Concord Medical Stock Price, News & Analysis

Concord Medical Services Holdings Limited (NYSE: CCM) announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2022. This report is accessible on both Concord Medical's investor relations website and the SEC's website. Concord Medical specializes in oncology services, providing a full cycle of cancer diagnosis, treatment, education, and prevention via a network of radiotherapy and diagnostic imaging centers in China. The company emphasizes the deployment of advanced technology, including proton therapy systems, to enhance cancer care quality and accessibility. Shareholders can request a hard copy of the report free of charge.

Concord Medical Services Holdings Limited (NYSE: CCM) will hold its 2022 annual general meeting of shareholders on December 30, 2022, at 10:00 a.m. Beijing Time. The meeting will take place at the Global Trade Center in Beijing, and the shareholder record date is November 30, 2022. No proposals will be submitted for approval, as the meeting aims to facilitate discussions between shareholders and management. Additionally, the Company’s annual report on Form 20-F for the fiscal year ending December 31, 2021, is accessible on its investor relations website.

Concord Medical Services Holdings Limited (NYSE: CCM) successfully hosted the Second Annual Academic Meeting with MD Anderson Cancer Center on November 11-12, 2022. The event focused on 'Immuno-Oncology: Confronting the Whole Cancer Continuum,' gathering experts from China and the U.S. to discuss advancements in cancer treatment and research. Notable topics included immunotherapy for cancer prevention and emerging cellular therapies. The meeting attracted nearly 100 oncology scholars globally and demonstrated Concord Medical's commitment to enhancing international collaboration in oncology.

Concord Medical Services Holdings Limited (NYSE: CCM) announced key management changes effective September 30, 2022. Chief Financial Officer and President Yaw Kong Yap stepped down upon reaching retirement age, with Boxun Zhang appointed as his successor. Independent directors Boxun Zhang and Weibo Yin resigned for personal reasons. New independent directors Wayne Yu and Hongzhong Liu joined the Board, enhancing its expertise. The company expresses gratitude to outgoing management and directors, emphasizing the aim to continue delivering value to shareholders through its oncology services across China.

Concord Medical Services Holdings Limited (NYSE: CCM) reported a significant financial downturn for the first half of 2022, with total net revenues of RMB144.3 million (US$21.5 million), a 25.2% decline from RMB192.9 million in the same period in 2021. The company's gross loss surged to RMB88.7 million (US$13.2 million), compared to a gross profit of RMB2.4 million last year, reflecting a gross loss margin of 61.5%. Net loss attributable to shareholders rose to RMB114.7 million (US$17.1 million). Although revenues from its hospital business increased by 29.2%, the network business plummeted by 52.3% due to COVID-19 disruptions.

Concord Medical Services Holdings Limited (NYSE: CCM) announced that its subsidiary, Concord Healthcare Group, filed an application on May 31, 2022, for a minority stake listing on The Stock Exchange of Hong Kong Limited. The announcement highlights Concord Healthcare as a leading oncology-focused platform in China, offering comprehensive cancer care services. However, completion of the listing is uncertain and subject to the HKSE's approval and market conditions. The Company emphasizes that this announcement does not constitute an offer to sell securities in any jurisdiction.