Eyebright Medical(688050) 东吴证券·2025-04-24 06:23Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 1.41 billion yuan in 2024, representing a year-on-year growth of 48.24%, and a net profit attributable to shareholders of 388 million yuan, up 27.77% year-on-year [8] - The first quarter of 2025 is expected to face short-term pressure due to the impact of national centralized procurement policies on artificial crystalline lenses, leading to a decrease in surgical volumes and prices [8] - The company anticipates a recovery in its artificial lens business as new products, such as bifocal lenses and PR crystals, gradually gain market traction [8] Financial Summary - Total revenue forecast for 2024 is 1.41 billion yuan, with a projected growth rate of 48.24% [9] - Net profit attributable to shareholders is expected to be 388 million yuan in 2024, with a growth rate of 27.77% [9] - Earnings per share (EPS) is projected to be 2.05 yuan in 2024, with a price-to-earnings (P/E) ratio of 41.96 [9] - The company’s total assets are estimated to reach 4.08 billion yuan by 2025, with a debt-to-asset ratio of 24.01% [9]