Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook on its performance and growth potential [5]. Core Insights - The company's H1 2024 performance met expectations, with a revenue of 686 million yuan, a year-on-year increase of 69%, and a net profit attributable to shareholders of 208 million yuan, up 28% year-on-year [5]. - The growth in revenue is driven by significant increases in the sales of cataract lenses and contact lenses, with the latter seeing a remarkable year-on-year growth of 956.9% [5]. - The company's gross margin decreased to 69.68% from 83.15% in the previous year, influenced by price reductions from centralized procurement and a higher proportion of revenue from contact lenses [5]. - Research and development efforts are ongoing, with a total investment of 68.6 million yuan in H1 2024, reflecting a year-on-year increase of 25.43% [5]. Financial Summary - For H1 2024, the company reported total revenue of 686 million yuan, with a year-on-year growth rate of 68.5% [6]. - The projected net profit for 2024 is estimated at 395 million yuan, with a year-on-year growth rate of 29.9% [5][6]. - The company's earnings per share (EPS) for 2024 is projected to be 2.08 yuan, with a gross margin forecasted to be around 69.1% [5][6].

Investment Rating - The report maintains an "Outperform" rating for the company [3][11]. Core Insights - The company achieved a strong revenue growth of 73% year-on-year in Q2, with significant contributions from the artificial lens and contact lens businesses [1][5]. - The company is the first domestic manufacturer to independently develop high-end refractive artificial lenses, with a promising pipeline for future growth [11]. Financial Performance - In the first half of 2024, the company reported revenue of 686 million (up 68.54%) and a net profit of 208 million (up 27.49%) [1][5]. - Q2 revenue reached 375 million (up 72.91%), marking the highest quarterly revenue in history, with a net profit of 105 million (up 24.01%) [1][5]. - The gross profit margin for the first half of 2024 was 69.68%, a decrease of 13.47 percentage points, primarily due to price reductions from centralized procurement and an increase in the proportion of contact lens revenue [7][9]. Business Segments - The artificial lens segment generated 319 million (up 30.20%), benefiting from successful procurement bids and market expansion [7][11]. - The contact lens segment saw revenue of 183 million (up 957%), accounting for 26.76% of total revenue, driven by acquisitions and increased production capacity [7][11]. - The company’s R&D investment in the first half of 2024 was 68.6 million, representing 10% of revenue, with several key products in clinical or registration stages [9][10]. Future Projections - The company forecasts net profits of 409 million, 518 million, and 637 million for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 34.7%, 26.6%, and 22.8% [11][12]. - The current stock price corresponds to a price-to-earnings ratio of 36.1, 28.5, and 23.2 for the years 2024, 2025, and 2026 [11][12].

证券代码：688050 证券简称：爱博医疗 公告编号：2024-043 爱博诺德（北京）医疗科技股份有限公司 关于参加 2024 年半年度科创板医疗器械及医疗设备专 场集体业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 1 会议召开时间：2024 年 9 月 19 日（星期四）下午 14:00-16:00 会议召开地点：上海证券交易所上证路演中心 二、说明会召开的时间、地点 （一）会议召开时间：2024 年 9 月 19 日下午 14:00-16:00 （二）会议召开地点：上海证券交易所上证路演中心 （三）会议召开方式：上证路演中心网络文字互动 （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于 2024 年 9 月 18 日（星期三）16:00 前通过公司投资者邮箱 （investors@ebmedical.com）进行提问。公司将在说明会上对投资者普遍关注的问 题进行回答。 爱博诺德（北京）医疗科技股份有限公司（以下 ...

一、本次股份解除质押基本情况 单位：股 | 原出质 | | 解质时间 | | | 本次解质 本次解质股份数量 | 本次解质后剩余 占其持股 | 占公司总 | | --- | --- | --- | --- | --- | --- | --- | --- | | 人名称 | | | | 股份数量 占公司总股本比例 | | 被质押股份数量 总数比例 | 股本比例 | | 毛立平 | 2024 | 年 9 3 | 月 | 981,819 0.52% | 日 1,500,000 | 26.76% | 0.79% | 二、股东及其一致行动人累计质押股份情况 证券代码：688050 证券简称：爱博医疗 公告编号：2024-044 爱博诺德（北京）医疗科技股份有限公司 关于股东部分股份解除质押的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 截至本公告披露日，爱博诺德（北京）医疗科技股份有限公司（以下简称 "公司"）股东毛立平先生持有公司股份 5,604,413 股，占公司总股本的 2.96%。 本次解除质押的 ...

证券代码：688050 证券简称：爱博医疗 爱博诺德（北京）医疗科技股份有限公司 投资者关系活动记录表 编号：202409－01 | --- | --- | --- | --- | |----------------|-------------------------|--------------------------------------------------------|-----------------| | | | | | | | □特定对象调研 | □分析师会议 □媒体采访 | | | 投资者关系活动 | □业绩说明会 □新闻发布会 | | □路演活动 | | 类别 | □现场参观 | 其他（电话会议） | | | | | 朱雀基金、中再资管、中域投资、中邮证券、中邮创业基金、 | | | | | 中英人寿保险、中银基金、中信证券、中信建投、中泰证券资 | | | | | 管、中融汇信投资、中欧瑞博投资、中粮期货、中海基金、中 | | | | | 国守正基金、中国人寿资管、中国人寿养老保险、中国人保资 | | | | | 管、中庚基金、致顺投资、知合、正圆私募基金、真脉、浙商 | | | | ...

| 回购方案首次披露日 | 2024/2/24，由公司董事长兼总经理、控股股东、 | | --- | --- | | | 实际控制人解江冰先生提议 | | 回购方案实施期限 | 第二届董事会第十次会议审议通过后 12 个月 | | 预计回购金额 | 万元（含） 2,000 万元（含）~4,000 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 万股 14.28 | | 累计已回购股数占总股本比例 | 0.075% | | 累计已回购金额 | 2,004.36 万元 | | 实际回购价格区间 | 元/股~147.90 元/股 134.10 | 一、 回购股份的基本情况 2024 年 2 月 22 日，公司召开第二届董事会第十次会议，审议通过了《关于以 集中竞价交易方式回购公司股份方案的议案》，同意公司以自有资金或自筹资金通 过上海证券交易所系统以集中竞价交易方式回购公司已发行的部分人民币普通股 （A 股）股票。回购股份将在未来适宜时机全部用于股权激励或员工持股计划，并 在股份回购实施结果暨股份变动公告后 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][5][8] Core Views - The company reported a revenue of 686 million yuan in the first half of 2024, representing a 69% year-on-year increase, and a net profit attributable to shareholders of 208 million yuan, up 27% [3] - The artificial lens business showed strong performance due to successful bidding in centralized procurement and market expansion, with revenue from artificial lenses reaching 319 million yuan, a 30% increase [3] - The company has expanded its coverage to over 3,500 hospitals nationwide, an increase of approximately 300 hospitals compared to the end of 2023 [3] - The OK lens segment grew by 7% to 113 million yuan, while other myopia control products saw a significant increase of 65% to 41 million yuan [3] - The company’s contact lens revenue surged by 957% to 183 million yuan, indicating strong growth potential [3] - The company is recognized as a leader in innovative research and commercialization capabilities in the ophthalmology sector, with a diverse product pipeline [5] Financial Summary - The company’s projected revenues for 2024-2026 are 1.416 billion yuan, 1.961 billion yuan, and 2.631 billion yuan, with year-on-year growth rates of 49%, 38%, and 34% respectively [5][6] - The net profit attributable to shareholders is expected to be 394 million yuan, 552 million yuan, and 772 million yuan for the same period, with growth rates of 30%, 40%, and 40% respectively [5][6] - The company’s price-to-earnings (P/E) ratios are projected to be 36x, 25x, and 18x for 2024, 2025, and 2026 respectively [5][6]

证券研究报告 非金融公司|公司点评|爱博医疗（688050） 人工晶体和隐形眼镜表现亮眼 请务必阅读报告末页的重要声明 glzqdatemark1 2024年08月24日 证券研究报告 |报告要点 公司披露 2024 年半年报，实现营收 6.86 亿元，同比增长 68.54%；归母净利润 2.08 亿元，同 比增长 27.49%；扣非归母净利润 1.99 亿元，同比增长 29.95%；单 Q2 实现营收 3.75 亿元， 同比增长 72.91%；归母净利润 1.05 亿元，同比增长 24.01%；扣非归母净利润 1.00 亿元，同 比增长 28.26%，主要由于人工晶体和隐形眼镜放量驱动业绩高增长。 |分析师及联系人 郑薇 SAC：S0590521070002 请务必阅读报告末页的重要声明 1 / 5 非金融公司|公司点评 glzqdatemark2 2024年08月24日 爱博医疗(688050) 人工晶体和隐形眼镜表现亮眼 | --- | --- | --- | |--------------------|-----------------|-------------------------------- ...

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证券研究报告·公司点评报告·医疗器械 爱博医疗（688050） 2024 年 H1 业绩点评：收入超我们预期，看 好长期成长性 2024 年 08 月 22 日 买入（维持） | --- | --- | --- | --- | --- | --- | |------------------------------|--------|--------|----------|----------|----------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 579.50 | 951.18 | 1,350.18 | 1,817.36 | 2,441.28 | | 同比（ % ） | 33.81 | 64.14 | 41.95 | 34.60 | 34.33 | | 归母净利润（百万元） | 232.69 | 303.98 | 402.70 | 530.85 | 724.94 | | 同比（ % ） | 35.80 | 30.63 | 32.48 | 31.82 | 36.56 | | EPS- 最 ...