证券代码：300015 证券简称：爱尔眼科 公告编号：2025-045 爱尔眼科医院集团股份有限公司 第六届监事会第二十四次会议决议公告 具体内容详见公司在巨潮资讯网（www.cninfo.com.cn）披露的《关于 2021 年限制性股票激励计划首次授予部分第四个解除限售期解除限售条件成就但股 票暂不上市的公告》。 特此公告。 《关于 2021 年限制性股票激励计划首次授予部分第四个解除限售期解除 限售条件成就但股票暂不上市的议案》 公司 2021 年限制性股票激励计划首次授予部分第四期解除限售条件达成之 日为 2025 年 6 月 15 日；监事会对本次激励对象名单进行了核查，本次符合解除 限售条件的激励对象共计 4,418 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 19,390,095 股，占公司目前总股本的 0.2079%。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 12 月 14 日。 董事会 ...

公司 2021 年限制性股票激励计划首次授予部分第四期解除限售条件达成之 日为 2025 年 6 月 15 日；经董事会薪酬与考核委员会认真核查，本次符合解除限 售条件的激励对象共计 4,418 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 19,390,095 股，占公司目前总股本的 0.2079%；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 12 月 14 日。 该项议案已经董事会薪酬与考核委员会审议通过。 证券代码：300015 股票简称：爱尔眼科 公告编号：2025-044 爱尔眼科医院集团股份有限公司 第六届董事会第三十六次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在虚假记载、 误导性陈述或者重大遗漏。 爱尔眼科医院集团股份有限公司（以下简称"公司"）第六届董事会第三十六 次会议于 2025 年 6 月 16 日以通讯表决方式召开，会议通知于 2025 年 6 月 11 ...

证券代码：300015 股票简称：爱尔眼科 公告编号：2025-046 爱尔眼科医院集团股份有限公司 关于2021年限制性股票激励计划首次授予部分第四个解除限售期 解除限售条件成就但股票暂不上市的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在虚假记载、误 导性陈述或者重大遗漏。 特别提示： 1、本次限制性股票解除限售的条件达成之日为 2025 年 6 月 15 日； 2、本次符合解除限售条件的激励对象共计 4,418 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 19,390,095 股，占公司目前总股本的 0.2079%； 3、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。因此 公司申请本次解除限售的限制性股票暂不上市，继续禁售至 2025 年 12 月 14 日。后续，公司将 向深圳证券交易所、中国证券登记结算有限责任公司深圳分公司申请办理本次解除限售股票的 手续。届时公司将另行公告，敬请投资者注意。 爱尔眼科医院集团股份有限公司（以下简称"公司"）于 ...

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首次授予部分 第四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 6 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 Viewpoint - The company emphasizes that chaotic price wars are detrimental to the sustainable development of the medical industry and will harm patient rights [1][2]. Group 1: Company Insights - Aier Eye Hospital has seen a steady recovery in the average price of refractive surgeries since last year, indicating a gradual industry clearing where demand is shifting towards reputable hospitals [1]. - The company plans to launch upgraded surgical techniques in 2024, including All-Laser LASIK and ICLV5 lenses, to meet diverse patient needs [1]. - Aier Eye Hospital's overseas business revenue is projected to account for approximately 12.5% in 2024, reflecting a 1% increase from the previous year, with plans for further expansion in Europe and Southeast Asia [3]. Group 2: Industry Trends - The aging population is driving demand for age-related eye disease treatments, particularly for presbyopia, which is currently under-recognized in China [2]. - The company anticipates significant growth potential in presbyopia treatment, similar to trends observed in developed countries [2]. - The company's profitability is expected to improve as patient volumes increase, benefiting from economies of scale and reduced sales expense ratios [3].

Core Viewpoint - The ophthalmology industry has experienced a price war in refractive surgery over the past couple of years, but the situation is expected to improve starting from Q3 2024 due to brand reputation and advancements in surgical techniques [1] Company Summary - Aier Eye Hospital (300015) indicated that the average transaction price for refractive surgeries is stabilizing and expected to rise continuously from Q3 2024 onwards, benefiting from its brand reputation and the iterative upgrade of surgical methods [1]

Group 1: Industry Trends and Challenges - The ophthalmology industry has experienced a "price war" in refractive surgery, but since Q3 2024, average transaction prices have stabilized and increased due to brand reputation and technological upgrades [1][2] - The chaotic "price war" is detrimental to sustainable development in the medical industry and harms patient rights, with stronger hospitals gaining more trust from patients [2] Group 2: Market Potential and Company Growth - Despite a decline in birth rates, the vast population and low penetration of eye care services in China indicate significant growth potential in both quantity and quality for the ophthalmology sector [3] - The company has considerable room for market share growth, driven by improvements in treatment capabilities, service quality, and technology [3] - The aging population is increasing the demand for age-related eye diseases, particularly presbyopia treatment, which has low current penetration in China but is expected to grow significantly [3][5] Group 3: International Expansion - The company is actively and cautiously expanding its overseas market presence, with overseas revenue accounting for approximately 12.5% in 2024, a 1% increase from the previous year [6] - The company has established a presence in Europe, Southeast Asia, and the United States, with plans for further acquisitions to enhance its medical network [6] Group 4: Artificial Intelligence Integration - The company has formed an AI team to leverage its extensive ophthalmology data, aiming to enhance service quality and operational efficiency through AI applications [7][8] - The goal is to create a global AI ophthalmology hospital, improving access to quality medical resources and enhancing treatment capabilities [8][9] Group 5: Financial Performance and Profitability - The company expects net profit growth to outpace revenue growth, indicating an improvement in profit margins driven by enhanced brand reputation, service quality, and operational efficiency [10] - The optimization of management systems and the increasing share of non-insured eye care services are expected to contribute to profitability [10][11] - Scale effects are anticipated to enhance gross and net profit margins as patient volumes increase [11][12]

Group 1 - The core viewpoint of the article highlights that Aier Eye Hospital's stock closed at 12.47 yuan, down 1.42%, with a rolling PE ratio of 31.38 times and a total market capitalization of 116.288 billion yuan [1] - The average PE ratio for the medical services industry is 41.83 times, with a median of 45.41 times, placing Aier Eye Hospital at the 22nd position in the industry ranking [1] - As of March 31, 2025, Aier Eye Hospital had 347,329 shareholders, a decrease of 31,805 from the previous count, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] Group 2 - Aier Eye Hospital's main business includes diagnosis and surgical services for various eye diseases, with key products being refractive projects, cataract projects, anterior segment projects, posterior segment projects, and vision services [1] - In the latest quarterly report for Q1 2025, the company achieved an operating revenue of 6.026 billion yuan, a year-on-year increase of 15.97%, and a net profit of 1.050 billion yuan, up 16.71%, with a gross profit margin of 48.02% [1]

Core Viewpoint - The ChiNext 50 Index is experiencing a strong upward trend, with significant gains in constituent stocks, indicating a positive market sentiment towards growth-oriented companies in the ChiNext sector [2][3]. Group 1: Index Performance - As of June 9, 2025, the ChiNext 50 Index (399673) rose by 1.41%, with notable increases in stocks such as Tianfu Communication (300394) up 7.03% and Tiger Medical (300347) up 5.68% [2]. - The ChiNext 50 ETF (159367) also saw a rise of 1.47%, with a latest price of 0.97 yuan, and a cumulative increase of 2.26% over the past week [2]. Group 2: Trading and Liquidity - The ChiNext 50 ETF recorded a turnover rate of 0.59% during the trading session, with a transaction volume of 24.10 thousand yuan [2]. - Over the past year, the average daily trading volume for the ChiNext 50 ETF was 538.65 thousand yuan [2]. Group 3: Return and Drawdown - Since its inception, the ChiNext 50 ETF has achieved a maximum monthly return of 3.14%, with an average monthly return of 1.79% during rising months [2]. - The relative drawdown since inception is 1.34% compared to its benchmark [2]. Group 4: Fee Structure - The management fee for the ChiNext 50 ETF is 0.15%, and the custody fee is 0.05%, which are among the lowest in comparable funds [2]. Group 5: Valuation Metrics - The ChiNext 50 Index is currently valued at a historical low with a price-to-book (PB) ratio of 4.21, which is below 81.19% of the time over the past five years, indicating attractive valuation [3]. - The index comprises 50 stocks with high liquidity and market capitalization, reflecting the overall performance of well-known companies in the ChiNext market [3]. Group 6: Top Holdings - As of May 30, 2025, the top ten weighted stocks in the ChiNext 50 Index account for 65.6% of the index, including Ningde Times (300750) at 24.47% and Dongfang Wealth (300059) at 10.62% [3][5].

Summary of Aier Eye Hospital Conference Call Company Overview - **Company**: Aier Eye Hospital - **Industry**: Healthcare Providers, specifically focused on ophthalmology - **Market Cap**: Rmb116 billion (approximately US$16.1 billion) as of May 30, 2025 [5][32] Key Points 2025 Targets and Strategy - Aier Eye Hospital aims to improve margins and average selling prices (ASPs) for its refractive business in 2025, despite not providing specific guidance due to macroeconomic uncertainties [2][3] - The company is targeting a long-term revenue contribution of 30% from overseas business, up from the current 11-13% [2] Refractive Business Performance - In Q1 2025, refractive revenue grew by 24% year-over-year, driven by both volume and price growth [3] - ASPs in the refractive business increased by over 10% YoY, attributed to upgrades in surgical types and reduced promotional discount intensity [3] - Surgical volume in Q1 2025 increased by over 10% YoY, with demand skewed towards Q1 and Q3 due to seasonal factors [3] Optometry Business Insights - Optometry revenue increased by approximately 20% YoY in Q1 2025, primarily driven by volume growth, while ASPs remained stable [4] - The transition from traditional eyeglasses to defocus lenses continues to show double-digit growth [4] - The cataract segment is facing challenges due to DRG/DIP reforms, with revenue growth impacted by price cuts from the May 2024 cataract IOL VBP [4] Financial Metrics and Valuation - The company has a 12-month price target of Rmb18.90, with a current price of Rmb12.41, indicating a potential upside of 52.3% [10][12] - The forecasted earnings per share (EPS) for 2025 is Rmb0.44, with expected growth to Rmb0.64 by 2027 [6] - Aier Eye Hospital is rated as a "Buy" by UBS, with a projected P/E ratio of 42.8x for 2025 [10] Risks and Challenges - Key risks include weak consumer spending, potential government price controls, slower-than-expected growth of acquired hospitals, and intensified competition in the ophthalmology sector [16] - The company is focusing on organic growth and the expansion of existing facilities, while also considering larger-scale M&A for international growth [4][16] Additional Insights - The company has developed a mature model for tiered chain operations and is leveraging its medical management experience to empower acquired entities [14] - The performance of the refractive and optometry business was noted to be lackluster in April, typically an off-season month, with demand expected to pick up in the summer [2][4] This summary encapsulates the key insights and financial metrics discussed during the conference call, providing a comprehensive overview of Aier Eye Hospital's current position and future outlook in the ophthalmology sector.