股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 華潤醫療控股有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01515 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,040,000,000 | HKD | | 0.00025 HKD | | | 760,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | | 本月底結存 | | | 3,040,000,000 | HKD | | 0.00025 HKD | | | 760,000 | 本月底法定/註冊股本 ...

Core Viewpoint - CICC has downgraded the net profit forecast for China Resources Medical (01515) for 2025/2026 by 16.8%/15.6% to RMB 471 million/RMB 499 million, reflecting a year-on-year change of -16.8%/+6.0% due to the impact of medical insurance settlement adjustments [1] Group 1: Financial Performance - In 1H25, the company's revenue was RMB 4.525 billion, a year-on-year decrease of 9.1%, and the net profit attributable to shareholders was RMB 340 million, down 21.8%, which was below CICC's expectations [2] - The company's hospital business revenue in 1H25 was RMB 4.259 billion, a decline of 7.4%, with outpatient revenue at RMB 1.813 billion (-4.4%) and inpatient revenue at RMB 2.446 billion (-9.6%) [4] - The gross profit from hospital operations was RMB 670 million, down 27.4%, with a gross margin of 15.7%, and the segment profit for hospital operations was RMB 255 million, a decrease of 51.1% [4] Group 2: Business Operations - The company managed and operated 103 medical institutions across 10 provinces and cities in China as of June 30, 2025, with a total of 18,286 hospital beds and a bed occupancy rate of 80.57%, compared to 79.93% in 1H24 [3] - The proportion of revenue from hospital operations increased to 94.1%, up 1.7 percentage points year-on-year, while the IOT business revenue decreased, with other business revenue at RMB 266 million, down 29.3% [3] Group 3: Cost Management - The administrative and other operating expense ratio in 1H25 was 10.4%, an increase of 0.9 percentage points year-on-year, while the financial expense ratio was 0.6%, a decrease of 0.2 percentage points due to adjustments in the debt structure [5] - The company has achieved cost reduction and efficiency improvement, maintaining a robust financial structure through continuous optimization of its capital structure [5]

智通财经APP获悉，中金发布研报称，考虑医保结算调整的影响，下调华润医疗(01515)2025/2026年净 利润预测16.8%/15.6%至4.71亿元/4.99亿元，分别同比-16.8%/+6.0%。该行维持跑赢行业评级，考虑到 公司加强医保精细化管理并推进重点医院学科建设，该行维持目标价5.0港币，对应2025/2026年12.6 倍/11.7倍市盈率。当前股价对应2025/2026年9.2倍/8.6倍市盈率，离目标价有37.0%的上行空间。 中金主要观点如下： 1H25净利润低于该行预期 公司公布1H25业绩：收入45.25亿元人民币，同比-9.1%;归母净利润3.40亿元人民币，同比-21.8%，对应 每股收益0.27元，净利润低于该行预期，主要系受到医保结算调整的影响。 医院业务占比提升，IOT业务缩减 医院业务方面，2025年上半年门急诊人次稳步提升 根据公司公告，1H25，公司医院业务收入人民币42.59亿元，同比-7.4%;其中，门急诊业务收入人民币 18.13亿元，同比-4.4%;住院业务收入人民币24.46亿元，同比-9.6%;公司自有医院诊疗门急诊量和住院量 分别为510万人次和27万 ...

Core Viewpoint - The company's net profit for 1H25 fell short of expectations, primarily due to adjustments in medical insurance settlements, with a reported revenue of 4.525 billion RMB, down 9.1% year-on-year, and a net profit of 340 million RMB, down 21.8% year-on-year [1][2]. Financial Performance - Revenue for the hospital business in 1H25 was 4.259 billion RMB, a decrease of 7.4% year-on-year, with outpatient revenue at 1.813 billion RMB (down 4.4%) and inpatient revenue at 2.446 billion RMB (down 9.6%) [2]. - The company managed 103 medical institutions across 10 provinces and cities in China, with a total of 18,286 operational hospital beds and a bed occupancy rate of 80.57%, an increase from 79.93% in 1H24 [1]. - The gross profit for the hospital business was 670 million RMB, down 27.4%, with a gross profit margin of 15.7% [2]. Business Segments - The hospital business accounted for 94.1% of total revenue, reflecting a year-on-year increase of 1.7 percentage points [1]. - The IOT business saw a reduction in scale, with other business revenue at 266 million RMB, down 29.3% year-on-year [1]. Cost Management - Administrative and other operating expense ratio increased to 10.4%, up 0.9 percentage points year-on-year, while financial expense ratio decreased to 0.6%, down 0.2 percentage points, due to adjustments in debt structure [2]. Profit Forecast and Valuation - The net profit forecasts for 2025 and 2026 have been revised down by 16.8% and 15.6% to 471 million RMB and 499 million RMB, respectively [3]. - The target price is maintained at 5.0 HKD, corresponding to 12.6 times and 11.7 times the price-to-earnings ratio for 2025 and 2026, with a current stock price reflecting 9.2 times and 8.6 times the price-to-earnings ratio, indicating a potential upside of 37.0% to the target price [3].

Core Insights - The company reported a revenue of RMB 4.525 billion for the first half of 2025, a decrease of 9.07% year-on-year [1] - The profit attributable to the company's owners was RMB 340 million, down 21.76% year-on-year, with earnings per share at RMB 0.27 [1] - The decline in net profit is primarily attributed to a decrease in average medical insurance fees, which affected the operating profits of member medical institutions [1] Financial Performance - The hospital business segment generated revenue of RMB 4.259 billion, a decrease of 7.4% year-on-year [1] - The number of outpatient and emergency visits increased by 1.0% to approximately 5.1 million, while inpatient visits decreased by 3.9% to approximately 270,000 [1] - Average revenue per outpatient and inpatient visit declined by 5.8% due to the decrease in average medical insurance fees [1] - The gross profit for the hospital business segment was RMB 670 million, down 27.4%, with a gross margin of 15.7%, compared to 20.1% in the same period last year [1] - The profit for the hospital business segment was RMB 255 million, a decrease of 51.1% year-on-year [1] Other Business Segments - Other business revenue was RMB 266 million, a decrease of 29.3% year-on-year, while segment profit increased by 96.9% to RMB 292 million [2] - After excluding a one-time management fee and compensation of approximately RMB 210 million from the Yanhua IOT agreement, the segment profit was RMB 86 million, down 42.1% year-on-year [2] - The reduction in IOT business scale contributed to the decline in profit contribution during the reporting period [2]

Core Viewpoint - China Resources Medical (01515) reported a decline in both revenue and net profit for the six months ending June 30, 2025, indicating challenges in the healthcare sector, particularly in hospital operations [1] Financial Performance - Revenue for the period was 4.525 billion RMB, a decrease of 9.07% year-on-year [1] - Net profit attributable to shareholders was 340 million RMB, down 21.76% compared to the previous year [1] - Basic earnings per share were 0.27 RMB, with an interim dividend proposed at 0.05 RMB per share [1] Business Segment Analysis - The hospital business segment generated revenue of 4.259 billion RMB, reflecting a 7.4% decline year-on-year [1] - Outpatient and emergency visits increased by 1.0%, while inpatient visits decreased by 3.9% [1] - Average revenue per outpatient and inpatient visit declined by 5.8% due to a decrease in average medical insurance costs [1] Operational Metrics - As of June 30, 2025, the group managed and operated 103 medical institutions across 10 provinces and cities in China [1] - The total outpatient visits and inpatient admissions for the group were approximately 5.1 million and 270,000, respectively, showing a 1.0% increase and a 3.9% decrease year-on-year [1]

截至2025年6月30日，集团在中国10个省、市共管理运营103家医疗机构。于报告期内，集团自有医院诊 疗门急诊量和住院量分别约为510万人次和27万人次，分别较去年同期增长1.0%及降低3.9%。 公告称，于报告期内，医院业务分部营业额为42.59亿元，同比降低7.4%。其中，门急诊人次增长 1.0%，住院人次降低3.9%;因医保次均费用下降，门急诊和住院次均收入各下降5.8%。 华润医疗(01515)发布截至2025年6月30日止六个月的中期业绩，收益45.25亿元(人民币，下同)，同比减 少9.07%;股东应占溢利3.4亿元，同比减少21.76%;每股基本盈利0.27元;拟派发中期股息每股5分。 ...

免責聲明 EF002 執行董事胡定旭先生、傅廷美先生、周鵬先生及羅詠詩女士。 EF002 | 香港 | | | --- | --- | | 代扣所得稅信息 | | | 股息所涉及的代扣所得稅 | 不適用 | | 發行人所發行上市權證/可轉換債券的相關信息 | | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 可就部分股息行使貨幣選擇權只適用於香港中央結算(代理人)有限公司。 | | | 發行人董事 | | | 於本公告日期及自單寶杰先生之辭任於同日生效後，董事會成員包括執行董事于海先生及楊敏女士；非執行董事葛路女士；獨立非 | | 第 2 頁 共 2 頁 v 1.1.1 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | --- | --- | | | 股票發行人現金股息（可選擇貨幣）公告 | | 發行人名稱 | 華潤醫療控股有限公司 | | 股份代號 | 01515 | | 多櫃檯股份代號及貨幣 | 不適用 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 對 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 （於開曼群島註冊成立的有限責任公司） （股份代號：1515） 截 至2025年6月30日 止 六 個 月 之 中 期 業 績 公 告 華 潤 醫 療 控 股 有 限 公 司（「本 公 司」）董 事 會（「董 事 會」）欣 然 宣 佈，本 公 司 及 其 附 屬 公 司（「本 集 團」）截 至2025年6月30日 止 六 個 月（「報 告 期」）之 未 經 審 核 綜 合 業 績，如 下： 中 期 簡 明 綜 合 損 益 及 其 他 全 面 收 益 報 表 截 至2025年6月30日 止 六 個 月－未 經 審 核 截 至6月30日 止 六 個 月 2025年 2024年 | | | | | | | | | | | | 幣 ...

格隆汇8月26日丨华润医疗(01515.HK)发布公告，单宝杰先生因其他工作安排辞任执行董事职务，自 2025年8月26日起生效。 ...