Core Viewpoint - The company Jin Xin Reproductive (01951) is expected to see a recovery in its business in the second half of 2025, leading to a 19% increase in the adjusted net profit forecast for 2025 to 200 million yuan. However, the forecast for 2026 has been reduced by 34% to 280 million yuan due to increased costs and changes in financial confirmation methods, with a new forecast for 2027 set at 360 million yuan. The current stock price corresponds to a 24.8 times P/E ratio for 2026, and the target price has been lowered by 10% to 3.5 HKD, indicating a potential upside of 41.1% from the current level [1]. Group 1 - The adjusted net profit for fiscal year 2025 is projected to be approximately 200 million yuan, with a slight year-on-year decline in revenue expected [2]. - The company is anticipated to release its full-year results for 2025 in late March, with significant quarter-on-quarter improvements expected in the second half of 2025 [2]. Group 2 - The company is expected to see a gradual improvement in cycle numbers starting from the second half of 2025, with a return to stable growth in 2026, driven by the inclusion of assisted reproduction in health insurance policies [3]. - The overall cycle count for fiscal year 2025 is projected to decline by 1.4% year-on-year, a significant improvement compared to earlier periods [3]. Group 3 - The company has completed the handling of overseas asset impairment and other risk issues in the first half of 2025, with a notable improvement in the second half of the year [4]. - The adjusted net profit for fiscal year 2025 is expected to be around 200 million yuan, with EBITDA for 2026 projected to return to approximately 550 million yuan, indicating improvements in net profit and free cash flow [4]. Group 4 - The company is focusing on its core business and plans to enhance shareholder returns, with the new Shenzhen hospital expected to be fully operational by the first quarter of 2026 [5]. - The company is actively pursuing a restructuring of its U.S. HRC operations, with significant improvements and capital recovery expected by the end of the first half of 2026 [5].

Core Viewpoint - The company is expected to report a slight decline in revenue for FY25, with an adjusted net profit of approximately 200 million yuan, but a noticeable improvement in both revenue and profit is anticipated in the second half of FY25 [1][2]. Group 1: Revenue and Profit Forecast - For FY25, the company anticipates a year-on-year decline in revenue, with a cumulative cycle count down by 1.4% compared to previous periods, but this is an improvement from declines of 8.3% and 5.2% in the first half of FY25 and the first three quarters of FY25, respectively [1]. - The company expects a recovery in cycle counts and revenue growth of 5-10% in FY26, driven by the inclusion of assisted reproduction in health insurance policies, which is expected to increase the proportion of artificial insemination (IUI) cycles [1]. Group 2: Operational Quality and Asset Structure - The company has completed the handling of overseas asset impairment and other risk issues in the first half of FY25, leading to a forecasted adjusted net profit of approximately 200 million yuan for FY25, with significant improvements expected in the second half [2]. - Continuous efforts in structural optimization, cost management, and asset quality improvement are expected to yield positive results in FY26, with an EBITDA forecast of around 550 million yuan, alongside improvements in net profit and free cash flow [2]. Group 3: Strategic Focus and Shareholder Returns - The company plans to complete the relocation of its new Shenzhen hospital by the first quarter of FY26, aiming to enhance its market share in core business areas [2]. - The company is actively pursuing a restructuring of its U.S. HRC operations, with significant improvements and capital recovery expected by the end of the first half of FY26, and plans to initiate a long-term stock repurchase program after reducing leverage [2]. Group 4: Earnings Forecast and Valuation - The adjusted net profit forecast for FY25 has been raised by 19% to 200 million yuan due to business recovery in the second half, while the FY26 forecast has been lowered by 34% to 280 million yuan, with a new forecast for FY27 set at 360 million yuan [2]. - The current stock price corresponds to a P/E ratio of 24.8 times for FY26 based on adjusted net profit, with a target price adjustment of 10% down to 3.5 HKD, reflecting a potential upside of 41.1% [2].

Group 1 - The core viewpoint of the article highlights the significant increase in southbound capital holdings in Jinxin Reproductive Medicine (01951.HK), with a net increase of 1,745,250 shares over the last five trading days [1] - Over the past 20 trading days, there have been 11 days of net reductions in southbound capital holdings, totaling a decrease of 13,433,500 shares [1] - As of now, southbound capital holds 1.454 billion shares of Jinxin Reproductive Medicine, accounting for 52.73% of the company's total issued ordinary shares [1] Group 2 - Jinxin Reproductive Medicine Group Limited is an investment holding company primarily providing in vitro fertilization (IVF) services [1] - The company offers a range of services through its subsidiaries, including assisted reproductive services, management services, ambulatory surgical center facility services, auxiliary medical services, obstetrics and pediatrics medical services, as well as the sale of medical consumables and equipment [1] - The company's services are mainly provided in China and the United States [1]

Group 1 - Southbound funds increased their holdings in Jinxin Fertility (01951.HK) by 5.839 million shares on January 22 [1] - Over the past five trading days, southbound funds have increased their holdings for four days, with a total net increase of 9.23 million shares [1] - In the last 20 trading days, there were 11 days of net reductions by southbound funds, totaling 9.282 million shares [1] Group 2 - As of now, southbound funds hold 1.453 billion shares of Jinxin Fertility, accounting for 52.69% of the company's issued ordinary shares [1] - Jinxin Fertility Medical Group Limited is an investment holding company primarily providing in vitro fertilization (IVF) services [1] - The company offers assisted reproductive services, management services, mobile surgical center facility services, auxiliary medical services, obstetrics and pediatrics medical services, as well as sales of medical consumables and equipment, mainly in China and the United States [1]

Group 1 - Southbound funds increased their holdings in Jinxin Fertility (01951.HK) by 4.042 million shares on January 20 [1] - Over the past 5 trading days, there were 3 days of net reductions by southbound funds, totaling a net decrease of 7.806 million shares [1] - In the last 20 trading days, there were 12 days of net reductions by southbound funds, with a cumulative net decrease of 23.608 million shares [1] Group 2 - As of now, southbound funds hold 1.443 billion shares of Jinxin Fertility, accounting for 52.31% of the company's issued ordinary shares [1] - Jinxin Fertility Medical Group Co., Ltd. is an investment holding company primarily providing in vitro fertilization (IVF) services [1] - The company offers assisted reproductive services, management services, mobile surgical center facility services, auxiliary medical services, obstetrics and pediatrics medical services, as well as sales of medical consumables and equipment, mainly in China and the United States [1]

Group 1 - Southbound funds increased their holdings in Jinxin Fertility (01951.HK) by 2.1385 million shares on January 19 [1] - Over the past 5 trading days, southbound funds have reduced their holdings on 4 days, with a total net reduction of 17.843 million shares [1] - In the last 20 trading days, there were 13 days of net reductions by southbound funds, totaling 28.1335 million shares [1] Group 2 - As of now, southbound funds hold 1.439 billion shares of Jinxin Fertility, accounting for 52.17% of the company's issued ordinary shares [1] - Jinxin Fertility Medical Group Limited is an investment holding company primarily providing in vitro fertilization (IVF) services [1] - The company offers assisted reproductive services, management services, mobile surgical center facility services, auxiliary medical services, obstetrics and pediatrics medical services, as well as sales of medical consumables and equipment, mainly in China and the United States [1]

Core Viewpoint - Jinxin Reproductive (01951.HK) experienced a significant intraday increase, rising over 7% at one point and closing with a gain of 5.28%, priced at 2.59 HKD, with a trading volume of 165 million HKD [2] Company Summary - Jinxin Reproductive's stock performance indicates strong market interest, as evidenced by the notable price increase and trading volume [2]

Core Viewpoint - Jinxin Reproductive Medicine (01951) shows a positive operational trend in Q4, continuing the improvement seen in the first three quarters, with a notable increase in resilience in business operations [1] Group 1: Company Performance - The stock price of Jinxin Reproductive Medicine increased by over 7% during the trading session, closing up 5.28% at HKD 2.59, with a trading volume of HKD 165 million [1] - As of the end of 2025, the cumulative number of IVF egg retrieval cycles is expected to see a reduction in year-on-year decline from 5.2% in the first three quarters to 1.4% [1] Group 2: Industry Context - Jinxin Reproductive Medicine, as a leading player in the domestic assisted reproductive industry, is anticipated to benefit from the ongoing enhancement of fertility policies in China and the United States [1] - The company is projected to experience marginal performance improvement in 2026, supported by a low base effect [1]

Core Viewpoint - The stock of Jinxin Fertility (01951) has shown a positive trend, with a rise of over 7% during the trading session and currently up by 5.28%, indicating strong market interest and confidence in the company's performance [1] Group 1: Company Performance - Jinxin Fertility's fourth-quarter operational data continues to show improvement, following a positive trend from the previous three quarters, demonstrating resilient business operations [1] - By the end of 2025, the cumulative number of IVF egg retrieval cycles is expected to see a reduction in year-on-year decline from 5.2% in the previous three quarters to 1.4%, indicating a significant recovery in performance [1] Group 2: Market Context - As a leading player in the domestic assisted reproductive industry, Jinxin Fertility is poised to benefit from the ongoing enhancement of fertility policies in China and the United States, with expectations for marginal performance improvement in 2026 from a low base [1]

Core Viewpoint - Southbound funds have reduced their holdings in Jinxin Fertility (01951.HK) significantly, indicating a potential shift in investor sentiment towards the company [1] Group 1: Shareholding Changes - On January 16, southbound funds reduced their holdings by 7.308 million shares of Jinxin Fertility [1] - Over the past five trading days, there have been reductions in holdings for four days, totaling a net decrease of 19.438 million shares [1] - In the last 20 trading days, there were reductions on 14 days, with a cumulative net decrease of 31.90 million shares [1] Group 2: Current Shareholding Status - As of now, southbound funds hold 1.437 billion shares of Jinxin Fertility, which represents 52.09% of the company's total issued ordinary shares [1] Group 3: Company Overview - Jinxin Fertility Medical Group Limited is an investment holding company primarily providing in vitro fertilization (IVF) services [1] - The company offers a range of services through its subsidiaries, including assisted reproductive services, management services, mobile surgical center facilities, auxiliary medical services, and sales of medical consumables and equipment [1] - Jinxin Fertility operates mainly in China and the United States [1]