NHWA(SZ:002262) Tai Ping Yang·2024-10-31 14:46Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [5][6]. Core Insights - The company has demonstrated steady revenue growth, with a reported revenue of 4.145 billion yuan for the first three quarters of 2024, reflecting a year-on-year increase of 13.39%. The net profit attributable to shareholders reached 1.020 billion yuan, up 15.18% year-on-year [1]. - The company's core anesthetic and analgesic products, including oxycodone and remifentanil, are experiencing rapid growth, with remifentanil recently approved for a new indication, expanding its usage from operating rooms to ICUs [1][2]. - The overall gross margin for the company increased by 0.64 percentage points to 73.75% in the first three quarters of 2024, indicating effective cost control [1][4]. Financial Summary - For the fiscal year 2024, the company is projected to achieve revenues of 5.757 billion yuan, with a growth rate of 14.19%. The net profit is expected to be 1.198 billion yuan, reflecting a growth rate of 15.56% [2][4]. - The earnings per share (EPS) for 2024 is estimated at 1.18 yuan, with a price-to-earnings (PE) ratio of 22.43 [2][4]. - The company’s total assets are projected to reach 8.619 billion yuan by 2024, with total liabilities of 1.136 billion yuan [4].