SEARAINBOW(000503) Soochow Securities·2024-10-27 05:30Investment Rating - The report maintains a "Buy" rating for the company [1][2] Core Views - The company's revenue for the first three quarters of 2024 reached 200 million yuan, representing a year-on-year growth of 24.4%, while the net profit attributable to shareholders was a loss of 31 million yuan, narrowing the loss by 71.5% year-on-year, in line with market expectations [1][2] - The company experienced steady revenue growth, with Q3 2024 single-quarter revenue of 63 million yuan, a year-on-year increase of 3.28%, and a significant net profit increase of 278% year-on-year due to investment gains from the sale of Hainan Chemical Fiber equity [1][2] - The company is expected to benefit from the recent top-level design for public data resource development and utilization, which aims to enhance the digital economy and public data infrastructure [2] - The DRG/DIP reform is anticipated to accelerate the company's medical insurance information technology business, with several successful bids for projects in various regions [2] - The company is projected to have EPS of -0.06, -0.02, and 0.06 yuan for 2024, 2025, and 2026 respectively, indicating a positive outlook supported by its backing from a major state-owned enterprise [2] Financial Summary - Total revenue (in million yuan) is forecasted to grow from 330.13 in 2023 to 402.51 in 2024, with a year-on-year growth rate of 21.93% [1][8] - The net profit attributable to shareholders is expected to improve from a loss of 79.79 million yuan in 2023 to a loss of 55.64 million yuan in 2024, with a year-on-year growth rate of 30.27% [1][8] - The company's operating cash flow is projected to improve from a loss of 102 million yuan in 2023 to a loss of 8 million yuan in 2024 [9]