IMIC(000516) China Post Securities·2024-10-08 06:00Investment Rating - The report maintains a "Buy" rating for the company International Medicine (000516) as of October 5, 2024 [2]. Core Insights - The company has established strategic partnerships with international medical institutions, including a collaboration with Korea's CHA Medical Group to set up China's first referral center, enhancing its cross-border medical service capabilities [3]. - A partnership with Mayo Clinic has been formed to improve clinical, research, and educational capabilities, positioning the company as a member of a prestigious global medical alliance [4]. - Revenue forecasts for 2024-2026 are projected at 52.4 billion, 59.7 billion, and 68.2 billion yuan respectively, with net profits expected to turn positive by 2026 [5]. Financial Summary - The company's revenue for 2023 is reported at 4,618 million yuan, with a growth rate of 70.34%. Projections for 2024, 2025, and 2026 are 5,240 million, 5,970 million, and 6,820 million yuan, reflecting growth rates of 13.48%, 13.93%, and 14.24% respectively [5][7]. - The net profit attributable to the parent company is expected to improve from -368.36 million yuan in 2023 to 188.02 million yuan in 2026, indicating a significant turnaround [5][7]. - The company's price-to-sales (P/S) ratio is projected to decrease from 2.67 in 2023 to 1.81 by 2026, suggesting a more favorable valuation over time [5][7].