证券代码：002044 证券简称：美年健康 公告编号：2024-098 美年大健康产业控股股份有限公司 关于召开 2024 年第五次临时股东大会的提示性公告 1、股东大会届次：公司 2024 年第五次临时股东大会。 2、股东大会召集人：公司第九届董事会第一次（临时）会议决议召开，由 公司董事会召集。 3、会议召开的合法、合规性：本次股东大会的召集、召开及审议事项符合 《中华人民共和国公司法》、《中华人民共和国证券法》、《深圳证券交易所股 票上市规则》等法律、行政法规及《公司章程》等规定，提案内容明确并在法定 期限内公告。 4、会议召开的日期、时间： （1）现场会议召开时间：2024 年 11 月 8 日（星期五）下午 14:50。 1 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 美年大健康产业控股股份有限公司（以下简称"公司"）2024 年第五次临时股 东大会现场会议的召开地点为上海市静安区灵石路 697 号健康智谷 9 号楼三楼 公司会议室，敬请投资者特别留意。 根据公司于 2024 年 10 月 15 日召开的第九届董事会第一次（临时）会议 ...

Investment Rating - Buy rating maintained for the stock [2] Core Views - The company's Q3 2024 revenue reached RMB 2.935 billion (+3.63% YoY), with net profit attributable to shareholders of RMB 240 million (+10.33% YoY), slightly exceeding expectations [3] - Revenue growth is expected to improve in Q4 due to the peak season for health check-up services, with stable order volume and increasing average customer spending [3] - Gross margin improved to 45.43% in Q3 2024 (+1.12 pct YoY), with net profit margin rising to 8.19% (+0.5 pct YoY) [3] - Operating cash flow improved to RMB 289 million in Q3 2024 (+4.05% YoY), with cash and cash equivalents balance reaching RMB 1.46 billion (+3.14% YoY) [3] - AI products, including the "Health Xiaomei" AI health management robot and AI smart glucose management system, have been launched and are being piloted in 26 branches [4] Financial Projections - Revenue is projected to grow to RMB 11.008 billion in 2024, RMB 11.837 billion in 2025, and RMB 12.687 billion in 2026 [5] - Net profit attributable to shareholders is expected to reach RMB 333 million in 2024, RMB 629 million in 2025, and RMB 895 million in 2026 [5] - EPS is forecasted at RMB 0.09 in 2024, RMB 0.16 in 2025, and RMB 0.23 in 2026 [5] - P/E ratios are projected at 55.12x for 2024, 29.2x for 2025, and 20.52x for 2026 [5] Financial Ratios and Performance - Gross margin is expected to improve from 42.5% in 2024 to 45.3% in 2026 [8] - Net profit margin is projected to increase from 3.0% in 2024 to 7.1% in 2026 [8] - ROE is forecasted to rise from 4.1% in 2024 to 9.4% in 2026 [8] - Asset-liability ratio is expected to decline from 56.4% in 2024 to 52.9% in 2026 [8] AI and Innovation - The company has partnered with Huawei to launch the "Health Xiaomei" AI health management robot, which is currently being piloted in 26 branches [4] - AI-driven products, such as the AI smart glucose management system and AI sales assistant "Meinian Xiaoxing," are expected to enhance operational efficiency and customer engagement [4]

隐证券 医药生物/医疗服务 公 司 研 究 美年健康（002044.SZ） 2024 年 11 月 03 日 2024Q3 业绩稳健增长，客单价稳定提升 ——公司信息更新报告 投资评级：买入（维持） | --- | --- | |-------------------------|-----------| | 日期 | 2024/11/1 | | 当前股价 ( 元 ) | 4.69 | | 一年最高最低 ( 元 ) | 6.60/3.22 | | 总市值 ( 亿元 ) | 183.58 | | 流通市值 ( 亿元 ) | 181.62 | | 总股本 ( 亿股 ) | 39.14 | | 流通股本 ( 亿股 ) | 38.72 | | 近 3 个月换手率 (%) | 67.84 | 股价走势图 -60% -40% -20% 0% 20% 40% 2023-11 2024-03 2024-07 美年健康 沪深300 数据来源：聚源 相关研究报告 《2024Q2 公司收入正增长，客单价及 个检收入占比持续提升—公司信息更 新报告》-2024.8.31 《2023 年业绩快速恢复，体检业务量 价齐升 — 公 司 信 ...

Investment Rating - Maintain "Recommend" rating for Meinian Health [2] Core Views - Meinian Health achieved double-digit growth in both revenue and net profit in Q3 2024, with revenue increasing by 3.6% YoY and net profit attributable to shareholders rising by 10.3% YoY [1] - The company's performance is gradually being released, driven by the peak season for the physical examination industry in the second half of the year and stable order volumes in the first half [1] - Public health awareness and aging population are driving sustained growth in proactive health management consumption, prompting the company to shift from single physical examination services to promoting sustainable health consumption [1] - The company is increasing strategic investment in group examination for major clients, optimizing customer structure, and expanding high-quality customers through customized and enterprise-level health management services [2] - Meinian Health is advancing digital marketing and deepening AI strategy, focusing on AI-powered services such as "AI Smart Blood Sugar Management" and "Health Xiaomei" to enhance customer value and brand potential [2] Financial Performance - For the first nine months of 2024, Meinian Health reported revenue of 7.141 billion yuan (-1.96% YoY), net profit attributable to shareholders of 25 million yuan (-88.96% YoY), and operating cash flow of -303 million yuan [1] - In Q3 2024, the company achieved revenue of 2.935 billion yuan (+3.63% YoY), net profit attributable to shareholders of 240 million yuan (+10.33% YoY), and operating cash flow of 289 million yuan [1] - The company's revenue and net profit are expected to grow steadily, with projected revenue of 11.057 billion yuan, 12.302 billion yuan, and 13.619 billion yuan for 2024, 2025, and 2026, respectively, and net profit of 427 million yuan, 769 million yuan, and 1.012 billion yuan for the same periods [2] Strategic Initiatives - Meinian Health is strengthening its presence in individual examination business through refined operations on platforms like Tmall, JD.com, and Pinduoduo, and enhancing customer retention and conversion through personalized health solutions [2] - The company is building a closed-loop ecosystem through its digital platform, integrating public domain traffic for group examinations and private domain retention for chronic disease management [2] - AI technology is being leveraged to improve medical services, with a focus on projects like "AI Smart Blood Sugar Management" and "Traditional Chinese Medicine Smart Physical Examination" [2] Market Data - As of October 30, 2024, Meinian Health's A-share closing price was 4.32 yuan, with a total market capitalization of 16.7 billion yuan and a circulating market capitalization of 16.7 billion yuan [2] - The company's total share capital is 3.914 billion shares, with 3.872 billion shares in actual circulation [2]

Investment Rating - The report maintains a "Buy" rating for the company, with expected net profits for 2024-2026 projected at 3.52 billion, 6.94 billion, and 10.14 billion RMB respectively, indicating growth rates of 30%, 97%, and 46% [3]. Core Insights - The company reported a revenue of 71.41 billion RMB for the first three quarters of 2023, a slight decrease of 1.96% year-on-year, while the net profit attributable to shareholders was 0.25 billion RMB, down 88.96% year-on-year. In Q3 2024, revenue increased to 29.35 billion RMB, up 3.63% year-on-year, with a net profit of 2.40 billion RMB, up 10.33% year-on-year [2]. - The company continues to expand its branch network, with a total of 608 branches as of September 30, 2024, maintaining the leading position in the industry in terms of coverage and annual health check-up numbers [2]. - Profitability has improved, with a gross margin of 45.43% and a net margin of 9.87% in Q3 2024, attributed to rising public health awareness and a shift towards personalized health services [2]. - The company is focusing on digitalization and innovation, launching new health check-up projects and AI products to enhance consumer satisfaction and maintain a competitive edge [2]. Summary by Sections Revenue and Profitability - For 2023, the company achieved a revenue of 10.89 billion RMB, with a growth rate of 27.67%. The projected revenue for 2024 is 11.39 billion RMB, reflecting a growth rate of 4.55% [5]. - The net profit for 2023 was 506 million RMB, with a significant recovery expected in 2024, projected at 352 million RMB, indicating a decrease of 30.39% year-on-year [5]. Financial Metrics - The diluted earnings per share (EPS) for 2024 is expected to be 0.09 RMB, with projections of 0.18 RMB and 0.26 RMB for 2025 and 2026 respectively [3]. - The price-to-earnings (P/E) ratio is projected to be 48, 24, and 17 for the years 2024, 2025, and 2026 respectively, indicating a favorable valuation trend [3]. Market Position and Strategy - The company is implementing a strategy centered on digital innovation and specialized health services, with ongoing trials of the "Health Xiaomei" program in several cities [2]. - The expansion of branches and the introduction of AI-driven products are key components of the company's strategy to enhance its market position and meet evolving consumer needs [2].

美年大健康产业控股股份有限公司（以下简称"公司"）第九届董事会第二次 （临时）会议于 2024 年 10 月 24 日以电子发送等形式发出会议通知，会议于 2024 年 10 月 30 日上午 10 时以通讯方式召开。应出席本次会议的董事为 9 名，实际出 席会议的董事为 9 名（其中，委托出席董事 1 名，董事朱超因工作原因未能亲自 出席，委托董事杨策代行表决权）。会议由公司董事长俞熔先生主持，公司监事及 部分高级管理人员列席了会议。本次会议的出席人数、召开表决程序、议事内容均 符合《公司法》、《公司章程》等有关规定。 二、董事会会议审议情况 1、审议并通过《公司 2024 年第三季度报告》 表决结果：赞成 9 票，反对 0 票，弃权 0 票。 证券代码：002044 证券简称：美年健康 公告编号：2024-094 美年大健康产业控股股份有限公司 第九届董事会第二次（临时）会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 三、备查文件 特此公告。 美年大健康产业控股股份有限公司 董 事 会 二〇二四年十月三十一日 1、公司 ...

证券代码：002044 证券简称：美年健康 公告编号：2024-097 美年大健康产业控股股份有限公司 关于 2024 年前三季度计提资产减值准备的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 根据《企业会计准则》和美年大健康产业控股股份有限公司（以下简称"公 司"）会计政策的相关规定，公司基于谨慎性原则，对截至 2024 年 9 月 30 日的 各项资产进行判断以及减值测试，对可能发生资产减值损失的资产计提减值准备。 2024 年前三季度，公司计提各项资产减值准备合计 10,238.17 万元。现将具体内 容公告如下： 一、本次计提资产减值准备情况概述 1、2024 年前三季度计提坏账准备情况 公司 2024 年前三季度计提坏账准备合计为 10,181.68 万元。 注：以上数据如存在合计尾差，属于四舍五入所致。 2、2024 年前三季度计提其他流动资产减值准备情况 公司在资产负债表日对长期股权投资、固定资产、在建工程、无形资产等按 照《企业会计准则第 8 号——资产减值》的规定，对各项资产进行判断以及减值 测试，估计其可收回金额。可收回金额以资产的 ...

证券代码：002044 证券简称：美年健康 公告编号：2024-095 美年大健康产业控股股份有限公司 第八届监事会第二十五次（临时）会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 经审核，监事会认为董事会编制和审核的《公司 2024 年第三季度报告》的 程序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反 映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 《公司 2024 年第三季度报告》详见公司指定信息披露媒体《中国证券报》、 《上海证券报》、《证券时报》、《证券日报》及巨潮资讯网（www.cninfo.com.cn）。 三、备查文件 1、公司第八届监事会第二十五次（临时）会议决议。 特此公告。 美年大健康产业控股股份有限公司 监 事 会 美年大健康产业控股股份有限公司（以下简称"公司"）第八届监事会第二十 五次（临时）会议于 2024 年 10 月 24 日以电子发送等形式发出会议通知，会议 于 2024 年 10 月 30 日上午 11 时以通讯方式召开。应出席本次会议的监事 3 ...

Financial Performance - Revenue for Q3 2024 was CNY 2,935,353,690.89, representing a 3.63% increase compared to CNY 2,832,447,921.67 in the same period last year[2]. - Net profit attributable to shareholders was CNY 240,409,725.47, a 10.33% increase from CNY 217,901,045.89 year-on-year[2]. - Basic earnings per share remained at CNY 0.06, unchanged from the previous year, while diluted earnings per share also stayed at CNY 0.06[3]. - The company reported a significant decrease in net profit attributable to shareholders, down 88.96% to CNY 24,632.53 million compared to the previous year, primarily due to a decline in total profit[11]. - The company experienced a 43.25% decrease in other income, totaling CNY 4,326.10 million, mainly due to reduced government subsidies compared to the previous year[11]. - The company reported a significant decrease in income tax expenses, down 80.06% to CNY 8,364.21 million, due to a decline in total profit[11]. - The total comprehensive income attributable to the parent company was 24,562,441.45 CNY in Q3 2024, down from 223,274,462.52 CNY in Q3 2023, a decrease of 89.0%[42]. - The basic earnings per share for Q3 2024 were 0.01 CNY, down from 0.06 CNY in Q3 2023[42]. Cash Flow and Assets - The net cash flow from operating activities was negative CNY 303,249,875.96, a decline of 280.15% compared to CNY 168,330,249.85 in the previous year[3]. - The company reported a significant decrease in cash and cash equivalents, totaling CNY 1,544,134,260.22 compared to CNY 2,771,405,596.08 at the end of last year[7]. - Total assets at the end of Q3 2024 were CNY 19,456,660,182.54, a decrease of 2.27% from CNY 19,015,228,416.16 at the end of the previous year[3]. - The company's equity attributable to shareholders was CNY 7,697,788,310.81, down 0.59% from CNY 7,652,560,374.20 at the end of last year[3]. - The company's cash and cash equivalents decreased from CNY 2,771,405,596.08 to CNY 1,544,134,260.22, a decline of approximately 44.4%[37]. - The cash flow from operating activities showed a net outflow of 303,249,875.96 CNY in Q3 2024, contrasting with a net inflow of 168,330,249.85 CNY in Q3 2023[44]. - The net increase in cash and cash equivalents for Q3 2024 was -1,257,067,307.90 CNY, compared to -540,336,319.78 CNY in the same period last year[45]. Operational Developments - As of September 30, 2024, the company operated a total of 608 branches, maintaining the industry leadership in terms of coverage and annual health check-up volume[13]. - The company has 312 controlling branches, indicating a strong operational presence across more than 30 provinces[13]. - The company established the fourth Medical Quality Management Committee, enhancing operational efficiency through a focus on quality service and digital tools like "precise appointment" and "smart guidance" across its branches[15]. - The company implemented a dual-driven strategy for group and individual health checks, optimizing customer structure and enhancing business efficiency through smart package recommendations and targeted services for major clients[16]. - The company is focusing on enhancing service quality and optimizing customer structure through multi-channel marketing and digital transformation[14]. Research and Development - Development expenditures surged by 196.26% to CNY 43,978,306.03, primarily due to ongoing capitalized R&D projects[7]. - Research and development expenses were 37,492,770.55 CNY in Q3 2024, a slight decrease of 9.5% from 41,614,528.18 CNY in Q3 2023[41]. - The company is advancing its "AI + Healthcare" strategy, integrating AI into all business processes to improve service efficiency and customer satisfaction, transitioning from health checks to comprehensive health management[20]. - The company launched the AI health management robot "Health Xiaomei," which utilizes AI technology to create personalized health management solutions based on comprehensive health data analysis, currently trialed in 26 branches[18]. - The introduction of the "AI Smart Blood Sugar Management Innovation Product" offers personalized management plans based on 230 million data points, enhancing user engagement and health outcomes[19]. Social Responsibility - The company is committed to social responsibility, participating in rural revitalization efforts by providing free health checks and medical services to underserved communities[25]. - The company conducted a free health check event for over 100 impoverished villagers, providing essential supplies and health education[27]. - A donation of 500,000 yuan was made to support free health check packages valued at 1,000 yuan for veterans and their families[27]. - The "Caring for Teachers' Health" initiative included comprehensive health check packages with additional tests like chest CT and arterial sclerosis[29]. - The "100 Cities, 10,000 People Health Run" event attracted nearly 10,000 participants across over 20 cities, promoting health awareness[29]. - The company launched a personalized health check package for rural teachers, including specialized tests such as biochemical and ultrasound assessments[30]. - A total of 27 "Love Without Borders: Assist the Disabled" events were held, benefiting 200 disabled individuals with comprehensive health checks[31]. - The company donated 370,750 yuan to the Shanghai Disabled Persons Welfare Foundation as part of its health initiatives[32]. - A public health check event for employees included over 70 participants, focusing on key health indicators like blood pressure and blood sugar[32]. Governance and Management - The company held a board meeting to elect new directors and appoint senior management, ensuring governance continuity[33]. - The company appointed Yu Rong as the chairman of the ninth board of directors, with several other key management appointments made[34]. - The company acquired partial equity in Yunnan Cimain Health Service Co., Ltd. and thirteen other companies, with the transaction approved in board and shareholder meetings held on October 25 and November 10, 2023[35]. - As of the report date, some of the invested companies have completed industrial and commercial changes, while others are progressing normally[35].

证券代码：002044 证券简称：美年健康 公告编号：2024-087 美年大健康产业控股股份有限公司 2024 年第四次临时股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会无否决或修改提案的情况，无涉及变更前次股东大会决议的 情况。 2、本次股东大会审议的全部议案已对中小投资者（指除上市公司的董事、监 事、高级管理人员以及单独或者合计持有上市公司5%以上股份的股东以外的股东） 的表决单独计票。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开的时间 （1）现场会议召开时间：2024 年 10 月 15 日（星期二）下午 14:30 （2）网络投票时间为：2024 年 10 月 15 日（星期二）9:15-15:00 1、现场会议与网络投票合并情况 1）通过深圳证券交易所交易系统进行网络投票的具体时间为 2024 年 10 月 15 日 9:15-9:25，9:30-11:30 和 13:00-15:00； 2）通过互联网投票系统进行网络投票的具体时间为 2024 年 10 月 15 日 9:15- 15 ...