收购重庆新里程，控股股东资产注入打响“第一枪”

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 3.37 CNY over the next six months [6][11]. Core Viewpoints - The acquisition of Chongqing New Mile marks the first step in the injection of quality assets by the controlling shareholder, which is expected to enhance the company's performance and expand its medical service network in the Southwest region [4][10]. - The acquisition price of 320 million CNY is considered reasonable, with the target company generating a revenue of 315 million CNY in 2023 and a projected revenue growth of double digits over the next five years [4][5]. - The company aims to build a regional medical group in the Chongqing area with a target revenue of 800-1,000 million CNY within three years [5][10]. Summary by Sections Acquisition Details - The company announced the acquisition of 100% equity in Chongqing New Mile Medical Management Co., Ltd. for 320 million CNY, which includes four hospitals with a total of over 1,000 beds [3][4]. - The revenue for Chongqing New Mile in the first seven months of 2024 was 204 million CNY, with net profits of 7.43 million CNY excluding supply chain and 9.99 million CNY including supply chain [4]. Financial Projections - The projected revenues for the company from 2024 to 2026 are 4.01 billion CNY, 4.40 billion CNY, and 4.83 billion CNY, respectively, with net profits expected to be 1.22 billion CNY, 2.24 billion CNY, and 3.00 billion CNY [11][12]. - The company anticipates a significant increase in profitability due to the injection of quality medical assets from the controlling shareholder [11]. Market Position and Growth Potential - The company is positioned to benefit from improved market conditions and policies that favor mergers and acquisitions, which could lead to accelerated asset injections from the controlling shareholder [10][11]. - The company has a total market capitalization of approximately 8.79 billion CNY and a circulating market capitalization of about 8.48 billion CNY [6].