前三季度营收同比增10.59%，盈康生命高质量发展韧性凸显

Core Insights - The company reported a revenue of 1.358 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 10.59% [1] - Net profit reached 93.807 million yuan, up 12.75% year-on-year, while the net profit attributable to shareholders was 86.839 million yuan, growing by 5.20% [1] - The company’s non-recurring net profit attributable to shareholders increased by 12.53% year-on-year, indicating strong operational resilience [1] Financial Performance - The company’s operating cash flow has shown continuous improvement, with a net cash flow from operating activities of 68.68 million yuan in Q1, increasing to 79.94 million yuan in Q2 (a growth of over 16.4%), and reaching 99.11 million yuan in Q3 (a growth of 23.97%) [2] - The total net cash flow for the first three quarters amounted to 248 million yuan, providing a solid financial foundation for future development [2] Strategic Focus - The company is focused on building a comprehensive pre-diagnosis and treatment ecosystem, particularly in oncology, supported by AI integration [3] - The company is advancing its oncology ecosystem and differentiating its services while enhancing its competitive edge through continuous AI empowerment [3] - The overseas revenue grew by 35% year-on-year, driven by a targeted strategy for international markets [3] Industry Context - The private hospital sector is facing challenges such as slower recovery in treatment demand, stricter medical insurance controls, high operational costs, and increased public hospital bed capacity [1] - The company’s AI-driven approach positions it favorably within the healthcare industry, allowing it to maintain a steady growth trajectory despite industry challenges [3]