Group 1 - The company has been deeply engaged in the cleanroom integration service sector for 17 years, established in 2008, and is recognized as a national high-tech enterprise with a full industry chain capability covering design, construction, procurement, and after-sales service [1] - The company has a strong growth in the medical cleanroom market, with a backlog of orders increasing from 1.727 billion yuan in 2022 to 3.706 billion yuan in the first half of 2025, ensuring sustained growth in its medical business [1] - The company has successfully entered the electronic cleanroom sector by leveraging its experience in the medical field, establishing an electronic division in 2024, and winning multiple projects from high-level clients [2] Group 2 - The company is expected to achieve revenues of 2.542 billion yuan, 3.547 billion yuan, and 4.598 billion yuan for the years 2025 to 2027, representing year-on-year growth rates of 49%, 40%, and 30% respectively [2] - The projected net profit attributable to the parent company for the same period is expected to be 153 million yuan, 225 million yuan, and 332 million yuan, with year-on-year growth rates of 129%, 47%, and 47% respectively [2] - The company's reasonable market value is estimated at 5.1 billion yuan, indicating a potential upside of approximately 43% relative to its market value as of September 15, 2025, leading to a "buy" rating [2]
华康洁净(301235)：深耕洁净室集成服务 “医疗+电子”两翼齐飞