INKON Life(300143) 东吴证券·2025-04-02 14:04Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's hospital segment shows steady growth, while the medical device segment has achieved breakthroughs in international markets [1] - In 2024, the company achieved total revenue of 1.559 billion yuan, a year-on-year increase of 6.01%, and a net profit attributable to shareholders of 115.42 million yuan, up 14.92% year-on-year [7] - The company continues to deepen its specialty in oncology services and leverage AI innovations for upgrades [7] - The acquisition of a 51% stake in Changsha Kexin Tumor Hospital for 357 million yuan is expected to enhance the company's hospital business capabilities [7] - The forecast for net profit attributable to shareholders for 2025-2026 has been adjusted down to 116 million yuan and 174 million yuan, respectively, with an expected net profit of 215 million yuan in 2027 [7] Financial Summary - Total revenue is projected to grow from 1.559 billion yuan in 2024 to 2.412 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 8.02% [1][8] - The net profit attributable to shareholders is expected to increase from 115.42 million yuan in 2024 to 215.15 million yuan in 2027, reflecting a CAGR of approximately 23.85% [1][8] - The earnings per share (EPS) is forecasted to rise from 0.15 yuan in 2024 to 0.29 yuan in 2027 [1][8] - The price-to-earnings (P/E) ratio is projected to decrease from 67.27 in 2024 to 36.09 in 2027, indicating an improving valuation [1][8]