Ge Long Hui A P P·2025-10-30 06:20Core Viewpoint - The report from Pacific Securities highlights that Zhongshun Jierou's net profit attributable to shareholders for the first three quarters of 2025 reached 230 million yuan, representing a year-on-year increase of 329.59%, with Q3 net profit at 80 million yuan, up 335.38% [1] Industry Summary - The decline in upstream raw material prices and the overall optimization of product structure in the industry are contributing factors to the company's strong performance [1] - As a leading player in the household paper industry, the company is expected to be among the first to benefit from growth dividends due to these favorable industry conditions [1] Company Summary - The company continues to enrich its product matrix and enhance its pricing strategy, while establishing a diversified marketing network through six major channels [1] - The overseas business is anticipated to become a new growth engine, which may accelerate revenue growth and facilitate rapid recovery in performance, supporting the company's long-term growth [1] - The investment rating is maintained at "Buy" [1]