Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase exceeding 15% over the next six months [6]. Core Insights - The company is projected to achieve a revenue of no less than 1.45 billion yuan in the first half of 2025, representing a growth rate of at least 27%. Adjusted net profit is expected to be no less than 175 million yuan, with a growth rate of at least 33% [1]. - The company's dual growth strategy, driven by both organic and external expansion, is effectively supporting steady revenue growth. Internally, the company is enhancing its business model and operational efficiency, while externally, it is committed to scaling through mergers and acquisitions [2]. - The optimization of the shareholding structure, high dividend commitments, and stock incentive plans reflect the company's confidence in its long-term development [3]. Financial Summary - The company’s projected revenues for 2025-2027 are 3.064 billion yuan, 3.344 billion yuan, and 3.645 billion yuan, respectively. Corresponding net profits are expected to be 320 million yuan, 362 million yuan, and 413 million yuan, with price-to-earnings ratios of 20, 18, and 16 times [3][5]. - The financial outlook shows a significant increase in revenue and net profit, with a projected revenue growth of 19.13% in 2025 and 9.13% in 2026 [5]. - The company is expected to maintain a dividend payout ratio of no less than 50% of net profit from 2025 to 2027, enhancing shareholder returns [3].
美丽田园医疗健康(02373):内生外延驱动业务稳增,多措并举提振市场信心