爱尔眼科：2025 年上半年业绩，H2 营收 1H25 高于预期，自营运利润（OP）符合预期，白内障业务在压力下增长加快；买入评级

27 August 2025 | 12:00PM CST Aier Eye Hospital (300015.SZ): Earnings review: 1H25 revenue/EBIT in line, optometry business grew faster/cataract under pressure; Buy Aier Eye Hospital reported 1H25 results on Aug 26, 2025. 1H25 revenue grew by 9.1% (-1.6% vs. GSe), slower than 1Q25 (+16% yoy) mainly due to earlier admissions of military academy/military recruitment in Spring, which created a pull-forward effect in demand in 2Q25. However, 1H25 net profits were Rmb2,051mn (+0.1% yoy, -9.9% vs. GSe) due to lowe ...