The Zhitong Finance App learned that Gushengtang (02273) rose nearly 5% and rose 4.95% at press time to HK$44.5, with a turnover of HK$18.87 million.
According to the news, the company recently announced its 2023 results, with revenue of about 2,323 billion yuan, up 43% year on year; gross profit of about 700 million yuan, up 40.1% year on year; profit attributable to parent company owners of about 252 million yuan, up 39.45% year on year; basic profit per share. The announcement stated that the increase in revenue was mainly due to increased revenue from providing healthcare solutions. Revenue from providing healthcare solutions increased by 43.3% to $2,287 billion, mainly due to the expansion of online medical platforms and the increase in revenue generated by new acquisitions and existing offline medical institutions.
According to a research report, Huafu Securities gave the company a “buy” rating, taking into account the high level of industry sentiment, adjusted the company's 2024/25 net profit forecast to be 3.67 million yuan and 479 million yuan, adding 593 million yuan in 2026. Considering the differences in business model and growth between the company and comparable companies, a certain valuation premium was given, with a target price of HK$57.88. The company's business layout continued to expand last year. As of 2023/12/31, it owns and operates 56 medical institutions, covering 16 cities. During the reporting period, the company acquired 7 offline institutions and built 2 offline institutions of its own; on the online side, it has now established cooperative relationships with various third-party online platforms.