Core Viewpoint - Aoyang Health has completed the transfer of shares to Yue Sheng Technology, resulting in a change of controlling shareholder and actual controller [1] Group 1: Share Transfer Details - Aoyang Health announced that it received notification from Zhangjiagang Yue Sheng Technology Partnership (Limited Partnership) regarding the completion of the share transfer registration [1] - Following the completion of the share transfer, the controlling shareholder of Aoyang Health has changed from Aoyang Group to Yue Sheng Technology [1] - The actual controller of the company has changed from Shen Xueru to the Management Committee of Zhangjiagang Economic and Technological Development Zone [1]

Core Points - The announcement from Aoyang Health indicates a significant change in its ownership structure, with Aoyang Group transferring 20% of its shares to Yuesheng Technology [1] - The share transfer involves 153,146,472 shares at a price of 3.87 yuan per share, totaling approximately 592.68 million yuan [1] - Following the transfer, Yuesheng Technology will hold 20% of the company's total shares, and the controlling shareholder will shift from Aoyang Group to Yuesheng Technology, with the actual controller changing to the Zhangjiagang Economic and Technological Development Zone Management Committee [1] Summary by Sections - **Ownership Change** - Aoyang Group is transferring 20% of its shares to Yuesheng Technology, resulting in a new controlling shareholder [1] - The actual controller will change from Shen Xueru to the Zhangjiagang Economic and Technological Development Zone Management Committee [1] - **Financial Details** - The share transfer involves 153,146,472 shares priced at 3.87 yuan each, amounting to a total of 592,676,846.64 yuan [1] - The transaction does not constitute a related party transaction and does not trigger a mandatory tender offer [1] - **Completion of Transfer** - The transfer of shares has been completed, and the company has received notification of the successful registration of the transfer [1]

Core Points - Aoyang Health (SZ 002172) announced the completion of a share transfer, with 153,146,472 shares (20.00% of total shares) transferred to Zhangjiagang Yuesheng Technology Partnership, changing the controlling shareholder from Aoyang Group to Yuesheng Technology [1] - The actual controller of the company has changed from Shen Xueru to the Management Committee of Zhangjiagang Economic and Technological Development Zone [1] - For the first half of 2025, Aoyang Health's revenue composition was 52.49% from medical services and 47.51% from pharmaceutical logistics [1] - As of the announcement, Aoyang Health's market capitalization is 3.4 billion yuan [1]

Core Points - Aoyang Health announced that Yuesheng Technology has acquired a 20% stake in the company for a total amount of 593 million yuan [1] - Following this equity change, Yuesheng Technology will hold 153 million shares, representing 20.00% of the company's total share capital [1] - The controlling shareholder will change from Aoyang Group to Yuesheng Technology, and the actual controller will change from Shen Xueru to the Management Committee of Zhangjiagang Economic and Technological Development Zone [1]

Core Viewpoint - The announcement indicates that a major shareholder, Aoyang Group, has released part of its pledged shares in Aoyang Health, which may reflect a shift in the shareholder's strategy or confidence in the company's future performance [1] Summary by Categories Shareholder Actions - Aoyang Group has released 15 million shares from pledge, which accounts for 18.25% of its total holdings and 1.96% of the company's total share capital [1] - The pledge was initiated on December 13, 2023, and the release date is set for November 3, 2025 [1] Current Pledge Status - As of the announcement date, the total number of pledged shares by the company's shareholders and their concerted actions amounts to 79.93% of their total holdings [1]

江苏澳洋健康产业股份有限公司 关于公司股东部分股份解除质押的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，对公告的虚 假记载、误导性陈述或者重大遗漏负连带责任。 江苏澳洋健康产业股份有限公司（以下简称"澳洋健康"或"公司"）近日接到 持股 5%以上股东澳洋集团有限公司（以下简称"澳洋集团"）的通知，获悉澳洋 集团所持有公司的部分股份解除质押，具体事项如下： 关于公司股东部分股份解除质押的公告 证券代码：002172 证券简称：澳洋健康 公告编号：2025-35 截至公告披露日，上述股东及其一致行动人所持质押股份情况如下： | | | | | | | 已质押股份 | | 未质押股份 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 累计质押/ | 占其所 | 占公司 | 情况 | | 情况 | | | 股东名 称 | 持股数量 （股） | 持股比 例 | 冻结/拍卖 等数量（股） | 持股份 比例 | 总股本 比例 | 已质押 股份限 售和冻 | 占已质 押股份 | 未质押股 份限售和 | 占未质押 ...

Core Insights - The company reported a total revenue of 1.36 billion yuan for Q3 2025, a decrease of 141 million yuan compared to the same period last year, representing a year-on-year decline of 9.39% [1] - The net profit attributable to shareholders was 40.11 million yuan, ranking 26th among disclosed peers [1] - The company experienced a negative cash flow from operating activities amounting to -28.66 million yuan, ranking 45th among disclosed peers [1] Financial Metrics - The latest debt-to-asset ratio is 91.97%, ranking 51st among disclosed peers [3] - The gross profit margin is 14.27%, ranking 48th, with a decrease of 0.57 percentage points from the previous quarter [3] - The return on equity (ROE) is 22.97%, down 6.21 percentage points compared to the same period last year [3] - The diluted earnings per share (EPS) is 0.05 yuan, ranking 33rd among disclosed peers [3] - The total asset turnover ratio is 0.68 times, a decrease of 0.04 times year-on-year, representing a decline of 4.98% [3] - The inventory turnover ratio is 8.24 times [3] Shareholder Structure - The number of shareholders is 58,300, with the top ten shareholders holding a total of 276 million shares, accounting for 36.02% of the total share capital [3] - The largest shareholder is Aoyang Group Co., Ltd., holding 30.7% of the shares [3] - Other notable shareholders include Shen Qing (2.24%), Tui Jian (1.31%), and Li Anming (0.37%) [3]

Core Viewpoint - Aoyang Health, a prominent player in the private hospital sector in China, has shown mixed financial performance in Q3 2025, ranking 8th in both revenue and net profit within its industry, indicating challenges in competitiveness compared to leading companies like Aier Eye Hospital and Meien Health [2][3]. Financial Performance - In Q3 2025, Aoyang Health reported a revenue of 1.36 billion yuan, ranking 8th out of 15 in the industry, significantly lower than Aier Eye Hospital's 17.48 billion yuan and Meien Health's 6.93 billion yuan, and just at the industry median of 2.966 billion yuan [2]. - The company's net profit for the same period was 40.72 million yuan, also ranking 8th, far below Aier Eye Hospital's 3.367 billion yuan and Tongce Medical's 616 million yuan, and lower than the industry average of 290 million yuan [2]. Financial Ratios - Aoyang Health's debt-to-asset ratio stood at 91.97% in Q3 2025, a decrease from 94.13% year-on-year but still significantly above the industry average of 46.74% [3]. - The gross profit margin was reported at 14.27%, an increase from 13.72% year-on-year, yet it remains below the industry average of 31.10% [3]. Executive Compensation - The chairman, Shen Xueru, received a salary of 766,000 yuan in 2024, an increase of 164,000 yuan from 2023 [4]. - The general manager, Li Jing, saw her salary rise to 755,700 yuan in 2024, up by 303,900 yuan from the previous year [4]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 10.91% to 58,300, while the average number of circulating A-shares held per account increased by 12.24% to 13,100 [5].

Core Viewpoint - Aoyang Health (002172.SZ) reported a decline in revenue for the first three quarters of 2025, while net profit showed a slight increase, indicating mixed financial performance [1] Financial Performance - The company achieved an operating revenue of 1.36 billion yuan, representing a year-on-year decrease of 9.39% [1] - The net profit attributable to shareholders of the listed company was 40.11 million yuan, reflecting a year-on-year increase of 3.71% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 32.03 million yuan, which is a year-on-year decrease of 10.61% [1]

Financial Performance - The company's operating revenue for the third quarter was ¥457,628,364.12, a decrease of 2.57% compared to the same period last year[3] - Net profit attributable to shareholders increased significantly by 533.86% to ¥8,557,819.04 for the quarter[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,354,254.97, up 63.23% year-on-year[3] - Total operating revenue decreased to ¥1,360,398,182.64 from ¥1,501,392,158.94, representing a decline of approximately 9.4% year-over-year[18] - Net profit increased to ¥40,715,203.44 compared to ¥39,622,828.72, reflecting a growth of approximately 2.8% year-over-year[18] - The company's investment income improved to ¥1,992,707.08 from a loss of ¥460,456.68, marking a positive turnaround[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,928,841,756.34, a decrease of 5.96% from the previous year[3] - Total assets decreased to ¥1,928,841,756.34 from ¥2,051,047,821.36, a decline of about 6.0%[16] - Total liabilities decreased to ¥1,773,861,055.90 from ¥1,935,817,324.36, a reduction of approximately 8.4%[16] - The company's fixed assets rose to CNY 766,676,307.87 from CNY 668,395,685.45, marking an increase of approximately 14.7%[14] - The company has a goodwill amounting to CNY 10,085,353.67, unchanged from the previous period[14] Equity and Shareholder Information - The owner's equity attributable to shareholders increased by 29.82% to ¥174,636,111.86 compared to the end of the previous year[3] - Total equity increased to ¥154,980,700.44 from ¥115,230,497.00, reflecting a growth of about 34.5%[16] - The number of ordinary shareholders at the end of the reporting period was 58,320[9] Cash Flow and Operating Activities - Cash flow from operating activities showed a net increase of 87.50%, amounting to -¥28,655,423.31 year-to-date[3] - Cash flow from operating activities totaled ¥1,360,151,975.06, down from ¥1,762,781,352.49, a decrease of approximately 22.8% year-over-year[20] - Net cash flow from operating activities was -$28.66 million, a significant improvement from -$229.24 million in the previous period, indicating a positive trend in operational efficiency[21] - Cash paid to employees was approximately $240.80 million, slightly down from $245.26 million, reflecting cost control measures[21] - Cash paid for taxes increased to $43.54 million from $41.73 million, indicating a rise in tax obligations[21] Current Assets and Inventory - The company reported a total current assets of CNY 1,055,512,613.01 as of September 30, 2025, down from CNY 1,128,216,751.49 at the beginning of the period, representing a decrease of approximately 6.4%[14] - Cash and cash equivalents decreased to CNY 460,072,797.69 from CNY 521,489,938.85, reflecting a decline of about 11.8%[14] - Accounts receivable increased to CNY 320,242,539.93 from CNY 291,583,598.00, indicating a growth of approximately 9.8%[14] - Inventory decreased to CNY 133,597,757.54 from CNY 149,474,811.92, showing a reduction of about 10.6%[14] Investment and Financing Activities - The company reported a significant increase in investment income by 532.77% year-on-year due to gains from the disposal of subsidiaries[8] - Cash inflow from financing activities totaled $1.11 billion, down from $1.40 billion, primarily due to a decrease in borrowings[21] - The net cash flow from financing activities was $15.20 million, a decrease from $109.57 million, suggesting tighter cash management strategies[21] - Total cash outflow from investing activities was $29.54 million, compared to $76.76 million in the prior period, reflecting a reduction in capital expenditures[21] Audit and Reporting - The company has not yet audited its third-quarter financial report, which may affect the reliability of the reported figures[24]