China International Capital Corporation published a research report stating that the Target Price for PEIJIA-B (09996) has been raised by 25% to 5 Hong Kong dollars, maintaining an "outperforming the Industry" rating. China International Capital Corporation pointed out that since the second half of 2024, the company's valve Business has maintained a good growth momentum; multiple centralized procurements in neuro-intervention are occurring successively.
The report mentioned that TAVR implant volumes are expected to grow by 35-40% throughout 2024. The company's Neurointervention remains in a healthy state, as domestic alternatives have arrived. It is anticipated that Neurointervention revenue will increase by 35-40% year-on-year to approximately 0.35 billion yuan, with rapid growth in products like spring coils, thrombectomy Brackets, micro guidewires, and balloon dilation catheters.
In addition, according to monthly tracking and estimations, it is expected that the company's annual TAVR (transcatheter aortic valve replacement) surgery volume for 2024 could reach 3,400 to 3,500 cases, representing a year-on-year growth of 35-40%, which is basically in line with expectations. The company's rich product matrix helps to respond to changes in the subsequent competitive landscape, and the company may continue to maintain its leading position in the valve market.
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