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新里程董事长林杨林解除留置 公司旗下医院超20家
Jing Ji Guan Cha Wang· 2025-09-23 10:02
Core Viewpoint - New Mile (002219.SZ) announced the release of its chairman Lin Yanglin from detention, which began in July due to an investigation by the Taiyuan Municipal Xiaodian District Supervisory Committee. The company stated that the matters involved are unrelated to its operations [1][2]. Company Overview - New Mile focuses on medical services and traditional Chinese medicine, operating a "1+N" innovative service model based on tertiary hospitals and a new elderly care model combining elderly hospitals and care centers. As of mid-2023, the company has established six regional medical centers and operates 24 hospitals, including 4 tertiary hospitals and 13 secondary or higher-level hospitals [2]. - The company produces a series of traditional Chinese medicines under the "Duyiwei" brand, with 80 varieties including Duyiwei capsules and tablets, primarily used for post-surgical pain and other conditions [2]. Recent Developments - Lin Yanglin was previously subjected to regulatory discussions by the Gansu Securities Regulatory Bureau due to multiple financial accounting irregularities, which resulted in inaccurate financial disclosures for several reporting periods. Both Lin and the financial director Liu Jun were held primarily responsible for these violations [3]. - In the first half of 2023, New Mile reported a significant decline in performance, with revenue of 1.588 billion yuan, down 20.63% year-on-year, and a net profit of 7.4311 million yuan, down 88.25% year-on-year, attributed to the impact of medical insurance policies and centralized procurement of traditional Chinese medicine [3]. Financial Performance - The company experienced a decrease in inpatient visits and average costs due to ongoing adjustments in medical insurance payment policies, although gross margin improved by 1 percentage point. The gross margin for the pharmaceutical segment was 40.47%, with a 4.7 percentage point decline in gross margin for core products following centralized procurement [4]. - New Mile's hospitals maintained stable outpatient volumes, but inpatient volumes decreased by approximately 9%, and average inpatient costs fell by about 12% [4]. Future Outlook - The company aims to become the "first stock in the silver economy," aligning its health industry strategy with national policies addressing population aging. The implementation of integrated medical and elderly care models is a long-term strategic choice for the company [4].
新里程(002219):"1+N"医疗模式持续推进
Xin Lang Cai Jing· 2025-05-08 12:35
Core Insights - The company reported a significant increase in cash flow for 2024, with a notable rise in net profit, while Q1 2025 performance faced slight pressure [1][2] Financial Performance - In 2024, the company achieved operating revenue of 3.799 billion, a year-on-year decrease of 2.95%, and a net profit attributable to shareholders of 115 million, a year-on-year increase of 296.13% [1] - The operating cash flow for 2024 increased by 36.64% to 439 million [2] - For Q1 2025, the company reported operating revenue of 796 million, a year-on-year decrease of 16.49%, and a net profit attributable to shareholders of 26 million, a year-on-year decrease of 9.35% [2] Cost Management - In 2024, the company optimized management expenses, with a sales expense ratio of 7.75%, up 2.07 percentage points year-on-year, and a management expense ratio of 13.70%, down 3.43 percentage points year-on-year [2] - The overall expense ratio remained stable in Q1 2025, with a gross margin of 27.96%, down 0.84 percentage points year-on-year [2] Healthcare Services Expansion - The company is expanding its healthcare services with new bed releases, including the opening of 300 beds at the Siyan Hospital East District and the upcoming opening of new facilities at other hospitals [3] - The healthcare services segment generated operating revenue of 3.036 billion in 2024, a year-on-year decrease of 2.68% [2][3] Pharmaceutical and Medical Products - The pharmaceutical and medical products segment achieved operating revenue of 753 million in 2024, a year-on-year decrease of 3.82%, with a gross margin of 49.48%, up 5.52 percentage points [4] - The company has strengthened its market position with its "Duyiwei" series of products, which successfully participated in national procurement [4][5] Strategic Initiatives - The company is extending its industrial chain through acquisitions, such as the purchase of Gansu Furen Pharmaceutical, to create a complete cycle from planting to processing and sales of traditional Chinese medicine [5] - The company is also diversifying into consumer healthcare with new product lines in oral care and health foods [6] Network and Infrastructure - By the end of 2024, the company had established a medical network covering six major regions, with a total of 24 medical institutions [6] - The company is implementing a "1+N" medical service model to enhance its regional medical center construction [6] Investment Outlook - Despite slight pressure on Q1 performance, the company anticipates gradual improvement in performance with the continued release of new beds, adjusting revenue and net profit forecasts for 2025-2026 [7]