Clear Medicine (01406.HK) is an ophthalmology specialist private clinic that provides comprehensive ophthalmic services to patients and focuses on the treatment of various refractive services and other eye problems, including standard white internal barrier surgery, laser procedures, vitrectomy, medical care and examination services.

Predictable health care plan: even if the growth of clear medicine (01406.HK) in the past few years is a little bit slower, we see that the future medical center plan is designed to increase exercise capacity. Clear Medicine (01406.HK) Program I) A hospital outside the Mong Kok Medical Centre (ii) will open a flagship store in Tsim Sha Tsui. We accept that the limited supply of qualified ophthalmologists is one of the low certainty factors in the collection plan, which may slow down the whole planning due to the scarcity of qualified doctors. however, we believe that the cost of medical centers is the growth space that can be achieved in the future.

Opportunities for 01406.HK: 01406.HK is focused on providing ophthalmic services in Hong Kong. Comprehensive ophthalmic services provide opportunities for 01406.HK to work with hospitals, especially some hospitals that do not provide ophthalmic services. We believe that this kind of cooperation will be beneficial to clear doctors (01406.HK), including I) for the collection of large customer bases, especially for previously unavailable hospital patients, ii). In addition, I believe that it is necessary to set foot in China's domestic market at an appropriate time, mainly because I) the strength of China's domestic market is strong, and ii) has made adequate preparations for entering the Chinese domestic market, including the reservation of financial resources and the introduction of executives and investors with relevant experience and personnel.

Valuation: the operating price-to-earnings ratio of clear Medicine (01406.HK) is 17.2x, which is the lower-middle level since the listing of Marketplace.

However, its valuation is still higher than that of Hong Kong-listed 01846.HK and 02219.HK ophthalmology, although its valuation is lower than that of leaders with Chinese background, such as 300015.CH and 03309.HK. In addition, a collection in early 2022 also limited the valuation growth of ophthalmic service providers. We believe that 01406.HK 's current payoff plan may be completed smoothly under certain conditions, making its growth predictable, but we reserve a cautious margin for its valuation and stock performance, especially I) with the help of falling market environment and ii) stock value correction, it is possible to further improve the cluster's price-to-earnings ratio valuation to offset its growing earnings statement.