1月30日，海吉亚医疗(06078)发布了一则盈警。公告中，海吉亚医疗表示预期2025年的公司收入约为40.0-40.5亿元(人民币，单位下同)，同比下降约9%至 10%;而在商誉减值影响下，公司当期净利润则约为1.4-2.0亿元，同比下降约66%至76%。 面对这份收入、净利润双降的业绩预告，二级市场投资者非但没有恐慌卖出，反而加入进场建仓。智通财经APP观察到，盈警发布次日，海吉亚医疗股价止 跌反弹并拉出一根大阳线，当日公司股价收涨3.59%，成交量放大至687.96万股，实现量价齐升。 一则盈警推动的股价反弹 自去年8月1日拉出一个大阴线开启下跌行情以来，海吉亚医疗股价持续下跌了近3个半月，直到去年12月15日公司发布了一则3亿元回购计划才止跌反弹。 从盘面来看，此轮股价反弹持续了超过半个月。12月17日，海吉亚医疗正式宣布执行回购后，公司股价于次日拉出一根大阳线收涨3.78%，并带动公司股价 继续上攻。不过，海吉亚股价在12月19日并未攻破BOLL线上轨且成交量未继续放大，因此盘中主力资金选择在BOLL线中上轨之间做了6个交易日的小平台 震荡，进一步洗去前期抄底浮筹。 12月31日，海吉亚医疗单日成交 ...

Core Viewpoint - The company, Haijia Medical, issued a profit warning on January 30, forecasting a revenue decline of approximately 9% to 10% for 2025, with expected revenue between 4.0 to 4.5 billion RMB, and a significant net profit drop of about 66% to 76% due to goodwill impairment [1] Group 1: Financial Performance - The company anticipates a revenue decline of 9% to 10% for 2025, projecting revenue of 4.0 to 4.5 billion RMB [1] - Net profit is expected to fall to approximately 1.4 to 2.0 billion RMB, reflecting a decline of 66% to 76% year-on-year [1] - Despite the profit warning, the company's stock price rebounded by 3.59% the following day, indicating investor confidence [1] Group 2: Market Reaction and Stock Performance - Following a significant drop in stock price since August 1, the company saw a rebound after announcing a 300 million RMB share buyback plan on December 15 [2] - The stock price continued to rise after the buyback announcement, with a notable increase of 3.78% on December 18 [2] - The stock experienced a "no volume rise" situation on January 2, confirming strong control by major funds, which set the stage for subsequent price increases [2][3] Group 3: Cash Flow and Operational Stability - The company reported a 33% to 41% increase in operating cash flow, indicating strong cash generation despite declining revenue and profit [5] - In the first half of 2025, operating cash flow reached 456 million RMB, a year-on-year increase of 29.9% [5] - The company maintained stable patient visits at 2.2 million, suggesting consistent demand for its services [7] Group 4: Strategic Outlook and Industry Position - The company is focusing on optimizing capital allocation, with a significant reduction in capital expenditures to 242 million RMB, down 28.5% year-on-year [8] - The company plans to prioritize acquisitions over new hospital constructions in the near term, with expected capital expenditures not exceeding 200 million RMB per year [8] - The ongoing consolidation in the healthcare sector due to policy changes is expected to benefit the company, positioning it as a leader in resource integration [9] Group 5: Valuation and Market Position - The company's current PE ratio stands at 16.67, below the industry average of 17.05, indicating a potentially undervalued position [11] - The company has conducted seven share buybacks in the past year, totaling 1.8836 million shares and 23.7234 million RMB in buyback value, reflecting a commitment to shareholder value [11]

Investment Rating - The report provides an "Outperform" rating for multiple companies in the healthcare sector, including BeiGene, JD Health, WuXi Biologics, and others, indicating a positive outlook for these stocks [1]. Core Insights - The macro and industry environment is improving due to the resolution of policy uncertainties, the release of significant clinical data, and a resurgence in global M&A activity, leading to a notable increase in investor sentiment towards innovative drugs for 2026 [4][11]. - In oncology, the PD-1/VEGF dual antibody approach is transitioning from "mechanism validation" to "clinical and industrial resonance," with multiple global Phase III trials underway, expected to catalyze approvals and data releases within the year [5][17]. - The metabolic sector is seeing growth in the cash-pay market for GLP-1 drugs, driven by limited insurance coverage and high out-of-pocket costs, prompting companies to enhance accessibility through direct sales and pricing adjustments [6][25]. - In the autoimmune space, there is a growing concentration risk among major products from multinational corporations (MNCs), with new antibody platforms expected to yield significant data in 2026, potentially leading to new business development opportunities [7]. - The central nervous system (CNS) investment focus remains on advancing Aβ monoclonal antibody treatments, with key data expected to open up early intervention market opportunities [9]. Summary by Sections Oncology - The PD-1/VEGF dual antibody's clinical and industrial certainty is strengthening, with major companies conducting multiple global Phase III trials across high-value indications [17]. - The Pan-RAS precision therapy is entering a realization phase, with key Phase III data expected in 2026 for pancreatic cancer and NSCLC [22]. Metabolic - The cash-pay market for GLP-1 drugs is expanding due to limited insurance coverage, with companies like Eli Lilly and Novo Nordisk adopting different direct-to-consumer strategies to enhance accessibility [25][26]. - Small nucleic acid therapies are expected to upgrade treatment paradigms, showing competitive data in weight loss and safety profiles when combined with GLP-1 [30]. Autoimmune - MNCs are increasingly reliant on a few blockbuster products, with structural opportunities arising from new antibody platforms expected to report data in 2026 [7]. - The trend towards oral formulations in autoimmune diseases is gaining traction, offering advantages in adherence and competitive differentiation [7]. CNS - The focus in CNS remains on Aβ monoclonal antibody treatments, with advancements expected to shift treatment towards earlier intervention populations [9]. - New delivery methods, such as systemic administration of small nucleic acids, are being explored as complementary approaches [9].

Core Viewpoint - The company forecasts a revenue of approximately 40.0-40.5 billion yuan for 2025, representing a year-on-year decline of 9%-10%, with a net profit attributable to shareholders of about 1.4-2.0 billion yuan, down 66%-76% [1][2]. Financial Performance - In the second half of 2025, the company expects to achieve revenue of 20.1-20.6 billion yuan, a year-on-year decline of 0-3%, and an adjusted net profit of approximately 1.88-2.28 billion yuan, with a change of -7% to +13% [2][3]. - The operating cash flow for the second half of 2025 is projected to grow by 36%-53%, reaching approximately 4.8-5.4 billion yuan [2][3]. - The company anticipates a net cash flow from operating activities of about 9.4-10.0 billion yuan for 2025, reflecting a year-on-year increase of 33%-41% [1][2]. Business Strategy and Market Position - The company is focusing on deepening discipline construction and introducing AI to enhance operations, which is expected to improve revenue and patient visits in the second half of 2025 [2][3]. - The company plans to expand its overseas tumor diagnosis and treatment services, starting in 2025, primarily from its hospital in Chongqing, with potential growth into other hospitals [1][3]. - The company operates 16 hospitals and has ongoing projects that are expected to contribute to future growth, including the opening of new facilities [5]. Industry Trends - The impact of DRGs (Diagnosis-Related Groups) payment reform on average hospitalization costs is expected to diminish, allowing for a potential recovery in overall revenue growth in 2026 [3][4]. - The aging population in China is driving a continuous increase in demand for tumor diagnosis and treatment, positioning the company favorably as a leading comprehensive cancer hospital group [4]. Shareholder Confidence - The company's founder and associated parties have consistently increased their holdings, demonstrating confidence in the company's long-term development [5]. - The company has initiated a share repurchase plan, further indicating its commitment to shareholder returns and long-term growth [5]. Profit Forecast - The company has adjusted its profit forecasts for 2025-2027, expecting revenues of 40.02 billion yuan, 44.59 billion yuan, and 50.19 billion yuan, with respective year-on-year growth rates of -10.00%, 11.44%, and 12.55% [5].

证券之星消息，2月5日南向资金增持43.44万股海吉亚医疗（06078.HK）。近5个交易日中，获南向资金 增持的有3天，累计净增持58.28万股。近20个交易日中，获南向资金减持的有13天，累计净减持430.66 万股。截至目前，南向资金持有海吉亚医疗（06078.HK）2.02亿股，占公司已发行普通股的32.71%。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 海吉亚医疗控股有限公司是一家主要提供医疗服务的投资控股公司。该公司通过两个业务部门开展业 务。医院业务分部从事提供肿瘤一站式综合诊疗服务，围绕肿瘤核心业务开展多学科医疗服务，包括提 供医疗放疗、化疗、手术、靶向在内的多重肿瘤医疗服务，逐步覆盖癌症诊断、治疗与康复等各阶段。 其它业务分部主要从事其他业务。该公司主要在国内市场经营其业务。 ...

海吉亚医疗(06078)发布公告，该公司于2026年2月4日斥资577.69万港元回购43.86万股股份，每股回购 价格为12.96-13.35港元。 ...

智通财经APP讯，海吉亚医疗(06078)发布公告，该公司于2026年2月4日斥资577.69万港元回购43.86万股 股份，每股回购价格为12.96-13.35港元。 ...

格隆汇2月4日丨海吉亚医疗(06078.HK)公告，2月4日耗资577.7万港元回购43.9万股，每股回购价12.96- 13.35港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 呈交日期： 2026年2月4日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 06078 | 說明 | 普通股 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包 ...

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: 2026年1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: 海吉亞醫療控股有限公司 呈交日期: 2026年2月4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) | 06078 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | 本月底法定/註 ...