Key points of investment
The company issued an announcement: Net profit attributable to shareholders of listed companies in the first quarter is expected to increase by 0% to 30% over the same period last year, and net profit for the same period last year was 12.86 million yuan
The performance was in line with expectations, and overall performance increased steadily. The company's various businesses operated normally in the first quarter. Revenue from the counterparty business was stable, and revenue from the mobile resale business increased significantly. 39 Health Network, a subsidiary of Qisheng Information, continued to maintain a good level of profit.
Key points:
1) The company acquired the offline Guiliu Hospital, and the strategic direction of Internet medical care was determined. The company's strategic development of Internet healthcare is mainly due to: on the one hand, the company's main telephone-to-peer business was impacted by WeChat, Momo, etc., which fell 19% year on year in 2014, and is expected to continue to shrink in the future; on the other hand, as China's population aging accelerates, the number of patients is increasing day by day, and domestic medical resources are scarce, so Internet healthcare is expected to usher in major development opportunities, and the future is broad.
2) Building Internet healthcare online and offline, the prospects are promising. First, by acquiring 39 Health Network, the largest health portal with the largest number of content and users, the company has taken up abundant entry resources online; secondly, it acquired Guiliu Hospital and held scarce licenses for diagnosis and treatment, thus relying on Internet hospitals to carry out O2O diagnosis and treatment and health management services, creating an Internet medical ecosystem platform integrating medicine, patients, and medicine. There is huge room for imagination in the future.
3) EPS is expected to be 0.24 yuan, 0.30 yuan, and 0.38 yuan respectively in 15-17, maintaining the “increase in holdings” rating.
Stock price performance catalyst: Internet medical business progressed beyond expectations
Risk warning: Innovation business is not progressing smoothly, the impact of national health-related policies