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]

2024年年报披露，截至2024年12月31日，光正眼科累计计提商誉减值准备3.74亿元。仅在2024年就对两 家收购的眼科医院计提商誉减值准备1.35亿元，其中，上海光正新视界眼科医院投资有限公司（简 称"光正新视界"）计提约1.3亿元商誉减值准备，义乌光正眼科医院有限公司（简称"义乌光正眼科医 院"）计提4791.57亿元商誉减值准备。曾被寄予厚望的眼科医疗业务，并未给正光眼科带来光明前途， 却再一次成为其业绩拖累，更是让其归母净利润进一步创新低，达到-1.75亿元。 光正眼科原名为光正集团股份有限公司（以下简称光正集团），主营钢结构业务，但因该行业毛利率 低、回款周期长，光正集团通过收购进军天然气领域。中银国际2013年6月发表的研报曾认为，光正集 团成功转型，未来发展潜力巨大，腾飞在即。但自2013年开始，光正集团却开始持续亏损。2018年，光 正集团再次从战略上调整了方向，提出要逐步剥离钢结构资产，直到全部剥离相关业务资产，同时专注 于眼科医疗业务。 4月24日，光正眼科医院集团股份有限公司（简称"光正眼科"）披露2024年年报，报告期内公司实现营 收8.93亿元，同比下滑16.94%；归母净利润由 ...

4月23日晚间，光正眼科（002524）披露2024年年报，报告期公司实现营业收入8.93亿元，归属于上市 公司股东的净利润-1.75亿元，经营活动产生的现金流量净额6907.34万元，同比增长77.54%。 资料显示，光正眼科主要从事眼科医院的投资、管理业务，致力于成为行业最受尊敬、最具影响力的眼 科医疗机构；目前已经在上海、成都、重庆、郑州、南昌、呼和浩特、济南、青岛、无锡、义乌等10个 中心城市开设了14家专业眼科医院和3家眼视光诊所，为全国各地的广大患者提供覆盖眼科全病种的专 业性诊疗服务，技术水平及业务规模均处于民营眼科行业中领先地位。 报告期，国内消费疲软，行业竞争日趋加剧，光正眼科眼科板块受到相关影响，收入有所下滑；钢结构 板块受外部行业整体下行压力更为显著，收入较去年同期大幅下降；能源板主要采用对外租赁的业务模 式，租金相对稳健，相关业务收入保持稳定。针对上述情况，光正眼科将继续秉持高质量稳健发展的宗 旨，扎实推进组织经验沉淀，强化标准化流程化建设，深挖内部潜力，控制成本，提高效率，对白内障 等业务条线的组织经验进行沉淀，并制定相关机制，鼓励优秀员工优秀经验在组织内部的沉淀与传播； 同时，各事 ...

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 ...

光正眼科医院集团股份有限公司 2024年度独立董事述职报告 （YAN,Aimin） 作为光正眼科医院集团股份有限公司（以下简称"公司"）的独立董事，本 人严格按照《公司法》《证券法》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》《上市公司独立董事管理办法》及《公司章程》 《独立董事工作制度》等相关法律法规的规定，认真履行职责，积极出席相关会 议，认真审议董事会各项议案，对公司相关事项发表独立意见，充分发挥独立董 事的独立作用，切实维护了公司和股东的利益。现将 2024 年度本人履职情况汇 报如下： 一、独立董事的基本情况 （一）工作履历、专业背景以及兼职情况 本人 YAN,Aimin，男，汉族，出生于 1956 年，美国国籍，管理学博士。1982 年至 1987 年在上海机械学院任讲师，1987 年至 1993 年在美国宾州州立大学商 学院就读博士并任研究员，1993 年至 2016 在美国波士顿大学管理学院历任助理 教授、副教授、教授，2002 年至今在长江商学院任管理学客座教授、教授、高 级副院长。现任 TCL 中环（002129）独立董事、光正眼科医院集团股份有限公司 独立董事 ...

（二）社会上存在的已经或将给公司造成不良影响的传言或信息； 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 舆情管理制度 第一章 总则 第一条 为提高光正眼科医院集团股份有限公司（简称"公司"）应对各类 舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公司股 票及其衍生品种交易价格、商业信誉及正常经营管理活动造成的影响，切实保护 投资者合法权益，根据相关法律、法规和规范性文件及《光正眼科医院集团股份 有限公司章程》（简称"《公司章程》"）的规定，结合公司实际情况，制定本 制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道、不实报道； （三）可能或者已经影响社会公众投资者投资取向，造成股价异常波动的信 息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较 大影响的事件信息。 第三条 舆情信息的分类包括： （一）重大舆情：指传播范围较广，严重影响公司公众形象或正常经营活动， 使公司已经或可能遭受损失，已经或可能造成公司股票及其衍生品种交易价格变 动的负面舆情。 （二）一般舆情：指除重大舆情之外的其他舆情。 第二章 舆情管理的组织体 ...