CTI(SZ:300012) Xin Lang Cai Jing·2025-10-21 12:34Core Viewpoint - Company expects a net profit of 341.12 million to 350.42 million yuan for Q3 2025, representing a year-on-year growth of 10%-13% driven by lean management, digital transformation, and strategic acquisitions [1] Group 1: Financial Performance - For H1 2025, company reported revenue across five major business segments: Life Sciences at 1.273 billion yuan (+1.11%), Industrial Testing at 601 million yuan (+7.47%), Consumer Product Testing at 522 million yuan (+13.15%), Trade Assurance at 426 million yuan (+13.48%), and Pharmaceutical & Medical Services at 137 million yuan (+1.30%), all showing positive growth [1] - Company anticipates contributions from strategic acquisitions and international expansion in Q4 2025 [1] Group 2: Strategic Acquisitions - In 2025, company has acquired ALS Group's branch in China, Openview in Shenzhen/Hong Kong, Laboratoire MIDAC in France, and signed agreements for acquiring Safety SA in South Africa and Emicert in Greece, indicating a focus on international expansion [2] - The company aims to leverage its early acquisitions to solidify its position as a leading player in the testing and inspection industry [2] Group 3: Industry Trends - The testing and inspection industry achieved a revenue of 487.597 billion yuan in 2024, growing by 4.41%, with a slowdown in growth compared to 2023 [3] - The number of accredited testing institutions in China decreased by 1.44% in 2024, marking the first decline, suggesting a shift from rapid expansion to a focus on existing market competition [3] - As a leading testing institution, company is expected to benefit from scale effects in a competitive environment [3] Group 4: Investment Outlook - Company is projected to achieve net profits of 1.031 billion, 1.206 billion, and 1.348 billion yuan for 2025, 2026, and 2027 respectively, with a "recommended" rating [4]