Investment Rating - The investment rating for the company is "Buy" [6] Core Views - The company has shown a continuous narrowing of losses, with revenue for 2024 reaching 4.815 billion yuan, a year-on-year increase of 4.28%. The net loss attributable to the parent company was 254.13 million yuan, a reduction of 31.0% year-on-year [2][6] - The company is actively expanding its non-medical insurance business while maintaining a stable operational performance and optimizing its revenue structure [6] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 4.815 billion yuan, with a year-on-year growth of 4.28%. The net loss attributable to the parent company was 254.13 million yuan, which is a 31.0% reduction compared to the previous year [2][3] - For Q1 2025, the company reported a revenue of 999.7 million yuan, a decrease of 15.0% year-on-year, primarily due to DRG cost control and last year's high base effect. The net loss attributable to the parent company was 106 million yuan, a decrease of 1.4% year-on-year [2] Operational Highlights - The company’s high-tech hospital generated a revenue of 1.525 billion yuan in 2024, with a net profit of 85 million yuan, reflecting a year-on-year increase of 2.7% and 21.6% respectively. The hospital is operating at full capacity, with key medical quality indicators steadily improving [6] - The central hospital achieved a revenue of 3.274 billion yuan in 2024, a year-on-year increase of 7.6%, while the net loss was reduced by 36.7% to 165 million yuan. The hospital's outpatient and emergency service volume reached 1.4182 million visits, a year-on-year increase of 18.9% [6] Future Outlook - The company is expected to continue its development of a comprehensive medical innovation business model that combines serious medical care with consumer medical services. The revenue structure is anticipated to improve as the volume of medical services increases [6] - The profit forecasts for 2025 and 2026 have been adjusted to reflect the impact of medical insurance cost control policies, with projected net losses of 137 million yuan and 80 million yuan respectively, before turning profitable in 2027 with a net profit of 133 million yuan [6][7]

Group 1: Overall Business Performance - In 2024, the company achieved a total outpatient and emergency service volume of 2.5727 million visits, a year-on-year increase of 7.70% [2] - The inpatient service volume reached 205,700 visits, growing by 10.73% compared to the previous year [2] - The total revenue for 2024 was CNY 4.815 billion, reflecting a year-on-year growth of 4.28% [2] - The net profit attributable to the parent company was -CNY 254 million, a reduction in loss by 31.01% [2] - The operating cash flow was CNY 1.009 billion, remaining stable compared to the previous year [2] Group 2: Q1 2025 Performance - In Q1 2025, the company reported revenue of CNY 999 million, a decline of 14.99% year-on-year [2] - The net profit attributable to the parent company was -CNY 106 million, a decrease of 1.37% compared to the same period last year [2] - Operating cash flow for the quarter was CNY 244 million, an increase of 11.20% year-on-year [2] Group 3: Hospital Operations - In 2024, Xi'an Gaoxin Hospital generated revenue of CNY 1.525 billion, a growth of 2.68% [3] - Xi'an International Medical Center Hospital achieved revenue of CNY 3.274 billion, with a year-on-year increase of 7.60% [3] - In Q1 2025, Gaoxin Hospital's outpatient service volume was 281,400 visits, up by 1.91% [3] - The inpatient service volume for Gaoxin Hospital in Q1 2025 was 14,600 visits, down by 8.22% [3] Group 4: Project Developments - The Proton Therapy Center project is progressing, with the core component, the cyclotron, installed by June 18, 2024, and expected to be operational by the end of 2025 [3] - The company is focusing on the application of artificial intelligence in healthcare, ensuring data privacy and security while integrating with core business systems [3] Group 5: Strategic Outlook - For 2025, the company aims to enhance its patient-centered approach and improve service quality through institutional innovation and management reform [4] - The focus will be on strengthening core competencies in specialized fields and enhancing operational efficiency [4] - The company plans to adapt to ongoing healthcare policy reforms by optimizing its business structure and improving service quality [4]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's core business is operating steadily, focusing on refined management practices [1] - In 2024, the company achieved total revenue of 4.815 billion yuan, a year-on-year increase of 4.28%, while the net profit attributable to shareholders was a loss of 254.13 million yuan, narrowing by 31.01% compared to the previous year [7] - The company is in a growth phase, with expectations for revenue to reach 4.823 billion yuan in 2025 and 5.533 billion yuan in 2026 [1][7] Financial Performance Summary - Total revenue forecast for 2023A is 4.618 billion yuan, with a projected increase to 4.815 billion yuan in 2024A and 4.823 billion yuan in 2025E [1] - The net profit attributable to shareholders is expected to improve from a loss of 368.36 million yuan in 2023A to a loss of 254.13 million yuan in 2024A, and further to a loss of 219.54 million yuan in 2025E [1] - The earnings per share (EPS) is projected to improve from -0.16 yuan in 2023A to -0.11 yuan in 2024A and -0.10 yuan in 2025E [1] Business Operations Summary - The company reported a total of 2.5727 million outpatient and emergency service visits in 2024, a year-on-year increase of 7.70%, and 205,700 inpatient service visits, an increase of 10.73% [7] - The Xi'an High-tech Hospital achieved revenue of 1.525 billion yuan in 2024, with a net profit of 85 million yuan, reflecting a net profit margin of 5.6% [7] - The company is focusing on developing specialized services such as integrated Chinese and Western medicine, high-end health management, and assisted reproductive medicine, aiming to become one of the largest reproductive medicine centers in China [7]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's core business is operating steadily, focusing on refined management practices [1] - In 2024, the company achieved total revenue of 4.815 billion yuan, a year-on-year increase of 4.28%, while the net profit attributable to shareholders was a loss of 254.13 million yuan, narrowing by 31.01% [7] - The company is in a growth phase, with expectations for revenue to reach 4.823 billion yuan in 2025 and 5.533 billion yuan in 2026 [1][7] Financial Performance Summary - Total revenue projections for 2024, 2025, 2026, and 2027 are 4.815 billion yuan, 4.823 billion yuan, 5.533 billion yuan, and 6.147 billion yuan respectively [1] - The net profit attributable to shareholders is projected to improve from a loss of 254.13 million yuan in 2024 to a profit of 49.41 million yuan in 2027 [1] - The earnings per share (EPS) is expected to improve from -0.11 yuan in 2024 to 0.02 yuan in 2027 [1] Business Operations Summary - The company reported a total of 2.5727 million outpatient and emergency service visits in 2024, a year-on-year increase of 7.70%, and 205,700 inpatient service visits, an increase of 10.73% [7] - The Xi'an High-tech Hospital achieved revenue of 1.525 billion yuan in 2024, with a net profit of 85 million yuan, reflecting a net profit margin of 5.6% [7] - The company is focusing on developing specialized services such as integrated Chinese and Western medicine, high-end health management, and smart traditional Chinese medicine [7] Valuation and Future Outlook - The company's revenue forecasts for 2025 and 2026 have been adjusted down to 4.823 billion yuan and 5.533 billion yuan respectively, with a projected market value corresponding to price-to-sales (PS) ratios of 2.4 and 2.1 times [7] - The company is expected to gradually improve its valuation as its core hospital bed capacity increases [7]

在医疗领域，国际医学探索并发展了"综合医疗+特色专科"创新业务模式，旨在满足广大群众多元化医 疗健康需求，充分发掘综合性医疗机构的协同效应。一方面致力于提供高质量普惠型医疗服务，成功打 造了脑科、心血管、消化、胸科、肿瘤、血液病、骨科等多个优势专科，开展了一系列技术含量高、难 度大的复杂型医疗项目，包括多项世界首例、国内首例、西北首例复杂手术；另一方面，公司在医美整 形、康复、妇儿、健康管理、中医、辅助生殖、精神心理、特需服务、质子治疗等板块也进行了积极的 探索和布局，打造特色专科，契合人民群众日益增长的多样化健康需求，以三甲医院规范化的医疗品质 为基石，不断拓展高附加值医疗健康市场。 此外，国际医学还深化拓展医联体合作网络，推动优质医疗资源下沉，打造"互联网医疗"模式，探 索"医疗+AI"技术的临床融合与应用，积极探索多元化创新护理服务模式，包括家庭访视、延续护理、 互联网护理等，满足不同患者的个性化健康需求。在此基础上，持续完善VIP特需、会员等服务机制， 提升患者就医体验。 未来，国际医学将通过与华为技术有限公司、深圳迈瑞生物医疗电子股份有限公司、深圳华大基因股份 有限公司等行业领军企业的合作，推动数字 ...

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of International Medical Investment Co., Ltd, indicating a decline in revenue and net profit in the latest quarterly report [1] - As of March 31, 2025, the number of shareholders increased to 109,907, with an average holding value of 352,800 yuan and an average shareholding of 27,600 shares [1] - The company operates in the health care service sector and modern medical technology application, with various product lines including medical services, software and information technology services, and other social services [1] Group 2 - The latest financial results show a revenue of 999.7 million yuan for Q1 2025, representing a year-on-year decrease of 14.99%, and a net loss of approximately 106.35 million yuan, a decline of 1.37% year-on-year, with a gross profit margin of 5.21% [1] - The company's current price-to-earnings (P/E) ratio is -44.75, with a price-to-book (P/B) ratio of 3.21 and a total market capitalization of 11.438 billion yuan [2] - The industry average P/E ratio is 46.43, while the industry median P/E is 51.51, indicating that International Medical's valuation metrics are below industry averages [2]

具体看，2024年，西安高新医院门急诊服务量达115.45万人次，同比增长0.30%；住院服务量6.60万人 次，同比增长1.8%；最高日门急诊服务量4185人次，最高日在院患者1713人。关键医疗质量指标稳步 提升。 中心医院北院区新开11个特色科室，形成"一院多区"联动效应，推动营收结构持续优化。2024年，中心 医院（含北院区）门急诊服务量达141.82万人次，同比增长18.88%；住院服务量13.97万人次，同比增 长15.32%；体检服务量7.98万人次，同比增长20.95%；最高日门急诊服务量5193人次，最高日在院患者 4046人，外地患者占比约40%，核心医疗指标稳步增长，业务规模再创新高。 4月22日晚间，国际医学（000516）（股票代码：000516.SZ）公告2024年度报告。在复杂的外部环境中 展现出较强的经营韧性，公司交出了一份营收稳步增长、亏损大幅收窄的年度答卷。年报数据显示，公 司全年实现营业收入48.15亿元，同比增长4.28%；归属于上市公司股东的净利润为-2.54亿元，同比减亏 31.01%，优于此前市场预期。这一成绩既源于运营效率的持续优化，也得益于坚持"综合医疗+特色 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000516 证券简称：国际医学 公告编号：2025-010 西安国际医学投资股份有限公司2024年年度报告摘要 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者 应当到证监会指定媒体仔细阅读年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 □适用 √不适用 公司计划不派发现金红利，不送红股，不以公积金转增股本。 董事会决议通过的本报告期优先股利润分配预案 1、公司简介 ■ 2、报告期主要业务或产品简介 （一）主要业务 公司以大健康医疗服务和现代医学技术转化应用为主业。目前，正在运营西安高新医院、西安国际医学 中心医院等综合性医疗机构。在医疗领域，公司探索并发展了"综合医疗+特色专科"创新业务模式，旨 在满足广大群众多元化医疗健康需求，充分发掘综合性医疗机构的协同效应。一方面致力于提供高质量 普惠型医疗服务，成功打造了脑科、心血管、消化、胸科、肿瘤、血液病、骨科等多个优势专科，开展 了一系列技术含 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 □适用 √不适用 前10名股东及前10名无限售流通股股东因转融通出借/归还原因导致较上期发生变化 □适用 √不适用 （2） 公司优先股股东总数及前10名优先股股东持股情况表 □适用 √不适用 公司报告期无优先股股东持股情况。 （3） 以方框图形式披露公司与实际控制人之间的产权及控制关系 ■ 5、在年度报告批准报出日存续的债券情况 □适用 √不适用 三、重要事项 2024年4月19日，经公司执行委员会审议通过，本公司与陕西众和防务投资控股有限责任公司共同出资 2,000万元设立西安国际医学科技医疗有限公司，本公司认缴出资980万元，占该公司股权比例为49%， 陕西众和防务投资控股有限责任公司认缴出资1,020万元，占公司股权比例为51%，该公司于2024年6月 4日完成工商注册。 2024年9月10日，经公司执行委员会审议通过，同意注销公司控股子公司西安国柏健康管理有限公司。 西安国际医学投资股份有限公司董事会 董事长 史 今 二〇二五年四月二十三日 证券代码：000516 证券简称：国际医学 公告编号：2025-008 西安国际医学投资股份有限公司 第十三届董 ...

证券代码：000516 证券简称：国际医学 公告编号：2025-016 西安国际医学投资股份有限公司 关于使用自有闲置资金进行委托理财额度的公告 本公司及董事会全体成员保证公告内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 2025年4月21日，西安国际医学投资股份有限公司（以下简称"公 司"）召开第十三届董事会第五次会议审议通过了《关于使用自有闲 置资金进行委托理财额度的议案》。为进一步提升公司现有资金的使 用效率、提高资金收益，公司及所属子公司拟以闲置自有资金按照安 全、稳健的原则适时进行委托理财（含银行理财产品、信托产品等）。 投资额度5亿元，自公司董事会审议通过后12个月内滚动使用。根据《深 圳证券交易所股票上市规则》及《公司章程》有关规定，本次委托理 财事项无需提交股东大会审议。具体情况公告如下： 一、委托理财概述 1、委托理财的目的 为进一步提高经营资金的使用效率、合理利用闲置资金、提高资 金收益，在不影响公司及子公司正常经营的情况下，公司及所属子公 司拟以闲置自有资金按照安全、稳健的原则适时进行委托理财（含银 行理财产品、信托产品等）。 2、委托理财的额度 根据公司经营发展计划和 ...