Investment Rating - The report assigns a "BUY" rating for the company, indicating a positive outlook for potential price appreciation [4]. Core Insights - The company plans to acquire 85% of South Korean Regen Biotech for approximately $190 million (1.33 billion RMB), enhancing its international competitiveness [4]. - Regen Biotech is a leading aesthetic medicine company in South Korea, with a projected revenue of approximately 82 million RMB and a net profit of about 50 million RMB for 2023 [4]. - The acquisition is expected to improve operational efficiency and reduce production costs due to the company's experience in production management [4]. - The core products of Regen Biotech have received regulatory approvals in multiple countries, providing a competitive edge in the market [4]. - The company maintains its profit forecasts, expecting net profits of 2.03 billion, 2.26 billion, and 2.62 billion RMB for 2024, 2025, and 2026, respectively, with corresponding EPS of 6.71, 7.48, and 8.65 RMB [4][6]. Financial Summary - The company's net profit for 2023 is projected at 1.858 billion RMB, with a year-on-year growth of 47.08% [6]. - Revenue is expected to grow from 2.869 billion RMB in 2023 to 4.047 billion RMB by 2026 [7]. - The company's P/E ratio is projected to decrease from 20 in 2023 to 20 in 2026, indicating a stable valuation [6][7]. - The company’s total assets are expected to grow from 6.852 billion RMB in 2023 to 11.553 billion RMB by 2026 [8].