According to the semi annual report of 2020, as of June 30, 2020, in the first half of 2020, the company realized a business income of 39.8663 million yuan, a year-on-year increase of 26.60%; the net profit attributable to shareholders of listed companies was 120 million yuan, a year-on-year decrease of 7.11%. On October 14, Guoxin Health announced that the net profit attributable to shareholders of Listed Companies in the first three quarters of this year was estimated to be about – 162 million yuan, and the loss was about – 146 million yuan in the same period of last year. The basic earnings per share loss was about -0.1802 yuan. It is estimated that the net profit attributable to shareholders of Listed Companies in the third quarter of this year is about – 42.36 million yuan, and the loss in the same period of last year is about – 33.87 million yuan. < p > < p > according to the announcement, the company’s business as a whole showed a seasonal feature of low before and high after. During the reporting period, the company’s operating income increased by about 15 million yuan, or 28%, mainly due to the increase in the comprehensive management service income of medical insurance fund; during the reporting period, the total cost of the company increased by about 16 million yuan, or 9%, including financial expenses of – 2.4 million yuan, up year-on-year About 13 million yuan, mainly due to the decrease of interest income of the company due to the decrease of bank deposit interest rate, and the increase of exchange loss of the company due to the change of foreign currency exchange rate. < / P > < p > it is worth noting that the net profit after non deduction, which can best reflect the situation of the company’s main business, has been losing for 11 years in a row. The data shows that from 2009 to 2019, the company’s net profit after non deduction is negative. The scale of net profit before non deduction is also very small. From 2014 to 2019, the company’s net profit before non deduction was 25 million yuan, 23 million yuan, 28 million yuan, 17 million yuan, 188 million yuan and 17 million yuan respectively, barely maintaining profits. < / P > < p > it should be noted that the gross profit rate of the three main businesses of the company is negative, and the charges can not cover the cost. The company relies on non recurring profit and loss all the year round, deducting the non attributable net profit for 11 consecutive years. The non operating profit and loss mainly comes from the disposal income of non current assets and government subsidies. Recently, Guoxin Health announced that it plans to transfer its 45% equity of Guangdong Haihong through public listing, with the transfer price no less than 137.73 million yuan. For the sale of assets, the company said it was to focus on the company’s main business and further optimize the company’s financial structure. < p > < p > in 2019, by selling 99.7% equity of subsidiary Honghong Asset Management Co., Ltd. and 100% equity of Zhejiang Haihong Yaotong Network Technology Co., Ltd., the company realized a non current assets disposal income of RMB 45.105 million; Guangdong Haihong is the first third-party service organization that uses e-commerce technology to carry out bidding agency services and online transaction services in Guangdong Province, To provide perfect bidding agency services for governments at all levels, medical institutions and pharmaceutical production and operation enterprises. From January to June in 2019 and 2020, the operating income of the underlying assets will reach 31.6421 million yuan and 2.7393 million yuan respectively, and the net profit will be 7.5162 million yuan and – 1.6681 million yuan respectively. In fact, Guoxin health has been actively “self-help” in recent years. The company first introduced the concept of PBM (drug welfare management) and applied it to the field of national medical insurance cost control, and now it is in the leading position in the industry. But from the perspective of business performance, it may take some time for Guoxin health to deserve the title of “the first share of medical insurance cost control”. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.