Group 1: Company Overview - The company, originally established in 1959, was listed on the Shenzhen Stock Exchange on August 31, 2022, and specializes in inspection and testing certification services [1] - In 2024, the revenue breakdown is projected to be 69.22% from testing services, 15.82% from product sales, and 13.24% from specialized engineering services [1] - The company has received multiple accolades, including being recognized as a "National Advanced Unit in Construction Engineering Quality Testing" and a "Key High-tech Enterprise under the National Torch Program" [1] Group 2: Financial Performance - In 2024, the company reported a revenue of 1.354 billion yuan, a year-on-year decrease of 0.4%, and a net profit attributable to shareholders of 17 million yuan, down 83.59% [2] - For the first three quarters of 2025, the company achieved a revenue of 1.012 billion yuan, a year-on-year increase of 6.23%, and a net profit attributable to shareholders of 35 million yuan, up 67.12% [2] - The company’s cash flow from operating activities in 2024 was 94 million yuan, an increase of 130 million yuan year-on-year, and the asset-liability ratio stood at 28.73%, indicating a low level of debt [2] Group 3: Growth Strategy - The company is pursuing a dual strategy of "internal growth + investment and mergers" to accelerate market penetration and expand into Southeast Asia and the Middle East [2] - In August 2023, the company acquired 55% of Southwest Testing for 80.9 million yuan to expand its foundation and environmental testing business [2] - In October 2023, the company purchased 55% of Guanbiao (Shanghai) Testing Technology Co., Ltd. for 82.5 million yuan to strengthen its automotive testing market presence [2] Group 4: Future Projections - The company aims to achieve net profits attributable to shareholders of 75 million yuan, 120 million yuan, and 180 million yuan for the years 2025, 2026, and 2027, representing year-on-year growth rates of 354.2%, 60.1%, and 50.2% respectively [3] - Corresponding price-to-earnings ratios for these years are projected to be 38.62, 24.13, and 16.07 [3]
联检科技(301115)：外延并购助增长 科技赋能潜力大