每经AI快讯，华厦眼科（SZ 301267，收盘价：21.36元）发布公告称，2025年9月16日9:30-11:00，华厦 眼科接受惠璞投资调研，公司董事会秘书曹乃恩，证券部副总监、证券事务代表沈石华参与接待，并回 答了投资者提出的问题。 2025年1至6月份，华厦眼科的营业收入构成为：屈光占比36.9%，眼视光综合项目占比24.04%，白内障 占比20.14%，眼后段项目占比12.94%，其他业务占比5.99%。 每经头条（nbdtoutiao）——海拔4306米现"秦始皇密令"，获官方"身份认定"！古文字学家刘钊：秦人 寻仙采药足迹确至青藏高原 （记者 曾健辉） 截至发稿，华厦眼科市值为179亿元。 ...

Core Viewpoint - Chengdu Puri Eye Hospital Group Co., Ltd. is a leading provider of comprehensive eye care services in China, focusing on innovation and professional expertise to build a competitive advantage in the ophthalmology sector [2]. Group 1: Company Overview - The company specializes in diagnosing, treating, and providing healthcare services for various eye diseases, including refractive surgery, cataracts, and other ophthalmic conditions [2]. - Puri Eye has established a strong brand identity based on "professionalism, innovation, and responsibility," and has created a competitive edge through a nationwide chain of eye hospitals [2]. - The company employs a "full-cycle eye health management" approach, integrating renowned medical experts and cutting-edge technology to enhance service quality [2]. Group 2: Financial Performance - In the first quarter of 2025, the company reported a revenue of 742 million yuan, representing a year-on-year increase of 9.82% [3]. - The net profit for the same period was approximately 27.28 million yuan, showing a significant year-on-year growth of 61.18% [3]. - The gross profit margin stood at 39.34%, indicating a healthy profitability level compared to industry peers [3]. Group 3: Market Position - As of the latest data, Puri Eye's market capitalization is approximately 6.178 billion yuan, with a price-to-earnings (PE) ratio of 67.51 [3]. - The company has a price-to-book (PB) ratio of 2.89, which is competitive within the industry [3]. - The company is positioned favorably against industry averages, with its PE and PB ratios reflecting strong market confidence [3].

Core Insights - The company reported a revenue of 20.983 billion yuan for 2024, representing a 3.0% increase, and a net profit attributable to shareholders of 3.56 billion yuan, up 5.9% [1] - The Q4 2024 single-quarter revenue was 4.68 billion yuan, an 8.4% increase, while the net profit attributable to shareholders decreased by 41.3% to 104 million yuan [2] - For Q1 2025, the company achieved a revenue of 6.026 billion yuan, a 16.0% increase, and a net profit of 1.05 billion yuan, up 16.7% [2] Financial Performance - The company's revenue from various segments in 2024 included: - Refractive and optical: 7.6 billion yuan (+2.3%) - Cataract: 3.49 billion yuan (+4.9%) - Anterior segment: 1.9 billion yuan (+6.0%) - Posterior segment: 1.5 billion yuan (+8.2%) - Gross margins for these segments were 55.1%, 34.7%, 41.2%, and 31.4% respectively, with slight declines year-over-year [2] - The expense ratios for 2024 were: - Sales: 10.3% - Management: 14.2% - R&D: 1.5% - Financial: 1.0% [2] Operational Highlights - The company recorded an outpatient volume of 16.94 million visits in 2024, a 12.1% increase, and performed 1.29 million surgeries, a 9.4% increase [3] - By the end of 2024, the company had established a global network of 974 medical facilities, with 811 in mainland China [3] - The overseas revenue reached 2.63 billion yuan, accounting for 12.5% of total revenue, indicating a growing international presence [3] Investment Outlook - The company adjusted its revenue forecasts for 2025 and 2026 to 23.43 billion yuan and 25.96 billion yuan, respectively, with growth rates of 11.7% and 10.8% [4] - The net profit forecasts for the same years are 4.07 billion yuan and 4.65 billion yuan, with corresponding growth rates of 14.5% and 14.2% [4] - The company maintains a "buy" rating with projected EPS of 0.44 yuan for 2025 and 0.50 yuan for 2026 [4]