INKON Life(SZ:300143) EBSCN·2024-04-24 13:01Investment Rating - The report maintains a "Buy" rating for the company [2][10]. Core Insights - The company has demonstrated robust growth in its medical services and successful integration in the medical device sector, with hospital business revenue reaching 1.15 billion yuan in 2023, a year-on-year increase of 15.3% [1]. - The medical device segment achieved revenue of 322 million yuan, reflecting a significant year-on-year growth of 101.7%, primarily driven by the consolidation of Shenzhen Saintno [1][2]. - The company is expected to continue its steady growth trajectory, supported by improved operational quality in hospitals and ongoing enhancements in the medical device segment [2]. Summary by Sections Revenue Performance - The company reported a total revenue of 1.47 billion yuan in 2023, representing a year-on-year increase of 27.2% [7]. - The net profit for 2023 was 100 million yuan, a substantial increase of 116.85% year-on-year [7]. Financial Projections - The forecast for net profit for 2024 and 2025 has been adjusted to 126 million yuan and 157 million yuan, respectively, reflecting a downward revision of 32% and 40% from previous estimates [2]. - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.20 yuan, 0.24 yuan, and 0.30 yuan, with corresponding price-to-earnings (P/E) ratios of 39, 32, and 25 [2]. Operational Developments - The company is actively advancing the construction of regional medical centers, enhancing its diagnostic and treatment capabilities [6]. - The focus on oncology services has led to a comprehensive product line covering key treatment scenarios, with ongoing efforts to strengthen market presence through strategic acquisitions [6].