Ge Long Hui·2025-09-16 07:45Core Viewpoint - The report from Tianfeng Securities indicates that Lihigh Food's net profit attributable to shareholders for the first half of 2025 is expected to reach 171 million yuan, representing a year-on-year increase of 26.2% [1] Financial Performance - In Q2 2025, the net profit attributable to shareholders is projected to be 82 million yuan, showing a year-on-year growth of 40.8% [1] - The company anticipates that the revenue growth will continue due to seasonal demand in the baking sector, new product launches, and expansion in tea beverage channels during the upcoming holidays [1] Growth Drivers - The medium to long-term growth is supported by several factors: 1. Domestic substitution of cream products 2. Expansion of dining and new retail channels 3. Deep processing of dairy products [1] Profit Forecast - The expected net profits attributable to shareholders for 2025, 2026, and 2027 are projected to be 320 million, 360 million, and 400 million yuan respectively, with growth rates of 20%, 12%, and 10% [1] - The previous forecasts for 2025 and 2026 were 300 million and 370 million yuan, with growth rates of 9% and 24% [1] Valuation - The corresponding price-to-earnings ratios (PE) for 2025, 2026, and 2027 are estimated to be 25X, 22X, and 20X respectively [1] - The report maintains a "Buy" rating for the company [1]