Eyebright Medical(SH:688050) Xin Lang Cai Jing·2025-04-30 12:35Core Insights - The company reported a strong performance for 2024, with total revenue reaching 1.41 billion yuan, representing a 48.2% increase, and a net profit attributable to shareholders of 390 million yuan, up 27.8% [1] - The contact lens business showed exceptional growth, with revenue soaring to 430 million yuan, a remarkable 211.8% increase, driven by a 241.1% rise in sales volume [1][2] - The company is increasing its R&D investment, with R&D expenses reaching 110 million yuan, a 14.5% increase, and a R&D expense ratio of 7.6% [1] Business Performance - The artificial crystal business generated revenue of 590 million yuan, growing by 17.7%, with sales volume increasing by 44.9%, although revenue growth was slightly lower due to price reductions from centralized procurement [1] - The orthokeratology lens (OK lens) segment achieved revenue of 240 million yuan, an 8.0% increase, with growth slowing due to intensified industry competition and changes in consumer environment [1] - The contact lens segment's revenue accounted for 30.2% of total revenue, up 15.9 percentage points, indicating a significant expansion in this area [2] R&D and Future Outlook - The company has a rich pipeline of products under development, including the PR artificial crystalline lens approved for market in January 2025 and other promising clinical projects [1] - The contact lens segment is expected to continue contributing to revenue growth and improving profitability due to capacity expansion and the introduction of high-value silicone hydrogel products [2] Earnings Forecast - The projected earnings per share (EPS) for 2025, 2026, and 2027 are estimated to be 2.64 yuan, 3.46 yuan, and 4.31 yuan, respectively [3]