Core Viewpoint - Haijia Medical (06078) has seen a stock price increase of over 5%, currently at HKD 14.73, with a trading volume of HKD 87.87 million, following the release of its 2025 performance forecast [1] Financial Performance - For the second half of 2025, the company is expected to achieve revenue between RMB 20.1 billion and RMB 20.6 billion, representing a year-on-year decline of 0% to 3% [1] - Adjusted net profit is projected to be approximately RMB 1.88 billion to RMB 2.28 billion, reflecting a year-on-year change of -7% to +13% [1] - Operating cash flow is anticipated to grow by 36% to 53% year-on-year [1] Market Outlook - The company's hospitals are evenly distributed across the country, and revenue growth is expected to stabilize in 2025 [1] - For 2026, the impact of DRGs payment reform on average hospitalization costs is expected to diminish, potentially leading to positive revenue growth [1] Analyst Insights - Citic Securities believes that despite the earnings warning, the decline in performance has likely bottomed out [1] - The second half of 2025 is expected to see a 2% year-on-year revenue decline, with adjusted net profit anticipated to recover by 3%, indicating improving profitability resilience [1] - Key growth drivers for 2026 include expanding non-national health insurance directory revenue, enhancing existing hospital utilization rates, and reducing debt levels to improve operational leverage and restore profit margins [1]
海吉亚医疗午前涨超5% 25年下半年公司收入同比增速企稳 盈利韧性正在提升