Core Insights - The company reported a revenue of 2.874 billion yuan for 2024, representing a year-on-year growth of 0.96%, and a net profit attributable to shareholders of 501 million yuan, with a growth of 0.20% [1] - In Q1 2025, the company achieved a revenue of 745 million yuan, showing a year-on-year increase of 5.11%, and a net profit of 184 million yuan, up by 6.22% [1] Financial Performance - For 2024, the revenue growth in planting, restoration, and comprehensive projects outpaced overall revenue growth, with planting revenue at 530 million yuan (up 10.60%), restoration revenue at 462 million yuan (up 1.53%), and comprehensive business revenue at 765 million yuan (up 1.27%) [2] - Orthodontics revenue declined by 5.05% to 474 million yuan [2] - The profit margins showed a slight decline in 2024, with a gross margin of 38.50% and a net margin of 19.91%, impacted by the collective procurement of dental implants and the decline in orthodontics revenue [2] - In Q1 2025, the gross margin improved to 44.21%, while the net margin increased to 29.02% compared to Q1 2024 [2] Future Outlook - The company adjusted its profit forecast, expecting net profits of 537 million yuan, 625 million yuan, and 718 million yuan for 2025-2027 [3] - The company plans to accelerate the opening of new hospitals in Zhejiang to capture the oral market and deepen its focus on orthodontics and dental implants, indicating a positive long-term development outlook [3]