非标净利润同增36%，广告业务贡献高质量增长 核心产品推动业绩快速增长，积极推进创新药研发 出海逻辑强化第二增长曲线，差异化产品组合及医学服务优势突出 业绩同比大幅改善，增厚股东回报 Fixed Income Daily Market Update Raise TP and estimates on 4Q23 beat; All eyes on EV official launch on 28 March Expect another fruitful year in 2024 Impressive FY24E guidance with decent yield Steady rev growth with on-track loss reduction Expectations reset with positive initiatives