Jiangsu wuzhong(600200) 民生证券·2024-08-29 09:00Investment Rating - The report maintains a "Cautious Recommendation" rating for the company [4]. Core Views - The company achieved a revenue of 1.207 billion yuan in H1 2024, representing a year-on-year increase of 9.62%, while the net profit attributable to the parent company was 24 million yuan, down 10.75% year-on-year [2]. - The medical beauty business shows strong profitability, with a gross margin of 82.9% for the AestheFill product, which was officially launched in April 2024 [2]. - The company is actively promoting the AestheFill sales, increasing the number of cooperative medical beauty institutions, and enhancing training for terminal doctors [2]. - The company is focusing on both independent research and external investments, particularly in upstream injection products [2]. Financial Performance Summary - For 2024, the company is expected to achieve a revenue of 2.781 billion yuan, with a growth rate of 24.2% [3]. - The net profit attributable to the parent company is projected to be 132 million yuan in 2024, reflecting a significant increase of 283.5% [3]. - The earnings per share (EPS) is forecasted to be 0.19 yuan for 2024, with a price-to-earnings (PE) ratio of 46 [3][5].