Ge Long Hui A P P·2025-08-13 07:22Group 1 - The core viewpoint of the article highlights that Focus Media's "Touch and Go" initiative marks a new era of integration between media and effectiveness, supported by a strong fundamental performance in the building media sector [1] - The competitive landscape for Focus Media continues to improve, with building media revenue projected to account for 94.19% in 2024, providing a core advantage for the "Touch and Go" expansion [1] - With the recovery in consumer spending, the cyclical logic suggests that the high operating leverage model combined with the incremental benefits from "Touch and Go" is expected to release significant elasticity in profits [1] Group 2 - Short-term focus is on the profit elasticity release from the "Touch and Go" CPS model and cost optimization following the integration of new trends [1] - In the medium to long term, there is optimism regarding the potential for increased commission rates from "Touch and Go" and the strengthening of pricing power in lower-tier markets due to acquisitions of new trends [1] - The company's performance is continuously recovering and is expected to benefit from both short-term and long-term driving factors, leading to an increase in valuation, with a target PE of 30 times for 2025 and a "Buy" rating maintained [1]