CICC (China International Capital Corporation Limited): Maintains outperform rating on Visun Medical (02219) with a target price of HK$3.9.

According to the Wise Finance APP, CICC has released a research report stating that it maintains its forecast EPS for Chaoju Eye (02219) in 2025 and 2026 at 0.28 yuan and 0.30 yuan, with the current stock price corresponding to a P/E ratio of 9.9/9.0x for 2025-2026. It maintains an "outperform industry" rating with a target price of 3.90 Hong Kong dollars, corresponding to a P/E ratio of 13.0/11.9x for 2025-2026, representing a 30.0% upside potential from the latest closing price. Chaoju Eye announced its 1H25 results, with revenue of 698 million yuan, a 4.9% year-on-year decrease; net profit attributable to shareholders was 114 million yuan, a 16.7% year-on-year decrease, mainly due to the impact of high-value consumables tendering on profits and adjustments to some refractive surgery prices. The performance is basically in line with the bank's expectations.