Group 1 - The company maintains profit forecasts of 2.5 billion and 3.2 billion for 2025 and 2026, respectively, with current stock price corresponding to 21x and 17x P/E for those years, indicating a 50% upside potential [1] - The company is viewed positively as a leader in collagen protein restructuring, with recommendations to strategically position for the upcoming Double Eleven shopping season [1] - Short-term impacts from events are gradually dissipating, with self-broadcasting continuing to show strong growth and brand acquisition efforts recovering [2][3] Group 2 - The company has successfully optimized its self-broadcasting matrix and product selection strategy, maintaining good growth despite short-term event impacts, with GMV growth exceeding 50% for the 可复美 brand in July and August [3] - The company has established multiple product lines under the 可复美 brand, including collagen repair series and focus series, with strong performance in the collagen repair series [4] - As the Double Eleven shopping season approaches, increased broadcasting frequency is expected to drive brand momentum and recovery in customer acquisition [5]
中金：维持巨子生物跑赢行业评级 目标价82港元