Company events
Maipu Medical released the “Guangzhou Maipu Regenerative Medicine Technology Co., Ltd. 2024 Restricted Stock Incentive Plan (Draft)”. The 2024 Restricted Stock Incentive Plan assesses the company's performance indicators on an annual basis during the 2024-2026 fiscal year to meet the performance assessment target as one of the conditions for the incentive target to belong to the current year. Among them, the target values for the company's revenue growth rate from 2024 to 2026 are 23.00%, 61.00%, and 103.00%, respectively, and the trigger values are 18.40%, 48.80%, and 82.40%, respectively.
Review analysis
The 2024 Restricted Stock Incentive Plan is expected to have a positive effect on the company's business development. It is expected that the 2024 restricted stock incentive plan will stimulate the motivation of management, technical and business teams, improve operating efficiency, reduce operating costs, and play a positive role in improving the company's long-term performance.
The 2024 restricted stock incentive assessment target has been raised compared to the 2023 restricted stock incentive assessment target. Compared with the 2023 restricted stock incentive assessment target, the 2024 restricted stock incentive assessment target raised the target values and trigger values for the 2024 and 2025 assessments, and added the 2026 assessment target. Based on the stock incentive target, the 2026 revenue CAGR is 26.6% based on the 2026 revenue increase compared to 2023.
Profit forecasting
The company's main products in 2023 were affected by volume procurement and dealer inventory removal, and the company's revenue growth rate slowed; negative factors were gradually eliminated with the implementation of volume procurement policies; PEEK craniomaxillofacial repair products are expected to continue to provide rapid growth in the short to medium term; the company's new product business is rapidly released, which is expected to become a new growth point for the company in the future. It is expected that the company's profitability will increase further in the future, and it is expected that the valuation will gradually be digested.
The company's 2024-2026 revenue side is expected to be 290 million yuan, 388 million yuan and 529 million yuan respectively, with revenue growth rates of 25.61%, 33.79% and 36.34%, respectively. Net profit to the mother is expected to be 55 million yuan, 82 million yuan and 121 million yuan respectively from 2024 to 2026, and net profit growth rates to mother will be 35.27%, 47.61% and 48.40%, respectively.
Risk warning:
Volume procurement policy uncertainties, and product sales volume fell short of expectations.