Revenue and Profit - Revenue for the third quarter was RMB 822.55 million, a slight increase of 0.04% year-over-year[2] - Net profit attributable to shareholders decreased by 9.10% to RMB 188.46 million in the third quarter[2] - Operating revenue for the first three quarters of 2024 reached 2.23 billion yuan, compared to 2.18 billion yuan in the same period last year[14] - Net profit for the first three quarters of 2024 was 601.76 million yuan, slightly down from 612.02 million yuan in the same period last year[16] - Net profit attributable to shareholders of the parent company was RMB 498.27 million, compared to RMB 511.73 million in the previous period[18] Assets and Liabilities - Total assets increased by 7.21% to RMB 6.22 billion compared to the end of the previous year[3] - Shareholders' equity rose by 8.07% to RMB 4.13 billion compared to the end of the previous year[3] - Total assets increased to 6.22 billion yuan, up from 6.01 billion yuan in the previous period[12] - Total liabilities decreased to 1.73 billion yuan, down from 1.88 billion yuan in the previous period[13] - Total equity attributable to the parent company increased to 4.13 billion yuan, up from 3.81 billion yuan in the previous period[13] - The company's total equity increased to 4.5 billion yuan, up from 4.12 billion yuan in the previous period[13] Cash Flow - Operating cash flow for the first nine months increased by 3.37% to RMB 646.77 million[2] - Net cash flow from operating activities was RMB 646.77 million, compared to RMB 625.70 million in the previous period[19] - Net cash flow from investing activities was negative RMB 258.55 million, compared to negative RMB 638.49 million in the previous period[20] - Net cash flow from financing activities was negative RMB 385.08 million, compared to positive RMB 63.74 million in the previous period[20] - Cash and cash equivalents at the end of the period were RMB 597.22 million, compared to RMB 680.50 million in the previous period[20] Earnings and Shareholder Information - Basic earnings per share (EPS) for the third quarter decreased by 8.70% to RMB 0.42[2] - Total number of ordinary shareholders at the end of the reporting period is 85,980[7] - Hangzhou Baoqun Industrial Group Co., Ltd. holds 151,589,199 shares, representing 33.89% of the total shares[7] - ICBC-Credit Suisse Healthcare Mix Fund holds 15,945,510 shares, representing 3.56% of the total shares[7] - Minority shareholders' profit and loss was RMB 103.49 million, compared to RMB 100.29 million in the previous period[18] - Total comprehensive income attributable to shareholders of the parent company was RMB 594.09 million, compared to RMB 608.92 million in the previous period[18] Financial Expenses and Investments - Financial expenses increased by 51.39% due to higher lease liability interest and reduced interest income[6] - Long-term equity investments as of September 30, 2024, amount to 918,604,908.12 RMB, compared to 767,267,812.39 RMB at the end of 2023[11] - Fixed assets as of September 30, 2024, amount to 815,758,051.19 RMB, compared to 840,426,205.34 RMB at the end of 2023[11] - Construction in progress as of September 30, 2024, amount to 1,061,059,999.47 RMB, compared to 839,183,666.99 RMB at the end of 2023[11] - Short-term borrowings remained stable at 80 million yuan[12] - Long-term borrowings decreased to 179 million yuan, down from 189 million yuan in the previous period[12] Operating Costs and R&D - Operating costs for the first three quarters of 2024 were 1.61 billion yuan, up from 1.54 billion yuan in the same period last year[14] - R&D expenses for the first three quarters of 2024 were 41.05 million yuan, down from 43.85 million yuan in the same period last year[16] Other Financial Metrics - The company's goodwill increased by 45.31% due to the acquisition of Loudi Dental Hospital[6] - Prepayments increased by 131.64% due to higher advance rental income[6] - Contract liabilities decreased by 44.55% due to a reduction in advance customer payments[6] - Monetary funds as of September 30, 2024, amount to 597,943,865.14 RMB, compared to 594,462,752.21 RMB at the end of 2023[11] - Accounts receivable as of September 30, 2024, amount to 151,639,601.28 RMB, compared to 137,507,334.72 RMB at the end of 2023[11] - Total current assets as of September 30, 2024, amount to 890,284,819.76 RMB, compared to 969,063,956.25 RMB at the end of 2023[11] - Cash received from sales of goods and services was RMB 2.22 billion, compared to RMB 2.16 billion in the previous period[19]

证券简称：通策医疗 证券代码：600763 编号：临 2024-062 通策医疗股份有限公司 关于控股股东部分股票质押及解除质押的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担个别及连带责任。 | 股东名称 | 宝群实业 | | | --- | --- | --- | | 本次解质股份 | 1011.2295 | 万股 | | 占其所持股份比例 | | 6.67% | | 占公司总股本比例 | | 2.26% | | 解质时间 | | 2024.10.25 | | 持股数量 | 15158.9199 | 万股 | | 持股比例 | | 33.89% | | 剩余被质押股份数量 | 9198.8767 | 万股 | | 剩余被质押股份数量占其所持股份比例 | | 60.68% | | 剩余被质押股份数量占公司总股本比例 | | 20.57% | 3.股东累计质押股份情况 二、上市公司控股股东股份质押情况 1.控股股东质押股票未来半年到期的质押股份数量为 3640.7092 万股，占所持股 份比例的 24.02%，占公司总股本的 8. ...

证券简称：通策医疗 证券代码：600763 编号：临 2024-061 一、上市公司股份质押情况 2024 年 10 月 21 日接到控股股东宝群实业股票质押及解除质押交易通知，具体事 项如下。 1 股东 名称 是否为 控股股 东 本次质 押股数 （万股） 是否 为限 售股 是否 补充 质押 质押起始日 质押到期日 质权人 占其所 持股份 比例 占公司 总股本 比例 质押融资资 金用途 宝群 实业 是 295 否 否 2024.10.17 2025.10.17 温州银行股份 有限公司杭州 分行 1.95% 0.66% 体系外医 疗项目资 金需要 1.股份质押基本情况 2.解除质押基本情况 | 股东名称 | 宝群实业 | | | --- | --- | --- | | 本次解质股份 | 249.3059 | 万股 | | 占其所持股份比例 | | 1.64% | | 占公司总股本比例 | | 0.56% | | 解质时间 | | 2024.10.21 | | 持股数量 | 15158.9199 | 万股 | | 持股比例 | | 33.89% | | 剩余被质押股份数量 | 8995.1062 | 万股 | | ...

Investment Rating - The report assigns a "Buy" rating for the company, Tongce Medical [1][3]. Core Views - Tongce Medical is a leading private dental service provider in China, with a robust long-term development outlook as it navigates policy disruptions [1][3]. - The company has established a regional chain of dental services through a model of regional general hospitals and branch clinics, with ongoing expansion efforts [1][3]. - The dental service market in China is experiencing steady growth, driven by increasing healthcare spending and an aging population, which is expected to sustain demand for dental implants [2][3]. Summary by Sections Company Overview - Tongce Medical has a strong presence in the dental service sector, operating 84 dental institutions with 3,037 dental chairs as of mid-2024 [1][9]. - The company has a stable and reasonable shareholding structure, with a management team rich in talent and experience [1][16]. Market Demand - The dental healthcare market is expanding rapidly, with orthodontic cases increasing from 1.63 million in 2015 to 3.74 million in 2023, indicating a growing demand among adults aged 24-34 [2][3]. - The company is well-positioned to leverage its scale and brand influence to gain a competitive advantage in the long term [2][3]. Operational Strategy - The "general hospital + branch" model is maturing, with a focus on deepening operations in Zhejiang province while exploring opportunities for expansion in other provinces [1][3]. - The company has initiated the "Dandelion Plan" to penetrate lower-tier markets, with 41 Dandelion clinics opened by the end of 2023 and plans for further expansion [1][3]. Financial Performance - In the first half of 2024, the company achieved a revenue of 1.411 billion yuan, a year-on-year increase of 3.52%, and a net profit of 310 million yuan, up 1.77% [1][19]. - Revenue projections for 2024-2026 are 2.949 billion, 3.322 billion, and 3.676 billion yuan, with corresponding net profits of 568 million, 665 million, and 762 million yuan, reflecting a positive growth trajectory [3][4]. Cost Management - The company has made progress in cost control, with a reduction in the proportion of medical material costs and an emphasis on optimizing supply chain management [1][26]. - The overall gross margin has shown signs of recovery, with a gross margin of 40.83% in the first half of 2024, up from 38.53% in 2023 [1][30].

杭州海胤科创有限公司 审计 报 告 众环审字(2024)0300822号 目 录 起始页码 审计报告 | 财务报表 | | | --- | --- | | 资产负债表 | | | 利润表 | 3 | | 现金流量表 | 4 | | 所有者权益变动表 | 5 | | 财务报表附注 | 7 | 审计报告 众环审字(2024)0300822 号 杭州海胤科创有限公司全体股东: 一、审计意见 我们审计了杭州海胤科创有限公司(以下简称"海胤科创公司")财务报表,包括 2023 年 12月31日、2024年6月30日的资产负债表,2023年度、2024年1-6月的利润表、现 金流量表、所有者权益变动表以及相关财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反映了 海胤科创公司 2023年 12月31日、2024年6月30日的财务状况以及 2023年度、2024年 1-6 月的经营成果和现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计师对 财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照中国注册会计师职 业道德 ...

证券代码：600763 证券简称：通策医疗 编号：临 2024-060 通策医疗股份有限公司 关于购买股权暨关联交易的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 一、关联交易概述 1. 关联交易的主要内容 通策医疗全资子公司通策健康收购标的公司 80%股权，全资子公司杭州口腔 医院集团有限公司收购标的公司 20%股权，交易总金额为 5541.36 万元，即按注 1/5 通策医疗股份有限公司（以下简称"通策医疗"或"公司"）全资子公 司浙江通策健康管理服务有限公司（以下简称"通策健康"）收购杭州 海胤科创有限公司（以下简称"标的公司"）80%股权，全资子公司杭州 口腔医院集团有限公司收购标的公司 20%股权，交易总金额为 5541.36 万元，即按注册资本金 1000 万元收购目标公司 100%股权以及收购债权 应支付的对价 4541.36 万元。 标的公司为杭州海骏科技有限公司全资子公司，杭州海骏科技有限公司 为公司实际控制人控制的公司，本次交易构成关联交易。 本次交易未导致公司主营业务、资产、 ...

| 股东名称 | 宝群实业 | | | --- | --- | --- | | 本次解质股份 | 420.1784 万股 | | | 占其所持股份比例 | 2.77% | | | 占公司总股本比例 | 0.94% | | | 解质时间 | 2024.9.20 | | | 持股数量 | 15,158.9199 万股 | | | 持股比例 | | 33.89% | 1.解除质押基本情况 1 证券简称：通策医疗 证券代码：600763 编号：临 2024-059 通策医疗股份有限公司 关于控股股东部分股票解除质押的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示: 杭州宝群实业集团有限公司（以下简称"宝群实业"）持有通策医疗股份有限 公司（以下简称"公司"）股份总数 151,589,199 股（以下数据均为公司分红派息后 的股数），占总股本的 33.89%；本次解除质押股份数为 4,201,784 股，占宝群实业所 持有本公司股份数 2.77%，占本公司总股份数的 0.94%。宝群实业质押股份总数为 89,4 ...

业绩平稳增长，种植牙增速亮眼 通策医疗(600763)/医疗服务 证券研究报告/公司点评 2024 年 09 月 17 日 [Table_Industry] | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|----------------------|---------------------------------------------------------------------------------------------------- ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - In the first half of 2024, the company achieved operating revenue of 1.411 billion yuan (+3.52% year-on-year) and a net profit attributable to shareholders of 310 million yuan (+1.77%), with a non-recurring net profit of 306 million yuan (+4.33%) [3] - The implant business showed accelerated growth, with revenue from the implant, repair, and comprehensive services increasing by 11.3%, 2.8%, and 4.2% year-on-year respectively in H1 2024 [3] - The company’s gross margin and net margin slightly decreased, with the overall gross margin at 40.83% (-0.53 percentage points) and net margin at 26.06% (-0.26 percentage points) [3] Financial Forecast and Valuation - The forecast for net profit attributable to shareholders for 2024-2026 has been adjusted to 5.8 billion, 7.0 billion, and 8.4 billion yuan respectively, corresponding to P/E ratios of 32, 26, and 22 times [4] - The company is expected to maintain an accelerated growth trend in the implant business after fully digesting the impact of price declines [4] Revenue and Profitability - The total revenue for 2024 is projected to be 3.145 billion yuan, with a year-on-year growth rate of 10.48% [2] - The net profit attributable to shareholders for 2024 is estimated at 576 million yuan, reflecting a year-on-year growth of 15.11% [2] Market Data - The closing price of the company's stock is 40.85 yuan, with a market capitalization of approximately 18.27 billion yuan [5]

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 股 票 研 究 证 券 研 究 报 告 -43% -34% -25% -16% -7% 3% 2023-08 2023-12 2024-04 本报告导读： [Table_Market] 交易数据 受外部环境影响，公司经营增速有所放缓，种植业以价换量，消费口腔短期承压， 蒲公英分院发展顺利，维持增持评级。 投资要点： [Table_PicQuote] 52周股价走势图 [Table_Report] 相关报告 种植牙以价换量，蒲公英分院贡献提升 通策医疗(600763) [Table_Industry] 医药/必需消费 | --- | --- | --- | |-----------------------------|-----------|-------| | [Table_Invest] 评级： | | 增持 | | | 上次评级: | 增持 | | [Table_Target] 目标价格： | | 48.80 | | | 上次预测: | 52.56 | | [当前价格： Tabl ...