Core Viewpoint - The company, Haijia Medical, issued a profit warning on January 30, forecasting a revenue decline of approximately 9% to 10% for 2025, with expected revenue between 4.0 to 4.5 billion RMB, and a significant net profit drop of about 66% to 76% due to goodwill impairment [1] Group 1: Financial Performance - The company anticipates a revenue decline of 9% to 10% for 2025, projecting revenue of 4.0 to 4.5 billion RMB [1] - Net profit is expected to fall to approximately 1.4 to 2.0 billion RMB, reflecting a decline of 66% to 76% year-on-year [1] - Despite the profit warning, the company's stock price rebounded by 3.59% the following day, indicating investor confidence [1] Group 2: Market Reaction and Stock Performance - Following a significant drop in stock price since August 1, the company saw a rebound after announcing a 300 million RMB share buyback plan on December 15 [2] - The stock price continued to rise after the buyback announcement, with a notable increase of 3.78% on December 18 [2] - The stock experienced a "no volume rise" situation on January 2, confirming strong control by major funds, which set the stage for subsequent price increases [2][3] Group 3: Cash Flow and Operational Stability - The company reported a 33% to 41% increase in operating cash flow, indicating strong cash generation despite declining revenue and profit [5] - In the first half of 2025, operating cash flow reached 456 million RMB, a year-on-year increase of 29.9% [5] - The company maintained stable patient visits at 2.2 million, suggesting consistent demand for its services [7] Group 4: Strategic Outlook and Industry Position - The company is focusing on optimizing capital allocation, with a significant reduction in capital expenditures to 242 million RMB, down 28.5% year-on-year [8] - The company plans to prioritize acquisitions over new hospital constructions in the near term, with expected capital expenditures not exceeding 200 million RMB per year [8] - The ongoing consolidation in the healthcare sector due to policy changes is expected to benefit the company, positioning it as a leader in resource integration [9] Group 5: Valuation and Market Position - The company's current PE ratio stands at 16.67, below the industry average of 17.05, indicating a potentially undervalued position [11] - The company has conducted seven share buybacks in the past year, totaling 1.8836 million shares and 23.7234 million RMB in buyback value, reflecting a commitment to shareholder value [11]
年度营收、净利双降，发布盈警的海吉亚医疗(06078)却有望迎来反弹时刻？