BROS(SH:601339) Xin Lang Cai Jing·2025-04-29 02:35Group 1 - In 2024, the company achieved a revenue of 7.941 billion yuan, a year-on-year increase of 14.86%, and a net profit attributable to shareholders of 410 million yuan, a decrease of 18.62% compared to the previous year due to high investment income in the prior year [1] - The company turned around its net profit after deducting non-recurring items to 220 million yuan, indicating a significant improvement in its core profitability [1] - The company launched various new color and style products to meet the procurement needs of global apparel brands, leading to a record high yarn sales volume of 242,300 tons, an increase of 11.84% year-on-year [1] Group 2 - The gross margin for 2024 was 10.20%, an increase of 1.55 percentage points year-on-year, while the net profit margin decreased by 2.13 percentage points to 5.16% [2] - The company has maintained a unique operational model of "small batch, multiple varieties, and quick response" in the color-spun yarn industry for over 30 years, focusing on providing a full range of reliable quality color-spun yarns primarily made of pure cotton [2] - The company forecasts earnings per share (EPS) for 2025-2027 to be 0.33 yuan, 0.37 yuan, and 0.40 yuan, corresponding to price-to-earnings (PE) ratios of 14.6X, 13.3X, and 12.2X, respectively, and has given an initial investment rating of "Accumulate" [2]