Group 1 - The company has been actively repurchasing shares, demonstrating confidence in its future development. In 2024, the company repurchased a total of 3.525 million shares, accounting for 1.52% of its total share capital. In February 2025, the company announced plans to repurchase between RMB 50 million and RMB 100 million worth of shares. As of the end of March 2025, the cumulative repurchased shares reached 1.168 million, representing 0.50% of the total share capital, with a transaction amount of RMB 18.75 million [1][2] - The company's borosilicate molded bottle business is progressing steadily, with expectations for a breakthrough in 2025. The borosilicate molded injection bottles passed technical review by the National Medical Products Administration in April 2024, allowing for mass production. In February 2025, a new energy-efficient glass melting furnace was successfully ignited, which is expected to produce over 10,000 tons of Class I pharmaceutical molded glass bottles annually once fully operational. Currently, there is a supply shortage in the domestic market for borosilicate molded bottles, indicating good profitability and potential for new performance growth [1] Group 2 - The company launched a restricted stock incentive plan in August 2024, granting 3.525 million shares, approximately 1.52% of the total share capital. The performance targets include a 30% increase in revenue for 2024 and 60% for 2025 compared to 2023, with similar growth targets for total profit. The incentive plan is based on the current business expansion and aims to motivate employees while fostering high-quality development [2] - The company's EPS forecasts for 2024-2026 have been adjusted to 0.44, 0.62, and 0.78 RMB, down from previous estimates of 0.70 and 0.92 RMB for 2024-2025. This adjustment is primarily due to lower-than-expected production volume of borosilicate molded bottles and a downward revision of the gross margin for pharmaceutical glass revenue, alongside an increase in operating expenses due to new business expansion. The average PE ratio for comparable companies in 2025 is projected at 30X, leading to a target price of RMB 18.60, maintaining a "buy" rating [2]
力诺药包(301188)：股权激励指引方向 持续回购增强信心