Investment Rating - The investment rating for the company is "Outperform" (Maintain) [3] Core Views - The company reported a revenue of 71.15 million yuan for H1 2025, representing a year-on-year increase of 6.39%, while the net profit attributable to the parent company was 11.87 million yuan, down 9.15% year-on-year. The net profit after deducting non-recurring gains and losses increased by 4.76% year-on-year [5] - The company maintains its profit forecast for 2025-2027, expecting net profits of 44 million yuan, 50 million yuan, and 55 million yuan respectively, with corresponding EPS of 0.48 yuan, 0.54 yuan, and 0.61 yuan per share, leading to PE ratios of 35.4, 31.6, and 28.3 times respectively [5] Financial Performance Summary - As of June 30, 2025, the company had a total of 87 authorized patents, including 21 invention patents. In H1 2025, revenue from biological sample processing, laboratory automation and general equipment, and molecular biology and drug research products was 41.66 million yuan, 17.39 million yuan, and 5.70 million yuan respectively, with year-on-year growth rates of 7.27%, 5.51%, and 1.29% [6] - The company is positioned in a market where over 80% of large analytical instruments are imported, indicating significant domestic market potential. The global analytical instrument market is projected to reach 60 billion USD by 2025, with a CAGR of 6.5% expected until 2034 [7] Financial Forecasts - The company's projected financials for 2023A to 2027E include: - Revenue: 191 million yuan (2023A), 168 million yuan (2024A), 173 million yuan (2025E), 195 million yuan (2026E), 218 million yuan (2027E) [11] - Net profit: 58 million yuan (2023A), 42 million yuan (2024A), 44 million yuan (2025E), 50 million yuan (2026E), 55 million yuan (2027E) [11] - EPS: 0.64 yuan (2023A), 0.45 yuan (2024A), 0.48 yuan (2025E), 0.54 yuan (2026E), 0.61 yuan (2027E) [12]

导读： 21 款在研产品储备技术力量！新芝生物 2024 财报透露出什么信号？ 特别提示 微信公众号机制调整，请点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 4月2 1日，新芝生物发布2 0 2 4年年报。报告显示，公司2 0 2 4年营业收入为1 . 6 8亿元，同比下降11 . 9 0%；归母净利润为4 1 6 2 . 7 7万元，同比下降 2 8 . 4 8%；扣非归母净利润为2 8 2 6 . 4 8万元，同比下降3 2 . 7 8%；基本每股收益0 . 4 7元。 报告期内，新芝生物基本每股收益为0 . 4 7元，加权平均净资产收益率为7 . 7 8%。 以4月2 1日收盘价计算，新芝生物目前市盈率（TTM）约为3 2 . 8 0倍，市净率（LF）约为2 . 6 8倍，市销率（TTM）约为8 . 2 7倍。 根据年报，新芝生物第四季度实现营业总收入5 9 3 9 . 3 5万元，同比下降0 . 2 0%，环比增长4 2 . 0 1%；归母净利润1 9 9 7 . 4 6万元，同比下降3 . 8 0%， 环比增长1 3 2 . 4 7%；扣非净利润2 5 ...