医疗器械 国内外高端产品占比持续提升，看好公司海外业务持续快速增长 新产业（300832.SZ） 证券研究报告/公司点评报告 2025 年 08 月 26 日 | 评级： | 买入（维持） | 公司盈利预测及估值 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | 分析师：谢木青 | | 营业收入（百万元） | 3,930 | 4,535 | 5,049 | 5,926 | 6,962 | | | | 增长率 yoy% | 29% | 15% | 11% | 17% | 17% | | 执业证书编号：S0740518010004 | | 归母净利润（百万元） | 1,654 | 1,828 | 1,841 | 2,145 | 2,508 | | Email：xiemq@zts.com.cn | | 增长率 yoy% | 25% | 11% | 1% | 16% | 17% | | | | 每股收益（元） | 2.10 | 2.33 | ...

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of Kemei Diagnostics, which has a current stock price of 6.85 yuan and a rolling PE ratio of 21.64 times, significantly lower than the industry average of 45.94 times [1][2] - Kemei Diagnostics has a total market capitalization of 2.748 billion yuan and ranks 50th in the medical device industry based on PE ratio [1][2] - As of the third quarter of 2024, Kemei Diagnostics reported a revenue of 344 million yuan, a year-on-year decrease of 0.43%, and a net profit of 112 million yuan, down 6.73% year-on-year, with a gross profit margin of 76.35% [1] Group 2 - The company specializes in the research, development, production, and sales of clinical immunochemical luminescent diagnostic reagents and instruments, being one of the earliest high-tech enterprises in China to focus on this field [1] - Kemei Diagnostics has received several honors, including being recognized as a 2022 Beijing Intellectual Property Demonstration Unit and a 2022 municipal enterprise technology center [1] - A total of 62 institutions hold shares in Kemei Diagnostics, with a combined holding of 2.325 million shares valued at 16 million yuan [1]