Core Viewpoint - Wante Bio's stock price is reported at 55.75 yuan, reflecting a decrease of 0.87% from the previous trading day, with a trading volume of 343 million yuan and a turnover rate of 0.49% [1] Group 1: Company Overview - Wante Bio's main business includes research, production, and sales of in vitro diagnostic reagents, in vitro diagnostic instruments, and vaccines [1] - The company's primary products consist of enzyme-linked immunosorbent assay reagents, chemiluminescence diagnostic reagents, and nucleic acid diagnostic reagents [1] Group 2: Financial Management - The company announced the use of 550 million yuan of idle raised funds for cash management, investing in structured deposits [1] - This investment is aimed at improving the efficiency of the use of raised funds [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company reported a revenue of 2.012 billion yuan in 2024, a decrease of 2.02% year-on-year, with a net profit attributable to shareholders of 302 million yuan, down 15.06% [6] - The company's non-COVID related self-produced revenue grew by 26.13% to 1.672 billion yuan, with overseas revenue increasing by 64.78% to 250 million yuan [7] - The self-produced chemiluminescence business achieved a revenue of 1.522 billion yuan, up 30.27% year-on-year [7] - The company added 2,662 self-produced chemiluminescence instruments in 2024, with a total installation exceeding 10,800 units by the end of the year [8] - The company expects revenues of 2.315 billion yuan in 2025, with a year-on-year growth of 15.1%, and net profits of 385 million yuan, representing a growth of 27.6% [9] Financial Summary - In 2024, the company achieved a gross margin of 65.3% and a return on equity (ROE) of 10.9% [12] - The projected earnings per share (EPS) for 2025 is 0.67 yuan, with a price-to-earnings (P/E) ratio of 21 [12] - The company anticipates a revenue growth trajectory of 15.1% in 2025, 15.9% in 2026, and 15.2% in 2027 [9][12]