Orient Securities(600958) 搜狐财经·2025-03-31 12:39Core Viewpoint - The company, Beiqing Song (688793), is focusing on the development of smart portable massage devices that cater to the elderly, integrating traditional Chinese medicine with modern technology, and is expanding its international marketing strategies to enhance brand recognition and sales growth [2][3][4]. Group 1: Product and Market Strategy - The company offers a range of products designed to alleviate pain and improve blood circulation for elderly users, with 13 products listed in a government initiative for smart home upgrades by the end of 2024 [2]. - The overseas marketing strategy combines online and offline approaches, utilizing major e-commerce platforms like Amazon and TikTok, and establishing a physical presence with an airport experience store in Singapore [3][4]. - The company is implementing localized operations by setting up subsidiaries to better understand and meet market demands, which supports the expansion of its international channels [4]. Group 2: Financial Performance - For the first three quarters of 2024, the company's overseas revenue increased by 28% year-on-year, indicating a successful international expansion [4]. - The company's main revenue for the third quarter of 2024 was 233 million yuan, a decrease of 31.92% year-on-year, while the net profit attributable to shareholders was -13.03 million yuan, down 244.58% year-on-year [4]. - The company reported a gross margin of 63.21% and a debt ratio of 48.47%, with investment income of 556,600 yuan and financial expenses of 2.08 million yuan [4]. Group 3: Analyst Ratings and Predictions - In the last 90 days, five institutions provided ratings for the stock, with two buy ratings, two hold ratings, and one neutral rating, and the average target price was set at 28.14 yuan [5]. - Detailed profit forecasts from various institutions indicate a projected net profit of 9 million yuan for 2024, increasing to 63 million yuan in 2025 and 90 million yuan in 2026 [6].