DIAN DIAGNOSTICS(SZ:300244) Xinda Securities·2024-08-28 07:41Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a revenue of 6.218 billion yuan for the first half of 2024, representing a year-over-year increase of 9.12%, while the net profit attributable to the parent company was 72 million yuan, a decrease of 84.17% year-over-year [1] - The company aims to position itself as a "provider of integrated medical diagnostic solutions" and has launched 176 new testing projects in the first half of 2024, with diagnostic service revenue reaching 2.362 billion yuan [1] - The company's ICL business showed steady growth, with revenue of 2.188 billion yuan, an increase of 6.32% year-over-year [1] - The special inspection business revenue reached 961 million yuan, accounting for 40.69% of the diagnostic service revenue, an increase of 1.19 percentage points from the end of 2023 [1] - The company is accelerating its digital transformation to enhance operational efficiency, with significant improvements in laboratory automation and AI-driven testing capabilities [1] Financial Summary - The company expects revenues for 2024-2026 to be 13.275 billion, 14.444 billion, and 15.779 billion yuan, with year-over-year growth rates of -1.0%, 8.8%, and 9.2% respectively [2] - The net profit attributable to the parent company is projected to be 439 million, 701 million, and 926 million yuan for 2024-2026, with year-over-year growth rates of 42.9%, 59.7%, and 32.0% respectively [2] - The gross margin is expected to be 29.2%, 31.0%, and 32.9% for 2024-2026 [2] - The company's P/E ratios are projected to be 15.05, 9.43, and 7.14 for 2024-2026 [2]