TC Medical(SH:600763) Sou Hu Cai Jing·2025-10-23 09:43Core Viewpoint - Tongce Medical (600763) reported a slight decline in stock price, with a total market value of 18.871 billion yuan as of October 23, 2025, and announced its semi-annual performance results for 2025, showing modest growth in key financial metrics [1]. Financial Performance - In the first half of 2025, outpatient visits reached 1.7322 million, an increase of 1.21% year-on-year [1]. - Revenue for the period was 1.448 billion yuan, reflecting a year-on-year growth of 2.68% [1]. - The net profit attributable to shareholders was 321 million yuan, up 3.67% compared to the previous year [1]. - The net profit excluding non-recurring items was 317 million yuan, representing a year-on-year increase of 3.9% [1]. - The net cash flow from operating activities was 355 million yuan, showing a growth of 9.7% year-on-year [1]. Business Operations - The company operates 89 medical institutions with 4,452 professional medical personnel and over 3,100 dental chairs [1]. - Medical service revenue in Zhejiang Province reached 1.22 billion yuan, growing by 2.6% [1]. - The gross profit margin was 40.75%, and the net profit margin was 26.26% [1]. - Orthodontic business grew by 7.75%, while pediatric services accounted for 17.6% of total revenue [1]. - Revenue from Loudi Dental Hospital increased by 7% year-on-year [1]. Strategic Developments - The company has completed supply chain integration, leading to a continuous decline in material costs [1]. - The Shanghai branch is expected to open by the end of the year, with plans to establish five new branches in 2025 [1]. - High labor costs are being managed through the development of a physician training program and enhancing diagnostic efficiency [1].