Meinian Onehealth(SZ:002044) Guohai Securities·2024-11-05 14:46Investment Rating - The investment rating for the company is "Buy" (maintained) [1][3]. Core Insights - The company reported a revenue of 2.935 billion yuan in Q3 2024, representing a year-on-year increase of 3.63%, and a net profit of 240 million yuan, up 10.33% year-on-year [2]. - The health check industry exhibits significant seasonality, with Q1 being a low season and Q4 expected to be a peak season, indicating a positive growth trajectory for the company [2]. - The company has launched innovative projects and health management services, including the first domestic AI health management robot "Health Xiaomei" and an AI-based blood sugar management system [2][3]. - The company is leveraging AI to enhance operational efficiency, introducing an AI sales assistant to improve sales personnel's capabilities [2]. Financial Performance Summary - The company’s revenue projections for 2024-2026 are 11.1 billion yuan, 12.8 billion yuan, and 14.7 billion yuan, with respective year-on-year growth rates of 2%, 16%, and 15% [3][5]. - The net profit forecasts for the same period are 356 million yuan, 649 million yuan, and 916 million yuan, with growth rates of -30%, +82%, and +41% respectively [5]. - The company is positioned as a leader in the health check industry, focusing on digital transformation and innovative product offerings to strengthen its competitive advantage [3][5].