Aier(SZ:300015) 2 1 Shi Ji Jing Ji Bao Dao·2026-02-06 05:27Core Viewpoint - The investigation into mental health hospitals in Xiangyang and Yichang for allegedly defrauding medical insurance funds has raised concerns about the involvement of Aier Eye Hospital and its actual controller, Chen Bang [1][2][4]. Group 1: Allegations Against Mental Health Hospitals - Multiple mental health hospitals in Xiangyang and Yichang have been accused of illegally admitting healthy individuals, fabricating treatment projects, and charging exorbitant fees, using "fake discharges" to evade regulation [1][2]. - The hospitals reportedly recruited patients under the guise of "free hospitalization" and even had internal staff impersonate patients to exploit insurance funds [2][3]. Group 2: Connection to Aier Eye Hospital - The Xiangyang Hengtai Kang Hospital, linked to the allegations, is controlled by Chen Bang, who is also the actual controller of Aier Eye Hospital [2][4]. - Aier Eye Hospital has stated that Xiangyang Hengtai Kang Hospital is not part of its corporate structure and that Chen Bang does not directly manage its operations [2][4]. Group 3: Market Reaction - Following the news, Aier Eye Hospital's stock price fell by 3.48% to 11.11 CNY per share, with a total market capitalization of 103.6 billion CNY as of February 6 [2][4]. Group 4: Regulatory Response - A joint investigation team has been established by Hubei Province to conduct an in-depth investigation into the allegations against the mental health hospitals [7]. - The National Medical Insurance Administration has announced plans for special inspections of mental health institutions this year, with strict penalties for those found violating regulations [7]. Group 5: Aier Eye Hospital's Business Overview - Aier Eye Hospital, founded in 2009, has expanded rapidly, with total revenue growing from 2.4 billion CNY in 2014 to 20.98 billion CNY in 2024, and net profit increasing from 309 million CNY to 3.56 billion CNY in the same period [12]. - The company operates 355 hospitals and 240 outpatient departments in China, along with 169 overseas eye care centers [11][12]. Group 6: Concerns and Risks - The rapid expansion of Aier Eye Hospital has led to numerous consumer complaints, with over 70 medical malpractice cases reported between 2014 and 2020 [13]. - The company's goodwill reached 8.79 billion CNY by the third quarter of 2025, significantly exceeding its fixed assets and cash reserves [14].