大行評級 | 華興資本:平安好醫生(1833.HK)業務升級推動可持續增長,獲華興資本重申買入評級,目標價90.26港元
格隆匯9月3日 | 平安好醫生業績公佈後,華興資本點評稱其2021年上半年營收38.18億元,同比增39%,超出市場預期。其中,醫療服務、消費者醫療保健、在線商城、健康管理和健康等分別同比增50.6%、66.1%、27.9%和11.2%,所有業務部門的收入均持續增長。
華興資本認為平安好醫生醫療服務和消費者醫療保健業務將在2021年下半年和2022年實現持續增長。醫療服務方面,為了吸引新會員加入,公司削減了首次訂單價格,平安醫療計劃進一步加強與三級甲等醫院的合作。消費醫療方面,隨着新冠肺炎疫情在中國基本得到控制,線下消費服務逐步恢復。平安好醫生增加了與線下網絡的合作,並提供了新的服務,如牙科檢查和醫療美容服務。
另外,平安好醫生增強與母公司的協同作用,並改進向企業客户提供的服務。如正通過多種渠道,在平安集團內部探索醫療服務與金融保險服務之間的協同效應,以吸引優質客户。這包括在平安人壽的重症保單中增加臻享RUN服務,以及現有的健康衞士360服務,並與平安健康合作推出E生寶門診服務。此外,該公司認為,企業客户,尤其是大型國有企業、民營企業和跨國公司,是一個新興的渠道,有大量需求尚未得到滿足。
華興資本重申對平安好醫生“買入”評級,目標價90.26港元。
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