Guangzhou Kingmed Diagnostics Group’s first quarter 2024 earnings: exceeds expectations

Guangzhou Kingmed Diagnostics Group (SHSE:603882) First Quarter 2024 Results

Key financial results

• Revenue: CN¥1.84 billion (down 13% from Q1 2023).
• Net loss: CN¥18.6 million (down 113% from CN¥149.6 million profit in Q1 2023).
• CN¥0.04 loss per share (vs. CN¥0.32 profit in Q1 2023).

All figures in the chart above are for the subsequent 12 month period (TTM).

Guangzhou Kingmed Diagnostics Group’s revenues and profits are not as expected

Revenue missed analyst estimates by 24%. Earnings per share (EPS) also fell short of analyst expectations.

Looking ahead, sales are expected to grow at an average annual rate of 22% over the next two years, compared to a 14% growth forecast for China’s healthcare sector.

Performance of the Chinese healthcare sector.

The company’s shares are down 14% from a week ago.

Risk analysis

Before you take the next step, you should be aware of the Two warning signs for Guangzhou Kingmed Diagnostics Group (1 is a bit concerning!) that we discovered.

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