低浓度阿托品顺利获批，期待其销售快速放量

Investment Rating - The report maintains a "Buy - A" investment rating for the company, with a target price of 214.50 CNY over the next six months [4][3]. Core Insights - The approval of low-concentration atropine eye drops is expected to lead to rapid sales growth, driven by a significant market opportunity due to the high prevalence of myopia among children aged 6 to 12 years, which reached 53.6% in 2022 [2][3]. - The competitive landscape is favorable as there are currently no similar products available in the domestic market for this indication, enhancing the potential for quick sales ramp-up [2]. - The company possesses strong academic promotion capabilities in the ophthalmology field, participating in numerous academic conferences and activities, which supports the effective marketing of low-concentration atropine [2]. Financial Projections - The revised profit forecast estimates the company's net profit attributable to shareholders for 2023, 2024, and 2025 to be 260 million CNY, 535 million CNY, and 614 million CNY, respectively, reflecting year-on-year growth rates of 22.9%, 105.6%, and 14.8% [3][8]. - The expected earnings per share (EPS) for 2024 is projected to be 4.29 CNY, with a price-to-earnings (PE) ratio of 50 times applied to derive the target price [3][8]. - The company's revenue is anticipated to grow significantly, with projected revenues of 1.46 billion CNY in 2023, 2.80 billion CNY in 2024, and 3.32 billion CNY in 2025 [8][9]. Market Performance - As of March 13, 2024, the company's stock price was 196.37 CNY, with a market capitalization of approximately 23.27 billion CNY [4]. - The stock has shown a relative performance of 10.5% over the past month and 36.2% over the past year [6].