零二五年十二月三十一日止年度之年報一併閱覽。風險管理政策自截至二零二六年六月三十日止六個
月以來並無任何變動。

3

估算
於編製中期財務資料時，管理層須作出影響會計政策應用以及資產及負債、收入及開支列報金額之判
斷、估算及假設。實際業績可能有別於該等估算。
於編製該中期簡明綜合財務資料時，管理層就應用本集團會計政策所作出之重大判斷及估算不明朗因素
之主要來源與應用於截至二零二五年十二月三十一日止年度之綜合財務報表者相同，惟與凍結行動有關
的撥備（附註12(i)）除外。

4

分部資料
Jason ZHOU先生為本公司的執行董事兼董事長，擔任本集團的主要經營決策者（「主要經營決策者」）。
管理層已根據主要經營決策者審閱的資料釐定經營分部以配置資源及評估表現。
主要經營決策者認為，本集團主要從事各自承受不同業務風險及具有不同經濟特徵的三個不同分部：(i)
兒科服務；(ii)婦產科服務；及(iii)其他，包括向客戶提供醫院預約、線上諮詢服務及線上產品銷售、於
自有醫院內經營餐廳、出售禮品及經營雜貨店。管理層將這些收益歸為其他收益，因為每項收益不超過
本集團總收益、總溢利及資產總值的10%。

29

新世紀醫療控股有限公司

中期簡明綜合財務資料附註（續）

4

分部資料（續）
本集團的分部資料呈列如下：

(i)

分部資料

（未經審核）
截至二零二六年六月三十日止六個月
來自外部客戶的收益
分部間收益
總收益
收益成本
分部業績
未分配收入
未分配成本
除所得稅前溢利╱（虧損）
所得稅開支

兒科
人民幣千元

婦產科
人民幣千元

其他
人民幣千元

分部間抵銷
人民幣千元

未分配
人民幣千元

總計
人民幣千元

204,581
—

40,924
—

3,453
8,080

—
(8,080)

—
—

248,958
—

204,581
(144,351)
2,854

40,924
(39,015)
(11,501)

11,533
(6,867)
(5,335)

(8,080)
2,457
—

—
—
—
2,358
(83,920)

248,958
(187,776)
(13,982)
2,358
(83,920)

2,854

(11,501)

(5,335)

—

(81,562)
(5,895)

(95,544)
(5,895)
(101,439)

期內虧損
其他
折舊及攤銷

15,581

5,429

409

—

243

21,662

於二零二六年六月三十日
資產總值

341,425

52,716

8,622

—

298,127

700,890

負債總額

218,686

115,339

6,423

—

107,942

448,390

二零二六年中期報告

30

中期簡明綜合財務資料附註（續）

4

分部資料（續）
(i)

分部資料（續）

（未經審核）
截至二零二五年六月三十日止六個月
來自外部客戶的收益
分部間收益
總收益
收益成本
非流動資產減值虧損
分部業績
未分配收入
未分配成本
除所得稅前（虧損）╱溢利
所得稅開支

兒科
人民幣千元

婦產科
人民幣千元

其他
人民幣千元

分部間抵銷
人民幣千元

未分配
人民幣千元

總計
人民幣千元

255,693
—

45,312
—

3,523
14,688

—
(14,688)

—
—

304,528
—

255,693
(164,642)
(20,571)
(507)

45,312
(45,214)
(13,166)
(28,636)

18,211
(8,055)
—
2,883

(14,688)
3,029
—
—

—
—
—
—
3,160
(17,988)

304,528
(214,882)
(33,737)
(26,260)
3,160
(17,988)

(507)

(28,636)

2,883

—

(14,828)
(17,719)

(41,088)
(17,719)
(58,807)

期內虧損

(ii)

其他
折舊及攤銷

17,949

6,247

409

—

427

25,032

於二零二五年十二月三十一日
資產總值

368,070

56,178

17,316

—

303,757

745,321

負債總額

225,526

112,548

7,356

—

45,917

391,347

與客戶之間的合約產生的收益劃分
絕大部分本集團來自外部客戶的收益在某一時點確認。

(iii)

31

由於本集團所有收益源自中國的業務，且本集團的業務及非流動資產主要位於中國，故並無呈列
地域資料。

新世紀醫療控股有限公司

中期簡明綜合財務資料附註（續）

5

物業、廠房及設備
樓宇及租賃
裝修
人民幣千元

汽車
人民幣千元

辦公設備及
傢俱
人民幣千元

醫療設備
人民幣千元

總計
人民幣千元

188,133
(172,075)

116,525
(81,796)

6,901
(2,975)

31,776
(26,743)

343,335
(283,589)

賬面淨額

16,058

34,729

3,926

5,033

59,746

（未經審核）
截至二零二六年六月三十日止六個月
期初賬面淨額
添置
出售
折舊開支

16,058
15
—
(2,726)

34,729
451
(144)
(2,383)

3,926
—
—
(299)

5,033
218
(26)
(875)

59,746
684
(170)
(6,283)

期末賬面淨額

13,347

32,653

3,627

4,350

53,977

188,148
(174,801)

116,008
(83,355)

6,901
(3,274)

31,705
(27,355)

342,762
(288,785)

13,347

32,653

3,627

4,350

53,977

於二零二五年十二月三十一日
成本
累計折舊及減值

於二零二六年六月三十日
成本
累計折舊及減值
賬面淨額

二零二六年中期報告

32

中期簡明綜合財務資料附註（續）

6

租賃
財務狀況表呈列下列租賃相關款項：

使用權資產
物業
人民幣千元

設備
人民幣千元

總計
人民幣千元

239,380
(141,639)

6,174
(3,582)

245,554
(145,221)

賬面淨額

97,741

2,592

100,333

（未經審核）
截至二零二六年六月三十日止六個月
期初賬面淨額
折舊開支

97,741
(12,121)

2,592
(278)

100,333
(12,399)

期末賬面淨額

85,620

2,314

87,934

239,380
(153,760)

6,174
(3,860)

245,554
(157,620)

85,620

2,314

87,934

於二零二五年十二月三十一日
成本
累計折舊

於二零二六年六月三十日
成本
累計折舊
賬面淨額

租賃負債
於二零二六年
於二零二五年
六月三十日 十二月三十一日
人民幣千元
人民幣千元
（未經審核）
（經審核）
流動
非流動

33

新世紀醫療控股有限公司

87,218
76,862

70,300
95,940

164,080

166,240

中期簡明綜合財務資料附註（續）

7

無形資產
醫療許可證
人民幣千元

商譽
人民幣千元

軟件
人民幣千元

總計
人民幣千元

286,967
(75,002)
(117,135)

377,939
—
(266,241)

37,666
(18,464)
(16,975)

702,572
(93,466)
(400,351)

賬面淨額

94,830

111,698

2,227

208,755

（未經審核）
截至二零二六年六月三十日止六個月
期初賬面淨額
攤銷費用

94,830
(2,381)

111,698
—

2,227
(599)

208,755
(2,980)

期末賬面淨額

92,449

111,698

1,628

205,775

286,967
(77,383)
(117,135)

377,939
—
(266,241)

37,638
(19,035)
(16,975)

702,544
(96,418)
(400,351)

92,449

111,698

1,628

205,775

於二零二五年十二月三十一日
成本
累計攤銷
減值費用

於二零二六年六月三十日
成本
累計攤銷
減值費用
賬面淨額

附註： 截至二零二六年六月三十日止六個月期間，本集團出售若干已悉數攤銷的軟件。

二零二六年中期報告

34

中期簡明綜合財務資料附註（續）

8

貿易應收款項
於二零二六年
於二零二五年
六月三十日 十二月三十一日
人民幣千元
人民幣千元
（未經審核）
（經審核）
來自與客戶之間的合約的貿易應收款項
減：貿易應收款項減值撥備

24,076
(832)

31,996
(958)

貿易應收款項 — 淨額

23,244

31,038

本集團的貿易應收款項賬面值以人民幣計值，與其公平值相近。大部分貿易應收款項為應收商業保險公
司及政府保險計劃款項。
於二零二六年六月三十日及二零二五年十二月三十一日，貿易應收款項按繳款通知書日期的賬齡分析如
下：
於二零二六年
於二零二五年
六月三十日 十二月三十一日
人民幣千元
人民幣千元
（未經審核）
（經審核）
3個月內
4至6個月
7個月至1年
1年以上

35

新世紀醫療控股有限公司

20,174
1,747
785
1,370

26,588
2,184
1,606
1,618

24,076

31,996

中期簡明綜合財務資料附註（續）

9

與關聯方的結餘
於二零二六年
於二零二五年
六月三十日 十二月三十一日
人民幣千元
人民幣千元
（未經審核）
（經審核）
應收關聯方款項
北京嘉華麗康醫療投資管理有限公司（「嘉華麗康」）(i)
北京柏瑞康辰科技發展有限公司（「柏瑞康辰」）(ii)
上海新世紀浦錦兒科門診部有限公司
其他

減：減值撥備

133,268
27,463
1,850
197

133,268
27,463
1,850
148

162,778

162,729

(157,845)

(149,677)

4,933

13,052

上述關聯方與本集團之關係載於附註18。
(i)

應收嘉華麗康款項主要來自本集團所提供的醫院諮詢服務。過往，嘉華麗康拖欠該等應收款項且收款並無取得進展。經根
據本集團可得財務資料考慮嘉華麗康財務狀況、違約概率及違約損失率後，於二零二六年六月三十日，已就應收嘉華利康
款項計提虧損撥備人民幣128,532,000元（二零二五年十二月三十一日：人民幣120,364,000元）。

(ii)

應 收 柏 瑞 康 辰 款 項 為 貸 款 本 金 及 年 利 率 達4.75%的 相 關 利 息。過 往，柏 瑞 康 辰 拖 欠 該 等 貸 款 本 金 及 相 關 利 息 且 收 款 並 無
取 得 進 展。經 考 慮 違 約 概 率 及 違 約 損 失 率，於 二 零 二 六 年 六 月 三 十 日，已 就 應 收 柏 瑞 康 辰 款 項 悉 數 計 提 虧 損 撥 備 人 民 幣
27,463,000元（二零二五年十二月三十一日：人民幣27,463,000元）。

二零二六年中期報告

36

中期簡明綜合財務資料附註（續）

9

與關聯方的結餘（續）
於二零二六年
於二零二五年
六月三十日 十二月三十一日
人民幣千元
人民幣千元
（未經審核）
（經審核）
應付關聯方款項
— 貿易
首都醫科大學附屬北京兒童醫院
北京睦合嘉業健康管理有限公司
成都市婦女兒童中心醫院

— 非貿易
首都醫科大學附屬北京兒童醫院
其他

10

254
3,713
103

229
1,893
106

4,070

2,228

346
83

510
59

429

569

4,499

2,797

受限制現金
於二零二六年
於二零二五年
六月三十日 十二月三十一日
人民幣千元
人民幣千元
（未經審核）
（經審核）
受限制現金

217,497

—

如附註12(i)所披露，於二零二六年六月三十日，本集團銀行賬戶的人民幣217,497,000元被凍結。基於
目前情況，管理層預期對凍結資金的限制將於未來十二個月內解除，因此，受限制現金已於簡明綜合財
務資料中分類為流動資產。

37

新世紀醫療控股有限公司

中期簡明綜合財務資料附註（續）

11

貿易應付款項
於二零二六年六月三十日及二零二五年十二月三十一日，按繳款通知書日期得出的貿易應付款項賬齡分
析如下：
於二零二六年
於二零二五年
六月三十日 十二月三十一日
人民幣千元
人民幣千元
（未經審核）
（經審核）
3個月內
4至6個月
7個月至1年
1年以上

12

13,042
5,486
2,739
1,168

20,573
2,611
372
1,019

22,435

24,575

應計費用、其他應付款項及撥備
於二零二六年
於二零二五年
六月三十日 十二月三十一日
人民幣千元
人民幣千元
（未經審核）
（經審核）
客戶墊款
撥備(i)
應計僱員福利
應計經營開支
其他應付廠房及設備的供應商的款項
應付稅費（不包括企業所得稅）
其他

65,228
62,125
27,797
24,538
8,927
1,997
11,649

72,420
—
28,998
20,273
9,565
2,239
10,423

202,261

143,918

二零二六年中期報告

38

中期簡明綜合財務資料附註（續）

12

應計費用、其他應付款項及撥備（續）
(i)

13

如本公司日期為二零二六年八月十四日的公告所披露，本集團的若干銀行賬戶（約人民幣217,497,000元）被凍結，主要涉
及北京市門頭溝區監察委員會（「監察委員會」）對本公司其中一名合作夥伴正在進行的調查（「調查」）
（「凍結行動」）。調查並
非直接針對本集團、其董事或其高級管理人員發起。基於本集團的評估及外部法律顧問的意見，本集團並未發現任何違反
其與合作夥伴之間公私合營安排的情況。然而，根據監察委員會與本公司的溝通情況，對於本集團涉及使用合作夥伴所擁
有物業的公私合營安排的若干相關事宜，各方持不同觀點。基於本集團與監察委員會的最新溝通情況，本集團已就解決該
事項的潛在款項計提約人民幣62,125,000元的撥備。該金額為管理層對付款金額的最佳估計，其根據該合作夥伴產生的若
干物業相關成本加上該支出的時間價值及與監察委員會的最新溝通情況計算。截至本中期簡明綜合財務資料批准日期，調
查仍在進行中，調查結果及該事項的解決仍存在不確定性，包括最終付款金額以及凍結資金的解除時間及範圍。因此，上
述已計提撥備可能會在調查完成後作出進一步調整。

其他虧損 — 淨額
截至六月三十日止六個月
二零二六年
二零二五年
人民幣千元
人民幣千元
（未經審核）
（未經審核）
撥備（附註12(i)）
其他

39

新世紀醫療控股有限公司

62,125
(589)

—
176

61,536

176

中期簡明綜合財務資料附註（續）

14

所得稅開支
截至六月三十日止六個月
二零二六年
二零二五年
人民幣千元
人民幣千元
（未經審核）
（未經審核）
即期所得稅：
— 中國企業所得稅
遞延所得稅

(a)

5,859
36

9,200
8,519

5,895

17,719

開曼群島所得稅
本公司乃根據開曼群島公司法於開曼群島註冊成立為獲豁免有限公司，故獲豁免繳納開曼群島所
得稅。

(b)

中國企業所得稅
在中國內地成立及經營的附屬公司須按25%的稅率繳納中國企業所得稅。

(c)

香港利得稅
截至二零二六年及二零二五年六月三十日止六個月，香港利得稅率為16.5%。由於截至二零二六
年及二零二五年六月三十日止六個月並無須繳納香港利得稅的估計應課稅溢利，故並無就香港利
得稅計提撥備。

二零二六年中期報告

40

中期簡明綜合財務資料附註（續）

15

每股虧損
(a)

基本
每股基本虧損按本公司擁有人應佔虧損除以已發行普通股加權平均數計算，當中不包括就受限制
股份獎勵計劃持有的股份。
截至六月三十日止六個月
二零二六年
二零二五年
（未經審核）
（未經審核）
本公司擁有人應佔虧損（人民幣千元）

(84,959)

(65,234)

已發行普通股加權平均數（千股）(i)

483,184

483,184

(0.18)

(0.14)

每股基本虧損（人民幣元）
(i)

於二零一七年七月二十五日，本公司根據一項受限制股份獎勵計劃向若干僱員授出9,000,000股受限制股份，其中
4,767,500股股份已被沒收，其後由受限制股份獎勵計劃的受託人持有。計算每股基本虧損時並無計及該等已沒收
的股份。
截至二零二六年六月三十日，本公司就僱員股份計劃持有2,073,500股（二零二五年：2,073,500股）本公司股份。由
於截至二零二六年六月三十日並無向僱員授出任何股份及概無股份發行在外，因此，於計算每股基本虧損時，該
等股份全部排除在外。

(b)

攤薄
截至二零二六年及二零二五年六月三十日止六個月，由於並無潛在攤薄股份，故每股攤薄虧損與
每股基本虧損相等。

41

新世紀醫療控股有限公司

中期簡明綜合財務資料附註（續）

16

股息
截至六月三十日止六個月
二零二六年
二零二五年
人民幣千元
人民幣千元
（未經審核）
（未經審核）
於中期期內已付股息每股已繳足普通股0.0221港元(i)

17

—

7,996

(i)

根據本公司日期為二零二五年五月二十二日的股東決議案，末期股息每股已繳足普通股0.0221港元共計10,830,000港元（約
人民幣9,948,000元）已獲宣派。受限制股份獎勵計劃之受託人所持股份及僱員股份計劃所持股份應佔股息於本集團簡明綜
合財務狀況表抵銷，據此，股息10,678,000港元（約人民幣9,809,000元）於抵銷後計入本集團簡明綜合權益變動表。截至二
零二五年六月三十日止六個月，本公司已派發末期股息8,705,000港元（約人民幣7,996,000元）。剩餘股息於中期簡明綜合
財務資料的應計費用、其他應付款項及撥備中確認。

(ii)

本公司董事會議決不宣派截至二零二六年六月三十日止六個月的中期股息。

承擔
資本承擔
以下為已訂約但未在綜合財務報表中撥備的資本開支詳情。
於二零二六年
於二零二五年
六月三十日 十二月三十一日
人民幣千元
人民幣千元
（未經審核）
（經審核）
已訂約但未撥備
— 物業、廠房及設備

139

151

二零二六年中期報告

42

中期簡明綜合財務資料附註（續）

18

重大關聯方交易
(a)

與關聯方的重大交易
本公司董事認為以下與本集團有交易或結餘的各方為關聯方：
名稱

與本集團的關係

北京嘉華麗康醫療投資管理有限公司
首都醫科大學附屬北京兒童醫院
北京睦合嘉業健康管理有限公司
北京柏瑞康辰科技發展有限公司
上海新世紀浦錦兒科門診部有限公司
成都市婦女兒童中心醫院

本公司控股股東有重大影響
對本公司附屬公司有重大影響
受本公司控股股東的配偶趙娟女士控制
受本公司股東控制
受本公司股東控制
對本公司附屬公司有重大影響

以下重大交易乃由本集團與其關聯方進行。本公司董事認為，該等關聯方交易乃於一般業務過程
中及按本集團與各關聯方磋商的條款進行。
截至六月三十日止六個月
二零二六年
二零二五年
人民幣千元
人民幣千元
（未經審核）
（未經審核）
購買醫療檢查服務、實驗室測試服務、藥品及停車服務
— 首都醫科大學附屬北京兒童醫院
— 成都市婦女兒童中心醫院
購買清潔服務
—北京睦合嘉業健康管理有限公司
醫院物業租賃付款
— 成都市婦女兒童中心醫院(i)
(i)

43

醫院物業租賃包括支付予成都市婦女兒童中心醫院的租金費用。

新世紀醫療控股有限公司

1,244
1

4,320
4

4,654

4,871

—

5,250

中期簡明綜合財務資料附註（續）

18

重大關聯方交易（續）
(b)

貸款予關聯方
截至六月三十日止六個月
二零二六年
二零二五年
人民幣千元
人民幣千元
（未經審核）
（未經審核）
期初
利息開支

減：減值撥備
期末

(c)

29,313
—

29,313
—

29,313

29,313

(29,313)

(29,313)

—

—

銷售╱購買服務產生的期末╱年末結餘
於二零二六年六月三十日及二零二五年十二月三十一日與關聯方的結餘披露於附註9。

(d)

主要管理層成員薪酬
主要管理層成員包括董事及高級管理人員。就僱員服務已付或應付主要管理層成員的薪酬載列如
下：
截至六月三十日止六個月
二零二六年
二零二五年
人民幣千元
人民幣千元
（未經審核）
（未經審核）
薪資及花紅
退休金計劃供款
福利及其他開支

5,408
103
108

6,360
102
144

總計

5,619

6,606

二零二六年中期報告

44

中期簡明綜合財務資料附註（續）

18

重大關聯方交易（續）
(e)

一名關聯方提供物業
本集團根據與北京兒童醫院（一間位於中國北京的公立醫院）的公私合營安排成立北京新世紀兒童
醫院。根據該合作協議，北京兒童醫院同意提供其劃撥土地上的物業用於北京新世紀兒童醫院的
業務營運，而不向對方另外收費。

19

或然事項
截至二零二六年六月三十日，本集團並無任何對財務狀況或經營業績有重大影響的或然負債。

20

報告期後事項
除本中期簡明綜合財務資料另有披露者外，自二零二六年六月三十日起至本中期簡明綜合財務資料獲本
公司董事會批准當日止期間，並無發生重大期後事項。

45

新世紀醫療控股有限公司

釋義
「審核委員會」

指

董事會審核委員會；

「北京兒童醫院」

指

首都醫科大學附屬北京兒童醫院，僅因其於北京新世紀兒童醫院擁有
35.0%權益而成為本公司附屬公司層面的一名關連人士；

「北京新世紀兒童醫院」

指

北京新世紀兒童醫院有限公司，一間於二零零二年十二月十三日在中國
註冊成立的有限公司，為本公司的非全資附屬公司；

「董事會」

指

本公司董事會；

「英屬維京群島」

指

英屬維京群島；

「Century Star」

指

Century Star Investment Co., Ltd.，一間於二零一五年八月十四日在英
屬維京群島註冊成立的有限公司，由Jason ZHOU先生全資擁有；

「企業管治守則」

指

上市規則附錄C1所載企業管治守則；

「中國」

指

中華人民共和國；僅就本中期報告而言，「中國」不包括台灣、澳門特別
行政區及香港；

「本公司」

指

新世紀醫療控股有限公司，一間於二零一五年七月三十一日在開曼群島
註冊成立的有限公司，其股份於聯交所主板上市；

「董事」

指

本公司董事；

「DRG/DIP支付方式」

指

DRG支付指按疾病診斷相關分組付費，根據疾病診斷、治療方式和病人
個體特徵等情況形成不同的診斷相關組，每一個診斷相關組確定統一付
費標準；而DIP支付即按病種分值付費，根據年度醫保支付總額、醫保
支付比例及各醫療機構病例的總分值計算分值點值，形成支付標準；

二零二六年中期報告

46

釋義（續）

47

「僱員股份計劃」

指

本公司於二零二零年八月二十八日批准並採納的受限制股份獎勵計劃；

「本集團」或「我們」

指

本公司及其附屬公司；

「港元」

指

香港法定貨幣港元；

「香港財務報告準則」

指

香港財務報告準則；

「香港」

指

中國香港特別行政區；

「首次公開發售」

指

首次公開發售股份及本集團在聯交所上市；

「嘉華麗康」

指

北京嘉華麗康醫療投資管理有限公司，一間於二零零九年四月十六日在
中國註冊成立的有限公司，並為本公司的關連人士；

「JoeCare」

指

JoeCare Investment Co., Ltd.，一間於二零一五年七月十六日在英屬維
京群島註冊成立的有限公司，由Jason ZHOU先生全資擁有。JoeCare
為我們的控股股東之一；

「最後實際可行日期」

指

二零二六年八月三十一日，即確定本中期報告所載若干資料的最後實際
可行日期；

「上市規則」

指

聯交所證券上市規則，經不時修訂及補充；

「標準守則」

指

上市規則附錄C3所載上市發行人董事進行證券交易的標準守則；

「提名委員會」

指

董事會提名委員會；

「薪酬委員會」

指

董事會薪酬委員會；

「人民幣」

指

中國法定貨幣人民幣；

「受限制股份獎勵計劃」

指

本公司於二零一六年八月二十九日批准及採納的受限制股份獎勵計劃；

新世紀醫療控股有限公司

釋義（續）

「證券及期貨條例」

指

香港法例第571章證券及期貨條例；

「股東」

指

股份持有人；

「股份」

指

本公司已發行股本中每股0.0001美元的普通股，或在本公司股本發生後
續分拆、合併、重新分類或重組的情況下構成本公司普通股本組成部分
的股份；

「聯交所」

指

香港聯合交易所有限公司；

「監察委員會」

指

北京市門頭溝區監察委員會；

「美元」

指

美國法定貨幣美元；

「同比」

指

與上一年同期相比；及

「%」

指

百分比。

在本中期報告中，除文義另有所指外，「關連人士」、「控股股東」及「附屬公司」具有上市規則所賦予的涵義。

二零二六年中期報告

48