锦欣生殖2024年报

Jinxin Fertility Group Limited* 01951 246713344385102107109111114117230 ARSARS ARS2021IVF202222025VIPARS202220234ARSARSHRC Medical2024HRC Medical5HRC Medical1220247HRC MedicalBeverly hills202412 202311Warburg Pincus 20247PT Morula IndonesiaMorulaIVFMorula199710IVFMorulaPT Bundamedik TbkBundamedikBundamedik19732021Morula 20217202283120247 20242025 John G. Wilcox John G. Wilcox 2025328 John G. Wilcox Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way, 802 West Bay Road,Grand CaymanKY1-1205Cayman Islands John G. Wilcox •8835 301 1191907B 1951 www.jxr-fertility.com Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way, 802 West Bay Road,Grand CaymanKY1-1205Cayman Islands 183171712–1716 826 18 2019— — 20045% (2016–2019) 20162017IVFHRC20182019 20162019 200420042016 2020CEOHRC201620192016 1 2 3 405050%IVF20212022202327,35426,125 30,240202428,443 CEO2019 2024860% 2-37 2024— 2019 — 0.5%Illumina NGS202460% --70%IVFIVFIVF2,000500IVFDNA 15%1%-3%MDT30%45% 20212023 2024 AI— 2024DeepseekAI2021CRM 50% PGTCRM 2016 — 20192024 HRCHRC—36 HRC 81,200 2025 7242025 — 2026 20257 124 2025 — 200 2,000IVF10 —12EV/EBITDA15 — 18+10 — 1230,00015EV/EBITDA 4 4,000+10 207020902,5002016201420162016201620231,500900200020151,60020252040 20162023ARS36%33%202319% 20252 2820242024(i)20241,408.32023139(ii)20249542023526.77‰(iii)20241,0937.76‰(iv)2024-0.99‰2021 20217202399.6316.515003 20228312024 20241041320241127202412 112025 2025 20253 7 20253 1310,00050,000100,000 2024 •20242 182024 •20246 62024•20247 21•20248 30 •20249 13202412 19 ——IOTMSAIOT/MSA (1)IOT/MSAIOT/MSA2024544.82023565.6 202315,96213.0%202413,884202411202412 311,472.6202312 311,470.8VIP 20241,0002024IVF7020||IVF+MDTVIP2024VIP20.1% 2024 20236,2988.4%20245,769202312 31474.11.1%202412 31468.82024102024VIP7.1% IVFVIP2025 20234,2610.4%20244,242202312 31273.72.9%202412 31265.9ARS30.6% IVFIVFPRP IVF 20233,84718.2%20244,548202312 31570.36.0%202412 31604.4HRC Medical202316.2%HRC Medical59.7%20238 IVF/ICSIIVF/ICSI80%3,000IVF/ICSI21%202412 31232027402.8Morula40%ARS IPIP (i)(in vitro activation, IVA)(Platelet-Rich PlasmaPRP)(ii)(iii)(iv)2024(v) (AI)CD138+ 2024 2024 312024 02.0 IVFWarburgPincus202311 HRCMedical2024HRC Medical5HRC Medical12HRC Medical20247HRC MedicalBeverly hills2024122025 20247Jinxin Life Asia Healthcare Investment Group Pte. Ltd.PTMorulaIndonesiaMorula30%Morula199710IVFMorulaPT Bundamedik TbkBundamedikBundamedik19732021ITMorula (i)(ii) 202220222 1720246 25(i)(ii)(iii)202220245 31 HRCManagementHRCManagementIVF3IVFHRCMedical (ESG) ESGESGESG2024 202312 312,788.922.70.8%202412312,811.6202420236.3%(i)5.5%(ii)VIP2.0%2.8%(iii)18.2%2024 22.7(i)50.0(ii)6.6(i)20.8(ii)ARS3.6(iii)9.5 202312 311,613.56.1%202412 311,712.1 202312 311,175.46.5%202412 311,099.5202312 3142.1%2024123139.1%ARS 202312 3177.254.5%202412 3135.1 202412 3127.6 202312 3121.713.8%202412 3124.7 Yongsheng Hengfu Research Centre 202312 31191.98.7%202412 31175.2 202312 31481.44.9%20241231458.0 202312 3179.627.9%202412 3157.4 202312 31117.30.9%202412 31118.4 202312 3125.3%202412 3130.2%202310.4 202312 31347.021.2%202412 31273.5(i)20.2(ii)24.0(iii) EBITDAEBITDA 202312 31471.511.7%202412 31416.3 EBITDA202312 31781.29.5%202412 31707.3 202412 310.110.10202312310.130.1210202412310.16202312310.18 202312 3162.418.4%2024 12 3150.99.0 202312 31169.490.3%2024 12 31322.32024 202312 31805.18.4%2024 12 31737.8 201962,808.1202121,253.520213002022320231 56.725175,000,0001,162.31999.02023116202412 3150,0005,000,000,000202412 3131.0%69.0%2023123131.6%68.4%20241231563.5202412311,189.1 202412 31 202412 31334.9 2,270.1202312 312,127.5 202412 31 202412 31 202412 31 100%2024123115.1%2023 12 3114.3%Morula 202412 313,1982,84435420241231916.620231231890.03.0% 202220222 1720246 25202220245 3120246 30 202412 31202312 315.95 20256 26 20256 2320256 2620256 20183171712–1716 John G. Wilcox6220181225Wilcox19967HRC Medical20022008USCUSC Wilcox19861219905199119991112Wilcox 38202062920185 320206 2920213 28201710201812Jinxin Hospital Management Group Limited20189Jinxin InvestmentLimitedJinxin Hospital Management Group Limited2017720171120091020176PricewaterhouseCoopers 2009620143 442021123102018102015520215201732021112015520216 202110202162020112016 2018820223 56202132820202 21201872020120091220183199452006819911219944 1991720097 201922019102018720179201672018 5320253 2820176201892020620213 20202042016102019120161020181220151020169000567201342015102009320134 20045200510199852004519961019985 199320052012820052 4520181225201672011720019200611 2020120211060782015320168CBPO 2001720076 喆5120181225 2020041120118199682004110998 1996720039 55202132820189 122010320185320206 29201032015102018102006112010120002200611992120001 20016201511 60201963 2420154202062120201222015220041201212015219941120005 1986720045201311ISCTE — 512021831 2013 201320152008200920022004 1020122018160 —(3)(4)20