Investment Rating - The report maintains an "Accumulate" rating for the company [8] Core Views - The company reported a revenue of 1.814 billion yuan in 2024, representing a year-on-year growth of 4.40%, while the net profit attributable to shareholders was 572.23 million yuan, a decrease of 14.16% [8] - The company's main business is under short-term pressure due to macroeconomic factors, with sales of hard contact lenses declining by 6.73% in 2024 [8] - The introduction of the scleral lens is expected to contribute to growth, as it is a widely used optical product in developed countries with significant market potential [8] - The company has adjusted its profit forecasts for 2025 and 2026, lowering the net profit estimates to 646 million yuan and 694 million yuan, respectively [8] Financial Summary - Total revenue is projected to grow from 1.814 billion yuan in 2024 to 2.738 billion yuan by 2027, with a compound annual growth rate of approximately 15.70% [9] - The net profit attributable to shareholders is expected to recover from 572.23 million yuan in 2024 to 788 million yuan in 2027, reflecting a growth rate of 13.44% [9] - The earnings per share (EPS) is forecasted to increase from 0.64 yuan in 2024 to 0.88 yuan in 2027 [9]