Core Viewpoint - The stock price of Gaoshi Medical (02407) has experienced fluctuations following its removal from the Hong Kong Stock Connect list, with a significant increase of 65.50% from May to September last year, but has since faced a decline of nearly 20% since December 22, raising questions about its upcoming performance in the 2025 annual report [1][2]. Group 1: Stock Performance - After being removed from the Hong Kong Stock Connect list, Gaoshi Medical's stock price initially rose, achieving a monthly "four consecutive increases" [1]. - The stock price saw a cumulative increase of 65.50% from May to September last year, but began a three-month period of sideways movement starting in mid-September [1]. - Since December 22, the stock has declined nearly 20%, effectively reversing all gains made since the mid-year report [1]. Group 2: Market Dynamics - On March 10, the adjustment of the Hong Kong Stock Connect list led to an average stock price drop of 14.24% for the excluded stocks, with Gaoshi Medical being one of them [1]. - Despite the stock's removal, the proportion of shares held by Hong Kong Stock Connect investors has only decreased by 3% over the past 10 months, indicating limited selling pressure [2]. - The liquidity of Gaoshi Medical's stock has noticeably decreased post-removal, with monthly trading volumes dropping by 84.39% from February to April last year [4]. Group 3: Financial Performance - In 2024, Gaoshi Medical reported revenues of 1.428 billion yuan, a year-on-year increase of 1.6%, but net profit fell by 46.75% to 92.394 million yuan due to factors like currency fluctuations and goodwill impairment [7]. - The company has been attempting to adjust its business structure by increasing the proportion of self-owned products, but the revenue from agency products rebounded to 68.55% in 2024 [8]. - In the first half of 2025, Gaoshi Medical achieved revenues of 653 million yuan, a 1.7% increase year-on-year, with a gross profit margin of 48.3%, reflecting an improvement [9]. Group 4: Future Outlook - Analysts project that Gaoshi Medical's revenues will grow to 1.564 billion, 1.715 billion, and 1.875 billion yuan from 2025 to 2027, with corresponding net profits of 135 million, 180 million, and 214 million yuan [9]. - Following the release of the mid-year report, Gaoshi Medical's stock price surged by 19.31% over two days, indicating positive market sentiment towards its performance [9]. - The current trading volume and price movements suggest that the stock may be nearing a bottom, with potential for recovery as market conditions improve [10].
出通近一年已陷流动性泥潭，高视医疗急需亮眼财报“救场”？