BSBE(SZ:300406) EBSCN·2024-06-26 04:02Investment Rating - The report maintains a "Buy" rating for the company, with a current price of 14.91 RMB [8]. Core Views - The continuous increase in the shareholding ratio by Guoyao Investment reflects confidence in the company's development and value recognition [2][5]. - Guoyao Investment plans to further increase its stake in the company, with a minimum investment of 30 million RMB from June 25, 2024, to December 24, 2024, indicating a commitment to empower the company for future growth [2][4]. - The collaboration between the company and Guoyao Group is expected to leverage advantages in channels and cross-sector mergers, potentially establishing the company as a key player in Guoyao Group's IVD industrial platform [2][5]. Financial Summary - The company’s projected net profit for 2024-2026 is 630 million, 763 million, and 920 million RMB, respectively, with corresponding P/E ratios of 14, 11, and 10 times [6]. - Revenue is expected to grow from 1,511 million RMB in 2022 to 2,734 million RMB in 2026, with a compound annual growth rate (CAGR) of approximately 16.53% [7][18]. - The net profit margin is projected to increase from 25.8% in 2022 to 33.6% in 2026, indicating improving profitability [18].