落实“质量回报双提升”，提振长期发展信心

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [23][29]. Core Insights - The company focuses on its core business in biomedicine, with strong competitive advantages in its main products, including interferon series products and growth hormone series products, leading to stable revenue growth [28]. - The company is expected to achieve a net profit attributable to shareholders of 780 to 920 million RMB in 2023, representing a year-on-year growth of 10.90% to 30.81% [28]. - The company has a consistent history of cash dividends, having distributed a total of 1.827 billion RMB since its listing, and plans to maintain a stable and sustainable shareholder return mechanism [28]. Financial Summary - The company's revenue is projected to grow from 2,331 million RMB in 2022 to 2,893 million RMB in 2023, reflecting a growth rate of 24.10% [21]. - The net profit attributable to shareholders is expected to increase from 703 million RMB in 2022 to 881 million RMB in 2023, with a growth rate of 25.30% [21]. - The earnings per share (EPS) is forecasted to rise from 0.420 RMB in 2022 to 0.526 RMB in 2023 [21]. Research and Development - The company is advancing its R&D efforts, with key projects in clinical trials, including long-acting growth hormone and new indications for existing products, which are expected to enhance its core competitiveness [28]. Market Performance - The report indicates a positive market sentiment with multiple "Buy" recommendations over the past year, reflecting confidence in the company's growth trajectory [9][29].