INKON Life(SZ:300143) Xin Lang Zheng Quan·2025-10-31 09:19Core Viewpoint - Yingkang Life is a leading professional radiation therapy service platform in China, focusing on medical devices and services related to oncology treatment [1] Group 1: Company Overview - Yingkang Life was established on August 6, 1998, and listed on the Shenzhen Stock Exchange on December 9, 2010, with its registered and office addresses in Qingdao, Shandong Province [1] - The company specializes in the research, production, and sales of large medical equipment, including the Maxip radiation therapy device, and is building a tumor service network through its medical services [1] Group 2: Financial Performance - For Q3 2025, Yingkang Life reported revenue of 1.358 billion yuan, ranking 9th in the industry, while the industry leader, Aier Eye Hospital, reported 17.484 billion yuan [2] - The net profit for the same period was 93.807 million yuan, ranking 4th in the industry, with the top performer, Aier Eye Hospital, achieving 3.367 billion yuan [2] Group 3: Financial Ratios - As of Q3 2025, Yingkang Life's debt-to-asset ratio was 38.53%, down from 42.96% year-on-year and below the industry average of 46.74%, indicating strong solvency [3] - The gross profit margin for the same period was 26.78%, an increase from 26.16% year-on-year but still below the industry average of 31.10% [3] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 3.22% to 19,800, while the average number of circulating A-shares held per household increased by 3.33% to 32,300 [5] Group 5: Growth Prospects - The company is expected to achieve revenues of 1.821 billion, 2.114 billion, and 2.308 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 16.8%, 16.1%, and 9.2% [5] - The projected net profits for the same years are 136 million, 161 million, and 188 million yuan, with year-on-year growth rates of 18.1%, 18.4%, and 16.5% [5] - The company is focusing on enhancing its oncology service capabilities and expanding its overseas market presence, with significant contributions from its medical services and medical devices segments [6]