公司发布“质量回报双提升”行动方案，看好公司长远发展

Investment Rating - The report assigns a "Buy" rating for the company, Yuyue Medical (002223.SZ), with a target price of 43 RMB per share [1]. Core Views - The company has launched a "Quality and Return Improvement" action plan, focusing on long-term development and enhancing product competitiveness [1]. - The report highlights the company's commitment to R&D, with increasing investment leading to a stronger product lineup and competitive edge in the medical device sector [1][2]. - The company is expanding its international market presence, particularly in response to increased demand for medical equipment during the pandemic [1]. Financial Summary - The projected net profit for 2023 is expected to increase by 45% to a range of 23.1 to 24.7 billion RMB, with further growth anticipated in 2024 and 2025 [1][4]. - The company's revenue is forecasted to grow from 7.895 billion RMB in 2023 to 10.186 billion RMB in 2024 [4]. - The earnings per share (EPS) is projected to rise from 2.39 RMB in 2023 to 2.73 RMB in 2025, reflecting a year-on-year growth of 15.3% [2][4]. Shareholder Returns - The company has a history of increasing dividends, with a proposed dividend per share (DPS) of 0.72 RMB for 2023, translating to a yield of 2.01% [2]. - Cumulative dividends since the company's listing in 2008 amount to 29.55 billion RMB, indicating a strong commitment to returning value to shareholders [1]. Market Position - Yuyue Medical is positioned as a leader in the consumer medical device sector, with a focus on innovation and product development [1]. - The company has established R&D centers in multiple locations, including Germany and Taiwan, to enhance its technological capabilities [1].