Mindray Leads Med Dev Research; Industry Growth.
In the past week, institutional research has covered over 660 individual stocks, with Mindray Medical being the most surveyed stock by the number of institutions.
Mindray Medical has topped the list of institutional attention, with a total of 495 institutions conducting research on the company, including nearly a hundred overseas institutions, as well as 79 funds, 60 securities firms, 112 private equity firms, and 25 insurance companies, among others.
In the first half of 2024, the company's total operating revenue reached 20.53 billion yuan, a year-on-year increase of 11.1%. The total operating revenue for the second quarter reached 11.16 billion yuan, a year-on-year increase of 10.3%. In terms of profitability, the net profit attributable to the parent company for the first half of the year was 7.56 billion yuan, a year-on-year increase of 17.4%. Excluding the impact of exchange rate gains and losses, the growth rate was 22.1%. The net profit attributable to the parent company for the second quarter was 4.4 billion yuan, a year-on-year increase of 13.7%, and the growth rate excluding the impact of exchange rate gains and losses was 24.0%.
During the research, Mindray Medical stated that the company's performance growth has been affected by changes in the external environment in the short term, but this impact is present for most manufacturers. The company is actively responding to environmental changes and is actually increasing its market share. Therefore, based on the current situation, the company still has strong confidence that it can achieve the goal of becoming one of the top 20 global medical device companies by 2025 according to the established plan. Mindray Medical, a leader in the medical device industry, has a latest market value close to 300 billion yuan.
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Union Medical, also a leader in the medical device industry, ranks second in institutional attention, with 312 institutions conducting research. The company maintained steady growth in all key indicators in the first half of the year, achieving an operating revenue of 5.333 billion yuan, a year-on-year increase of 1.18%; the net profit attributable to the shareholders of the listed company was 950 million yuan, a year-on-year increase of 1.33%; and the gross margin was 50.37%, an increase of 1.66 percentage points year-on-year.
When asked about the centralized procurement of medical equipment carried out by relevant provinces and cities, Union Medical stated that the company is fully prepared to participate in all types of centralized procurement, especially with advantages in cost control, independent research and development of core components, and product diversity. In addition, centralized procurement is likely to adopt a direct sales model, which will significantly reduce the company's marketing costs. Therefore, overall, centralized procurement presents both challenges and opportunities for the company.
New Industry, ranked third in the number of research institutions, is also a major player in the medical device industry, with a latest market value exceeding 50 billion yuan. In the first half of the year, the company achieved an operating revenue of 2.211 billion yuan, a year-on-year increase of 18.54%; the net profit attributable to the shareholders of the listed company was 903 million yuan, a year-on-year increase of 20.42%.
The company stated during the research that, considering the broader domestic replacement space for tumor markers and thyroid function compared to infectious diseases, and the company's brand advantage in the categories of tumor markers and thyroid function, it believes that the new round of centralized procurement is still a positive factor for domestic business, and the company is confident in achieving a rapid increase in the market share of tumor markers and thyroid function.
Two photovoltaic leaders also appeared on the list of institutions conducting research on a hundred companies. Trina Solar stated that with the arrival of the TOPCon 2.0 era, the company's TOPCon cell efficiency will increase by 1% and the product power will increase by at least 30W. The combination of TOPCon and perovskite tandem will be the next generation of core technology, continuing to lead the industry's high-quality development.
Trina Solar also stated that the company has always attached great importance to the protection of investors' interests. Since the beginning of this year, the company has announced a share repurchase plan of 1 to 1.2 billion yuan, and the company's senior management has completed the increase in holdings of the company's convertible bonds. The company will fulfill its obligation to disclose information in a timely manner if it implements actions to protect investors' interests such as repurchase and increase in the future.Ats second quarter operating revenue was 12.36 billion yuan, a sequential increase of 28.8%; the net profit for the second quarter was 660 million yuan, a sequential increase of 14.1%. Despite the continued decline in module prices in the second quarter, the company's high-quality module sales and rapidly increasing energy storage shipment volumes supported the sequential growth of both operating revenue and net profit. Based on the current business progress, the company has cautiously raised its guidance for large-scale energy storage system shipments this year. The company achieved energy storage sales of 2.6GWh in the first half of the year, with an expected shipment of 1.4G to 1.7GWh in the third quarter, and the shipment volume is expected to further increase in the fourth quarter.
In the stocks surveyed by institutions in the past week, Modern Pharmaceutical, Bojun Technology, Yutong Bus, and Baoshi Shares, among others, saw their net profits in the first half of the year increase by more than 100% year-on-year, and their trailing price-to-earnings ratios are below 20 times. Among them, Anli Shares saw a staggering increase of over 98 times in net profit year-on-year in the first half of the year, with a significant increase in both volume and price of the company's main products, a substantial increase in operating revenue, and a significant improvement in profits, achieving the best results in the same period of history. In particular, several indicators in the second quarter set new single-quarter records. Xizi Clean Energy saw a more than tenfold increase in net profit year-on-year in the first half of the year, mainly due to the disposal of long-term equity investment income and the improvement of product delivery gross margin.
This week, the main indices of A-shares continued to hit new lows in adjustment, with the Shanghai Composite Index falling by 2.69% for the week, and the ChiNext Index falling by 2.68% for the week. It was found that the average decline of the stocks surveyed by institutions in the past week was 2.72%. The best-performing stock was Shuyu Pingmin, with a cumulative increase of nearly 44%. In addition, stocks such as Silai Ke, STO Express, Del Shares, and Huanlejia all rose by more than 10%.
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