Core Viewpoint - Hai Jiaya Medical (06078.HK) reported a significant decline in revenue and net profit for the year ending December 31, 2025, primarily due to macroeconomic factors and local healthcare policy adjustments [4][5]. Financial Performance - The company achieved revenue of RMB 4.009 billion, a year-on-year decrease of 9.8% - Net profit fell sharply by 73.0% to RMB 162 million, largely due to a RMB 283 million impairment and provision related to Etern Group Ltd. - Despite profit pressures, operating cash flow reached a record high of RMB 950 million, up 34.4% year-on-year - The company's interest-bearing debt decreased by RMB 343 million, a decline of 12.3% [4][5]. Business Development - The core oncology business showed stability, with over 102,000 surgeries performed, and the proportion of high-level surgeries increased by 6.4 percentage points year-on-year - The international medical business made significant progress, with Chongqing Hai Jiaya Hospital providing services to patients from Southeast Asia and opening a two-story ward - The company plans to replicate its international medical business model in more suitable hospitals, expanding into areas such as early cancer screening and comprehensive treatment [6]. Network Expansion and Technology Integration - As of March 2026, the company managed or operated 17 comprehensive hospitals focused on oncology, with one additional tertiary hospital under construction - The company is actively exploring AI applications in medical scenarios, including AI-assisted personalized precision radiotherapy and imaging diagnosis - AI technology is also being utilized in supply chain and financial management to optimize inventory and enhance efficiency, along with the launch of an AI customer service system for patient engagement [7][8].
【海吉亚医疗（6078.HK）】减值拖累利润，静待26年复苏——2025年业绩点评（吴佳青）