Ge Long Hui A P P·2025-09-22 05:45Core Viewpoint - The report from Tianfeng Securities indicates that Lutai A's net profit attributable to shareholders reached 360 million, a year-on-year increase of 112%, with Q2 net profit at 200 million, up 109% [1] Financial Performance - In the first half of the year, fabric revenue decreased by 7.85% to 1.9 billion, with both sales volume and price declining [1] - Shirt revenue increased by 24.82% to 800 million, primarily driven by sales volume growth, while prices remained stable [1] Market Conditions - The impact of equal tariffs is expected to gradually manifest after April 2025, with clients delaying or postponing orders in May and June due to cautious sentiment, leading to a slight impact on apparel sales in Q2 [1] - Although a final agreement on the China-U.S. tariff issue has not been reached, there are signs of easing, and clients have a demand for replenishment orders [1] Strategic Focus - The company emphasizes channel development and aims to create a diversified market layout [1] - The profit forecast has been adjusted, maintaining a "buy" rating [1]