爱尔眼科医院集团股份有限公司（以下简称"公司"）第六届董事会第三十 五次会议于 2025 年 5 月 6 日以通讯表决方式召开，会议通知于 2025 年 4 月 30 日以邮件方式送达。会议由董事长陈邦先生召集主持，应到董事 7 人，实到董事 7 人，会议的召开符合《公司法》和《公司章程》的有关规定，会议合法、有效。 经审议，本次会议一致通过如下议案： 《关于 2021 年限制性股票激励计划预留授予部分第三个解除限售期解除限 售条件成就但股票暂不上市的议案》 2021 年限制性股票激励计划预留授予部分第三期解除限售条件达成之日为 2025 年 5 月 6 日；本次符合解除限售条件的激励对象共计 1,025 名，均满足 100% 解除限售条件，可解除限售的限制性股票数量为 6,241,526 股，占公司目前总股 本的 0.0669%；根据公司《2021 年限制性股票激励计划（草案）》所有激励对象 承诺，自每个解除限售的条件达成之日起 6 个月内，其所持有的当批次解除限售 的全部限制性股票不得转让。故本次解除限售的限制性股票暂不上市，继续禁售 至 2025 年 11 月 5 日。 该项议案已经董事会薪酬与考核委员 ...

湖南启元律师事务所 关于爱尔眼科医院集团股份有限公司 2021 年限制性股票激励计划预留授予部分 第三个解除限售期解除限售条件成就相关事项 的法律意见书 2025 年 5 月 致：爱尔眼科医院集团股份有限公司 湖南启元律师事务所（以下简称"本所"）接受爱尔眼科医院集团股份有限公 司（以下简称"公司""爱尔眼科"）的委托，作为公司2021年限制性股票激励计 划项目（以下简称"本次激励计划""激励计划"）专项法律顾问为公司本次激励 计划提供专项法律服务。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）及中国证券监督管理委员会（以 下简称"中国证监会"）发布的《上市公司股权激励管理办法》（以下简称"《管理 办法》"）、深圳证券交易所发布的《深圳证券交易所创业板上市公司自律监管 指南第1号——业务办理》（以下简称"《监管指南》"）、《深圳证券交易所创业 板股票上市规则》（以下简称"《上市规则》"）等现行法律、法规和规范性文 件以及《爱尔眼科医院集团股份有限公司章程》（以下简称"《公司章程》"）的 有关规定，按照律师行业公认的业务标准、道德规范和勤勉 ...

Core Insights - The company reported a revenue of 20.98 billion yuan for 2024, a year-on-year increase of 3.0%, and a net profit attributable to shareholders of 3.56 billion yuan, up 5.9% year-on-year [1] - In Q1 2025, the company achieved a revenue of 6.03 billion yuan, representing a 16.0% year-on-year growth, with a net profit of 1.05 billion yuan, an increase of 16.7% year-on-year [1] Revenue Breakdown - Medical services generated revenue of 14.49 billion yuan in 2024, a 4.0% increase year-on-year, accounting for 69% of total revenue [1] - Within medical services, refractive projects contributed 7.60 billion yuan (2.3% increase), cataract projects 3.49 billion yuan (4.9% increase), anterior segment revenue 1.90 billion yuan (6.0% increase), and posterior segment revenue 1.50 billion yuan (8.0% increase) [1] - The gross margin for medical services in 2024 was 45.9%, down 3.1 percentage points from 2023, with declines in refractive, cataract, anterior, and posterior segments [1] Vision Care Segment - The vision care segment achieved revenue of 5.28 billion yuan in 2024, a 6.4% year-on-year increase, representing 25.2% of total revenue [2] - The company is expanding its presence through a "ophthalmology outpatient + hospital" model and has seen significant growth in OK lenses and defocus lenses [2] - The company is implementing a "1+8+N" strategic layout to enhance its global medical network, with multiple regional eye centers established and acquisitions of 87 medical institutions to strengthen its grassroots hospital network [2] Future Earnings Forecast - The expected EPS for 2025, 2026, and 2027 are projected to be 0.43 yuan, 0.49 yuan, and 0.55 yuan respectively [3]

Core Insights - The company reported a total revenue of 20.983 billion yuan for 2024, representing a year-on-year growth of 3.02%, and a net profit attributable to shareholders of 3.556 billion yuan, up 5.87% [1] - For Q1 2025, the company achieved a total revenue of 6.026 billion yuan, reflecting a year-on-year increase of 15.97%, and a net profit of 1.050 billion yuan, which is a 16.71% growth [1] - The company experienced steady overseas growth with overseas revenue reaching 2.625 billion yuan, a 13.53% increase, while domestic revenue was 18.358 billion yuan, a modest rise of 1.68% [1] Financial Performance - The company's gross profit margin decreased by 2.67 percentage points to 48.12% in 2024 [1] - The company plans to distribute a cash dividend of 1.6 yuan per 10 shares, totaling 1.487 billion yuan, which accounts for 41.82% of the net profit attributable to shareholders for 2024 [2] - The company executed two share repurchase plans, buying back 31,363,178 shares, which is 0.34% of the total share capital, for a total amount of 586 million yuan [2] Growth and Strategy - The company reported an outpatient volume of 16.9407 million visits, a year-on-year increase of 12.14%, and a surgical volume of 1.2947 million cases, up 9.38% [1] - The company is advancing its "AI + ophthalmology" application strategy, launching the AierGPT model in September 2024, aimed at enhancing eye health education, diagnosis, training, and management [1] Future Outlook - Revenue projections for 2025-2027 are 25.147 billion, 29.128 billion, and 33.243 billion yuan, with expected growth rates of 19.8%, 15.8%, and 14.1% respectively [2] - Net profit forecasts for the same period are 4.387 billion, 5.159 billion, and 5.982 billion yuan, with growth rates of 23.4%, 17.6%, and 16.0% respectively [2]

Group 1 - The ChiNext 50 Index (399673) has shown a 0.92% increase as of April 30, 2025, with notable gains from constituent stocks such as Runhe Software (300339) up 4.55% and Softcom Power (301236) up 3.48% [3] - The ChiNext 50 ETF (159367) has increased by 1.12%, with a latest price of 0.9 yuan, and has seen a cumulative increase of 0.56% over the past week [3] - The liquidity of the ChiNext 50 ETF is reflected in a turnover rate of 0.13% and a transaction volume of 51,000 yuan, with an average daily transaction of 7.24 million yuan over the past year [3] Group 2 - The ChiNext 50 Index selects the top 50 stocks from the top 100 by market capitalization and liquidity on the ChiNext board, representing large-cap companies with strong growth potential across various sectors including power equipment, non-bank finance, and pharmaceuticals [4] - The ChiNext 50 ETF has two core advantages: a 20% price fluctuation limit providing greater trading flexibility compared to traditional broad-based indices, and the lowest management fee of 0.15% and custody fee of 0.05% among similar products [4] - As of March 31, 2025, the top ten weighted stocks in the ChiNext 50 Index account for 64.18% of the index, with Ningde Times (300750) holding the highest weight at 24.47% [4][6]

Investment Rating - The report assigns a "Sell" rating to Aier Eye Hospital Group due to missed expectations and lack of growth visibility [16][5][12]. Core Insights - Aier reported FY24 revenue of Rmb21 billion, a 3% year-over-year increase, and a net profit of Rmb3.6 billion, reflecting a 5.9% year-over-year growth, which was below consensus estimates [1][5]. - The company experienced a significant contraction in gross profit margin in 4Q24, dropping to 38.0% from 47.0% in 4Q23, attributed to increased promotions and lower margins from newly consolidated hospitals [2][5]. - Management indicated that while there was strong growth in January and February 2025, the overall growth prospects for FY25 remain uncertain due to market conditions [1][4]. Financial Performance Summary - FY24 net profit was Rmb3.6 billion, with a diluted EPS of Rmb0.385, representing a 5.9% growth [6]. - The company expects revenue growth to be driven primarily by small hospitals in the domestic market, while overseas expansion lacks visibility [4][5]. - The target price is maintained at Rmb7, with the stock trading at a P/E ratio of 28x for FY25, indicating a stretched valuation given the limited growth visibility [5][17]. Revenue and Earnings Estimates - Revenue estimates for FY25E and FY26E have been fine-tuned, with projected revenues of Rmb23.1 billion and Rmb24.9 billion respectively [5][12]. - The report anticipates a core net profit of Rmb4.3 billion for FY25E, reflecting a 20.7% growth [6][12].

证券代码：300015 股票简称：爱尔眼科 公告编号：2025-035 补充流动资金的公告》（公告编号：2025-006）。 爱尔眼科医院集团股份有限公司 关于部分募集资金专户销户完成的公告 本公司及董事会全体成员保证公告内容的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏。 一、募集资金基本情况 经中国证券监督管理委员会《关于同意爱尔眼科医院集团股份有限公司向特定 对象发行股票注册的批复》（证监许可[2022]1704号）同意注册，公司向特定对象 发行人民币普通股股票（A股）133,467,485股，每股面值人民币1.00元，发行价格 为26.49元/股，募集资金总额为人民币3,535,553,677.65元，扣除含税的发行费用 人民币24,311,497.54元，实际募集资金净额为人民币3,511,242,180.11元。本次发 行募集资金已于2022年9月20日全部到位，中审众环会计师事务所（特殊普通合伙） 于2022年9月21日对本次发行募集资金的到位情况进行了审验，并出具了《验资报告》 （众环验字（2022）0100003号）。 二、募集资金专户销户情况 2025 年 3 月 6 日，公司 ...

证券代码：300015 股票简称：爱尔眼科 公告编号：2025-034 爱尔眼科医院集团股份有限公司 关于使用部分闲置自有资金进行现金管理的实施公告 本公司及董事会全体成员保证公告内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 爱尔眼科医院集团股份有限公司（以下简称"公司"）于 2025 年 3 月 24 日召开第六届董事会第三十二次会议和第六届监事会第二十次会议，审议通过了 《关于使用部分闲置自有资金进行现金管理的议案》，同意公司在保证日常经营 资金需求和资金安全的前提下，使用不超过人民币 15 亿元的闲置自有资金购买 安全性高、流动性好、风险性低的理财产品，期限为自公司第六届董事会第三十 二次会议决议之日起 12 个月。在上述额度及期限内，资金可循环滚动使用，由 公司财务中心负责具体购买事宜。上述内容详见公司 2025 年 3 月 24 日在巨潮资 讯网（www.cninfo.com.cn）披露的相关公告。 根据上述决议，公司于近期办理了投资理财业务。现就具体事项公告如下： 二、风险控制措施 一、本次使用部分暂时闲置自有资金进行现金管理的实施情况 产品名称：东兴证券周添利 2 号集合资产管理 ...