Aier(SZ:300015)2024-05-16 07:26Group 1: Financial Performance and Dividends - The total cash distribution plan for this year is nearly double compared to the previous year, amounting to approximately 1.4 billion RMB, reflecting the company's steady growth in operating performance and healthy cash flow [1] - The company aims to gradually increase the dividend payout ratio and total dividends in the future as it enters a new development phase [1] Group 2: Refractive Surgery Business Outlook - In 2023, the number of people undergoing refractive surgery in China was 1.5 per 1,000, significantly lower than the rates in developed countries such as the US (2.2 per 1,000), Europe (2 per 1,000), and South Korea (6.3 per 1,000) [2] - The refractive surgery market in China has substantial potential due to a high myopia rate and a large population base, indicating a low penetration rate of refractive surgeries [2] - The company maintains a growth rate above the industry average in its refractive business, with a significant increase in surgical volume and efficiency [2] Group 3: Cataract Surgery Business Development - The cataract business experienced rapid growth in 2023, with an increase in market share attributed to the release of pent-up demand post-pandemic and improvements in medical technology and service quality [3] - The company offers various surgical options and types of lenses to meet diverse patient needs, which is expected to continue driving growth in 2024 and beyond [3] Group 4: Impact of National Procurement on Cataract Business - The inclusion of high-end functional lenses in the national procurement list is expected to enhance the sustainability of the cataract business in terms of quality and quantity [3] - The company has established a strong competitive advantage in terms of technical capabilities and experience in high-end lens implantation surgeries [3] Group 5: Vision Care Business Development - The company's vision care business encompasses a comprehensive system for myopia prevention, control, and treatment, continuously optimizing its market structure [4] - The use of low-concentration atropine is recognized for its effectiveness but should be guided by medical professionals, with the company offering both 0.05% and 0.01% atropine formulations [4]