Open Source Securities estimates that Jinxin Reproduction (01951)'s net profit for 2024-26 will be $3.87/46,538 million yuan.
The Zhitong Finance App learned that Open Source Securities released a research report saying that considering the company's continued increase in profitability, high competitive barriers in the industry, and the new Shenzhen campus is expected to open and operate, maintaining the “buy” rating of Jinxin Reproduction (01951), considering the high valuation of the M&A market in 2023, lowering 2024-25 and adding a profit forecast for 2026, the net profit returned to the mother is estimated to be 3.87/463/538 million yuan. In 2023, the company achieved revenue of 2,789 billion yuan (+18% year-on-year; the following are all year-on-year scales), adjusted net profit of 471 million yuan (+72%), gross profit margin of 42.1% (+5.17pct), and adjusted net profit margin of 16.9% (+5.31pct).
According to the report, Sichuan Jinxin Xinan Hospital has been qualified for PGT trial operation, and the new hospital in Shenzhen is expected to be put into operation. In July 2023, Sichuan Jinxin Xinan Hospital (Bisheng Campus) was qualified for PGT trial operation, enabling Sichuan Jinxin Xinan Hospital (Bisheng Campus) to provide medical services in various fields of assisted reproduction, including IUI (AIH, AID), IVF-EF, ICSI and PGT. In 2023, two clinics in Hong Kong began actively promoting “egg freezing” medical services, leading to a 145% increase in the number of egg freezes compared to the same period in 2022. Laos Jinrui Medical Center began trial operation in August 2023. The new campus of Shenzhen Zhongshan Hospital is expected to relocate its business in the first half of 2025.