Main points of investment
The company announced that the company achieved revenue of 316 million in 2015, an increase of 160.94% over the same period last year, and net profit belonging to shareholders of listed companies was 98.4 million, an increase of 183.16% over the same period last year. Revenue in the first quarter of 2016 reached 90.07 million, an increase of 43.2 percent over the same period last year; net profit belonging to shareholders of listed companies was 14.98 million, up 16.48 percent from the same period last year.
The performance is in line with expectations. The high performance growth in the past 15 years is mainly due to the consolidation effect of Qisheng information, and the steady growth in the first quarter of 16 years is mainly due to the merger of your six hospitals and the rapid growth of mobile resale business.
Main points:
The main contents are as follows: 1) the strategy of transforming Internet medicine is determined. The company withdrew its Internet community and entertainment business, and the steady development of phone-to-touch business provided cash flow support for the transformation of Internet health care. The company acquired Qisheng Information and Guiliu Hospital, and also set up a medical e-commerce company. The company's strategic transformation of Internet health care, the future will fully enjoy the industry trillion market space.
2) 39 healthy network card bit line entrance, the traffic value is huge. Under Qisheng Information, 39 Health Network has many sections, such as "Medical and Health Information", "39 ask Doctor", "Encyclopedia of Diseases", "Drug pass", "famous Medical online", etc., with leading content and users in the country. and has a long-term and stable cooperative relationship with more than 95% of the country's well-known third-class hospitals and well-known pharmaceutical companies, accumulating a large amount of medical and health information, the value is prominent.
3) acquire your six hospitals and cut into the core diagnosis and treatment business. By acquiring your sixth hospital and holding a scarce license for diagnosis and treatment, the company relies on the Internet hospital to carry out the secondary diagnosis and sinking medical service of difficult and severe cases based on the Internet, and to create an Internet medical ecological platform of the trinity of doctor, patient and medicine. there is a lot of room for imagination in the future.
4) it is estimated that the EPS in 16-18 is 0.34,0.41 and 0.50 yuan respectively, maintaining the "overweight" rating.
Risk hint: the innovation business is not progressing smoothly and the impact of national medical policies