公 司 研 究 医 药 生 物 国际医学 沪深300 公 司 深 度 [Table_Reportdate] 2024年09月25日 [证券分析师 Table_Authors] 杜永宏 S0630522040001 dyh@longone.com.cn 证券分析师 伍可心 S0630522120001 wkx@longone.com.cn [Table_QuotePic] -61% -47% -33% -18% -4% 10% 24% 39% 23-09 23-12 24-03 24-06 24-09 [相关研究 Table_Report] 《国际医学（000516.SZ）：业务规模 持续扩大，有望加速实现盈利》—— 公司简评报告——2024.04.29 《国际医学（000516）：收入结构持 续优化，利润端加速向好——公司简 评报告》——2023.10.27 《国际医学（000516）：诊疗量逐季 攀升，经营稳步向好——公司简评报 告》——2023.08.30 [Table_invest] 买入（维持） [国际医学 Table_NewTitle]（000516）：西北全科医疗龙 头，发展进入快车道 ——公司深 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [2][7] Core Insights - The company reported a steady revenue growth of 9.53% year-on-year for H1 2024, with operating income reaching 2.42 billion yuan. The net profit attributable to shareholders was -174 million yuan, showing a 21.89% improvement, while the net profit excluding non-recurring items improved by 45.50% to -139 million yuan [4] - The company is expected to turn profitable in the upcoming quarters, with Q2 2024 showing a significant reduction in net losses compared to previous periods [4] - The company is actively optimizing its specialized service offerings and enhancing management efficiency, which is expected to improve operational effectiveness [5] Financial Performance Summary - For H1 2024, the company had an operating income of 2.42 billion yuan, with a Q2 revenue of 1.25 billion yuan, reflecting an 8.42% increase [4] - The company’s gross margin for Q2 2024 was 11.04%, showing a quarter-on-quarter increase of 3.2 percentage points [4] - The company’s cash flow from operations for H1 2024 was 526 million yuan, up 28% year-on-year [4] - The company’s revenue projections for 2024-2026 are 5.24 billion yuan, 5.97 billion yuan, and 6.82 billion yuan respectively, with net profits expected to improve significantly by 2026 [7][8]

证券代码：000516 证券简称：国际医学 公告编号：2024-059 西安国际医学投资股份有限公司 关于控股股东部分股份解除质押的公告 本公司及董事会全体成员保证公告内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 西安国际医学投资股份有限公司（以下简称"公司"）近日接到控 股股东陕西世纪新元商业管理有限公司（以下简称"世纪新元"）的通 知，世纪新元使用其持有的本公司部分股份与招商证券股份有限公司进 行的股票质押式回购交易已办理了解除质押，具体事项如下： 二、控股股东股份累计质押的基本情况 截至公告披露日，世纪新元及其一致行动人所持质押股份情况如下： | | | | 本次解 | 本次解 | | | 已质押股份 | | 未质押股份 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股 | | | 除质押 | 除质押 | 占其 | 占公 | 情况 | | 情况 | | | 东 | 持股数量 | 持股 | 前累计 | 后累计 | 所持 | 司总 | 已质押 | | 未质押 | | | | | | | | ...

证券代码：000516 证券简称：国际医学 编号：2024-06 西安国际医学投资股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------------|---------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

本报告仅供 Choice 东方财富 使用，请勿传阅。 股价表现 2024 年 08 月 28 日 国际医学(000516.SZ) 旗下医院持续爬坡，有望实现扭亏为盈 事件： 2024 年 8 月 27 日，公司发布 2024 年中期报告。2024 年上半年公 司实现营业收入 24.20 亿元，同比增长 9.53%；实现归母净利润-1.74 亿元，同比减亏 21.89%；实现扣非归母净利润-1.39 亿元，同比减亏 45.50%。单季度来看，2024 年 Q2 公司实现营业收入 12.48 亿元， 同比增长 8.42%，环比 2024 年 Q1 增长 6.36%；实现归母净利润0.69 亿元，同比减亏 53.43%；实现扣非归母净利润-0.49 亿元，同 比减亏 67.63%。 旗下医院持续爬坡，业务体量和收入体量显著提升。 2024 年 H1 公司门急诊服务总量 125.13 万人次，同比增长 17.15%， 住院服务量 10.03 万人次，同比增长 16.76%。从业务拆分来看，公 司旗下两家核心医院持续爬坡，业务体量和收入体量均有显著提升， 高新医院盈利能力大幅提升，中心医院净亏损有所收窄。 1）高新医院 ...

Financial Performance - The company's operating revenue for the first half of 2024 was ¥2,420,461,714.17, representing a 9.53% increase compared to ¥2,209,788,795.81 in the same period last year[10]. - The net loss attributable to shareholders was ¥173,605,843.66, an improvement of 21.89% from a loss of ¥222,259,756.80 in the previous year[10]. - The net cash flow from operating activities increased by 28.08% to ¥525,513,894.06, up from ¥410,297,865.17 in the prior year[10]. - The total assets at the end of the reporting period were ¥10,746,800,061.61, a decrease of 5.07% from ¥11,321,135,811.77 at the end of the previous year[10]. - The net assets attributable to shareholders decreased by 5.59% to ¥3,689,515,938.42 from ¥3,908,017,195.19 at the end of the previous year[10]. - The basic earnings per share improved to -¥0.0768 from -¥0.0977, reflecting a 21.39% increase[10]. - The diluted earnings per share also improved to -¥0.0768 from -¥0.0857, showing a 10.39% increase[10]. - The gross profit margin improved to 9.49%, an increase of 1.73 percentage points from the previous year[17]. - The company reported a significant reduction in non-recurring losses, with a total of -¥34,701,237.77 for the period[13]. Operational Highlights - In the first half of 2024, the company provided emergency and outpatient services to 1,251,300 patients, a 17.15% increase compared to the same period last year[17]. - The inpatient service volume reached 100,300 patients, reflecting a 16.76% growth year-on-year[17]. - The hospital achieved a revenue of 772.35 million yuan, an increase of 8.69% year-on-year, and a net profit of 49.46 million yuan, up 43.63% from the same period last year[21]. - The emergency and outpatient service volume reached 689,700 visits, a year-on-year increase of 31.48%, while inpatient service volume was 67,900, up 22.56% year-on-year[23]. - The hospital successfully introduced 160 new talents in the first half of 2024, including 10 with doctoral or master's degrees and 8 with senior titles[20]. - The hospital completed 51 new technology and project applications, with 22 restrictive technologies registered, and published 18 academic papers, including 5 in SCI journals[20]. - The hospital organized 29 free clinic activities, serving 5,414 people, and provided free disease screening for 589 individuals[21]. - The hospital established partnerships with 76 medical institutions, adding 19 new cooperative medical institutions to expand quality medical resource coverage[21]. Strategic Initiatives - The company is expanding its medical services by integrating "Internet healthcare" and exploring "medical + AI" technology applications[16]. - The company aims to enhance its core competitiveness and sustainable profitability through internal growth and external expansion strategies[17]. - The company has become a member of the Mayo Clinic Care Network, aligning its medical quality and services with international standards[17]. - The company is developing a proton therapy center, which will be the first of its kind in Northwest China, enhancing its capabilities in cancer treatment[34]. - The company is focusing on digital transformation in healthcare, integrating advanced technologies such as artificial intelligence and telemedicine into its services[36]. - The company aims to create a comprehensive healthcare ecosystem, including a city of 20 specialized hospitals to meet diverse patient needs[34]. Financial Position - The total assets of Xi'an Gaoxin Hospital Co., Ltd. reached 2,090,340,675.25 yuan, with a net profit of 49,460,606.40 yuan, contributing over 10% to the company's net profit[60]. - Xi'an International Medical Center Co., Ltd. reported total assets of 5,095,278,375.12 yuan and a net loss of 78,273,550.40 yuan during the reporting period[60]. - The company has established a comprehensive medical service platform with a capacity of 10,000 beds across its three major medical campuses[17]. - The company has a strong emphasis on high-quality medical service management, ensuring patient dignity and healthcare provider respect[33]. - The company has achieved full coverage of medical insurance across its institutions, enhancing its operational efficiency and service quality[43]. Environmental Compliance - The company is compliant with environmental regulations, holding valid discharge permits for its hospitals, with the latest permit for Xi'an International Medical Center Hospital valid until March 28, 2026[74]. - The company adheres to various pollution discharge standards, including those for waste gas, wastewater, and noise, ensuring no exceedance of emission limits reported[74]. - The company is focused on maintaining compliance with air and water quality standards as part of its operational strategy[75][76]. - The company emphasizes environmental sustainability and has made continuous investments in environmental protection and governance[82]. Shareholder and Governance - The company actively protects the rights of shareholders, investors, patients, and suppliers, ensuring compliance with relevant laws and regulations[83]. - The company has implemented a comprehensive human resources management system to safeguard employee rights and benefits[83]. - The company held its first temporary shareholders' meeting on March 21, 2024, with an investor participation rate of 32.32%[65]. - The company has no overdue commitments or non-operating fund occupation by controlling shareholders or related parties during the reporting period[84]. - The company reported no significant litigation or arbitration matters during the reporting period, with a total amount involved in ongoing cases of 1,227.23 million CNY[87]. Future Outlook - The company provided a future outlook with a revenue guidance of 10% growth for the next quarter, aiming to reach 8,138 million[104]. - The company plans to implement a new digital platform aimed at improving customer experience and operational efficiency, with an expected investment of 490 million[104]. - The company plans to continue its market expansion and product development strategies in the upcoming periods[149].

西安国际医学投资股份有限公司 《执行委员会工作细则》修订对照表 （2024 年 8 月） 根据《中华人民共和国公司法》《上市公司治理准则》《深圳证 券交易所股票上市规则》《西安国际医学投资股份有限公司章程》及 其他有关规定，拟对《执行委员会工作细则》中的部分条款进行修订， 具体修订内容如下： | 修订前 | 修订后 | | --- | --- | | 第一章 总则 | 第一章 总则 | | 第一条 为适应公司战略发展需要， | 第一条 为适应西安国际医学投资股 | | 规范公司的管理和运营，建立健全现代企 | 份有限公司（以下简称："公司"）战略 | | 业制度，完善公司法人治理结构，确保公 | | | 司战略管理上的有效性与质量，更好地贯 | 发展需要，规范公司的管理和运营，建立 | | 彻、执行股东大会、董事会决议，提高决 | 健全现代企业制度，完善公司法人治理结 | | 策效率和快速应变能力，根据《中华人民 | 构，确保公司战略管理上的有效性与质量， | | 共和国公司法》、《上市公司治理准则》、 | | | 《公司章程》及其他有关规定，公司特设 | 更好地贯彻、执行股东会、董事会决议， | | 立执行 ...

西安国际医学投资股份有限公司 《对外担保管理制度》修订对照表 （2024 年 8 月） 根据《中华人民共和国民法典》《中华人民共和国公司法》《中 华人民共和国证券法》《上市公司监管指引第 8 号—上市公司资金往 来、对外担保的监管要求》《深圳证券交易所股票上市规则》等法律、 法规、规范性文件以及《西安国际医学投资股份有限公司章程》的有 关规定，拟对《对外担保管理制度》中的部分条款进行修订，具体修 订内容如下： | 修订前 | 修订后 | | --- | --- | | 第一章 总则 | 第一章 总则 | | 第一条 为加强西安开元投资集团股 | 第一条 为加强西安国际医学投资股 | | 份有限公司（以下简称"公司"）内部控 | 份有限公司（以下简称："公司"）内部 | | 制，规范公司对外担保行为，维护投资者 | 控制，规范公司对外担保行为，维护投资 | | 利益，有效控制公司对外担保风险，保证 | | | 公司资产安全，促进公司健康、稳定地发 | 者利益，有效控制公司对外担保风险，保 | | 展，根据《公司法》、《证券法》、《担 | 证公司资产安全，促进公司健康、稳定的 | | 保法》等法律法规以及中国证监 ...

西安国际医学投资股份有限公司 《董事会秘书工作细则》修订对照表 （2024 年 8 月） 根据《中华人民共和国公司法》《深圳证券交易所股票上市规则》 《西安国际医学投资股份有限公司章程》（以下简称："公司章程"） 及其他有关规定，拟对《董事会秘书工作细则》中的部分条款进行修 订，具体修订内容如下： | 修订前 | 修订后 | | --- | --- | | 第一章 总则 | 第一章 总则 | | 第一条 为促进西安开元投资集团股 | 第一条 为促进西安国际医学投资股 | | 份有限公司（以下简称：公司）的规范运 | 份有限公司（以下简称："公司"）的规 | | 作，明确董事会秘书的职责权限，充分发 | 范运作，明确董事会秘书的职责权限，充 | | 挥董事会秘书的作用，根据《中华人民共 | 分发挥董事会秘书的作用，根据《中华人 | | 和国公司法》（以下简称：《公司法》）、 | 民共和国公司法》（以下简称：《公司法》）、 | | 《深圳证券交易所股票上市规则》（以下 | 《深圳证券交易所股票上市规则》（以下 | | 简称：《上市规则》）、《西安开元投资 | 简称：《上市规则》）、《西安国际医学 | | 集团股份 ...

西安国际医学投资股份有限公司 投资者关系管理制度 （第十三届董事会第二次会议修订通过） 第一章 总 则 第一条 为加强公司与投资者和潜在投资者（以下统称"投资者"） 之间的信息沟通，增强投资者对公司的了解和认同，促进公司诚信自 律、规范运作，完善公司治理结构，实现公司价值最大化和股东利益 最大化。根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司投资者关系管理工作指引》《深圳证券交易所股票上市规 则》《西安国际医学投资股份有限公司章程》（以下简称：《公司章 程》）及其他相关法律、法规的规定，结合公司实际情况，制定本制 度。 第二条 本制度是公司投资者关系管理的基本行为指南。公司应 当按照本制度的精神和要求开展投资者关系管理工作。 公司控股股东、实际控制人以及董事、监事和高级管理人员应当 高度重视、积极参与和支持投资者关系管理工作。 第二章 投资者关系管理的原则和目的 第三条 投资者关系管理是指公司通过便利股东权利行使、信息 披露、互动交流和诉求处理等工作，加强与投资者之间的沟通，增进 投资者对公司的了解和认同，以提升公司治理水平和企业整体价值， 实现尊重投资者、回报投资者、保护投资者目的的相关活 ...