QYResearch的观点和数据因被众多国内外知名企业、证券公司及媒体频繁引用与转载，而享有高度 的品牌知名度。其权威认证确保了所提供的行业分析及定制报告的可信度与专业度，是业界信赖的优 选。 【2025年8月权威引用案例持续更新中，敬请关注】 五矿证券有限公司引用了恒州博智出版的游戏机配件市场报告 0 1 致尚科技: 五矿证券关于致尚科技使用部分超募资金投资建设新项目的核查意见 根据 QYR（恒州博智）的统计及预测，2024 年全球游戏机配件市场销售额达到了 164.9 亿美元，预计 2031 年将达到 342.4 亿美元，年复合增长率为 11.2%（2025-2031）。 来源：证券之星 更多：https://stock.stockstar.com/notice/SN2025080100000675.shtml 相关报告：2025年全球及中国游戏机配件企业出海开展业务规划及策略研究报告 悟通感控（北京）科技有限公司引用了QYResearch出版的柔性触觉传感器市场报告 02 让机器人拥有智能触觉，「悟通感控」获数千万元融资 | 36氪独家 据QYResearch数据，全球柔性触觉传感器市场规模预计将从20 ...

Group 1 - The pharmaceutical and biotechnology sector has experienced a strong rebound in 2023 after undergoing significant adjustments in previous years, driven by structural market trends [1] - Short-term impacts from ongoing medical anti-corruption efforts are stabilizing, with companies adapting well and maintaining steady operational performance [1] - By 2025, commercial insurance is expected to reach a new level, benefiting the innovative drug and device industries [1] Group 2 - Key investment focuses include: 1) Innovative drugs with true clinical value and potential for First-in-Class (FIC) and Best-in-Class (BIC) recognition, particularly from biotech companies acknowledged by multinational corporations [2] - AI in healthcare is anticipated to see strong market demand growth as the cost of deploying AI models decreases, allowing for more efficient and economical implementations [2] - The innovative drug supply chain, including CXO and life sciences services, is expected to experience a recovery in order growth as global investment and financing amounts increase [2] - Medical devices and equipment are set to benefit from a recovery in bidding data and ongoing fiscal support, with a focus on domestic alternatives and high-end manufacturing for international markets [2]

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [5]. Core Views - The company achieved a revenue of 3.207 billion yuan in 2024, representing a year-on-year growth of 11.01%, and a net profit attributable to the parent company of 352 million yuan, up 76.59% year-on-year [1][2]. - The gross margin and net margin for 2024 were 47.21% and 11.21%, respectively, showing improvements of 4.93 percentage points and 4.07 percentage points year-on-year [2]. - The company focuses on emerging industries, with over 80% of its business coming from sectors such as special industries, automotive, new energy, integrated circuits, commercial aerospace, communication, low-altitude economy, and artificial intelligence [3]. Financial Performance - In Q4 2024, the company reported a revenue of 1.047 billion yuan, a year-on-year increase of 13.11%, and a net profit of 163 million yuan, up 145.18% year-on-year [2]. - For Q1 2025, the company achieved a revenue of 618 million yuan, a year-on-year increase of 5.16%, while the net profit was 5 million yuan, up 302.86% year-on-year [2]. - The company’s revenue from various segments in 2024 was as follows: Measurement (750 million yuan, +3.8%), Reliability (780 million yuan, +17.5%), Life Sciences (500 million yuan, +2.7%), Electromagnetic Compatibility (360 million yuan, +10.2%), Integrated Circuits (260 million yuan, +26.3%), and EHS Evaluation (180 million yuan, +2.6%) [3]. Market Management - The company actively engaged in market value management, distributing a total of 224 million yuan in dividends and repurchasing shares worth 390 million yuan, totaling 614 million yuan, which is 174% of the net profit attributable to the parent company for the year [4]. - The projected net profits for 2025, 2026, and 2027 are 420 million yuan, 510 million yuan, and 600 million yuan, respectively, reflecting year-on-year growth rates of 20%, 20%, and 18% [4].