Core Viewpoint - International Medical emphasizes its commitment to balancing long-term development with shareholder returns, aiming to provide stable and sustainable dividends while leveraging capital market financing to strengthen its core business and enhance competitiveness [2] Summary by Relevant Sections - **Shareholder Returns** - The company is dedicated to offering stable and sustainable dividends to shareholders when conditions permit [2] - **Capital Market Utilization** - The company plans to utilize refinancing through capital markets to solidify its main business and improve core competitiveness [2] - **Profit Distribution and Financing** - Historical profit distribution and financing details are publicly available and should be referenced from relevant disclosures [2]

Core Viewpoint - The company emphasizes its commitment to investor returns, highlighting a strong operational performance since its listing, with a total of 16 cash dividends distributed [1] Group 1: Company Performance - Since 2019, the company has fully transformed to focus on its core medical services business, aligning closely with its development strategy [1] - The company has effectively managed its operations to promote high-quality development and continuously enhance its value [1] Group 2: Market Factors - The stock price is influenced by a combination of macroeconomic conditions, industry cycles, and market sentiment [1] - The company encourages a rational and comprehensive understanding of the capital market for prudent investment decisions [1]

Core Insights - The high-pressure oxygen chamber concept has seen a decline of 0.21%, ranking among the top declines in concept sectors as of the market close on November 13 [1] - Within the sector, companies like Innovation Medical and International Medicine experienced significant declines, while six stocks saw price increases, with Dahu Co., Aoyang Health, and Samsung Medical leading the gains [1] Market Performance - The top-performing concept sectors today include: - Fluorochemical concept: +4.50% - Organic silicon concept: +4.47% - Sodium-ion battery: +4.47% - Lead metal: +4.27% - Phosphorus chemical: +4.25% [2] - The high-pressure oxygen chamber sector experienced a net outflow of 149 million yuan, with eight stocks seeing net outflows [2] Fund Flow Analysis - The stocks with the highest net outflows in the high-pressure oxygen chamber sector include: - Samsung Medical: -60.80 million yuan - Innovation Medical: -57.39 million yuan - International Medicine: -12.53 million yuan [2] - Conversely, the stocks with the highest net inflows include: - Yingkang Life: +10.12 million yuan - Hangyang Co.: +9.74 million yuan [2] Stock Performance - Key stock performances in the high-pressure oxygen chamber sector: - Samsung Medical: +0.37%, turnover rate: 2.18% - Innovation Medical: -2.00%, turnover rate: 13.41% - International Medicine: -0.80%, turnover rate: 1.13% [2]

Core Viewpoint - International Medical (000516) has shown a slight increase in stock price, but the financial performance indicates significant challenges, with declining revenues and profits [1][3]. Financial Performance - As of November 12, 2025, the stock closed at 5.01 CNY, up 1.83% with a trading volume of 464,800 shares and a total transaction value of 231 million CNY [1]. - For the first three quarters of 2025, the company reported a main business revenue of 2.995 billion CNY, a year-on-year decrease of 16.94%, and a net profit attributable to shareholders of -294 million CNY, down 38.45% [3]. - The third quarter alone saw a revenue of 961 million CNY, a decline of 18.95%, and a net profit of -129 million CNY, a staggering drop of 234.24% [3]. Market Position and Ratios - The total market capitalization of International Medical is 11.217 billion CNY, ranking 12th in the medical services industry, which has an average market cap of 19.516 billion CNY [3]. - Key financial ratios include a price-to-earnings ratio of -28.65 and a price-to-book ratio of 3.36, with a gross margin of 6.59%, significantly lower than the industry average of 35.56% [3]. Investment Ratings - In the last 90 days, two institutions have provided ratings for the stock, with one buy rating and one hold rating [4].

Core Viewpoint - International Medical (000516) is progressing with the construction of its proton therapy center, which will utilize the latest Varian ProBeam 360-degree proton therapy system, recognized as one of the most advanced systems globally [1] Group 1: Project Details - The proton therapy center will employ the integrated intensity-modulated proton therapy (IMPT) technology [1] - The system features a superconducting cyclotron, a 360-degree rotating gantry, and high-speed pencil beam scanning technology, positioning it as a leader in the industry [1] - Construction is ongoing as planned, with operations expected to commence upon obtaining the necessary administrative approvals [1]

Core Insights - The company is enhancing operational efficiency while optimizing the quality of medical services through clinical pathway management, reducing drug consumption ratio, and optimizing cost structure [1] Financial Performance - As of Q3 2025, the company's management expense ratio is 10.99%, a year-on-year decrease of 0.54 percentage points and a quarter-on-quarter decrease of 2.13 percentage points [1] - The financial expense ratio stands at 3.43%, with a year-on-year decrease of 0.07 percentage points and a quarter-on-quarter decrease of 0.25 percentage points, indicating initial success in cost control [1]

Core Viewpoint - The company provided insights into the operational budget of its proton therapy center, highlighting the complexity and high costs associated with such medical facilities [1] Group 1: Operational Budget Components - The operational costs of the proton therapy system include fixed asset depreciation and amortization, equipment maintenance and operational costs, daily operational expenses, and labor costs [1] - The proton therapy project is characterized by high technical barriers, large investment scale, and long return periods [1] Group 2: Break-even Point and Demand - The break-even point for the proton therapy center is influenced by various dynamic factors [1] - The Xi'an International Medical Center's proton therapy center is the first of its kind in Northwest China and will officially commence operations after obtaining the necessary administrative approvals [1]

Group 1 - The stock price of International Medical (000516) closed at 4.77 yuan, down 0.63% from last week's 4.8 yuan, with a market cap of 10.68 billion yuan [1] - The stock reached a one-year low of 4.73 yuan on November 6, with a highest price of 4.84 yuan on November 3 [1] - The company ranks 16th out of 50 in the medical services sector by market capitalization and 1790th out of 5166 in the A-share market [1] Group 2 - The controlling shareholder, Shaanxi Century New Yuan Commercial Management Co., Ltd., released 34,064,211 shares from pledge, accounting for 1.52% of the total share capital [2][3] - After the release, the total pledged shares by Century New Yuan amount to 448,950,000, which is 72.87% of its holdings and 20.05% of the total share capital [2] - Century New Yuan and its concerted parties hold a total of 718,645,251 shares, representing 32.10% of the total share capital, with pledged shares accounting for 65.99% of their holdings [2][3]

Group 1 - The company is enhancing its specialized departments such as neurology, cardiovascular, digestive, thoracic, oncology, hematology, and orthopedics in response to ongoing healthcare policy adjustments, particularly the deepening of medical insurance payment reforms [2] - The company is exploring and laying out strategies in aesthetic medicine, rehabilitation, pediatrics, health management, traditional Chinese medicine, assisted reproduction, mental health, special services, elderly care, and proton therapy to build competitive advantages through differentiation [2] - The company is committed to standardized operations, implementing measures like clinical pathway management and promoting day surgery to strengthen cost control and efficiency, leading to continuous optimization of operational efficiency and improvement in business performance [2]

Core Viewpoint - International Medical announced the release of a portion of its shares that were previously pledged for financing by its controlling shareholder, Century New Yuan [2] Group 1 - Century New Yuan has completed the release of a pledge on 34,064,211 shares of International Medical [2]