Ge Long Hui A P P·2025-09-12 05:27Core Viewpoint - The report from Dongfang Securities indicates that the terminal sales of Luolai Life have improved in July and August, reflecting a gradual recovery in the company's fundamentals [1] Group 1: Sales and Performance - Terminal sales in July and August showed improvement compared to the second quarter, with an expected year-on-year growth approaching double digits, laying a foundation for a slight increase in revenue in the second half of the year [1] - The feedback from the spring/summer ordering meeting held at the end of August was positive, indicating a gradual recovery in dealer confidence and recognition of the company's new products [1] Group 2: Company Strategy and Outlook - The company is one of the early adopters in the industry to optimize channels and inventory, leading to a steady improvement in operational quality in recent years [1] - The company is expected to maintain stable and sustainable profit growth over the next three years, combined with high dividend expectations, making it one of the more attractive options in the textile and apparel industry [1] Group 3: Valuation - Based on comparable companies, a 16 times PE valuation for 2025 is suggested, corresponding to a target price of 9.60 yuan, with a maintained "buy" rating [1]