Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [4]. Core Insights - The overall revenue scale continues to grow, with outpatient revenue increasing at a faster pace. The company's strength in comprehensive cancer treatment is continuously enhancing. In 2024, total revenue is projected to be 4.446 billion yuan, representing a year-on-year growth of 9.0%. The main hospital business revenue is expected to reach 4.322 billion yuan, up 11.1% year-on-year [3][4]. - The company is actively expanding its treatment projects, particularly in oncology, improving treatment methods, and enhancing management efficiency. By the end of 2024, the company completed 96,993 surgeries, a year-on-year increase of 15.8%, with surgical revenue growing by 21.2% [3]. - The report adjusts the net profit forecasts for 2025 and 2026 downwards due to unexpected impacts from uncollected medical insurance income and the company's self-built planning. The expected net profit for 2027 is projected at 891 million yuan, corresponding to a price-to-earnings (P/E) ratio of 12/11/9 times [4]. Financial Summary - In 2024, the company is expected to achieve total revenue of 4.446 billion yuan, with a year-on-year growth of 9.04%. The net profit attributable to the parent company is projected to be 598.26 million yuan, a decrease of 12.40% year-on-year [9]. - The company has been expanding its physician scale and increasing patient visits, with approximately 4.5 million visits in 2024, a year-on-year increase of 23.8% [9]. - The company's financial metrics indicate a projected EPS of 0.97 yuan for 2024, with a P/E ratio of 13.84 [10].
海吉亚医疗（06078）：2024年年报点评：整体业绩承压，有望逐步企稳改善