Aier Eye Hospital Group's market expansion strategy to repel weak economy

The hospital group recorded 17.2% rise in total revenue in Q3 2023.

China-based Aier Eye Hospital Group can combat the weak economic conditions with strategic acquisitions and organic growth, said UOBKayHian.

The brokerage report indicated that Aier has been focusing in overseas markets, which contribute over 11% of its total revenue. The group is also seeking to further grow its global business, aiming 30% of total revenue from overseas markets within the next five years.

Locally, the group is seeing strong demand in eye services in China, where Aier wants to focus on ophthalmology marketing education and digital marketing activities to further enhance its position in this sector.

When it comes to profit, its net profit went up 37.8% year-on-year to RMB1.56b and adjusted earnings found substantial increase of 20.1% YoY.

Aier recorded RMB5.8b in the third quarter of 2023.