东莞证券给予珀莱雅买入评级

Group 1 - Dongguan Securities issued a report on August 26, giving Proya (603605.SH) a buy rating [1] - The reasons for the rating include a year-on-year decline in performance growth for Q2 2025 [1] - Proya's core brand revenue experienced a slight year-on-year decrease, while online channel revenue continued to grow [1] Group 2 - The pet industry is experiencing a significant boom, with a market size of 300 billion yuan [1] - The report highlights that listed companies in the industry are seeing a surge in stock prices [1]