市公司 娱乐 == 7 2025 年 10 月 08 日 相关研究 《华厦眼科 (301267) 点评: 3Q23 业绩 符合预期,加速推进外延扩张》 2023/10/26 《华厦眼科（301267）点评：基础眼病引 领业绩高增长，2Q23 盈利能力明显提升》 2023/08/31 证券分析师 华厦眼科 (301267) 持续发展消费眼科，推进"内生+外延"战略 报告原因:强调原有的投资评级 s (维持) | 市场数据: | 2025年09月30日 | | | --- | --- | --- | | 收盘价（元） | | 19.90 | | 一年内最高/最低（元） | 29.40/17.21 | | | 市净率 | | 2.9 | | 股息率%（分红/股价） | | 1.11 | | 流通 A 股市值 (百万元) | | 6.544 | | 上证指数/深证成指 | 3,882.78/13,526.51 | | | 注："股息率"以最近一年已公布分红计算 | | | | 基础数据: | 2025年06月30日 | | --- | --- | | 每股净资产（元） | 6.96 | | 资产负债率% | 25.7 ...

——持续发展消费眼科，推进"内生+外延"战略 报告原因：强调原有的投资评级 买入（维持） | 市场数据： | 2025 年 09 月 30 日 | | --- | --- | | 收盘价（元） | 19.90 | | 一年内最高/最低（元） | 29.40/17.21 | | 市净率 | 2.9 | | 股息率%（分红/股价） | 1.11 | | 流通 A 股市值（百万元） | 6,544 | | 上证指数/深证成指 | 3,882.78/13,526.51 | | 注："股息率"以最近一年已公布分红计算 | | 上 市 公 司 医药生物 2025 年 10 月 08 日 华厦眼科 (301267) | 基础数据: | 2025 年 06 月 30 日 | | --- | --- | | 每股净资产（元） | 6.96 | | 资产负债率% | 25.77 | | 总股本/流通 A 股（百万） | 840/329 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 09-30 10-31 11-30 12-31 01-31 02-28 03-31 04-30 05-31 06- ...

错填"小数点" 本是发布一份亮丽的业绩预告，美丽田园却搞了一份"乌龙"。 美丽田园发布的业绩预告显示，截至2025年6月30日六个月之未经审核综合管理账目之初步评估及董事会现时可得资料， 预计收入不少于人民币14.5亿元，较2024年同期相比增长不少于27%；经调整净利润不少于人民币17.5百万元，较2024年同期 相比增长不少于33%；净利润不少于人民币17百万元，较2024年同期相比增长不少于35%。 对于业绩变化，美丽田园方面表示，一方面是持续精进"双美+双保健"的商业模式，高毛利业务收入占比提升，带动公司 收入结构持续优化，推动毛利率水平提升；另外，公司坚定执行"内生增长+外延扩张"双轮驱动战略，带动公司规模增长和市 场占有率不断提升，同时规模效应推动净利率水平持续提升。 本报记者 梁傲男 作为投资者了解企业运营状况、做出投资决策的关键信息窗口，上市公司公告本应秉持严谨、准确、负责的态度进行披 露。然而，仍有部分上市公司在披露数据时状况频出，小数点错位、单位混淆等低级错误屡见不鲜，暴露出相关公司在信息披 露工作上的严谨性不足。 《证券日报》记者梳理今年以来出现"乌龙"数据的上市公司时注意到，在香港资本 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][6] Core Views - The company's performance is under short-term pressure, but the consumer ophthalmology sector shows steady growth [1][6] - The company is a large ophthalmology medical chain group integrating medical education and research, achieving stable growth through "internal growth + external mergers" [6] Financial Performance Summary - In 2024, the company achieved total revenue of 4,027 million yuan, a year-on-year increase of 0.35%, and a net profit attributable to the parent company of 428.64 million yuan, a year-on-year decrease of 35.63% [6][7] - For Q1 2025, the company reported revenue of 1,093 million yuan, a year-on-year increase of 11.74% and a quarter-on-quarter increase of 29.34%, with a net profit of 150 million yuan, a year-on-year decrease of 4.00% [6][7] - The company's gross profit margin for 2024 was 44.19%, and for Q1 2025, it was 44.97%, showing a decline compared to the previous year [6][7] Business Segment Performance - The cataract project generated revenue of 873 million yuan in 2024, a year-on-year decrease of 11.56%, while the refractive project achieved revenue of 1,296 million yuan, a year-on-year increase of 7.44% [6][7] - The company expects improvements in the refractive surgery business's unit price and gross margin due to the promotion of new technologies [6] Employee Incentives - The company announced an employee stock ownership plan to motivate core personnel, with a total of 752.78 million shares available for purchase at a price of 9.26 yuan per share [6] Profit Forecasts - The revised profit forecasts for 2025-2027 are net profits of 5.15 billion yuan, 6.05 billion yuan, and 6.97 billion yuan, respectively [6][7]

Core Viewpoint - The annual report of Zhichun Technology (603690) for 2024 indicates a revenue growth of 14.40% year-on-year, with total revenue reaching 3.605 billion yuan and a net profit attributable to shareholders of 23.5975 million yuan [1] Group 1: Financial Performance - In 2024, Zhichun Technology achieved a total new order amount of 5.577 billion yuan, with long-term orders (over 5 years) totaling 117 million yuan [1][3] - The company's R&D investment reached 442 million yuan in 2024, significantly up from 13 million yuan in 2017, with cumulative R&D investment exceeding 1.5 billion yuan over the past five years [1] Group 2: Market Position and Strategy - Zhichun Technology has established the first fully domestically produced 12-inch wafer gas station for 28nm processes, breaking the international suppliers' monopoly [2] - The company has built a production and service base of 420,000 square meters, with an additional 48,700 square meters under construction, supporting its strategic goals [2] Group 3: Order Growth and Client Base - The new orders in 2024 saw a growth of 17.88% compared to 2023, with 84.55% of the new orders coming from the integrated circuit industry, and 88.46% of these orders serving 12-inch integrated circuit clients [3] - The company is expanding its innovation map towards the entire semiconductor industry chain, implementing a LAB2FAB strategy to enhance collaboration between technology research and industry [3] Group 4: Mergers and Acquisitions - Zhichun Technology is planning a strategic acquisition of Weidun Crystal Phosphorus, a leading domestic semiconductor material supplier, which could enhance product synergy and extend its business into critical consumables in semiconductor manufacturing [4] - The management has also developed plans to reduce operating costs and improve cash flow through better resource allocation and receivables management [4]

Group 1: Corporate Control Change - The actual controller of Kailong Co., Ltd. has changed following the completion of a share transfer, with Hubei Provincial State-owned Assets Supervision and Administration Commission becoming the actual controller through Changjiang Industrial Group [1] - The share transfer involved Changjiang Industrial Group acquiring 75% of Zhongjing Group's shares from the Jingmen Municipal Government's State-owned Assets Supervision and Administration Commission for a transaction price of 2.776 billion yuan [1] - This transition marks Kailong Co., Ltd.'s elevation from a local state-owned enterprise to a provincial strategic platform, potentially enhancing its financing capabilities and industry integration opportunities [1] Group 2: Financial Performance - In the 2024 annual report, Kailong Co., Ltd. reported an operating income of 3.686 billion yuan and a net profit attributable to shareholders of 148 million yuan, with a net cash flow from operating activities of 402 million yuan [2] - Total assets reached 8.058 billion yuan, reflecting a 7.97% increase from the previous year, while equity attributable to shareholders surged by 61.19% to 2.533 billion yuan [2] - The company declared a cash dividend of 1 yuan for every 10 shares to all shareholders [2] Group 3: Industry Outlook - The civil explosives industry is experiencing a positive trend, with industrial explosive production showing slight growth and profits continuing to rise [3] - Kailong Co., Ltd. has expanded its civil explosive production capacity in Xinjiang to 60,100 tons, increasing its market share and successfully executing its first blasting project in the region [3] - The company aims to leverage the improving industry conditions through a dual strategy of organic growth and external acquisitions to capture market opportunities [3]