Allist(SH:688578) INDUSTRIAL SECURITIES·2024-08-27 09:48Investment Rating - The report maintains an "Add" rating for the company [2][4][11] Core Insights - The company has demonstrated sustained high growth in revenue and profit, with a significant increase in sales driven by the product Vomeletin, which has been approved for first-line treatment of EGFR mutation NSCLC and included in the national medical insurance directory [6][7][9] - The company achieved a revenue of 1.576 billion yuan in the first half of 2024, representing a year-on-year increase of 111%, and a net profit attributable to shareholders of 656 million yuan, up 215% year-on-year [6][7][9] - The gross margin remains high at 95.63%, with a notable decrease in sales, management, and R&D expense ratios, showcasing the benefits of scale [9] Financial Performance Summary - For 2024, the company expects earnings per share (EPS) of 2.76 yuan, with projected EPS for 2025 and 2026 at 3.21 yuan and 3.70 yuan respectively, corresponding to price-to-earnings ratios of 20.1X, 17.2X, and 15.0X based on the closing price on August 20, 2024 [4][9] - The company has achieved a continuous increase in sales revenue for 10 consecutive quarters, with a quarter-on-quarter revenue growth of 12% in Q2 2024 [7][9] - The report highlights the successful expansion of the product pipeline, including clinical trials for various indications and collaborations to enhance market presence [8][9]