CHANGHONG TECHNOLOGY(300151) 开源证券·2024-08-13 06:30Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Views - The company's performance in the first half of 2024 was under pressure, but it has entered a marginal improvement inflection point, maintaining its rare growth potential [3] - The company achieved a net profit attributable to shareholders of 0.44 million yuan, with a year-on-year increase of 9.21% [3] - The revenue from product sales was 2.93 billion yuan, a year-on-year decrease of 12.13%, while the revenue from medical consumables increased by 18.12% year-on-year [3] - The company has signed a strategic cooperation framework with Fresenius, expanding its collaboration with international medical giants [3] - The company is expected to see significant growth in its wafer carrier and other product lines, with successful development and production already achieved [3] Financial Summary and Valuation Indicators - The total market value of the company is 82.96 billion yuan, with a circulating market value of 57.44 billion yuan [4] - The company's projected net profits for 2024, 2025, and 2026 are 1.21 billion yuan, 1.69 billion yuan, and 2.40 billion yuan respectively, with corresponding EPS of 0.23, 0.32, and 0.45 yuan [3][5] - The company's P/E ratios for 2024, 2025, and 2026 are projected to be 68.8, 49.0, and 34.6 respectively [5] - The company's revenue is expected to recover from 931 million yuan in 2023 to 1.209 billion yuan in 2024, with a year-on-year growth of 29.8% [5]