Investment Rating - The investment rating for the company is "Outperform" (Maintain) [2] Core Views - The company is expected to achieve a 12% growth in net profit attributable to shareholders in 2024, despite a slight decline in revenue due to market competition [4] - The company has adjusted its profit forecasts for 2024-2026, now expecting net profits of 18 million, 24 million, and 31 million respectively, with corresponding EPS of 0.19, 0.25, and 0.32 [4] - The current stock price corresponds to P/E ratios of 82.1, 60.7, and 48.7 for the years 2024, 2025, and 2026 respectively, indicating a positive outlook based on the company's strategic product technology barriers and the broad market prospects in the biomedical equipment industry [4] Financial Summary - In 2024, the company is projected to have revenue of 296 million, a decrease of 2.32% year-on-year, while net profit is expected to be 18 million, an increase of 12.16% year-on-year [4] - The company's gross margin is expected to be 35.3% in 2024, with a net margin of 6.1% [10] - The company has a total market capitalization of 14.82 billion and a circulating market capitalization of 4.27 billion [2] Product Development and Market Trends - The company is accelerating new product development and upgrading existing products, having successfully developed a new clean workbench product that meets GMP standards and upgraded its large-volume blood box product series [6] - The biomedical industry is rapidly developing, with increasing emphasis on biosafety, which is driving demand for biological sample storage [5] - Multiple policies have been introduced to support the development of the domestic medical device industry, including a plan to increase equipment investment by over 25% by 2027 across various sectors [5]
中科美菱：北交所信息更新：加快新品研发和现有产品迭代升级，2024年归母净利润增长12%-20250302