让健康福祉扎根基层 ——定西市持续推进卫生健康事业高质量发展 新定西·定西日报记者 魏姣 崔桓 "监测预警、检验检测、应急处置，这些都是我们的核心职责，容不得半点松懈。"市疾控中心党总支专 职副书记宋亚萍说，"我们始终以提升能力为主线，致力于织密公共卫生防护网，为百姓健康站好岗、 放好哨。" 这些具体而微的基层实践，汇聚成全市卫生健康事业的扎实步履。据市卫生健康委副主任李耀祖介 绍，"十四五"以来，全市紧紧围绕"健康定西"建设，持续深化医药卫生体制改革，不断夯实基层医疗卫 生服务网底，并推出了"十个多一点""一次挂号管三天""新生儿出生一件事"等一系列便民暖心服务举 措，有效破解群众看病就医的难点，群众健康获得感与满意度不断提升。 "党的二十届四中全会提出了'加快建设健康中国'的重大战略部署，这对增进全民健康福祉、推进中国 式现代化意义深远。"李耀祖表示，面向"十五五"这一夯实基础、全面发力的关键时期，全市卫生健康 系统将坚持新时代党的卫生与健康工作方针，全面落实健康优先发展战略，积极应对人口老龄化，统筹 发展和安全，深入实施"健康定西"建设行动，构建优质高效的卫生健康服务体系，为全市经济社会发展 提供健康保 ...

突破瓶颈，探索中医药转化新模式 12月23日，广州中医药大学深圳医院（福田）得壹中医药创新转化中心（以下简称"得壹中心"）在河套 深港科技创新合作区（以下简称"河套合作区"）正式启动。深港两地政府、卫健部门、高校、科研机构 及企业代表共同出席活动，现场签署多项战略合作协议。作为粤港澳大湾区中医药传承创新发展的战略 性平台，得壹中心的成立标志着深圳在建设中医药传承创新发展试验区、打造一流中医药创新城市 （300778）进程中迈出关键一步。 当前，中医药领域仍面临传承不足、创新不够、成果转化机制不畅等现实瓶颈。深圳作为"国家中医药 传承创新发展试验区"，虽坐拥"双区驱动"优势，但在中药创新与专利产出等方面，与北京、上海等城 市仍有较大差距。如何利用河套合作区的独特政策与区位优势，破解制约中医药转化的体制机制壁垒， 探索中医药创造性转化与创新性发展的新路径，加快推进中医药现代化、产业化与国际化，已成为时代 赋予的重要命题。正是为了回应这一使命，得壹中心应运而生。 得壹中心立足于《河套深港科技创新合作区深圳园区发展规划》明确提出建设"深港科技创新开放合作 先导区"与"国际先进科技创新规则试验区"的战略定位，依托河套合 ...

每经AI快讯，西安市人民政府办公厅近日印发《促进生物医药产业能力提升实施方案(2025—2027 年)》。其中提出，打造中药产业链群。壮大"中药材种植—中成药生产—品牌建设"中药产业链群。鼓 励周至县等地建设中药材生产基地，恢复万寿路国家级中药材专业市场功能，支持建设交易中心线上平 台，保障中药材可持续发展和连续供应，补足上游中药材种植短板。支持企业培育一批过亿元中药大品 种，持续在生产领域扩大产能。加大经典名方、验方及中药新药研发力度，支持中药大品种二次开发和 院内制剂转化，做大做强"秦药"品牌。到2027年，全市中药链群产业规模力争达到90亿元。 ...

Core Insights - The event "Traditional Chinese Medicine Culture Market" aims to promote TCM culture and meet public health needs during winter, organized by Shenyang Health Commission and Shenyang Traditional Chinese Medicine Hospital [1] Medical Sector - The medical section focuses on winter diseases and body conditioning, featuring a team of renowned TCM experts providing free pulse diagnosis, tongue diagnosis, and personalized treatment services [1] - Specialized consultations and preventive guidance are offered for common winter illnesses such as cardiovascular diseases, respiratory diseases, and children's recurrent respiratory infections [1] Health and Wellness Sector - Free experiential areas for acupuncture, massage, cupping, scraping, and ear acupressure are set up to allow citizens to experience TCM techniques [2] - Activities include group teaching and demonstrations of traditional exercises like Baduanjin and Tai Chi, promoting physical activity for health [2] - Interactive games and handcraft projects are organized to engage youth in TCM culture, including making herbal sachets and traditional medicinal products [2] Cultural and Creative Sector - The cultural section features free tastings of classic winter health dishes such as ginger lamb soup and red date tea, alongside the sale of health products and cultural merchandise [2] - Traditional medicine-making techniques are showcased, allowing citizens to participate in the creation of herbal products and learn about ancient methods [2] Industry Sector - A display area for local medicinal materials highlights the geographical advantages and medicinal value of Liaoning's native herbs [3] - TCM enterprises present products like health food packages and smart moxibustion devices, integrating TCM with modern health technology [3] - An AI TCM diagnostic area utilizes wearable devices to collect health data, predicting potential health risks and providing preventive advice based on big data analysis [3]

Core Insights - Jiangsu Provincial Hospital of Traditional Chinese Medicine has upgraded its internet hospital services, enhancing patient experience through digital technology and innovative health management practices [1][2][4] Group 1: Service Enhancements - The hospital has introduced a smart navigation and parking reservation system, significantly improving the efficiency of patient visits [1] - The internet hospital's 2.0 version upgrade includes features such as online consultations, appointment scheduling, and integrated payment systems, addressing common patient challenges like lengthy processes and multiple trips [2][3] - New services in the 2.0 version include an elder-friendly interface, online authentication, and comprehensive medical report access, further enhancing the patient service experience [3] Group 2: Chronic Disease Management - The establishment of a chronic disease management center aims to provide personalized health management solutions for the growing number of chronic disease patients in China, which exceeds 300 million [4][5] - The center has developed a comprehensive health service management system that includes monitoring, education, and intervention for chronic disease patients, with initial focus on hypertension, stroke, diabetes, and gastric cancer [5] Group 3: Future Developments - The hospital plans to launch a self-service area for patients to manage prescriptions and purchase products online, enhancing convenience and accessibility [6] - Future initiatives will include expanding online services for overseas Chinese and international friends, as well as improving the integration of traditional Chinese medicine with digital technology [6]

Core Viewpoint - The report from Dongfang Securities indicates an upward revision of the gross profit margin forecast for Guoshengtang (02273) and adjustments to the earnings per share for 2025-2027, reflecting a positive outlook for the company's financial performance [1] Financial Performance - In the first half of 2025, the company achieved revenue of 1.49 billion yuan, a year-on-year increase of 9.5%, with a net profit attributable to shareholders of 150 million yuan, up 41.9%. Operating cash flow reached 300 million yuan, a 111% increase, and free cash flow was 210 million yuan, up 466% [1] Business Segmentation - Revenue from healthcare solutions in the first half of 2025 was 1.48 billion yuan, a year-on-year increase of 10.4%, while revenue from health products was 10 million yuan. Offline institutional revenue was 1.37 billion yuan, up 11.1%, with same-store sales accounting for 97.3% of total revenue, indicating growth driven by existing store operations [2] Strategic Expansion - The company added 7 new stores in the first half of 2025 (4 self-built and 3 through acquisition) and entered 2 new cities, demonstrating a strategy focused on stable growth from existing stores while expanding cautiously [2] Product Development - Revenue from in-hospital formulations and other self-priced products surged by 209% year-on-year in the first half of 2025. The company launched 2 new in-hospital formulations, bringing the total to 14, with one product successfully certified and launched in Singapore [3] International Growth - Revenue from Singapore reached 2.143 million yuan, a year-on-year increase of 121%, indicating rapid growth in overseas business. The dual model of "service + product" is beginning to take shape, potentially opening a second growth curve for the company [3] Ecosystem Development - The company has established deep collaborations with major platforms such as Xiaohongshu, Meituan, Douyin, and Gaode Map, with new users from these platforms accounting for 7.6% of the total new users, while customer acquisition costs remain below the industry average [4] AI Integration - As of late August, the AI prescription payment rate reached 76.7%, with expert prescription acceptance exceeding 80%. The company possesses over 20 million consultation records, 18 million cases, and 100,000 high-quality expert data, indicating a strong data foundation for future AI applications [4]

Core Viewpoint - Dongfang Securities has raised the gross profit margin forecast for Guoshengtang (02273) based on the 2025 interim report, adjusting the earnings per share for 2025-2027 to 1.54, 1.88, and 2.30 yuan respectively, with a target price of 45.54 HKD based on a 27x P/E ratio for 2025, maintaining a "Buy" rating [1][2] Financial Performance - In the first half of 2025, the company achieved revenue of 1.49 billion yuan, a year-on-year increase of 9.5%, with a net profit attributable to shareholders of 150 million yuan, up 41.9%, and operating cash flow of 300 million yuan, up 111%, while free cash flow reached 210 million yuan, a significant increase of 466% [2] Business Growth and Strategy - By business segment, the revenue from healthcare solutions in the first half of 2025 was 1.48 billion yuan, a year-on-year increase of 10.4%, while revenue from health products was 10 million yuan. Offline institutional revenue was 1.37 billion yuan, up 11.1%, with same-store sales accounting for 97.3%, indicating growth primarily from existing stores [3] - The company added 7 new stores (4 self-built and 3 acquired) and entered 2 new cities, following a strategy of "steady growth from existing stores and orderly expansion of new stores" to mitigate acquisition risks and ensure high-quality performance growth [3] Product Development and International Expansion - The revenue from in-hospital preparations and other self-priced products saw explosive growth, increasing by 209% year-on-year. The company added 2 new in-hospital preparations, bringing the total to 14, with one product successfully certified and launched in Singapore [4] - Revenue from Singapore reached 2.143 million yuan, a year-on-year increase of 121%, indicating rapid growth in overseas business and the establishment of a dual-wheel business model of "service + product" [4] Digital and AI Initiatives - The company has established deep collaborations with major platforms such as Xiaohongshu, Meituan, Douyin, and Gaode Map, with new users from these platforms accounting for 7.6% of the group's offline new user count, achieving lower customer acquisition costs than the industry average [5] - As of late August, the prescription payment rate for the AI avatar reached 76.7%, with expert prescription adoption exceeding 80%. The company possesses over 20 million consultation records, 18 million cases, and 100,000 high-quality expert data, planning to advance AI avatar functionalities and commercial applications [5]

Group 1 - In H1 2025, the company achieved revenue of 1.495 billion yuan, representing a year-on-year growth of 9.38%, and a net profit of 152 million yuan, up 41.90% [1] - The company acquired approximately 94% of new customers through proprietary medical institutions, pharmacies, and online medical platforms, with a low customer acquisition cost [1] - The average customer spending per visit decreased to 544 yuan in H1 2025 from 573 yuan in H1 2024, primarily due to a reduction in the cost of traditional Chinese medicine ingredients [1] Group 2 - The company launched its first "National Medicine AI Avatar" in June 2025, with a total of 10 AI avatars released by August, covering eight core specialties in traditional Chinese medicine [2] - The company is actively pursuing productization and standardization, having added two new hospital preparations in H1 2025, bringing the total to 14 [2] - The overseas business, particularly in Singapore, showed significant growth, with revenue from the Singapore store increasing by 119% year-on-year in July 2025 [2] Group 3 - The adjusted net profit forecasts for 2025 and 2026 have been raised to 520 million yuan and 630 million yuan, respectively, with an expected profit of 760 million yuan in 2027 [3] - The company maintains a "buy" rating based on rapid store expansion and AI deployment [3]

Core Insights - Company achieved a revenue of 1.495 billion yuan in H1 2025, representing a year-on-year growth of 9.5% and a net profit of 152 million yuan, up 41.6% [1] - The company is expanding its network through self-built and acquired stores, enhancing its physician resources and medical network [2] - The company is accelerating the transformation of in-hospital preparations into innovative traditional Chinese medicine, promoting productization and standardization of healthcare solutions [3] - The launch of ten AI avatars in traditional Chinese medicine aims to enhance service quality and address the shortage of quality medical resources [4] - The company is positioned as a leading player in the traditional Chinese medicine healthcare service sector, with optimistic revenue and profit projections for 2025-2027 [5] Financial Performance - In H1 2025, the company reported a revenue of 1.495 billion yuan, a 9.5% increase year-on-year, with offline medical institution revenue at 1.367 billion yuan, up 11.1% [1] - The adjusted net profit reached 170 million yuan, reflecting a 15.2% increase, while the gross margin improved to 30.6%, up 1.2 percentage points [1] - Operating cash flow was 300 million yuan, a significant increase of 111%, and free cash flow reached 210 million yuan, up 466% [1] Business Expansion - The company added 7 new stores in H1 2025, including 4 self-built and 3 acquired, expanding into 2 new cities [2] - As of H1 2025, the total number of offline stores reached 83, with a growing network in Singapore [2] - The company has established partnerships with 37 medical alliance units, enhancing its collaborative healthcare network [2] Customer Engagement - New customer acquisition reached approximately 453,000, a growth of 7.77%, with total patient visits at 2.747 million, up 15.27% [2] - Membership visit numbers increased to 1.08 million, reflecting a 15.14% growth, while membership revenue reached 620 million yuan, up 6.3% [2] Innovation and Technology - The company reported a 209% increase in revenue from self-priced products, including in-hospital preparations [3] - The successful certification of a hair care product in Singapore marks a significant achievement in the company's product transformation capabilities [3] - The introduction of AI avatars aims to enhance the efficiency and quality of traditional Chinese medicine services, achieving over 86% consistency in expert simulations [4] Future Outlook - The company is expected to achieve revenues of 3.405 billion yuan, 4.014 billion yuan, and 4.826 billion yuan from 2025 to 2027, with net profits projected at 406 million yuan, 533 million yuan, and 677 million yuan respectively [5] - The current PE multiples for 2025 are projected at 17.8X, with a "buy" rating maintained based on growth prospects [5]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index in the next six months [5][19]. Core Insights - The company has demonstrated steady revenue growth, with a projected increase in operating income from 2,323 million in 2023 to 4,826 million by 2027, reflecting a compound annual growth rate (CAGR) of approximately 20.2% [1][11]. - The net profit attributable to shareholders is expected to rise from 252.2 million in 2023 to 677.4 million in 2027, with a notable growth rate of 32.5% in 2025 [1][11]. - The company is focusing on expanding its offline medical institutions and enhancing its AI capabilities in traditional Chinese medicine, which are anticipated to drive future growth [10][11]. Financial Performance Summary - For the first half of 2025, the company reported revenue of 1,495 million, a year-on-year increase of 9.5%, with offline medical institution revenue growing by 11.1% [2][3]. - The adjusted net profit for the same period was 170 million, reflecting a 15.2% increase year-on-year, while the gross margin improved to 30.6% [2][3]. - The company has achieved significant growth in cash flow, with operating cash flow reaching 300 million, up 111% year-on-year, and free cash flow increasing by 466% to 210 million [2]. Business Expansion and Strategy - The company has continued to expand its network, adding 7 new stores in the first half of 2025, including 4 self-built and 3 acquired, bringing the total to 83 stores across China and Singapore [3]. - The company has established partnerships with 37 medical alliance units, enhancing its resource base and service capabilities [3]. - The introduction of 10 AI models in traditional Chinese medicine aims to improve service delivery and patient experience, addressing the shortage of quality medical resources [10]. Future Projections - The company is expected to achieve operating revenues of 3,405 million, 4,014 million, and 4,826 million from 2025 to 2027, with corresponding net profits of 406 million, 533 million, and 677 million [1][11]. - The price-to-earnings (P/E) ratio is projected to decrease from 17.8 in 2025 to 10.7 by 2027, indicating potential undervaluation as earnings grow [1][11].