CTI(300012) Guoxin Securities·2024-10-28 09:31Investment Rating - The investment rating for the company is "Outperform the Market" [3][11]. Core Views - The company reported a revenue growth of 5.21% year-on-year in the third quarter, with a total revenue of 4.396 billion yuan for the first three quarters of 2024, representing a 7.71% increase year-on-year. The net profit attributable to shareholders was 0.747 billion yuan, a 0.79% increase year-on-year [1]. - The company is actively pursuing strategic acquisitions to enhance its market position, including investments in various sectors such as health management services and green energy technology [1]. - The company has initiated a stock buyback program to boost investor confidence, having repurchased 1 million shares at prices ranging from 10.13 to 10.49 yuan per share [1]. Financial Performance Summary - For the first three quarters of 2024, the company achieved an operating income of 4.396 billion yuan, with a year-on-year growth of 7.71%. The net profit attributable to shareholders was 0.747 billion yuan, reflecting a 0.79% increase year-on-year [1][9]. - The company’s third-quarter revenue was 1.605 billion yuan, with a year-on-year growth of 5.21%. The net profit for the quarter was 0.310 billion yuan, showing a decline of 0.82% year-on-year [1]. - The company’s financial metrics indicate a projected net profit of 0.969 billion yuan for 2024, with corresponding PE ratios of 26, 23, and 20 for the years 2024, 2025, and 2026 respectively [2][9]. Valuation Metrics - The company’s current market capitalization is approximately 24.839 billion yuan, with a closing price of 14.76 yuan per share [3]. - The projected earnings per share (EPS) for 2024 is 0.58 yuan, with a PE ratio of 25.6 [2][9]. - The company maintains a stable return on equity (ROE) of approximately 13.9% for 2024, with a slight decline expected in subsequent years [2][9].