Investment Rating - The investment rating for the company is "Buy" [8]. Core Views - The report indicates that the company has shown a strong revenue growth of 31% in reagent income and 47% in molecular block income, with total revenue expected to reach approximately 1.46 billion in 2023 [8]. - The company has successfully expanded its market presence, particularly in the overseas market, with a notable increase in product penetration [8]. - The report highlights improvements in operational efficiency following management changes, with a significant increase in the number of available products and stable cash flow [8]. Financial Summary - Total revenue is projected to grow from 834 million in 2022 to 1,823 million by 2026, with year-on-year growth rates of 37.5%, 30.9%, 20.8%, 18.8%, and 16.4% respectively [8]. - Net profit attributable to the parent company is expected to increase from 146 million in 2022 to 198 million by 2026, with growth rates of 49.6%, -24.9%, 20.2%, 25.6%, and 19.6% [8]. - The gross margin is projected to decline slightly from 44.4% in 2022 to 37.3% in 2026 [8]. - Return on equity (ROE) is expected to improve from 7.0% in 2022 to 7.7% in 2026 [8]. - Earnings per share (EPS) is forecasted to rise from 1.98 in 2023 to 2.18 in 2026, with corresponding price-to-earnings (P/E) ratios decreasing from 41.49 to 15.35 [8].
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