Analysis of Construction Progress and Financial Impact of Sanbo Brain Hospital's New Campuses

Based on the latest information I have collected, the following is a detailed update on the construction progress of each new campus of Sanbo Brain Hospital:

• Floor Area:
  63,000 square meters [0][1]
• Planned Beds:
  480 (the existing Beijing Sanbo old campus has 256 beds) [2]
• Latest Status:
  Has obtained medical practice license, in the final construction stage [1][2]
• Expected Operation Time:
  Commence operations in Q1 2026 [2]

• Number of class 100 clean operating rooms increased from 6 to 13 [2]
• Introduced high-end 3.0T MRI [2]
• 96-channel magnetoencephalography (MEG) equipment [2]
• Imported ROSA surgical robot [2]
• Imported electroencephalogram (EEG) detection system [2]

The new campus is positioned as a “large specialist, small general” hospital with neurological specialties as its core. Based on existing disciplines, it will focus on developing emergency medicine, critical care medicine, pain management, rehabilitation medicine, and traditional Chinese medicine departments [2]

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• Relocation Time:
  Officially relocated to the new campus in May 2025 [3][4]
• Planned Beds:
  200 [2]
• Operation Status:
  Already in operation, with a significant increase in business volume compared to the old campus [3]

• Added cardiology department [3]
• Purchased medical linear accelerator [3]
• Gamma knife equipment [3]
• Hyperbaric oxygen chamber and other large-scale medical equipment [3]
• Significant improvement in hospital environment [3]

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• Opening Time:
  Officially opened for operation in September 2025 [3][4]
• Planned Beds:
  200 [2]
• Operation Status:
  Currently in the ramp-up phase [3]

• Still requires time for market cultivation [3]
• Patient referral efforts are ongoing [3]
• Current patient volume and ward occupancy rate have not yet reached full capacity [3]

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Indicator	Value	Year-on-Year Change
Total Operating Revenue	RMB 1.273 billion	~20% year-on-year increase
Net Profit Attributable to Parent Shareholders	RMB 83.6282 million	20.01% year-on-year decrease
Q3 Single-Quarter Net Profit	RMB 13.93 million	63.26% year-on-year decline

• The company’s interest-bearing liabilities surged to RMB 375 million, representing a year-on-year increase of over 500% [1]
• Before the new campuses generate large-scale revenue, pre-operation investments will continue to impact profit performance [1]

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Campus	Number of Beds
Beijing Sanbo Old Campus	256
Beijing Sanbo Dongba New Campus	480
Kunming Sanbo	200
Fujian Sanbo	300
Chongqing Sanbo Jiangling	400
Chongqing Sanbo Chang’an	486
Henan Sanbo	160
Luoyang Sanbo	260
Chengdu Dongli	502
Xi’an Sanbo	200
Total	2,988

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Sanbo Brain Hospital is currently in the

. The Kunming Sanbo New Campus has successfully relocated and achieved increased business volume; the Xi’an Sanbo New Campus has just opened and is in the market cultivation phase; the Beijing Dongba New Campus has completed main construction and is expected to officially commence operations in Q1 2026. Overall, the company adopts a expansion model. The concentrated construction of new campuses creates certain short-term pressure on performance, but in the medium to long term, it will significantly enhance the company’s medical service capabilities and market coverage.

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[0] Sina Finance - Brain-Computer Interface Concept Surges, Sanbo Brain Hospital’s Stock Price Doubles (https://finance.sina.com.cn/jjxw/2026-01-17/doc-inhhqpcz4801027.shtml)

[1] Guancha.cn - Brain-Computer Interface Concept Surges, Sanbo Brain Hospital’s Stock Price Doubles (https://user.guancha.cn/main/content?id=1585212&s=fwtjgzwz)

[2] Securities Times Network - Sanbo Brain Hospital Interactive Q&A (https://www.stcn.com/quotes/index/sz301293.html)

[3] Securities Times Network - Sanbo Brain Hospital Investor Q&A (https://www.stcn.com/quotes/index/sz301293.html)

[4] Securities Times Network - Operation Status of New Campuses (https://www.stcn.com/quotes/index/sz301293.html)