AmoyDx(300685) 中国银河·2024-08-09 02:00Investment Rating - The report maintains a "Cautious Recommendation" rating for the company [1]. Core Views - The company reported a revenue of 543 million yuan for the first half of 2024, representing an 18.38% increase year-on-year, and a net profit attributable to shareholders of 144 million yuan, up 13.49% [1]. - The company continues to benefit from the return of testing services to hospitals, with a significant increase in revenue from testing reagents and a strong gross margin [1]. - The company has expanded its tumor detection solutions through various precision medical technology platforms, having developed 27 tumor gene detection products approved in China [1]. - The company has established partnerships for companion diagnostics with numerous well-known pharmaceutical companies, leading to rapid growth in international sales [1]. Financial Performance Summary - For the first half of 2024, the company achieved a revenue of 543 million yuan (+18.38%) and a net profit of 144 million yuan (+13.49%) [1]. - The revenue from testing reagents was 448 million yuan (+16.75%), while the revenue from testing services decreased to 32 million yuan (-28.01%) [1]. - The company invested 106 million yuan in research and development, accounting for 19.56% of its revenue [1]. Financial Forecast - The company is projected to achieve revenues of 1,279.14 million yuan in 2024, with a growth rate of 22.58% [6]. - The net profit attributable to shareholders is expected to reach 325.39 million yuan in 2024, reflecting a growth rate of 24.44% [6]. - The projected EPS for 2024 is 0.82 yuan, with a PE ratio of 23.16 [6].