GOODWILL(688246)2024-11-07 09:32Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook despite short-term challenges [8]. Core Insights - The company reported a revenue of 476 million yuan for the first three quarters of 2024, a decrease of 11.52% year-on-year, and a net profit attributable to shareholders of -41 million yuan, compared to 18 million yuan in the same period last year [5][6]. - The third quarter of 2024 saw a revenue of 175 million yuan, down 28.68% year-on-year, and a net profit of -14 million yuan, which was below previous expectations [6]. - The company has maintained its leading position in the electronic medical record (EMR) market for ten consecutive years, leveraging AI to enhance its growth potential [7]. - The company is focusing on cost control while increasing R&D investment, leading to a slight decline in gross margin but improved cash flow [6][7]. Financial Data Summary - The total revenue for 2023 was 695 million yuan, with projections of 800 million yuan for 2024, 961 million yuan for 2025, and 1,153 million yuan for 2026 [9][11]. - The net profit for 2024 is projected to be 88 million yuan, with significant growth expected in subsequent years [9][11]. - The gross margin for 2024 is expected to be 52.0%, with a return on equity (ROE) projected at 4.6% [9].