Group 1 - The core business of the company is focused on investment and management of ophthalmology hospitals, with main products including refractive projects, cataract projects, vision care services, and steel structure manufacturing and installation [1] - As of the first quarter of 2025, the company reported revenue of 208 million yuan, a year-on-year increase of 4.32%, and a net profit of 573,800 yuan, a year-on-year increase of 103.06%, with a gross profit margin of 37.61% [1] - The company's stock closed at 4.24 yuan, up 2.17%, with a latest price-to-book ratio of 19.27, marking a new low in 40 days, and a total market capitalization of 2.198 billion yuan [1] Group 2 - The company has three institutional investors holding a total of 137.3928 million shares, with a total market value of 541 million yuan [1] - The company's price-to-earnings ratio (TTM) is -14.15, while the industry average is 38.49, indicating a significant disparity [2] - The company's market capitalization stands at 2.198 billion yuan, compared to the industry median of 5.270 billion yuan [2]

光正眼科医院集团股份有限公司 证券代码：002524 证券简称：光正眼科 公告编号：2025-043 光正眼科医院集团股份有限公司 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP， 参与本次互动交流，活动时间为 2025 年 5 月 23 日（周五） 15:00-17:30。届时 公司高管将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况和可持 续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参 与！ 特此公告。 光正眼科医院集团股份有限公司董事会 二〇二五年五月十六日 关于参加 2025 年新疆辖区上市公司投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，光正眼科医院集团股份有限公司（以下 简称"公司"）将参加由新疆上市公司协会根据新疆证监局工作部署，联合深圳 市全景网络有限公司举办的"2025 年新疆辖区上市公司投资者网上集体接待日 活动"，现将相关事项公 ...

Industry Rating - The industry investment rating is maintained at "Outperform the Market" [1] Core Insights - The medical services sector is under pressure in 2024 due to high base effects, but macroeconomic improvements are expected to drive a sustained recovery [2][5] - In Q1 2025, the demand for medical services has stabilized, leading to continuous profit improvement [3][5] - The gross profit margin has slightly declined, with 2024's margin at 37.02%, down 1.24 percentage points, and Q1 2025's margin at 36.14% [4][9] Summary by Sections 2024 Performance - The overall revenue for the medical services sector in 2024 is projected at 73.908 billion yuan, a year-on-year increase of 1.29% - The net profit attributable to shareholders is expected to be 4.857 billion yuan, a decrease of 16.37% - The net profit excluding non-recurring items is forecasted at 4.229 billion yuan, down 22.95% [2][9] Q1 2025 Performance - The total revenue for the medical services sector in Q1 2025 is 18.005 billion yuan, reflecting a year-on-year growth of 2.48% - The net profit attributable to shareholders is 1.325 billion yuan, showing a year-on-year increase of 16.24% - The net profit excluding non-recurring items is 1.266 billion yuan, up 18.21% [3][9] Profitability Metrics - The gross profit margin for 2024 is 37.02%, with a slight decline to 36.14% in Q1 2025 - The operating cash flow for Q1 2025 is 2.332 billion yuan, with a cash flow to net profit ratio of 158.22% [4][7]

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。 关于举办 2024 年度业绩网上说明会的公告 光正眼科医院集团股份有限公司 证券代码：002524 证券简称：光正眼科 公告编号：2025-042 光正眼科医院集团股份有限公司 光正眼科医院集团股份有限公司（以下简称"公司"）将于 2025 年 5 月 19 日（星期一）下午 15:30—16:30，举办 2024 年年度报告网上说明会，与广大股 东和投资者对公司发展战略、经营情况等进行沟通和交流。本次年度业绩说明会 将 采 用 网 络 远 程 的 方 式 举 行 ， 投 资 者 可 登 陆 深 交 所 成 长 通 平 台 （https://list.cninfo.com.cn）参与本次年度业绩说明会。 光正眼科医院集团股份有限公司董事会 二〇二五年五月十四日 参加本次业绩说明会的有：公司董事长、总经理兼董秘周永麟先生，独立董 事郑石桥先生,董事兼财务总监李俊英女士，证券事务代表雒萍女士。 为充分尊重投资者、提升交流的针对性，现就公司 2024 年度业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议 ...

Core Insights - The company reported a revenue of 208 million yuan and a net profit attributable to shareholders of 573,800 yuan for Q1 2025, marking a turnaround with a 103.06% improvement compared to the same period last year [1] - The company is focusing on high-end cataract and refractive surgery, transitioning from basic cataract surgeries to advanced refractive cataract surgeries to meet the increasing quality demands of middle-aged and elderly patients [1][2] - The refractive and cataract projects remain the core business, generating revenues of 258 million yuan and 288 million yuan respectively, accounting for 61.15% of total revenue, with gross margins of 43.86% and 49.87% [1] Business Strategy - The company is deepening its integrated development strategy in medical education, research, and services, collaborating with Fudan University and Jiangnan University to enhance research capabilities and innovation in eye health [2] - The company aims to implement a core strategy focused on "eye care medical business" and "smart hospital construction," emphasizing the integration of AI in services and management [2] - Future growth is expected to rely on technological upgrades, digital innovation, and resource integration to overcome profitability challenges and achieve high-quality growth in a competitive market [2]

Financial Performance - The company reported a basic earnings per share of 0.0000 yuan for Q1 2025, a significant improvement from -0.0400 yuan in Q1 2024, marking a 100% increase [1] - Net profit for Q1 2025 was 0.01 billion yuan, compared to a loss of 0.19 billion yuan in Q1 2024, representing a 105.26% increase [1] - Operating revenue for Q1 2025 was 2.08 billion yuan, up 4% from 2 billion yuan in Q1 2024 [1] - The return on equity (ROE) improved to 0.50% in Q1 2025 from -6.84% in Q1 2024, indicating a 107.31% increase [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 15,177.04 million shares, accounting for 29.87% of the circulating shares, with a slight increase of 9.92 million shares from the previous period [1] - The largest shareholder, Guangzheng Investment Co., Ltd., holds 12,916.87 million shares, representing 25.41% of the total share capital, with no change in holdings [2] - New entrants among the top shareholders include Lin Yande, Hao Caiming, and Hao Chengxiang, while Xun Yanhong, Qiu Wanshu, and Luo Wenhua have exited the top ten list [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [3]

Financial Performance - The company's revenue for Q1 2025 was ¥208,167,536.89, representing a 4.32% increase compared to ¥199,537,963.66 in the same period last year[5] - Net profit attributable to shareholders was ¥573,756.72, a significant turnaround from a loss of ¥18,726,197.86, marking a 103.06% improvement[5] - The total profit for the current period is 1,236,552.51, while the previous period recorded a total loss of 19,249,776.86[21] - The company reported a net loss of CNY 473,792,571.21 for the first quarter, slightly improved from a loss of CNY 474,366,327.93 in the previous year[20] - The net profit for the current period is 741,381.28, compared to a net loss of 19,115,670.01 in the previous period[21] Cash Flow - The net cash flow from operating activities was -¥9,775,894.88, a decline of 59.33% from -¥6,135,808.25 in the previous year[10] - Operating cash flow net amount is -9,775,894.88, compared to -6,135,808.25 in the previous period, indicating a decline in cash flow from operations[22] - The total cash inflow from operating activities is 196,051,767.32, down from 200,747,384.16 in the previous period[22] - The total cash outflow from operating activities is 205,827,662.20, slightly decreased from 206,883,192.41 in the previous period[22] - The cash flow from financing activities net amount is 22,941,753.89, a significant improvement from -17,623,697.80 in the previous period[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,268,648,780.94, up 0.83% from ¥1,258,163,006.60 at the end of the previous year[5] - The total assets as of March 31, 2025, amounted to CNY 1,268,648,780.94, compared to CNY 1,258,163,006.60 at the beginning of the period, indicating a slight increase of about 0.7%[20] - The total liabilities increased to CNY 1,149,381,615.33 from CNY 1,140,864,832.23, which is an increase of approximately 0.1%[20] Research and Development - Research and development expenses increased by 113.62% to ¥625,006.00, indicating a focus on enhancing innovation[10] - The company’s research and development expenses for the quarter were CNY 625,006.00, up from CNY 292,573.94 in the previous year, indicating an increase of approximately 113.3%[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 47,404, with the largest shareholder holding 24.91% of the shares[11] - The company received government subsidies amounting to ¥89,705.03, contributing positively to its financial performance[8] Other Financial Metrics - The weighted average return on equity improved to 0.50% from -6.84% year-on-year[5] - The company has no other non-recurring profit and loss items that meet the definition of non-recurring profit and loss[9] - The company completed a capital increase of CNY 40 million for its subsidiary, Shanghai New Vision East District Eye Hospital, raising its registered capital to CNY 100 million[12] - The company recorded a credit impairment loss of 1,201,040.93, compared to 518,951.32 in the previous period[21] - The company received cash from minority shareholders amounting to 400,000.00 during the current period[25] - The company's cash and cash equivalents increased to CNY 80,988,350.96 from CNY 67,688,828.82, reflecting a growth of approximately 19.5%[16] - Cash and cash equivalents at the end of the period amount to 77,659,375.11, an increase from 41,598,822.55 in the previous period[25] - The company reported a basic earnings per share of 0.00, compared to a diluted loss per share of -0.04 in the previous period[21] - The total operating costs decreased to CNY 210,803,000.59 from CNY 222,617,873.47, showing a reduction of about 5.3%[19] - The company’s inventory increased to CNY 31,990,843.46 from CNY 26,376,965.56, reflecting a growth of about 21.5%[16] - The company’s long-term equity investments stood at CNY 12,583,281.50, a marginal increase from CNY 12,540,835.87 at the beginning of the period[16]

Core Viewpoint - Guangzheng Eye Hospital Group Co., Ltd. reported a significant decline in revenue and net profit for 2024, indicating ongoing challenges in its business transformation efforts [2][4]. Financial Performance - The company achieved a revenue of 893 million yuan, a year-on-year decrease of 16.94% [2]. - The net profit attributable to shareholders turned from profit to a loss of 175 million yuan, a drastic decline of 1987.12% year-on-year [2]. - The non-recurring net profit has remained negative for 12 consecutive years [2]. Business Segment Analysis - The medical sector generated 778 million yuan in revenue, down 6.88% year-on-year, accounting for 87.17% of total revenue [3]. - The steel structure segment saw a revenue drop of 61.78% to 79.19 million yuan, representing 8.87% of total revenue [3]. - The energy sector reported a revenue increase of 10.66% to 35.36 million yuan, making up 3.96% of total revenue [3]. Major Projects and Challenges - The refractive and cataract projects in the eye care business generated revenues of 258 million yuan and 288 million yuan, respectively, both showing declines of 13.09% and 8.88% year-on-year [3]. - The company has opened 14 specialized eye hospitals and 3 vision clinics in 10 major cities [3]. - The company has cumulatively recognized goodwill impairment provisions of 374 million yuan, with 135 million yuan recognized in 2024 alone for two acquired eye hospitals [4]. Strategic Transformation - Guangzheng Eye Hospital has undergone several strategic shifts, moving from steel structure operations to focusing on eye care services [5][6]. - The company had high expectations for its eye care business, but it has not yet yielded the anticipated results, leading to further losses [4][7]. - The competitive landscape in the eye care industry has intensified, impacting the company's revenue and profit margins [4][7].

Core Viewpoint - Guangzheng Eye Hospital reported a revenue of 893 million yuan for 2024, with a net profit attributable to shareholders of -175 million yuan, while cash flow from operating activities increased by 77.54% to 69.07 million yuan [1] Group 1: Financial Performance - The company experienced a decline in revenue due to weak domestic consumption and intensified industry competition, particularly in the ophthalmology sector [2] - The steel structure segment faced significant revenue decline due to external industry pressures, while the energy board maintained stable rental income [2] - Core businesses in refractive and cataract surgery generated revenues of 258 million yuan and 288 million yuan, respectively, accounting for 61.15% of total revenue, with gross margins of 43.86% and 49.87% [3] Group 2: Strategic Initiatives - The company is focusing on high-end cataract surgeries and refractive procedures to meet the increasing quality demands of patients, transitioning from basic cataract surgeries to advanced refractive cataract surgeries [3] - Guangzheng Eye Hospital is enhancing its academic and research capabilities through partnerships with Fudan University and Jiangnan University, contributing to innovative breakthroughs in corneal cross-linking treatments and other research projects [4] - The company is committed to social responsibility through its "technology + public welfare" approach, conducting vision restoration surgeries in high-altitude regions [4] Group 3: Future Development Plans - Over the next three years, the company aims to deepen its focus on ophthalmology, enhance smart hospital construction, and integrate AI into its services, management, and operations [5] - The strategic direction includes a focus on cataract as a foundation, refractive vision as a center, and breakthroughs in ocular surface and cosmetic surgery [5] - The company plans to leverage technological upgrades and digital innovations to overcome profitability challenges and achieve high-quality growth in a competitive landscape [5]

重大交易管理制度（草案） 第一章 总则 第一条 光正眼科医院集团股份有限公司（以下简称"公司"）为进一步规范 公司重大交易的程序及审批权限，提高重大交易管理效率，维护公司和全体股东 的利益，根据有关法律、法规和公司章程的规定，特制定本制度。 第二条 本制度所称"重大交易"是指除公司日常经营活动之外发生的下列类 型的事项：（一）购买资产；（二）出售资产；（三）重大对外投资（含委托理财、 对子公司投资等）；（四）提供财务资助（含委托贷款等）；（五）提供担保（含对 控股子公司担保等）；（六）租入或者租出资产；（七）委托或者受托管理资产和 业务；（八）赠与或者受赠资产；（九）债权或者债务重组；（十）转让或者受让 研发项目；（十一）签订许可协议；（十二）放弃权利（含放弃优先购买权、优先 认缴出资权利等）；（十三）深圳证券交易所认定的其他交易。 公司发生与日常经营相关的下列类型的事项（简称"日常交易"）不属于重 大交易：（一）购买原材料、燃料和动力；（二）接受劳务；（三）出售产品、商 品；（四）提供劳务；（五）工程承包；（六）与公司日常经营相关的其他交易。 资产置换中涉及上述日常交易规定交易的，适用重大交易的规定。 第三 ...