明基医院：再度冲击港股上市 募资加码东南亚并购与智慧医院建设

Core Viewpoint - The company is planning to expand and upgrade its existing hospitals, focusing on enhancing operational capacity and quality through new construction and advanced medical equipment acquisition [1] Expansion and Upgrades - The company intends to implement the second phase of Nanjing Mingji Hospital's construction and acquire advanced medical equipment, as well as the third and fourth phases of Suzhou Mingji Hospital's construction [1] - The company aims to enhance its operational capabilities and quality through these expansions [1] Investment and Acquisition Opportunities - The company plans to identify suitable acquisition targets in China (e.g., Guigang City, Guangxi) and Southeast Asia (Vietnam and Malaysia), particularly targeting comprehensive hospitals with 200 to 500 beds, 100 to 200 medical professionals, and at least two key departments, especially in surgery and oncology [1] Smart Hospital Upgrades - The company plans to enhance its technical infrastructure by establishing local and cloud data storage servers, deploying 5G technology, and improving internal medical data transmission speed [1] - Investments will be made in technology research and development, focusing on advanced data security, privacy protection technologies, and artificial intelligence [1] - The establishment of a medical database and clinical decision support system is planned to facilitate quick information retrieval, optimize case discussions, and support clinical teaching and research [1] Financial Performance - In 2024, the company achieved a revenue of 2.659 billion yuan, a year-on-year decrease of 1.07%, and a net profit of 109 million yuan, down 34.95% [2] - For the first half of 2025, the company reported a revenue of 1.312 billion yuan, a decline of 1.34%, and a net profit of 48.704 million yuan, down 23.18% [3] - The operating cash flow for 2024 was 258 million yuan, a decrease of 27.92%, while for the first half of 2025, it was 80.129 million yuan, down 52.05% [2][3] Asset and Liability Changes - As of June 30, 2025, the company's fixed assets increased by 6.45%, while inventory decreased by 20.82% [16] - Long-term borrowings increased by 35.64%, and short-term borrowings rose by 10.83% [19]