Investment Rating - The investment rating for the company is "Outperform" [7] Core Insights - The company achieved a revenue of 1.447 billion yuan in 2024, representing a year-on-year growth of 85.4%, and a net profit of 733 million yuan, which is a 144.65% increase compared to the previous year [3] - The company has made significant advancements in the research and application of recombinant human collagen, particularly in the development of a new IV type collagen for skincare products, which has set a new benchmark in the market [4] - The company has successfully gained FDA certification for multiple products, enhancing its brand recognition and market presence internationally [5] Financial Summary - Revenue projections for 2024-2026 are 1,446 million, 1,851 million, and 2,186 million yuan respectively, with corresponding net profits of 733 million, 927 million, and 1,125 million yuan [6] - The gross margin is expected to be 95.4% in 2024, with a net margin of 50.7% [6] - The earnings per share (EPS) are projected to be 8.29, 10.47, and 12.71 yuan for 2024, 2025, and 2026 respectively, with a current price-to-earnings (P/E) ratio of 31.7 for 2024 [6][8]
锦波生物（832982）：北交所信息更新：领航A型重组IV型人源化胶原蛋白创新应用，2024年归母净利润增长145%