**Title:** "Eyenovia's Revenue Soars Nearly 10x: New Products Propel Growth Amidst Industry Challenges"

Eyenovia's Financial Performance

Eyenovia (stock code: EYEN) recorded a total operating revenue of RMB2,809.3 million as of December 31, 2024, a significant increase of approximately 9.84 times from RMB258.9 million as of December 31, 2023. This remarkable growth indicates significant progress in revenue generation, possibly due to the launch of new products or increased market demand.

Key Financial Data

1. The total operating revenue increased from RMB258.9 million to RMB2,809.3 million, a growth of approximately 9.84 times, demonstrating a significant enhancement in the company's competitiveness in the market.

2. The launch of new products in 2024, including MicroPine and Clobetasol, is expected to drive sales growth.

3. The net cash provided by financing activities in 2024 was RMB175,548,640, providing financial support for the company's business expansion.

4. The company adjusted its sales strategy, suspending the promotion of certain products to cope with changes in the market environment.

5. The overall revenue of the industry remained flat, and Eyenovia's growth performance was particularly outstanding, demonstrating the effectiveness of its market strategy.

Peer Comparison

1. Industry-wide analysis: In the biopharmaceutical industry, companies' operating revenues are usually affected by the progress of new drug development and market acceptance. Although the overall revenue in 2024 remained flat, Eyenovia's significant growth indicates high market acceptance of its new products, which may lead industry trends.

2. Peer evaluation analysis: Eyenovia's operating revenue growth is remarkable, compared to the slow growth of other companies in the industry, reflecting the effectiveness of its market strategy and product innovation, enhancing its competitiveness in the industry.

Summary

Eyenovia's operating revenue performance in 2024 is outstanding, with significant growth, mainly due to the launch of new products and effective market strategies. The company's necessary adjustments in response to changes in the market environment demonstrate its ability to flexibly cope with market challenges.

Opportunities

1. With the launch of new products such as MicroPine and APP-13007, Eyenovia can enter new market segments and meet the growing demand for children's myopia treatment.

2. The company's focus on technological innovation and product development, especially the development of Optejet devices, may further improve drug delivery efficiency and patient medication experience.

3. External financing support provides sufficient financial guarantees for the company's business expansion and market share enhancement.

Risks

1. Changes in the market environment may affect the sales and market acceptance of new products, especially in the biopharmaceutical industry, where competition is intense.

2. The overall biopharmaceutical industry faces significant operating pressures, and if industry revenue remains flat, it may pose a challenge to Eyenovia's growth.

3. The suspension of the promotion of certain products may cause short-term revenue fluctuations, affecting investor confidence.