Investment Rating - The report maintains a "Recommendation" rating for the company, with a target price of 22.8 yuan [2][9]. Core Views - The company achieved a revenue of 1.339 billion yuan in 2024, a slight decline of 0.55% year-on-year, and a net profit attributable to shareholders of 73 million yuan, down 55.96% year-on-year. In Q1 2025, revenue increased to 208 million yuan, a growth of 6.25% year-on-year, with a net profit of 15 million yuan, up 17.18% year-on-year [2][9]. - The company is steadily advancing in smart healthcare and actively laying out data elements, with a focus on developing integrated solutions for smart hospitals and healthcare systems [9]. - The company has established partnerships with various data operation units to promote the implementation of data elements in the market, leveraging public data resources to create a comprehensive solution and technical system [9]. Financial Summary - For 2024, total revenue is projected at 1.339 billion yuan, with a year-on-year growth rate of -0.5%. By 2025, revenue is expected to rise to 1.487 billion yuan, reflecting an 11% growth rate [4]. - The net profit attributable to shareholders is forecasted to be 73 million yuan in 2024, with a significant recovery to 154 million yuan in 2025, indicating a growth rate of 110.2% [4]. - The company's earnings per share (EPS) is expected to increase from 0.18 yuan in 2024 to 0.38 yuan in 2025, with a projected price-to-earnings (P/E) ratio of 60x for 2025 [4][9].

Investment Rating - The report maintains a "Recommendation" rating for the company, with a target price of 22.8 yuan [2][9]. Core Views - The company achieved a revenue of 1.339 billion yuan in 2024, a slight decline of 0.55% year-on-year, while the net profit attributable to shareholders dropped by 55.96% to 73 million yuan. In Q1 2025, revenue increased by 6.25% year-on-year to 208 million yuan, and net profit rose by 17.18% to 15 million yuan [2][9]. - The company is actively advancing smart healthcare solutions and has established a new product system for smart hospitals, enhancing its offerings in the healthcare sector [9]. - The company is focusing on data elements and has developed a comprehensive solution and technical system for public data resources, collaborating with various data operation units to promote market implementation [9]. - Despite facing slight pressure on performance in 2024 due to external factors, the company is expected to benefit from the rise of data elements and AI industries, with significant market potential anticipated [9]. Financial Summary - In 2024, total revenue is projected to be 1.339 billion yuan, with a year-on-year growth rate of -0.5%. By 2025, revenue is expected to increase to 1.487 billion yuan, reflecting an 11% growth rate [4][10]. - The net profit attributable to shareholders is forecasted to recover significantly from 73 million yuan in 2024 to 154 million yuan in 2025, marking a growth rate of 110.2% [4][10]. - The company's earnings per share (EPS) is expected to rise from 0.18 yuan in 2024 to 0.38 yuan in 2025, with a price-to-earnings (P/E) ratio of 98 in 2024, decreasing to 46 in 2025 [4][10].