** Zhitong Finance.
Gross profit margin hit a record high, and net loss narrowed significantly by 75 year-on-year9%……Yidu Technology (02158), a leading enterprise in China's medical intelligence industryHK) recently announced its results for the first half of fiscal year 2024 (six months ended September 30, 2023), which attracted a wave of attention, and a number of investment banking institutions have also issued research reports one after another to maintain their "** rating".
According to the financial report, in the first half of fiscal year 2024, the gross profit margin of Yidu Technology reached 382%, up 121 percentage point, a record high;Total operating expenses as a percentage of revenue decreased by 12 percent year-on-year8 percentage points, and the adjusted net loss narrowed significantly by 75 percent year-on-year9% to $54.1 million.
Zhitong Finance and Economics learned that after the release of the performance report, Citigroup, Daiwa, and Goldman Sachs successively released research reports, all of which gave Yidu Technology a "** rating." The target prices given by the three major banks are all significantly higher than the current stock prices of the companies.
Citi pointed out that the deep insights and knowledge accumulated by Yiducore, the "medical intelligent brain", are the core competitive advantages of Yidu Technology. Based on the highly scalable and flexible Yiducore, Yidu Technology has a strong network effect in the healthcare ecosystem and will further develop and expand its business.
Daiwa said that Yidu Technology's gross profit margin rose and adjusted net loss narrowed significantly, which was better than the market consensus expectation, and expected that the company's measures in the medical vertical field large model will promote customer acquisition and retention. Goldman Sachs believes that Yidu Technology's performance in the first half of fiscal year 2024 is "a solid gross profit margin trend and strict operational control".
At the results conference on November 30, the management of Yidu Technology pointed out that the current price-to-book ratio has dropped to 103 times. On the other hand, even if it is a very conservative calculation, based only on the latest valuation of international business and the company's significant asset reserves, and does not consider any domestic business, the company's share price (calculated at the ** price on November 29) is about 50% higher than the average price of the past 60 days. Therefore, the management believes that the current share price of Yidu Technology is seriously undervalued from any angle.
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