AEOLUS(SH:600469) Ge Long Hui A P P·2025-09-09 09:35Core Viewpoint - Guohai Securities report indicates that Fengshen Co., Ltd. is experiencing a dual boost in domestic and overseas sales in H1 2025, with the 20,000 sets of giant tire projects progressing steadily. The company achieved a net profit attributable to shareholders of 103 million yuan in the first half of the year, a year-on-year decrease of 55.38% due to a 6.23% increase in raw material procurement prices and stable sales prices compared to the previous year, leading to a decline in product profitability [1] Domestic Market Performance - In the domestic market, the release of new production capacity has increased supply and demand pressure, resulting in intensified industry competition. The company continues to promote product structure upgrades and optimize market structure adjustments, launching new products and implementing precise marketing strategies. Domestic sales volume increased by 9.78% year-on-year, while revenue rose by 13.26% [1] Overseas Market Performance - In the overseas market, the global economic downturn has led to a decline in customer purchasing power, compounded by intensified competition. The company actively explores weaker markets through channel penetration and optimizes product structure in advantageous markets to increase sales opportunities. Sales volume in overseas markets increased by 10.97% year-on-year, with revenue rising by 8.78% [1] Company Positioning and Future Outlook - The company, a listed entity under China National Chemical Corporation, aims to build a world-class industrial tire manufacturing enterprise with the design and production capabilities for a full range of truck, bus, and off-road tires. The 20,000 sets of giant tire projects are progressing steadily, and the performance and brand recognition of its products are continuously improving. The company's growth potential is viewed positively, maintaining a "buy" rating [1]