Core Viewpoint - In 2025, the healthcare sector in the Xinjiang Production and Construction Corps (XPCC) made significant strides, enhancing the accessibility, quality, and efficiency of medical services, thereby improving the health security and overall well-being of the workforce [1][2]. Group 1: Accessibility and Quality of Healthcare Services - The accessibility and convenience of grassroots medical services have significantly improved, with more common and chronic diseases being treated locally, and emergency cases being efficiently referred to higher-level hospitals [1][2]. - The capacity of grassroots medical institutions has steadily increased, with enhanced professional skills of medical staff and improved infrastructure and equipment conditions [1][2]. - The establishment of tightly-knit medical communities has effectively met the demand for local treatment of minor ailments and management of chronic diseases, greatly enhancing the convenience and safety of daily medical visits [1]. Group 2: Specialized and Information-Driven Medical Services - The specialized and characteristic medical service capabilities have steadily strengthened, with hospitals forming a network covering common, chronic, and some complex diseases, allowing local high-level diagnosis and treatment [2]. - The acceleration of smart healthcare and information technology construction has led to the establishment of integrated platforms for remote consultations and diagnostics, breaking down geographical barriers and providing precise data support for clinical decision-making [2]. - Traditional Chinese medicine services have played an important role in health security, with a comprehensive network established to promote suitable techniques in grassroots applications, offering diverse health management options to the workforce [2]. Group 3: Continuous Improvement in Healthcare Development - To further enhance high-quality healthcare development, continuous efforts are needed in improving grassroots medical capabilities, refining health service systems, and optimizing the medical experience [3]. - Prioritizing the health of the workforce and treating medical services as a crucial aspect of public welfare is essential for ensuring that healthcare achievements become a vital support for the happiness of the workforce [3].

Financial Data and Key Metrics Changes - The company pre-announced preliminary fourth quarter results with a slight downtick in revenue guidance, attributed to weaker performance in November, but December rebounded strongly, leading to a positive outlook for 2026 [3][4] - Guest spend reached the highest level ever, with metrics indicating strong performance during the holiday season [12] Business Line Data and Key Metrics Changes - The company is focusing on expanding its acupuncture and med spa services, which currently account for about 8% of total revenue and are growing at 10% annually [9] - The reorganization included exiting the Asia land-based operation, which will not impact EBITDA but will affect revenue numbers [6][7] Market Data and Key Metrics Changes - The company noted a strong consumer appetite for wellness services, particularly in the maritime segment, indicating a trend towards higher guest spending [9][11] - Pre-booking rates are currently around 22%, with a goal to increase this to 30%, as pre-booked guests tend to spend 35% more than those who book on board [16][21] Company Strategy and Development Direction - The company is implementing machine learning and AI initiatives to enhance revenue and efficiency, with plans to roll out these technologies across more vessels [22][23] - The focus is on maintaining collaborative relationships with cruise line partners to grow the overall business rather than competing for smaller slices of revenue [40][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining pricing power across different macro environments, citing strong demand for services [13][14] - The company is optimistic about the future, particularly in the wellness and longevity sectors, and is exploring new service offerings [10][32] Other Important Information - The company returned $92.9 million to shareholders in 2025 through share repurchases and dividends while also investing in debt pay down [36] - Staff retention has improved significantly, with a current retention rate of 76%, which enhances productivity and reduces training costs [30] Q&A Session Summary Question: Can you provide insights on the pre-announcement and fourth quarter results? - Management noted a slight revenue guide downtick due to November's performance but highlighted a strong December, leading to a positive outlook for 2026 [3][4] Question: What are the implications of closing the Asia land-based facility? - The exit will not impact EBITDA but will affect revenue, as the operation was not profitable [6][7] Question: How is the company addressing the growth in guest spending? - The company has reworked service offerings to encourage longer and higher-priced treatments, which has successfully driven guest spending [11][12] Question: What is the strategy for improving pre-booking rates? - Management aims to enhance pre-booking capabilities and increase visibility on mobile platforms to boost rates from 22% to 30% [16][21] Question: How does the company view its relationships with cruise line partners? - The focus has shifted to collaborative growth with cruise lines, emphasizing the importance of enhancing the overall guest experience [40][41]

Core Insights - Palmercare Chiropractic Fairfax has achieved a milestone year with record-breaking patient volume and enhanced community involvement under the leadership of Dr. Anna Choi [1][3][4] Group 1: Patient Growth and Community Engagement - The clinic served more patients than ever in 2025, driven by strong participation in local community events and wellness initiatives [3][4] - Outreach efforts have strengthened relationships with Fairfax-area residents, reinforcing the clinic's reputation as a welcoming, patient-centered chiropractic office [3][4] Group 2: Commitment to Clinical Excellence - Dr. Anna Choi emphasized creating a supportive environment for patients, which has contributed to the clinic's growth and the trust placed in it by the community [4][9] - The clinic focuses on providing comprehensive chiropractic care aimed at helping patients achieve and maintain health through spinal alignment and nervous system function [7] Group 3: Complementary Services and Professional Development - In addition to chiropractic care, the clinic offers services such as massage therapy, physiotherapy, acupuncture, and rehabilitation to support recovery and long-term wellness [8] - Dr. Choi has prioritized continuing education and professional development to ensure the team stays updated with evolving chiropractic techniques and best practices [9] Group 4: Broader Legacy of Care - Palmercare Chiropractic operates multiple locations and has a legacy of serving over 100,000 satisfied patients across the organization [10]

AI and Traditional Chinese Medicine Integration - AI is being used to analyze traditional Chinese medicine (TCM) with precision [1] - The integration of AI with TCM combines old wisdom with modern tools [1] - AI is used to analyze components of Chinese herbal medicines, predict drug interactions, and accelerate research and development [6] - A company developed an app using AI to analyze tongue photos for health assessments and personalized wellness tips [7] Traditional Chinese Medicine Principles - TCM focuses on syndrome differentiation and holistic treatment [2] - TCM emphasizes treating the human body as a whole [2] - Acupuncture stimulates acupoints to regulate the body for pain relief and recovery [2] - Traditional methods rely on experience and inheritance [3] Modern Medicine and Technology - Modern medicine uses cutting-edge technology to combat diseases with precision [3] - Pharmaceutical research uses bioengineering, monoclonal antibodies, and gene therapy [3] - Modern medicine uses data and technology to defeat diseases [4] Synergistic Benefits - The combination of traditional inspection methods with AI provides better solutions for patients [8] - The integration extends medical concepts, combining holistic views with precision and efficiency [8] - This collision breaks boundaries and paves new paths for better healthcare [9]