WEIGUANG BIOLOGICAL(002880) 西南证券·2024-11-04 13:02Investment Rating - The report maintains a "Buy" rating for Weiguang Biological (002880) [1][3] Core Views - The company reported a revenue of 850 million yuan for the first three quarters of 2024, representing a year-on-year increase of 16.1%. The net profit attributable to shareholders reached 180 million yuan, up 20.8% year-on-year [2] - The third quarter saw a strong revenue momentum with figures of 230 million yuan, 300 million yuan, and 330 million yuan for the first, second, and third quarters respectively, reflecting growth rates of 8.5%, 19.3%, and 19% [2] - The approval of PCC (Prothrombin Complex Concentrate) enhances the company's product line and is expected to positively impact long-term development [3] Financial Summary - The projected net profits for 2024-2026 are estimated at 260 million yuan, 310 million yuan, and 370 million yuan respectively, maintaining the "Buy" rating [3] - Revenue forecasts for 2024-2026 are 1,048.50 million yuan, 1,281.60 million yuan, and 1,495.76 million yuan, with growth rates of 22.23%, 16.71%, and 15.85% respectively [3][6] - The gross profit margin for the first three quarters of 2024 was 41.8%, a decrease of 1.2 percentage points year-on-year, attributed to changes in market demand for related products [2]