兴齐眼药：公司信息更新报告：静待低浓度阿托品加速放量，眼科产品持续完善

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to see accelerated growth in low-concentration atropine sales, with continuous improvement in its ophthalmic product offerings [4] - The company reported a revenue of 1.439 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 30.27% [4] - The net profit attributable to the parent company for the same period was 291 million yuan, up 59.47% year-on-year [4] - The gross margin for the first three quarters of 2024 was 78.38%, an increase of 0.80 percentage points [4] Financial Performance Summary - Revenue for 2024 is projected to be 2.058 billion yuan, with a year-on-year growth of 40.2% [6] - The net profit attributable to the parent company is expected to reach 440 million yuan in 2024, reflecting an 83.3% increase year-on-year [6] - The company maintains a high gross margin, projected at 79.7% for 2024 [6] - Earnings per share (EPS) is forecasted to be 2.52 yuan for 2024, with a significant increase in subsequent years [6] Product Development and Market Position - The company has established a comprehensive ophthalmic product line, including treatments for myopia progression and dry eye [5] - The low-concentration atropine eye drops have gained regulatory approval and are expected to capture significant market share due to the absence of similar products in the domestic market [5] - The company is actively promoting its products, anticipating rapid sales growth as the incidence of myopia increases [5]