The company deeply ploughs the field of pelvic floor and postpartum rehabilitation. The company is mainly engaged in the R & D, production, sales and service of related products in the field of pelvic floor and postpartum rehabilitation, and is committed to the rehabilitation treatment of women's life cycle diseases, including pelvic floor and postpartum rehabilitation equipment, consumables and accessories, information products, etc., widely used in medical institutions in obstetrics and gynaecology, pelvic floor rehabilitation centers, monthly centers, postpartum recovery centers, maternal and child centers and other professional institutions.
The market scale of pelvic floor and postpartum rehabilitation medical devices is growing rapidly, and the company is expected to benefit in the long run. With the rapid development of the national economy, the disposable income level of Chinese residents is increasing year by year, and their health awareness is gradually increasing. at the same time, it is influenced by such factors as the strong support of the national industrial policy, the increasing trend of population aging, the gradual liberalization of fertility policy and so on. China's pelvic floor and postpartum rehabilitation medical device market has maintained a trend of rapid growth. According to the relevant data of the head Leopard Research Institute, the market size of China's postpartum rehabilitation equipment industry has increased rapidly from 920 million yuan in 2014 to 3.95 billion yuan in 2018, with a compound annual growth rate of 43.9%.
From 2019 to 2023, the domestic post-natal rehabilitation equipment market will grow rapidly at a compound annual growth rate of 29.7%, and the market size is expected to reach 14.48 billion yuan in 2023. Focusing on the field of female pelvic floor and postpartum rehabilitation, the company has become a leading enterprise in this field and is expected to benefit from the rapid development of the industry.
The company's business structure has been gradually improved, and new products such as magnetic stimulators provide new driving forces for growth. In the early days, the company started with electrical stimulation products, and based on its rich experience in the field of pelvic floor and postpartum rehabilitation for many years, it actively expanded new product lines in the field of reproductive rehabilitation. Magnetic stimulator, uterine rejuvenation apparatus, pelvic care apparatus, electric ultrasonic therapy apparatus and other new products have gradually entered the product sales volume stage, which is expected to provide a new driving force for the company's sustained and rapid growth in the future.
The implementation of the fund-raising project will significantly enhance the company's market competitiveness. The funds raised by the company are mainly used for headquarters production base construction projects, R & D center construction projects, as well as marketing services and information construction projects.
The implementation of the fund-raising project is expected to further expand the company's product supply capacity, enhance the company's R & D strength, improve the company's marketing network, and lay the foundation for the company's sustainable development.
Profit forecast and valuation: the company's net profit from 2022 to 2024 is estimated to be 1.40,1.70 and 201 million yuan respectively, an increase of 18.45%, 21.26% and 18.09% respectively over the same period last year. Based on the two valuation methods of DCF and PE, we believe that the overall long-term fair value range of the company 6-12 months after listing is 35.00-5.04 billion yuan.
Risk hint: the risk that the profit forecast hypothesis is not true or less than expected; industry policy risk; technical risk; operational risk; financial risk; internal control risk; the risk that the rate of return of fund-raising projects is lower than expected; the risk that the company's valuation level is higher than the comparable company's valuation level; the risk of market volatility; the risk of issuance failure; the risk of declining performance caused by COVID-19 's epidemic.