Event: the company held the 12th meeting of the third session of the board of directors on August 13, 2020, which examined and passed the "motion on the appointment of deputy general manager of the company": in order to meet the needs of the company's operation and development, Ms. Chen Jing was hired as the deputy general manager of the company. in charge of medical service operation and management business.

The assisted reproduction expert serves as the vice president, and the strategy continues to advance.

According to the announcement, Ms. Chen Jing has 23 years of clinical experience in obstetrics and gynecology and more than 10 years of working experience in the field of assisted reproduction, and has served as the director of the Medical Department of Fujian Provincial people's Hospital and the vice president of Mei Nien Health Group. mainly responsible for the merger and acquisition of medical institutions and the integrated operation after acquisition; general manager of the department of women and children of Taihe Medical Group; general manager of Shanghai Aierbeijia Obstetrics and Gynecology Hospital General Manager of Shanghai Bei Yun Bang Health Technology Co., Ltd. Rich experience in the field of hospital management and assisted reproduction. The addition of professionals is expected to help the company's assisted reproductive strategy to better promote landing.

Long-term growth of two-wheel drive

The company implements the two-wheel drive strategy: in the field of CIS, it accelerates the development of "operating room", "ICU" and "emergency first aid", continuously strengthens the product advantages and market barriers in the operating room, improves the ICU market penetration, and uses the emergency first aid in the five specialty centers to realize the coordination between the hospital and the hospital. In the field of assisted reproduction, Hainan Mary Hospital as the starting point, including Beijing Guowei Hospital, Tianyuan Hospital is an important layout in this direction. The industry concentration in the field of assisted reproduction is low, and the company is expected to achieve rapid expansion by means of extension with the help of the advantages of listing platform.

Investment advice:

Maintain the EPS of 0.67,0.81,0.95 yuan per share respectively from 2020 to 2022, and maintain the "overweight" rating.

Risk Tips:

Mary Hospital integrates the risk of falling short of expectations, the risk of systematic fluctuation in the market, the risk of intensified competition in the homemade software market, and the risk of shareholder reduction.