新产业：海外业务稳健增长，大型机装机持续推进

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report indicates a positive outlook on the company's performance and growth potential [1]. Core Viewpoints - The company achieved a revenue of 3.414 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 17.41%. The net profit attributable to the parent company was 1.384 billion yuan, up 16.59% year-on-year [1]. - The overseas business showed robust growth, with a year-on-year increase of 25.16% in the first three quarters of 2024, while domestic growth was impacted by medical anti-corruption measures and centralized procurement [1]. - The company is focusing on increasing the installation of large-scale machines, which is expected to support steady revenue growth in the future [1]. Financial Performance Summary - Total revenue for 2024 is projected to be 4.746 billion yuan, with a year-on-year growth rate of 20.8%. The net profit attributable to the parent company is expected to reach 1.986 billion yuan, reflecting a growth of 20.1% [2]. - The gross profit margin is forecasted to improve from 73.0% in 2023 to 73.4% in 2024, while the return on equity (ROE) is expected to increase from 21.9% to 22.7% over the same period [2]. - Earnings per share (EPS) is projected to rise from 2.10 yuan in 2023 to 2.53 yuan in 2024, with a corresponding price-to-earnings (P/E) ratio decreasing from 32.99 to 27.48 [2]. Operational Insights - The company has been actively promoting its mid-to-large scale machines, achieving sales and installations of 795 units of the X8 high-speed chemiluminescence analyzer and 30 units of the T8 assembly line in the first three quarters of 2024 [1]. - Revenue from instrument products increased by 16.27% year-on-year, while reagent revenue grew by 17.93%, indicating a solid foundation for future growth in reagent sales [1]. - The report emphasizes that the increasing proportion of high-margin reagent products is likely to enhance the company's gross and net profit margins [1].