Hefei Meiya Optoelectronic Technology (002690) 天风证券·2025-03-09 00:25Investment Rating - The investment rating for the company is "Buy" with a 6-month outlook maintained [5]. Core Viewpoints - The company is a leading player in the domestic CBCT (Cone Beam Computed Tomography) market, leveraging AI technology to address industry challenges and enhance diagnostic capabilities [2]. - The newly launched "Cloud Leader" CBCT integrates AI, big data, and cloud computing, significantly improving diagnostic accuracy and efficiency for dental practitioners [1][3]. - The company has adjusted its revenue and profit forecasts for 2024-2026, expecting revenues of 2.39 billion, 2.67 billion, and 2.96 billion yuan respectively, with net profits of 638 million, 704 million, and 773 million yuan [3]. Financial Data and Valuation - Revenue growth rates are projected to be -1.51% in 2024, 11.58% in 2025, and 11.00% in 2026 [4]. - The company's EBITDA for 2024 is estimated at 755.36 million yuan, with a projected increase to 985.61 million yuan by 2026 [4]. - The earnings per share (EPS) is expected to be 0.72 yuan in 2024, increasing to 0.88 yuan by 2026 [4]. - The price-to-earnings (P/E) ratio is projected to be 21.70 in 2024, decreasing to 17.93 by 2026 [4].