Core Viewpoint - The report from Guotai Junan Securities indicates that Antu Biology's domestic business is under short-term pressure, while the overseas market is experiencing rapid growth. The company is expected to stabilize its domestic business and achieve significant growth in international markets due to ongoing product registration and market expansion efforts [1]. Group 1: Business Performance - Antu Biology's domestic business is currently facing short-term challenges, but there is potential for recovery as industry policies are gradually implemented and the ecosystem becomes more rational [1]. - The company is projected to see a steady advancement in the installation of chemical luminescence instruments and assembly lines, which will support the recovery of its domestic business [1]. Group 2: Market Opportunities - The overseas market is expected to grow rapidly as the company progresses with product registrations and market development [1]. - The recent acquisition of medical device registration certificates for 14 new products, including various antigen test kits and nucleic acid test kits, enhances the company's product line and lays a foundation for future growth [1]. Group 3: Valuation and Rating - Based on comparable company valuations, Antu Biology is assigned a target price of 44.94 yuan with a 2026 PE of 21X, maintaining a "Buy" rating [1].