In today’s briefing:
- Paramount Bed (7817 JP): All-Time Revenue and Profit in FY23; Further Upside Potential Remains
- Guangzhou Kingmed Diagnostics (603882.CH) – There Is Still Investment Value that Cannot Be Ignored
Paramount Bed (7817 JP): All-Time Revenue and Profit in FY23; Further Upside Potential Remains
- Paramount Bed Holdings Co Lt (7817 JP) reported all-time high revenue and profit in FY23, driven by increased demand and price revision effect. The company has announced dividend of ¥59/share.
- For FY24, Paramount expects revenue growth of 6% to ¥105B, driven by expanding recurring revenue. Operating and net profits are expected to increase 4% and 6%, YoY, respectively, in FY24.
- Through business expansion and new product launches, the company is on track to achieve mid-term target of revenue of ¥120B and operating income of ¥17B in FY27.
Guangzhou Kingmed Diagnostics (603882.CH) – There Is Still Investment Value that Cannot Be Ignored
- 2023 would be a low point in performance for Kingmed, with negative YoY growth. But this year is a good time to bottom-fish because non-COVID conventional testing business would rebound.
- Many people think the implementation of DRGs policy would be a big catalyst for future growth of ICL industry, but we’re actually skeptical since the reality could be quite different.
- The different business models of Kingmed and Dian lead to different valuation outlook. Since the current duopoly pattern is difficult to change, we recommend investors focus only on top two ICLs.
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