Hangzhou Alltest Biotech (688606) 东吴证券·2025-01-21 04:46Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company is expected to achieve an annual revenue of between 855 million to 870 million yuan in 2024, representing a year-on-year increase of 13.29% to 15.28% [7] - The net profit attributable to the parent company is projected to be between 278 million to 298 million yuan, reflecting a year-on-year increase of 53.95% to 65.03% [7] - The company has effectively captured market demand and continues to innovate in products and services, enhancing operational efficiency and cost control [7] - The company has established a strong international market presence, particularly in Europe and the United States, with products in various diagnostic fields [7] - The company aims for a compound annual growth rate of 18.6% in revenue from 2024 to 2026, with specific targets for product registrations [7] Financial Summary - Total revenue for 2022 was 3,388.57 million yuan, with a forecast of 754.70 million yuan for 2023, and expected growth to 863.68 million yuan in 2024 [1] - The net profit for 2022 was 1,184.92 million yuan, with a forecast of 180.58 million yuan for 2023, and an expected increase to 280.94 million yuan in 2024 [1] - The earnings per share (EPS) is projected to rise from 2.28 yuan in 2023 to 3.54 yuan in 2024 [1] - The company’s price-to-earnings (P/E) ratio is expected to decrease from 31.28 in 2023 to 20.11 in 2024 [1]