Core Viewpoint - The company has demonstrated steady growth in revenue and net profit for Q3 2025, with an expected annual revenue growth of approximately 15% and a net profit margin of about 5% [1][2]. Financial Performance - For the first nine months of 2025, revenue increased by 14% year-on-year to RMB 3.72 billion, while net profit surged by 73% to RMB 180 million, resulting in a net profit margin increase of 1.7 percentage points to 4.9% [2]. - In Q3 2025, revenue rose by 3% year-on-year to RMB 1.22 billion, with a net profit of RMB 48.93 million, reflecting a net profit margin of 4.0% [2]. - Adjusted net profit for Q3 2025 decreased by 12% year-on-year to RMB 51.39 million, primarily due to changes in option expense amortization rather than operational inefficiencies [2]. Business Segments - The F&B segment showed robust growth, with a 21.5% year-on-year increase in revenue from both F and B end corporate health services [3]. - The number of users in home care services grew significantly, with a 41% increase in rights users by the end of Q3 2025 compared to the end of 2024 [3]. Management Changes - The company appointed new leadership, including Guo Xiaotao as Chairman and He Mingke as CEO, both of whom have extensive consulting experience and are expected to enhance collaboration with the group and expand new business models [3]. Future Projections - The company anticipates net profits of RMB 250 million, RMB 410 million, and RMB 570 million for 2025, 2026, and 2027 respectively, with a projected CAGR of 91% from 2024 to 2027 [3].
平安好医生(1833.HK)：3Q25“F+B”端增长稳健 养老服务用户数维持快速增长