JRSS Announces the second quarter of 2018 Results

 

On August 13, 2018, JRSIS HEALTH CARE CORPORATION(JRSS), a full medical service hospital group serving in Harbin City of Heilongjiang, announced financial results for the quarter ended June 30, 2018.

“JRSS had another strong performance this quarter with revenue increased 31% than the same period last year, the total revenue increased to $7.02 Million this quarter. " Xuewei Zhang said, CFO of JRSS. “We continue to be excited about the growth in our healthcare businesses.”



Financial Summary for the six months ended June 30, 2018 and 2017


JRSIS HEALTH CARE CORPORATION reported consolidated revenues of $13.83 million for the six months ended June 30, 2018, an increase of 27% compared to the same period of 2017. The increase was primarily as result of the number of treated inpatients growing to 9,956 patients, about more than 931 compared to the 9,025 patients treated in six months ended June 30, 2017, and two new hospital branches has been opened and operated, as result of revenue increase $0.20 million. The increase was mainly the operation of headquarter of the hospital Jiarun, was $13.63 million, an increase of 25% as compared with the revenue of $10.87 million for the six months ended June 30, 2017.


For the six months ended June 30, 2018, Net income was $4.07 million, an increase of $1.18 million or 41% compared to the same period of 2017. EBITDA was $5.44 million, an increase of 31% compared to the same period of 2017. For the six months ended June 30, 2018 and 2017, total operating costs and expenses was $9.74 million and $7.95 million, respectively.


Financial Summary for the three months ended June 30, 2018 and 2017

JRSIS HEALTH CARE CORPORATION reported consolidated revenues of $7.02 million for the three months ended June 30, 2018, an increase of 31% compared to the same period of 2017. The increase was primarily as result of the number of treated inpatients growing to 5,094 patients, about more than 467 patients compared to 4,627 patients treated in three months ended June 30, 2017, and two new hospital branches has been opened and operated, as result of revenue increase $0.20 million. The increase was mainly the operation of headquarter of the hospital Jiarun, was $6.82 million, an increase of 27% as compared with the revenue of $5.36 million for the three months ended June 30, 2017.


For the three months ended June 30, 2018, Net income was $2.04 million, an increase of $0.74 million or 57% compared to the same period of 2017. EBITDA was $2.73 million, an increase of 39% compared to the same period of 2017. For the three months ended June 30, 2018 and 2017, total operating costs and expenses was $4.97 million and $4.04 million, respectively.


History of Strong Growth


Financial Highlights:

Revenues-JRSS had another strong performance this quarter, with revenue increased 31% compared to the same period of 2017, increased to $7.02 million.


Property and equipment-JRSS purchased $2.13 million worth equipment for the hospital for second quarter of 2018.

FORWARD-LOOKING STATEMENTS

This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. All statements included in this press release, other than statements of historical facts, address matters that JRSIS HEALTH CARE CORPORATION (“the company“or“JRSS”) reasonably expects, believes or anticipates will or may occur in the future. These statements are made on the basis of management‘s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. Such statements are subject to various as sumptions, risks and uncertainties. In vestors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially as those discussed in the JRSS‘s reports filed with the Securities and Exchange Commission from time to time.


More information about JRSS:

https://www.sec.gov/Archives/edgar/data/1597892/000114420418043706/tv500433_10q.htm 


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