CABIO(SH:688089) Xinda Securities·2025-03-31 02:23Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company achieved a strong performance in 2024, with total revenue of 556 million, a year-on-year increase of 25.19%, and a net profit attributable to shareholders of 124 million, up 35.94% [1][3] - The company is expected to continue benefiting from domestic and international market growth in 2025, with a high certainty of revenue growth [3] - The acquisition of Ouyi has been accepted for review by the Shanghai Stock Exchange, which could enhance the company's financial statements if successful [3] Financial Summary - In 2024, the company reported total revenue of 556 million, with a year-on-year growth rate of 25.2% [4] - The net profit attributable to shareholders for 2024 was 124 million, reflecting a year-on-year increase of 35.9% [4] - The overall gross margin for 2024 was 43.61%, an increase of 1.21 percentage points compared to the previous year [3] - The company expects EPS for 2025 to be 0.78, with corresponding P/E ratios of 32X for 2025, 27X for 2026, and 24X for 2027 [3][4]