曼卡龙跌7.46% 华源证券今刚喊增持就跌

Core Viewpoint - Mankalon (300945.SZ) reported a closing price of 18.62 yuan, with a decline of 7.46% [1] Financial Projections - Huayuan Securities analyst Ding Yi forecasts Mankalon's revenue for 2025-2027 to reach 2.954 billion, 3.628 billion, and 4.352 billion yuan, representing year-on-year growth rates of 25.30%, 22.82%, and 19.97% respectively [1] - The expected net profit attributable to shareholders for the same period is projected to be 122 million, 157 million, and 190 million yuan, with year-on-year growth rates of 26.97%, 28.42%, and 21.25% respectively [1] - The current price-to-earnings (PE) ratios are estimated to be 43.20, 33.64, and 27.75 for the years 2025, 2026, and 2027 [1] Comparative Analysis - Mankalon is compared with other jewelry companies such as Chaohongji (002345), Zhou Dasheng (002867), and Dia Shares (301177), with the comparable companies' PE ratio for 2025 expected to be 48 [1] - The company is expected to benefit from strong growth in its e-commerce segment and expansion into new regions from core provinces, which will likely drive revenue growth [1] Growth Potential - Future product optimization is anticipated to further enhance performance growth potential, leading to an initial coverage rating of "Accumulate" [1]