WONLY(SH:605268) Xin Lang Cai Jing·2025-09-20 04:28Financial Performance - In Q2 2025, the company's revenue reached 900 million, representing a 9% year-on-year increase, while the net profit attributable to the parent company was 40 million, up 14% year-on-year, and the net profit after deducting non-recurring items was also 40 million, reflecting a 14% increase [1] - For the first half of 2025, the company reported revenue of 1.4 billion, a 10% increase year-on-year, with a net profit attributable to the parent company of 70 million, up 24% year-on-year, and a net profit after deducting non-recurring items of 56 million, also up 24% year-on-year [2] Sales Channels - The company has established a diversified sales channel system, including distributors (both retail and engineering), engineering channels, and e-commerce channels, with the following revenue contributions in H1 2025: 360 million from the C-end distributor channel (up 15%), 320 million from the B-end distributor channel (up 4%), and 700 million from the engineering channel (up 14%) [2] - The company has developed a comprehensive marketing network covering all 31 provinces, autonomous regions, and municipalities in China, continuously promoting the addition, replacement, and upgrading of sales points [4] Supply Chain Optimization - The company plans to build a new production base in Songzi, Hubei, to optimize its production base layout and improve the regional supply chain system, aiming to create a triangular supply network in the Yangtze River Delta, Central China, and Southwest regions [3] Profit Forecast Adjustment - Based on the performance in H1 2025, the company has updated its profit forecast, expecting revenues of 3.5 billion, 4.1 billion, and 4.7 billion for 2025-2027, with net profits of 180 million, 230 million, and 300 million for the same period, and EPS of 0.4, 0.5, and 0.7 yuan, with corresponding PE ratios of 26, 20, and 15 times [5]