Allist(SH:688578) CAITONG SECURITIES·2025-08-20 06:21Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company is expected to achieve significant revenue growth, with projected revenues of 4.5 billion, 5.5 billion, and 6.1 billion RMB for the years 2025, 2026, and 2027 respectively, reflecting growth rates of 26.5%, 22.2%, and 10.9% [9] - The net profit is forecasted to reach 1.896 billion, 2.591 billion, and 3.033 billion RMB for the same years, with net profit growth rates of 32.6%, 36.7%, and 17.1% [9] - The company has made significant progress in clinical research, particularly with the drug Vomeletin, which has received breakthrough therapy designation for treating NSCLC [9] - The drug Goleirese has been successfully approved and is expected to enter the national medical insurance directory, which will accelerate its market penetration [9] Financial Performance and Forecast - Revenue for 2023 is reported at 2,018 million RMB, with a projected increase to 3,558 million RMB in 2024, and further growth to 4,500 million RMB in 2025 [7][10] - The company’s net profit for 2023 is 644 million RMB, expected to rise to 1,430 million RMB in 2024, and 1,896 million RMB in 2025 [7][10] - Earnings per share (EPS) is projected to grow from 1.43 RMB in 2023 to 4.21 RMB in 2025, with a corresponding price-to-earnings (PE) ratio of 21.4 in 2025 [7][10] Market Performance - The company has shown a market performance of -27% over the last 12 months, compared to the Shanghai Composite Index and the Chemical Pharmaceutical sector [4]