Core Viewpoint - The company, He Shi Eye Hospital, is facing significant challenges, including a substantial decline in stock price and ongoing shareholder reduction pressures, amid a competitive landscape in the ophthalmology industry [1][3][7]. Company Summary - He Shi Eye Hospital's major shareholder, Advanced Manufacturing Industry Investment Fund, plans to reduce its holdings by up to 3.1061 million shares, representing 2% of the total share capital, marking the second attempt for a similar reduction [3]. - The company's stock price has dropped over 60% from its historical peak, closing at 21.82 yuan per share as of July 2, 2025 [1][3]. - Since its establishment in 1995, He Shi Eye Hospital has expanded from a small clinic to a group-based ophthalmology service provider, currently operating 127 service institutions as of the end of 2024 [6]. Financial Performance - In 2022, He Shi Eye Hospital reported a revenue of 9.55 billion yuan, a slight decrease of 0.74% year-on-year, with a net profit of 0.33 billion yuan, down 61.55% [7]. - The financial situation worsened in 2024, with revenue declining by 7.56% to 10.96 billion yuan and a net loss of 0.2739 billion yuan, marking a 143.11% year-on-year decline [7][8]. - Compared to competitors like Aier Eye Hospital, which maintained a revenue growth rate of around 20%, He Shi Eye Hospital has experienced negative growth since its IPO [7][9]. Industry Context - The ophthalmology market in China is undergoing significant changes, with the number of private eye hospitals increasing from 890 to 1,609 between 2019 and 2023, reflecting a compound annual growth rate of 15.4% [9]. - He Shi Eye Hospital's main business segments, including cataract, optical, and refractive services, have all faced revenue declines due to increased competition from larger players [9][10]. - The industry is also impacted by policy changes, such as the reform of medical insurance payment methods and centralized procurement of medical supplies, which have reduced procurement costs by 60% but also compressed profit margins [10].

手术当日，面对手术显微镜清晰度和景深有限的不利条件，杜红俊凭借多年积累的丰富临床经验，历时约30分钟，成功为一例外伤性白内障患者实施了 切口不足3毫米的超声乳化手术，术中同步修复了患者的角膜裂伤，并植入了一枚折叠型人工晶体。术后第一天，患者视力明显改善。 此例手术的成功开展，标志着该院眼科诊疗技术实现"质的飞跃"，也为老挝当地白内障患者带来了更好的选择和术后效果，是中老两军深入交流的生动 写照，也是两国友谊在医疗卫生领域结出的又一硕果。 人民网曼谷6月26日电 （记者杨一）万象消息：中国军队第十三批援老医疗队近日在老挝人民军103医院成功实施了该院建院以来的首例超声乳化白内 障摘除联合折叠型人工晶体植入手术。 此前，103医院已购置白内障超声乳化仪多年，却因缺乏专业技术人才，设备一直未能投入使用，医院眼科仍沿用传统的大切口（约10毫米）白内障囊 外摘除术，这使得患者术后面临反应重、散光大及恢复慢等困扰，严重影响了视觉康复效果。 第十三批援老医疗队队长、眼科专家杜红俊抵达后了解到这一情况，立即带领团队仔细阅读产品说明书，并与国内器械公司多次沟通，最终在远程指导 下完成设备安装调试，并利用猪眼球进行了反复模拟操作 ...

"我连自己的手都看不见，有时候会撞到墙上，或者打翻东西。"贡布一边说，一边用手指在空中无 意识地摸索，"听说，县里来了一支千里之外的医疗队，队员是来自陕西的医疗专家。家人赶紧带我过 来看病。" 宝鸡市人民医院眼科医院日间手术中心副主任、援藏医疗队成员张建峰带领医疗队与当地眼科团队 一起为贡布进行详细检查。"贡布视力仅存微弱光感，晶状体核硬度达到5级，加上高原低氧环境的影 响，手术难度很大。"张建峰说。 西藏自治区阿里地区医疗资源匮乏、医疗条件落后，群众就医不便。前不久，宝鸡援藏医疗队前往 西藏自治区阿里地区改则县进行医疗对口帮扶。 78岁牧民贡布被白内障困扰了3年，生活需要他人帮助。 "我们采用了翼状胬肉切除联合角膜缘干细胞移植术。该技术不仅能彻底清除病变组织，还能利用 患者自身干细胞促进角膜修复，降低复发风险。"张建峰说。 术后，旦增的视力提升至0.5，能够清晰辨认家人面容，甚至能独立阅读。"现在，我又能看清孙子 的笑容了。"旦增激动地说。 6月6日，在改则县第二小学的大礼堂，宝鸡援藏医疗队为200余名师生带来一场题为《防控近视增 强体魄 健康成长报效祖国》的近视防控科普讲座。 "这里紫外线强、空气干燥，眼 ...

Group 1 - The core viewpoint of the article highlights that Aier Eye Hospital's stock closed at 12.47 yuan, down 1.42%, with a rolling PE ratio of 31.38 times and a total market capitalization of 116.288 billion yuan [1] - The average PE ratio for the medical services industry is 41.83 times, with a median of 45.41 times, placing Aier Eye Hospital at the 22nd position in the industry ranking [1] - As of March 31, 2025, Aier Eye Hospital had 347,329 shareholders, a decrease of 31,805 from the previous count, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] Group 2 - Aier Eye Hospital's main business includes diagnosis and surgical services for various eye diseases, with key products being refractive projects, cataract projects, anterior segment projects, posterior segment projects, and vision services [1] - In the latest quarterly report for Q1 2025, the company achieved an operating revenue of 6.026 billion yuan, a year-on-year increase of 15.97%, and a net profit of 1.050 billion yuan, up 16.71%, with a gross profit margin of 48.02% [1]

6月9日，华厦眼科今日收盘19.24元，上涨1.21%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到38.26倍，总市值161.62亿元。 从行业市盈率排名来看，公司所处的医疗服务行业市盈率平均41.42倍，行业中值44.32倍，华厦眼科排 名第28位。 华厦眼科医院集团股份有限公司的主营业务是眼科专科医疗服务。公司的主要产品是白内障项目、眼后 段项目、屈光项目、眼视光综合项目。 最新一期业绩显示，2025年一季报，公司实现营业收入10.93亿元，同比11.74%；净利润1.50亿元，同 比-4.00%，销售毛利率44.97%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)28华厦眼科38.2637.702.74161.62亿行业平均 41.4247.583.52160.55亿行业中值44.3250.812.7559.92亿1润达医疗-298.01197.212.57109.02亿2何氏眼 科-154.96-134.851.9336.95亿3*ST生物-139.41-135.5311.4526.90亿4诚达药业-74.10-126.951.6735.68亿5普 瑞眼科-65.48-5 ...

6月5日，何氏眼科今日收盘23.33元，上涨3.32%，最新市净率1.93，创112天以来新低，总市值36.87亿 元。 资金流向方面，6月5日，何氏眼科主力资金净流入579.69万元，近5日总体呈流入状态，5日共流入 1899.78万元。 辽宁何氏眼科医院集团股份有限公司的主营业务是为客户提供个性化、智慧化的眼健康管理服务。公司 的主要产品是屈光不正手术矫正服务、白内障诊疗服务、玻璃体视网膜诊疗服务、其他眼病诊疗服务、 非手术治疗、视光服务、其他业务收入。 最新一期业绩显示，2025年一季报，公司实现营业收入2.91亿元，同比2.35%；净利润3253.19万元，同 比12.27%，销售毛利率43.80%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)2何氏眼科-154.63-134.561.9336.87亿行业平均 40.8246.973.46158.62亿行业中值45.9353.092.7358.93亿1润达医疗-291.25192.732.51106.54亿3*ST生 物-126.41-122.8910.3824.39亿4诚达药业-72.40-124.031.6334.86亿5普瑞眼科-66 ...

最新一期业绩显示，2025年一季报，公司实现营业收入60.26亿元，同比15.97%；净利润10.50亿元，同 比16.71%，销售毛利率48.02%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)22爱尔眼科31.5832.915.361170.34亿行业平均 40.3546.493.46158.30亿行业中值47.2152.292.7259.39亿1润达医疗-285.64189.022.47104.49亿2何氏眼 科-142.30-123.831.7733.93亿3*ST生物-118.20-114.919.7122.80亿4诚达药业-74.55-127.721.6835.89亿5普 瑞眼科-66.51-59.752.8560.87亿6皓宸医疗-52.44-63.076.2223.77亿7创新医疗-50.98-56.933.0353.48亿8国际 医学-45.16-45.423.23115.42亿9百诚医药-36.42-88.911.8446.89亿10金域医学-35.05-35.891.99136.85亿11睿 智医药-29.77-25.554.7457.86亿 来源：金融界 资金流向方面，6月 ...

Core Viewpoint - Aier Eye Hospital, the largest ophthalmology chain globally, has seen its annual revenue grow from approximately 600 million yuan in 2009 to over 20 billion yuan in 2024, yet its stock price has significantly declined in recent years, raising concerns among investors [1]. Financial Performance - Aier Eye Hospital's revenue for 2024 is projected to be 20.983 billion yuan, with a net profit of 3.556 billion yuan and a net profit excluding non-recurring items of 3.099 billion yuan [7][17]. - The company has experienced a notable slowdown in revenue growth over the past five years, with growth rates of 19.24%, 25.93%, 7.39%, 26.42%, and 3.02% from 2020 to 2024 [11][13]. - The net profit growth rates during the same period were 25.01%, 34.78%, 8.65%, 33.06%, and 5.87%, while the net profit excluding non-recurring items recorded a negative growth of -11.82% in 2024, marking the first negative growth since its listing [11][14]. Stock Performance - Since its peak on July 1, 2021, Aier Eye Hospital's stock price has declined nearly 70% as of May 29, 2025 [2][3]. - The stock price as of May 30, 2025, was 12.41 yuan per share, significantly lower than its initial public offering price of 28 yuan [6][17]. Market Position and Strategy - Aier Eye Hospital operates 352 hospitals and 229 outpatient departments, ranking first among domestic peers [19]. - The company is focusing on a "1+8+N" development strategy, aiming to establish a world-class ophthalmology center and regional centers to drive overall growth [23][24]. Industry Outlook - The ophthalmology industry is expected to remain resilient despite economic uncertainties, driven by increasing demand due to factors such as population aging and rising prevalence of eye diseases [6][24]. - The company believes that the potential market size for ophthalmology is vast, with low penetration rates in various sub-specialties, indicating significant growth opportunities [23][24].

序号股票简称PE(TTM)PE(静)市净率总市值(元)22爱尔眼科31.7833.125.391177.80亿行业平均 39.3945.553.43156.67亿行业中值44.3052.552.7058.27亿1润达医疗-291.91193.172.52106.79亿2何氏眼 科-139.92-121.761.7533.36亿3*ST生物-120.25-116.909.8823.20亿4诚达药业-72.65-124.471.6334.98亿5普 瑞眼科-66.22-59.492.8460.60亿6皓宸医疗-52.07-62.636.1823.60亿7国际医学-45.20-45.453.24115.51亿8创 新医疗-44.42-49.602.6446.60亿9金域医学-35.08-35.921.99136.94亿10百诚医药-33.59-82.011.6943.25亿11 迪安诊断-22.59-25.381.3990.68亿 来源：金融界 爱尔眼科医院集团股份有限公司的主营业务是各类眼科疾病诊疗、手术服务与医学验光配镜。公司的主 要产品是屈光项目、白内障项目、眼前段项目、眼后段项目、视光服务项目。 最新一期业 ...

最新一期业绩显示，2025年一季报，公司实现营业收入2.08亿元，同比4.32%；净利润57.38万元，同比 103.06%，销售毛利率37.61%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)14光正眼科-14.05-12.5019.1321.83亿行业平均 38.6644.623.37152.83亿行业中值43.3251.712.6756.60亿1润达医疗-296.69196.342.56108.54亿2何氏眼 科-138.99-120.951.7333.14亿3*ST生物-119.91-116.579.8523.13亿4诚达药业-71.50-122.491.6134.42亿5普 瑞眼科-66.28-59.552.8460.66亿6皓宸医疗-51.14-61.516.0723.18亿7国际医学-44.93-45.183.22114.83亿8创 新医疗-43.20-48.242.5745.32亿9金域医学-34.69-35.521.97135.41亿10百诚医药-33.08-80.771.6742.60亿11 迪安诊断-22.22-24.961.3689.18亿 来源：金融界 5月27日，光正眼 ...