Aidea Pharma(SH:688488) Capital Securities·2024-05-15 00:30Investment Rating - The investment rating for the company is "Buy" [1][2] Core Insights - The company is entering a rapid growth phase with continuous improvement in innovative drug sales, particularly in the HIV segment, which has shown significant revenue growth [4][15] - The company reported a revenue of 411 million yuan in 2023, representing a year-on-year increase of 68.44%, although it still posted a net loss of 76 million yuan [3][5] - The forecast for revenue from 2024 to 2026 is projected to be 567 million yuan, 817 million yuan, and 1.097 billion yuan, with respective growth rates of 37.9%, 44.0%, and 34.4% [2][5] Financial Summary - The company’s earnings per share (EPS) is expected to improve from -0.18 yuan in 2023 to 0.39 yuan by 2026, indicating a turnaround in profitability [5][6] - The projected net profit for 2024 is expected to be -35 million yuan, turning positive to 163 million yuan by 2026, reflecting a significant growth rate of 368.7% [5][6] - The company’s total assets are projected to grow from 1.747 billion yuan in 2023 to 2.275 billion yuan by 2026, indicating a strengthening financial position [6]