博雅生物：2024三季报点评：血液品业务稳健增长，浆站拓展逐步落地

Investment Rating - The investment rating for the company is "Buy" and is maintained [3][9]. Core Views - The company's performance in Q1-Q3 2024 met expectations, with a revenue of 1.245 billion yuan, a year-on-year decrease of 43.16%. The net profit attributable to the parent company was 413 million yuan, down 11.07% year-on-year [3]. - The blood product business showed steady growth, with revenue of 1.089 billion yuan in Q1-Q3 2024, a year-on-year increase of 0.39%. New products are expected to contribute to future growth [3]. - The company has expanded its plasma collection stations, with 16 stations as of August 2024, and has seen a 12.39% increase in raw plasma collection volume [3]. - Research and development efforts are accelerating, with ongoing projects expected to enhance the product lineup and the construction of an intelligent factory to improve processing capacity [3]. Financial Summary - For 2024-2026, the company is projected to achieve revenues of 1.904 billion yuan, 2.013 billion yuan, and 2.113 billion yuan, respectively. The net profit attributable to the parent company is expected to be 554 million yuan, 607 million yuan, and 637 million yuan, respectively [3][4]. - The earnings per share (EPS) for the same period is forecasted to be 1.10 yuan, 1.20 yuan, and 1.26 yuan, with corresponding price-to-earnings (P/E) ratios of 29 times, 27 times, and 26 times [3][4].