锦欣生殖2024中期报告

Jinxin Fertility Group Limited* 01951 2024 24672139404244464876 ARSARS ARS2021IVF202222025VIPARS202220234ARSARSHRC Medical2024HRC Medical5HRC MedicalHRC ManagementIVF3IVFHRC Medical 202311Warburg Pincus 20247PTMorula IndonesiaMorulaIVFMorula199710IVFMorulaPT Bundamedik TbkBundamedikBundamedik19732021Morula 20217202281920247 John G. Wilcox John G. Wilcox John G. Wilcox Third Floor, Century Yard, Cricket SquareP.O. Box 902, Grand CaymanKY1-1103Cayman Islands 301 1191907B John G. Wilcox Tricor Services (Cayman Islands) LimitedThird Floor, Century Yard, Cricket SquareP.O. Box 902, Grand CaymanKY1-1103Cayman Islands 183171712–1716 826 •8835 1951 www.jxr-fertility.com 20241172023(i)20231,409.7210(ii)900546.39‰(iii)1,1107.87‰(iv)-1.48‰2021 20217202399.6316.515003 20228202371119 ——IOTIOT (1)IOTIOT2024287.42023283.8 (2) 20237,9424.7%20247,571ARS2023812.88.6%2024882.7ARS4.0%VIP202316.3%202419.5%14.9% 20232,8336.7%20243,0222023218.910.5%2024241.9VIP20237.2%20247.7% 20232,1001.6%20242,1332023139.26.6%2024130.062.8%27.5%43.1% 20231,85625.3%20242,3252023350.711.5%2024391.1HRCMedical8 ARSARSARS ARS IVFARS (i)(ii)(iii)(iv)(v)IVF MDTMDTMDTICU 2024 2024 202481202483113 02.0 WarburgPincus202311 HRC Medical2024HRC Medical5HRC MedicalHRC MedicalHRC MedicalBeverly hills2025HRC Medical47 20247Jinxin Life Asia Healthcare Investment Group Pte. Ltd.Morula30%Morula199710IVFMorulaBundamedikBundamedik19732021ITMorula 202220222172024625(i)(ii)(iii)20222024531 HRC ManagementHRC ManagementIVF3IVFHRC Medical (ESG) ESGESGESG2024 20231,333.98.2%20241,443.8 (i)ARS68.0(ii)3.5(iii)14.4(iv)12.9(v)11.0 2023769.611.8%2024860.7 2023564.33.3%2024583.042.3%40.4% 202347.544.2%202426.58.110.9 202310.62.8%202410.9 Yongsheng Hengfu Research Centre 202387.21.0%202486.36.5%6.0% 2023188.114.7%2024630215.730.71.7% 202342.733.3%202428.52024 202354.737.8%202475.4 202319.7%202428.4%37.1 2023223.815%2024190.325.3%13.2%HRC30.7 EBITDAEBITDA 2023255.01.8 %2024259.6 EBITDA2023394.16.1%2024418.1 EBITDA (1)(2) 2023123162.42.4%202463060.9 20231231169.463.9%2024630277.6 20231231805.17.7%2024630866.7 201962,808.1202121,253.52021300202232023156.725175,000,0001,162.31999.0202463050,0005,000,000,000202463030.8%69.2%2023123131.6%68.4%2024630419.72024630356.3 2024630 20246302,034.9202312312,127.5 2024630 2024630 2024630 100%202463013.7%2023123114.3%92.6 20246303,7793,4333462024371.52023366.31.4% 202220222172024625202220245312024630 20246302023630 C1 20246302 C32024630 2024630 2024630 2024630 13.51B(1) 2,808.12024630 2024630 (1)(i)20.0%561.6(a)(b)(c)(ii)5.0%140.4(2)(3)(4)(i)Jinxin Hospital Management Group LimitedIVF(ii)Jinxin Medical Management (BVI) Group Limited(5)(i)(ii)(iii) 202122Morgan Stanley & Co. International plc80,000,00015.8520212216.95 2021291,253.52021222021292024630 202315JINXIN Fertility Investment Group Limited(i)6.7252023157.09175,000,000(ii)175,000,000 20231920231161,162.3120231520231162024630 (1) 20244Morula30%Morula25%5%189.520247 2024630XVXV78352 (1)20246302,757,706,043(2)(i)6,500,000(ii)20226,623,611(3)John G. Wilcox202210,000,000(4)(i)6,678,500(ii)20225,419,318(5)(i)6,558,000(ii)20225,419,318(6)2022600,000 (1)51%2022(2)51% 2024630XVXV78352 18 2024630XV23336 (1)Jinxin Fertility BVI10%2024630 (2)HHLR Advisors, Ltd.HHLR Fund, L.P.HHLR Fund, L.P. 2024630XV23336 2019632024630 (1) (2) (a)(b)(c) (3) 238,081,58010%8.66%202411238,081,580 (4) 121%12 (5) 1.00 28 (6) (i)(ii) (7) 25 (8) (i)(ii)(iii) (9) 2024630 2019215 (1) (i)(ii)(iii) (2) (3) 32,981,3881.66%1.20% (4) (5) 15 (6) (7) 2024630 2024111,764,3601,764,360 (1) (2) (3)0.07% 2022 20222022217202220246252022202220222022 (1)2022 2022(i)2022(ii)(iii) (2)2022 202220222024531 (3) 202275,227,5143%20222.74%2022202220228,273,118202220220.3%(i)20229,374,2730.34%(ii)20228,273,1180.3% (4) 2022 (5)2022 (6) 2022 (7)2022 2022202220246302022 2022 (1) (2) (3)20222022 2022 (1) (2) (3)2024630202220224,000,000 40752024630343434 2410 34 2024829 20246 30 20246 30 (a)2022185,000,00012,644,0002023630(b)10%50% 20246 30 1. 201853221961320182019625 (i)(ii)(iii)(iv)(v)(vi) 62%202411 34 2024630989,123,000866,723,0001,231,671,000 1. 2024630419,659,0002024630356,340,0002024630150,000,0002024630 2024630 2. 202463020231231 202411 161177 3. 20242023630 202420236308 3. 2024630 3. 20246309,153,241,0004,113,106,000202312319,120,200,0004,110,042,000202463020231231 10% 4. 6. 20242023630 7. 8. 2024202363016.5% 2024202363021%8.84%20242023630 25%15%20081110% 9. 202312315.955150,000,00020232024625 2023630 20246302023630 10. 10. 2024202363018(b)17 20246302023 11. 67,056,000202363095,859,000 12. 12. (i)202212132,188,000(ii)20221212025113043,300,00039,520,000(iii)3,070,00021,876,00020233,025,00021,723,000IVFUniversal,LLC914,0006,513,0002023969,0006,708,00020262026202320262026 3090 HRC Management60365 60180 9091180180 13. iviiiii 13. (i)(i