根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关法律、法规和规范性文件的规定，公司在回购期间应 当在每个月的前三个交易日内披露截至上月末的回购进展情况。现将公司截至上 月末的回购进展情况公告如下：截至 2024 年 8 月 31 日，公司通过回购专用证券 账户以集中竞价交易方式实施股份回购，回购股份数量为 400,000 股，占公司目 前总股本的 0.0238%，最高成交价为 10.49 元/股，最低成交价为 10.28 元/股， 成交均价 10.38 元/股，成交总金额为 415.23 万元（不含交易费用）。本次回购 符合《回购公司股份方案》及相关法律法规的规定。 二、其他说明 公司首次回购股份的时间、回购股份数量及集中竞价交易的委托时间均符合 证券代码：300012 证券简称：华测检测 公告编号：2024-046 华测检测认证集团股份有限公司 关于回购股份的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 华测检测认证集团股份有限公司（以下简称"公司"）于 2024 年 7 月 2 日 召开第六届董事会 ...

Financial Performance - In the first half of 2024, Huace achieved revenue of CNY 2.791 billion, a year-on-year increase of 9.20% [1] - Net profit attributable to shareholders reached CNY 437 million, up 1.97% year-on-year; non-recurring net profit was CNY 403 million, an increase of 4.74% [1] - The overall gross margin improved to 49.52% [1] - In Q2 2024, revenue was CNY 1.599 billion, a year-on-year growth of 11.14%; net profit was CNY 304 million, up 7.09% [1] Segment Performance - Life Sciences segment revenue was CNY 1.259 billion, a growth of 21.68% [2] - Industrial Testing segment revenue reached CNY 559 million, increasing by 13.80% [2] - Consumer Products Testing segment revenue was CNY 462 million, a decline of 3.88% [1] - Trade Assurance segment revenue was CNY 375 million, showing stable growth [1] Strategic Developments - Huace is focusing on digital transformation and has expanded its digital services across various sectors, including healthcare, finance, and education [2] - The company is actively pursuing opportunities in the dual carbon and ESG fields, contributing to its growth [5] - Huace has established a comprehensive service capability in the agricultural sector, enhancing its competitive edge [3] Challenges and Outlook - The medical and health services segment faced a decline in revenue, particularly in the pharmaceutical testing area, which is expected to recover in the long term [7] - The company is managing cash flow effectively, with a net cash flow from operating activities of CNY 22.21 million in the first half of 2024 [7] - Huace anticipates stable or improved performance across its product lines in the second half of 2024 [5]

Investment Rating - The report maintains a Neutral rating for the company [1][3][7]. Core Insights - The company reported a revenue of RMB 27.91 billion and a net profit of RMB 4.37 billion for the first half of 2024, reflecting a year-on-year growth of 9% and 2% respectively, which aligns with forecasts [1][3]. - The second quarter of 2024 saw revenue and net profit of RMB 15.99 billion and RMB 3.04 billion, showing a year-on-year increase of 11% and 7% respectively [1][3]. - The life sciences and industrial testing segments experienced steady growth, while the pharmaceutical and semiconductor sectors faced challenges [1][3][7]. - The gross margin improved by 2 percentage points in the second quarter, attributed to efficiency gains from digitalization and the expansion of higher-margin chemical testing services [1][3]. - The company anticipates a slight improvement in performance for the second half of 2024, driven by accelerated growth in traditional food and environmental testing [1][3]. Summary by Relevant Sections Financial Performance - For the first half of 2024, the company achieved a revenue of RMB 27.91 billion and a net profit of RMB 4.37 billion, with respective year-on-year growth rates of 9% and 2% [1]. - The second quarter results were RMB 15.99 billion in revenue and RMB 3.04 billion in net profit, with year-on-year growth of 11% and 7% [1][3]. Segment Performance - Life Sciences: Revenue grew by 22% year-on-year in the first half and 23% in the second quarter, driven by traditional food and environmental testing [1][3]. - Industrial Testing: Revenue increased by 14% year-on-year in the first half and 8% in the second quarter, supported by digitalization and carbon emission certification [3]. - Pharmaceutical Sector: Revenue declined by 34% year-on-year in the first half and 15% in the second quarter, although the decline rate narrowed in the second quarter [3]. Future Outlook - The company expects a decrease in revenue contribution from soil testing in the second half, but anticipates accelerated growth in traditional food and environmental testing [1][3]. - The management forecasts a stable growth of approximately 20% in the traditional consumer testing segment and a recovery in semiconductor testing [2][3]. Valuation - The report adjusts the earnings per share forecast for 2024-2027 upwards by 1% to 2%, reflecting the company's performance and outlook, with a 12-month target price raised to RMB 15.0, based on a 21x P/E ratio for 2025 [3][4].

Financial Data and Key Metrics Changes - In the first half of 2024, the company achieved revenue of 2.79 billion yuan, representing a year-on-year growth of 9.2%, and a net profit of 437 million yuan, with a year-on-year increase of 1.97% [1][3] Business Line Data and Key Metrics Changes - The Life Sciences segment generated revenue of 1.259 billion yuan, up 21.68% year-on-year [4][6] - The Industrial Testing segment reported revenue of 559 million yuan [4] - The Consumer Products segment saw revenue of 462 million yuan, a decline of 3.88% [5] - The Trade Assurance segment achieved revenue of 375 million yuan, a slight increase of 0.3% [5] - The Medical and Health segment's revenue was 136 million yuan, down 34.2% [5] - The Environmental segment is expected to maintain annual revenue between 300 million to 400 million yuan [1][15] Market Data and Key Metrics Changes - The company noted strong growth in the digital carbon reduction sector within the Industrial Testing segment [1][15] - The Medical Devices sector is projected to grow over 30% [21] Company Strategy and Development Direction - The company is focusing on digital transformation, lean management, and talent empowerment to enhance operational efficiency and achieve sustainable development [2] - The strategy includes a combination of organic growth and acquisitions to adjust strategic layouts and drive business growth [1][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the medium to long-term development of the Medical and Health segment despite current challenges, citing the aging population as a positive factor [7] - The company is taking systematic measures to manage accounts receivable and improve cash flow amid economic pressures [22] Other Important Information - The company is facing challenges with increased bad debts, particularly from government and state-owned enterprise clients, which has impacted profits [16] - The company is optimistic about the future performance of the Weishibo segment despite current losses [18] Q&A Session Summary Question: Does the company have a long-term strategic plan? - The company is committed to enhancing operational efficiency and organizational capabilities through digital transformation and talent empowerment [2] Question: How did the company perform in the first half of 2024? - The company reported strong performance with revenue of 2.79 billion yuan and net profit of 437 million yuan, indicating quality and sustainable growth [3] Question: What are the highlights of the Life Sciences segment? - The Life Sciences segment benefited from strong performance in soil testing and marine environment testing, achieving double-digit growth [6] Question: What is the outlook for the Medical and Health segment? - Despite current challenges, the company remains optimistic about the medium to long-term growth of the Medical and Health segment [7] Question: How is the company managing accounts receivable and cash flow? - The company is implementing systematic measures to control and improve accounts receivable, with cash flow expected to improve in the coming months [22]

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company's performance in the first half of 2024 aligns with market expectations, driven by strong growth in the life sciences and industrial testing sectors [1][2] - The company has a forward-looking strategy focusing on emerging businesses and international expansion, which is expected to sustain long-term growth [1][2] Financial Performance Summary - In H1 2024, the company achieved total revenue of 2.79 billion yuan, a year-on-year increase of 9.2%, and a net profit attributable to shareholders of 440 million yuan, up 2.0% year-on-year [2][7] - The life sciences segment reported revenue of 1.26 billion yuan, growing 21.7% year-on-year, while the industrial testing segment saw revenue of 560 million yuan, up 13.8% year-on-year [2][7] - The gross profit margin for H1 2024 was 49.5%, with a slight year-on-year increase of 0.1 percentage points, while the net profit margin was 15.7%, down 1.5 percentage points year-on-year [2][7] Business Segment Performance - The life sciences and industrial testing segments showed strong performance, while the consumer products testing segment experienced a decline of 3.9% year-on-year [2][7] - The trade assurance segment grew by 9.3% year-on-year, while the pharmaceutical and medical services segment saw a significant decline of 34.2% year-on-year due to the base effect from nucleic acid testing [2][7] Future Outlook - The company is actively pursuing mergers and acquisitions to enhance its capabilities in strategic emerging fields such as semiconductor testing and low-altitude economy [1][2] - The internationalization strategy is progressing, with Singapore set as the overseas operational headquarters to expand into Southeast Asia and other regions [1][2] Earnings Forecast and Valuation - The report forecasts net profits attributable to shareholders for 2024, 2025, and 2026 to be 1.06 billion yuan, 1.23 billion yuan, and 1.43 billion yuan, respectively [1][2] - The current market capitalization corresponds to a price-to-earnings ratio of 19, 16, and 14 times for the years 2024, 2025, and 2026 [1][2]

Investment Rating - The investment rating for the company is "Outperform the Market" [4][12]. Core Views - The company's revenue for the first half of 2024 increased by 9.20% year-on-year, while the net profit attributable to shareholders grew by 1.97%. The second quarter showed signs of recovery with a net profit growth of 7.09% year-on-year [1][2]. - The company is a leading third-party comprehensive testing service provider, demonstrating strong operational resilience as its second-quarter performance stabilized despite high base effects [1][2]. - The company is actively repurchasing shares to enhance investor confidence, with plans to buy back 2-3 million shares at a maximum price of 16.83 yuan, totaling up to 50.49 million yuan [1]. Financial Performance Summary - In the first half of 2024, the company achieved a revenue of 2.791 billion yuan, with a net profit of 437 million yuan. The revenue for the first and second quarters was 1.192 billion yuan and 1.599 billion yuan, respectively, showing year-on-year growth of 6.70% and 11.14% [1][2]. - The gross margin improved in the second quarter, with first and second-quarter gross margins at 45.28% and 52.68%, reflecting a year-on-year change of -1.86 and +1.59 percentage points [1]. - The life sciences testing segment performed well, with revenue growth of 21.68% to 1.259 billion yuan, while the industrial product testing segment grew by 13.80% to 559 million yuan [1][2]. Earnings Forecast and Financial Metrics - The company forecasts net profits of 1.003 billion yuan, 1.148 billion yuan, and 1.316 billion yuan for 2024, 2025, and 2026, respectively, corresponding to PE ratios of 20, 17, and 15 times [1][2][12]. - The projected revenue for 2024 is 6.218 billion yuan, with a year-on-year growth of 10.9% [2][13].

Investment Rating - The investment rating for the company is "Buy" [7][10] Core Views - The macroeconomic environment in 2024 is expected to remain relatively low, with overall downstream demand weakening. However, soil testing and aviation testing are anticipated to bring incremental growth to the company [3][10] - The company achieved a revenue of 2.791 billion yuan in H1 2024, representing a year-on-year growth of 9.2%, and a net profit of 437 million yuan, up 1.97% year-on-year [10] - The company is projected to have revenues of 6.431 billion, 7.246 billion, and 8.187 billion yuan for 2024, 2025, and 2026 respectively, with a compound annual growth rate (CAGR) of 16.57% [3][10] Summary by Sections Financial Performance - In H1 2024, the company reported revenue growth across several segments, with life sciences testing growing by 21.68% and industrial testing by 13.8%. However, the medical testing segment faced a decline of 34.21% due to industry downturns [10] - The gross margin for H1 2024 was 49.52%, with a slight year-on-year decrease of 0.15 percentage points, while the net margin was 15.68%, down 1.49 percentage points [10] - The company has a total share capital of 1,682.83 million shares and a circulating market value of 17,066.69 million yuan [7] Business Segments - The soil testing segment performed exceptionally well, winning multiple contracts across various provinces, contributing to a higher gross margin due to economies of scale [10] - The life sciences testing segment is expected to continue to grow as the company invests in more niche areas within food safety testing [10] Future Projections - The company forecasts revenues of 6.431 billion, 7.246 billion, and 8.187 billion yuan for 2024, 2025, and 2026 respectively, with net profits of 1.034 billion, 1.231 billion, and 1.442 billion yuan for the same years [11][10] - Earnings per share (EPS) are projected to be 0.61, 0.73, and 0.86 yuan for 2024, 2025, and 2026 respectively [3][10]

Investment Rating - The investment rating for the company is "Outperform the Market" [2][8] Core Views - The company reported a revenue of 2.791 billion yuan for H1 2024, representing a year-on-year increase of 9.2%, with a net profit attributable to the parent company of 437 million yuan, up 1.97% year-on-year. In Q2 2024, the revenue was 1.599 billion yuan, an increase of 11.14% year-on-year, and the net profit was 304 million yuan, up 7.09% year-on-year [5][6] - The gross margin improved in Q2 2024, with a gross margin of 52.68% and a net margin of 19.17%, reflecting a quarter-on-quarter increase of 7.4% and 8.17% respectively [5][6] - The company is expanding into new fields, particularly in the semiconductor and medical sectors, which are expected to drive long-term growth despite short-term pressures in the medical services segment [6][10] Summary by Sections Financial Performance - For H1 2024, the company achieved a gross margin of 49.52% and a net margin of 15.68%, with a slight year-on-year change of +0.15% and -1.48 percentage points respectively [5] - The company’s operating cash flow for H1 2024 was 22 million yuan, a decrease of 86.72% year-on-year, while Q2 2024 saw a cash inflow of 192 million yuan, an increase of 0.43% year-on-year [5][6] Business Segments - Life Sciences segment revenue was 1.259 billion yuan, up 21.68% year-on-year, with a gross margin of 49.42% [5] - The Pharmaceutical and Medical Services segment reported revenue of 136 million yuan, down 34.21% year-on-year, with a gross margin of 24.31% [5] - Industrial Testing revenue was 559 million yuan, up 13.8% year-on-year, with a gross margin of 45.45% [5] - Consumer Testing revenue was 462 million yuan, down 3.88% year-on-year, with a gross margin of 43.23% [5] - Trade Assurance revenue was 375 million yuan, up 9.3% year-on-year, with a gross margin of 72.73% [5] Future Outlook - The company is expected to achieve revenues of 6.329 billion yuan in 2024, 7.010 billion yuan in 2025, and 7.766 billion yuan in 2026, with year-on-year growth rates of 12.9%, 10.8%, and 10.8% respectively [8][9] - The net profit forecast for 2024 is 1.014 billion yuan, with expected growth rates of 11.4%, 13.9%, and 11.9% for the following years [8][9] - The company is positioned to benefit from its strategic investments in new areas, particularly in semiconductor testing and medical services, which are anticipated to enhance its long-term growth potential [6][10]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 15.42 CNY per share based on a 25x PE valuation for 2024 [3][6]. Core Views - The company is expected to achieve a net profit attributable to shareholders of 1.038 billion CNY in 2024, with projections of 1.208 billion CNY in 2025 and 1.402 billion CNY in 2026 [2][6]. - The report highlights strong performance in the environmental testing segment, driven by the successful bidding and implementation of projects, particularly in the soil testing area [7][8]. - The company is actively expanding its product lines and diversifying its business, including acquisitions to enhance digital transformation capabilities across various industries [7][8]. Financial Summary - Revenue for 2024 is projected at 6.343 billion CNY, reflecting a growth rate of 13.2% [2][8]. - The company reported a revenue of 2.791 billion CNY for the first half of 2024, a year-on-year increase of 9.2%, with a net profit of 437 million CNY, up 1.97% [7][8]. - The EBITDA for 2024 is estimated to be 1.813 billion CNY, with a steady increase in subsequent years [2][8]. - The report indicates a stable growth in major business segments, with the life sciences segment showing a revenue increase of 21.68% year-on-year [7][8].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 17.7, slightly down from the previous target of RMB 18.6 [4]. Core Views - The company reported a revenue of RMB 27.91 billion for 1H24, representing a year-over-year increase of 9%, with a net profit of RMB 4.37 billion, up 2% year-over-year. The second quarter showed stronger growth, with revenue of RMB 15.99 billion, up 11% year-over-year and 34% quarter-over-quarter, and a net profit of RMB 3.04 billion, up 7% year-over-year and 129% quarter-over-quarter [1][3]. - The report anticipates a compound annual growth rate (CAGR) for net profit of no less than 13% from 2024 to 2026, supported by the company's diversified business layout and strong anti-cyclical capabilities [1][4]. Summary by Sections Financial Performance - For 1H24, the company achieved a revenue of RMB 27.91 billion and a net profit of RMB 4.37 billion, with a net profit margin of 15.7% [1]. - The second quarter saw a significant increase in revenue and net profit, indicating a strong recovery and operational efficiency [1][3]. Segment Analysis - Life Sciences: Revenue of RMB 12.59 billion (up 22% year-over-year), gross margin of 49.4% (up 1.4 percentage points) [2]. - Pharmaceutical and Medical Services: Revenue of RMB 1.36 billion (down 34% year-over-year), gross margin of 24.3% (down 25.2 percentage points) [2]. - Industrial Testing: Revenue of RMB 5.59 billion (up 13.8% year-over-year), gross margin of 45.5% (up 2.5 percentage points) [2]. - Trade Assurance: Revenue of RMB 3.75 billion (up 9.3% year-over-year), gross margin of 72.7% (up 3.1 percentage points) [2]. - Consumer Product Testing: Revenue of RMB 4.62 billion (down 3.9% year-over-year), gross margin of 43.2% (down 1.0 percentage point) [2]. Profitability and Valuation - The report projects a slight adjustment in profit forecasts, with expected net profits of RMB 10.0 billion, RMB 11.8 billion, and RMB 13.1 billion for 2024, 2025, and 2026 respectively [1][4]. - The company is valued at a PE ratio of 30x for 2024, with a target price reflecting a premium due to its market leadership and diversified business model [4][15].