On November 22, Gelonhui reported that guolian's research reports pointed out that huadong medicine (000963.SZ) has a deep heritage, stable operation, excellent historical market performance, with a revenue CAGR of 9.3% from 2013 to 2023, and a net income CAGR of 14.3%. The company's management team has a global perspective and efficient execution capabilities. Faced with profound changes and challenges in the pharmaceutical industry, they are firmly promoting the company's transformation, with innovative drugs and medical beauty business gradually becoming new growth drivers. Currently, multiple innovative drugs and medical beauty products have entered the clinical evaluation stage, with a wave of new products expected to be approved intensively in 2024-2025. They are poised to quickly ramp up with the company's strong sales resources, providing a second growth curve for the company. The company is a leading enterprise in the Chinese meheco group industry, with obvious brand and channel advantages. The innovative transformation has shown results. First coverage, with a "buy" rating.