TC Medical(SH:600763) SINOLINK SECURITIES·2025-04-27 02:05Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [5][11]. Core Insights - In 2024, the company achieved a revenue of 2.874 billion RMB, a year-on-year increase of 0.96%, and a net profit attributable to shareholders of 501 million RMB, up 0.20% year-on-year [2]. - The company's planting business showed robust growth, with revenue reaching 530 million RMB, a 10.60% increase year-on-year, benefiting from increased demand due to price reductions in dental implants [3]. - The company is advancing its digital transformation, enhancing operational efficiency through AI and refined management practices [4]. Financial Performance Summary - The company reported a revenue of 2.874 billion RMB in 2024, with a growth rate of 0.96% [9]. - The net profit attributable to shareholders for 2024 was 501 million RMB, reflecting a growth rate of 0.19% [9]. - The earnings per share (EPS) for 2025 is projected at 1.20 RMB, with a corresponding price-to-earnings (P/E) ratio of 33 [5]. Business Segment Analysis - The planting business accounted for 19.39% of total revenue, with a significant increase in demand due to price adjustments [3]. - The orthodontics segment saw a revenue decline of 5.05%, while pediatric and restoration services remained stable, indicating the essential nature of dental care [3]. - The company expanded its regional presence with the addition of 3 new branches, bringing the total to 44, which has improved operational efficiency [3]. Future Projections - The company expects net profits to grow to 537 million RMB in 2025, 574 million RMB in 2026, and 610 million RMB in 2027, with respective growth rates of 7%, 6.82%, and 6.35% [5][9].