Core Insights - The company reported a stable performance in the first three quarters of 2025, with revenue of 2.201 billion yuan (+2.99%) and a net profit attributable to shareholders of 16 million yuan (+3.21%) [1] - The third quarter alone saw revenue of 741 million yuan (+3.48%) and a significant increase in net profit attributable to shareholders, reaching 1.68 million yuan (+106.13%) [1] Revenue and Profit Analysis - Revenue growth has slowed due to changes in consumer demand for medical services amid a complex macroeconomic environment [2] - The company's refractive business remains a significant revenue contributor, with efforts to enhance customer spending through new surgical techniques [2] - The gross profit margin for the first three quarters was 37.12%, showing a slight decline, potentially linked to changes in product revenue structure [2] Cost Management and Profitability - The company increased its IT investment, with a research and development expense ratio of 0.37%, up by 0.14 percentage points year-on-year [2] - Management expense ratio decreased from 14.67% to 10.85%, attributed to a slowdown in the company's expansion pace [2] - The non-recurring net profit attributable to shareholders improved to 25 million yuan (+34.71%) [2] Strategic Focus - The company is shifting its strategic focus towards organic growth and operational efficiency, with a significant reduction in ongoing construction projects by 74.40% compared to the beginning of the year [3] - Investment cash outflows for fixed asset purchases decreased by 66.74%, indicating a pause in large-scale expansion [3] - The introduction of new technology, such as the VisuMax 800, aims to strengthen the company's competitive edge in the refractive sector [3] Future Outlook - The company expects new hospitals to enter a profit ramp-up phase, with projected net profits for 2025-2027 at 33 million, 126 million, and 174 million yuan respectively [3] - The estimated earnings per share (EPS) for the same period are projected to be 0.22, 0.84, and 1.16 yuan [3] - A target price of 42.05 yuan is set based on a 50 times PE valuation for 2026, maintaining a "recommended" rating [3]

Group 1 - The core point of the news is that Purui Eye Hospital Group's stock price increased by 5.07% to 38.77 CNY per share, with a total market capitalization of 5.801 billion CNY as of the report date [1] - Purui Eye Hospital, established on March 23, 2006, and listed on July 5, 2022, provides comprehensive ophthalmic medical services, including diagnosis, treatment, and optical services [1] - The revenue composition of Purui Eye Hospital includes: refractive projects 49.36%, cataract projects 19.77%, comprehensive eye disease projects 16.65%, optical projects 13.03%, and other services 1.18% [1] Group 2 - From the perspective of major shareholders, Rongtong Fund's health industry flexible allocation mixed fund A/B (000727) reduced its holdings by 192,500 shares in the third quarter, now holding 2.4 million shares, accounting for 1.69% of the circulating shares [2] - The fund has achieved a return of 13.2% year-to-date, ranking 5439 out of 8219 in its category, and a return of 2.01% over the past year, ranking 7380 out of 8125 [2] - The fund manager, Wan Minyuan, has a tenure of 9 years and 79 days, with the fund's total asset size at 5.957 billion CNY and a best return of 139.91% during his tenure [3] Group 3 - The Rongtong health industry flexible allocation mixed fund A/B (000727) has Purui Eye Hospital as its eighth largest holding, with the stock accounting for 3.62% of the fund's net value [4] - The fund's floating profit from its holdings in Purui Eye Hospital is approximately 4.488 million CNY as of the report date [4]

Core Viewpoint - On November 7, 2023, Puri Eye Hospital's stock decreased by 0.22%, with a trading volume of 27.86 million yuan, indicating a relatively stable market performance despite minor fluctuations [1] Financing Summary - On November 7, Puri Eye Hospital had a financing buy-in amount of 3.47 million yuan and a financing repayment of 3.18 million yuan, resulting in a net financing buy-in of 0.28 million yuan [1] - The total financing and securities balance as of November 7 was 72.47 million yuan, with the financing balance at 71.80 million yuan, accounting for 1.30% of the circulating market value, which is below the 10th percentile level over the past year, indicating a low financing level [1] - The securities lending data showed a repayment of 100 shares with no shares sold, and a remaining securities lending balance of 67.53 million yuan, which is above the 60th percentile level over the past year, indicating a relatively high level of securities lending [1] Business Performance - As of September 30, 2023, Puri Eye Hospital reported a total revenue of 2.20 billion yuan for the first nine months of 2023, reflecting a year-on-year growth of 2.99% [2] - The net profit attributable to the parent company for the same period was 16.35 million yuan, showing a year-on-year increase of 3.21% [2] - The company has distributed a total of 74.51 million yuan in dividends since its A-share listing [3] Shareholder Information - As of September 30, 2023, the number of shareholders for Puri Eye Hospital was 10,400, a decrease of 1.98% from the previous period, while the average circulating shares per person increased by 104.71% to 13,608 shares [2] - Among the top ten circulating shareholders, the Rongtong Health Industry Flexible Allocation Mixed A/B Fund held 2.40 million shares, a decrease of 192,500 shares from the previous period, while the Yuanxin Yongfeng Medical Health A Fund entered the top ten with 2.02 million shares [3]

证券代码：301239 证券简称：普瑞眼科 公告编号：2025-053 普瑞眼科医院集团股份有限公司 关于董事会换届完成并聘任高级管理人员、证券事务代表的公告 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。 普瑞眼科医院集团股份有限公司（以下简称"公司"）于 2025 年 11 月 4 日召开 2025 年第一次临时股东会，完成了董事会的换届选举。同日，公司召开 了第四届董事会第一次会议，审议通过了选举董事长、董事会各专门委员会和聘 任高级管理人员及证券事务代表的相关议案。现将有关情况公告如下： 一、公司第四届董事会组成情况 1．非独立董事：徐旭阳先生（董事长）、曹长梁先生、侯乒先生。 2．独立董事：汤华东先生、邹欢先生。 3．董事会各专门委员会情况： （3）提名委员会：汤华东（主任委员）、邹欢、侯乒 （4）薪酬与考核委员会：邹欢（主任委员）、汤华东、徐旭阳 公司第四届董事会由以上五名董事组成，任期自 2025 年第一次临时股东会 审议通过之日起三年。 公司第四届董事会成员的任职资格均符合《中华人民共和国公司法》（以下 简称"《公司法》"）《深圳证券交易所上市 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于普瑞眼科医院集团股份有限公司 2025 年第一次临时股东会的 法律意见书 国枫律股字[2025]A0526 号 致：普瑞眼科医院集团股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司 2025 年第一次临时股东会（以下简称"本次会议"）。 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》"）、《上市公司股东会规则》（以下简称 "《股东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《证券法律 业务管理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简称"《证券法 律业务执业规则》"）等相关法律、行政法规、规章、规范性文件及《普瑞眼科医院集团 股份有限公司章程》（以下简称"《公司章程》"）的规定，就本次会议的召集与召开程 序、召集人资格、出席会议人员资格、会议表决程序及表决结果等事宜 ...

证券代码：301239 证券简称：普瑞眼科 公告编号：2025-051 普瑞眼科医院集团股份有限公司 2025年第一次临时股东会决议公告 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。 特别提示： 1．本次股东会不存在否决议案的情形； 2．本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席的情况 （一）会议召开情况 1．会议召开时间 （1）现场会议时间：2025年11月4日（星期二）15:30； （2）网络投票时间 其中，通过深圳证券交易所交易系统进行网络投票的时间为：2025年11月4 日9:15-9:25、9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系 统进行网络投票的时间为：2025年11月4日9:15-15:00。 2．现场会议召开地点：上海市长宁区茅台路899号6楼会议室。 1．出席会议的股东及股东授权委托代表情况如下： | | | | 代表有表决权股 | 占公司有表决 | | --- | --- | --- | --- | --- | | | | 人数/人 | 份数/股 | 权股份总数的 比例 | | 出 ...

证券代码：301239 证券简称：普瑞眼科 公告编号：2025-052 普瑞眼科医院集团股份有限公司 第四届董事会第一次会议决议公告 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。 一、董事会会议召开情况 普瑞眼科医院集团股份有限公司（以下简称"公司"）于2025年11月4日召 开2025年第一次临时股东会选举产生公司第四届董事会成员。根据《公司章程》 有关规定，经第四届董事会全体董事同意豁免会议提前三日通知的要求，在公 司2025年第一次临时股东会选举产生第四届董事会成员后，第四届董事会第一 次会议通知于2025年11月4日以现场通知、电话等形式送达至全体董事，会议于 2025年11月4日以现场结合通讯方式召开。本次会议应出席董事5人，实际出席 董事5人。会议由过半数董事推举董事徐旭阳先生主持。本次会议的召集、召开 和表决程序符合《中华人民共和国公司法》（以下简称"《公司法》"）等法 律、法规、规范性文件以及《公司章程》的有关规定。 二、董事会会议审议情况 经与会董事认真审议，表决了以下议案： （一）审议通过《关于选举公司第四届董事会董事长的议案》 经审议， ...

Core Viewpoint - Puri Eye Hospital, a well-known ophthalmology chain in China, is facing challenges in revenue growth and profit margins due to industry reforms and low demand for eye care services, but it is expected to see revenue growth in the latter half of 2025 as new facilities begin to contribute to performance [6][7]. Group 1: Company Overview - Puri Eye Hospital was established on March 23, 2006, and went public on July 5, 2022, on the Shenzhen Stock Exchange, with its registered office in Sichuan Province and operational office in Shanghai [1]. - The company provides comprehensive ophthalmic medical services, including diagnosis, treatment, healthcare, and optical services [1]. Group 2: Financial Performance - For Q3 2025, Puri Eye Hospital reported revenue of 2.201 billion yuan, ranking 7th among 15 companies in the industry, while the industry leader, Aier Eye Hospital, reported revenue of 17.484 billion yuan [2]. - The net profit for the same period was 21.5885 million yuan, placing it 9th in the industry, with Aier Eye Hospital leading at 3.367 billion yuan [2]. Group 3: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 53.52%, higher than the industry average of 46.74%, indicating significant debt pressure [3]. - The gross profit margin was 37.12%, which, despite being lower than the previous year's 39.50%, remains above the industry average of 31.10%, suggesting a competitive profitability position [3]. Group 4: Management Compensation - The chairman, Xu Xuyang, received a salary of 610,600 yuan in 2024, a decrease of 28,400 yuan from 2023 [4]. - The general manager, Sun Qiang, earned 949,700 yuan in 2024, an increase of 57,200 yuan from the previous year [4]. Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 1.98% to 10,400, while the average number of shares held per shareholder increased by 104.71% to 13,600 [5]. - Notable changes in the top ten circulating shareholders included a decrease in shares held by Rongtong Health Industry Flexible Allocation Mixed A/B and the entry of Yuanxin Yongfeng Medical Health A as a new shareholder [5]. Group 6: Industry Challenges and Outlook - The company faces challenges from DRG/DIP payment reforms and low growth in consumer demand for eye care services, leading to weak revenue growth and compressed profit margins in H1 2025 [6]. - However, new facilities are expected to start contributing positively to revenue in the latter half of 2025, with projected revenues of 2.735 billion yuan, 2.948 billion yuan, and 3.168 billion yuan for 2025 to 2027, respectively [6]. - The company is maintaining a "buy" rating based on the steady growth of its refractive services and the performance of its comprehensive eye disease projects [6][7].

证券代码：301239 证券简称：普瑞眼科 公告编号：2025-050 普瑞眼科医院集团股份有限公司 关于召开2025年第一次临时股东会的提示性公告 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。 普瑞眼科医院集团股份有限公司（以下简称"公司"或"本公司"）根据 第三届董事会第三十三次会议决议，决定于2025年11月04日（星期二）采用现 场表决与网络投票相结合的方式召开2025年第一次临时股东会。《关于召开 2025年第一次临时股东会的通知》（公告编号：2025-045）已于2025年10月18 日在巨潮资讯网（www.cninfo.com.cn）披露。现将本次股东会有关事项提示如 下： 一、召开会议的基本情况 1、股东会届次：2025年第一次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易 所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第2号——创 业板上市公司规范运作》等法律、行政法规、部门规章、规范性文件及《公司 章程》的有关规定。 4、会议时间： （1）现场会议时间：2025年11 ...

Core Insights - The report indicates that as of October 27, 2025, institutional investors hold a total of 79.6696 million shares of Puri Eye Hospital (301239.SZ), accounting for 53.25% of the company's total share capital, with a decrease of 1.08 percentage points compared to the previous quarter [1] Group 1: Institutional Holdings - A total of 9 institutional investors have disclosed their holdings in Puri Eye Hospital, with the largest being Chengdu Puri Century Investment Co., Ltd. and several Shanghai-based investment partnerships [1] - The combined institutional holding percentage has decreased from the previous quarter, indicating a slight reduction in institutional confidence [1] Group 2: Public Fund Holdings - One public fund, Yuanxin Yongfeng Medical Health A, increased its holdings by 0.72% compared to the previous period [2] - Conversely, another public fund, Rongtong Health Industry Flexible Allocation Mixed A/B, saw a decrease in holdings by 0.13% [2] - A total of 152 public funds did not disclose their holdings this quarter, including notable funds such as Yuanxin Yongfeng Ju You A and Bosera Healthcare Mixed A [2]