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Golden Research丨CICC Securities: Maintains a 'buy' rating on Shenzhen Mindray Bio-Medical Electronics, bullish on the company's future development.
CICC research report pointed out that Shenzhen Mindray Bio-Medical Electronics (300760.SZ) performance meets expectations, with the medical diagnostics business becoming the largest revenue sector. In the first three quarters, the company's revenue by product line shows that the medical diagnostics business revenue is 11.4 billion yuan, a year-on-year growth of 20.9%, accounting for 38.7% of the revenue, with the chemical luminescence business growing at over 20%. The company's overseas revenue maintains rapid growth mainly due to continued breakthroughs in overseas high-end strategic clients and medium to large sample size laboratories, and seed businesses including animal medical care, minimally invasive surgery, AED gradually ramping up. Procurement data in September 2024 showed some recovery, in September.
Shenzhen Mindray Bio-Medical Electronics (300760): Performance meets expectations, impressive growth in overseas business.
On October 29, the company released its performance for the third quarter of 2024. The company's revenue for the first three quarters of 2024 was 29.48 billion yuan, an 8.0% year-on-year increase; net income attributable to the parent company was 10.64 billion yuan, a year-on-year increase.
AVIC Securities: Pharmaceutical industry performance under pressure in the third quarter, total market value of heavyweight in fund holdings increased.
The demand for blood sector in biological products remains high, with vaccines facing sales pressure due to factors such as previous market consumption; active pharmaceutical ingredients are entering the tail end of downstream inventory, showing an improvement in demand, and future performance is expected to gradually improve.
Shenzhen Mindray Bio-Medical Electronics (300760) Third Quarter Report Review 2024: International market continues to exert strength with IVD business leading the growth.
Subject: The company released the third quarter report for the 24th year, with revenue of 29.48 billion yuan in the first three quarters (+8.0%); net income attributable to equity holders was 10.64 billion yuan (+8.2%), with a growth rate of 11.0% after excluding the impact of exchange gains and losses. Single
Express News | 541 companies were surveyed by institutions, shenzhen mindray bio-medical electronics received the most attention.
Research Reports Spotlight | Zheshang maintains a "buy" rating on Shenzhen Mindray Bio-Medical Electronics, expecting to sustain a relatively stable growth trend in 2025-2026.
Gelonghui November 4th | Zheshang's research report pointed out that Shenzhen Mindray Bio-Medical Electronics (300760.SZ) had a revenue of 8.95 billion yuan in Q3 2024, a YOY increase of 1.4%; the net income attributable to the parent company was 3.08 billion yuan, with a YOY decrease of -9.3%. Considering the slight underperformance of the company's Q3 2024 performance compared to previous expectations due to changes in external factors such as the slowdown in domestic bidding, the company's profit forecast was slightly adjusted downward. Nevertheless, the bank believes that with the rapid release of demand for medical instruments brought by the global medical new infrastructure wave, the company's accelerated expansion in overseas and high-end markets, and the gradual opening of emerging businesses will lead to long-term growth.
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