GZYK(SZ:002524) Xin Jing Bao·2025-04-24 08:59Core 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].