Lafang(SH:603630) Xin Lang Cai Jing·2025-10-30 17:03Core Viewpoint - Lafang Jiahua is a leading domestic brand in the washing and hair care industry, with a focus on product development, production, and sales across various beauty segments, including hair care, skin care, and cosmetics [1] Group 1: Business Performance - In Q3 2025, Lafang Jiahua reported revenue of 627 million yuan, ranking 8th among 8 companies in the industry, with the industry leader, Proya, generating 7.098 billion yuan [2] - The main business revenue composition includes hair care at 778 million yuan (87.57%), other income at 84.56 million yuan (9.52%), soap at 25.22 million yuan (2.84%), and other supplementary income at 716,700 yuan (0.08%) [2] - The net profit for the same period was 12.71 million yuan, also ranking 8th in the industry, with Proya leading at 1.055 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Lafang Jiahua's debt-to-asset ratio was 11.38%, a slight decrease from 11.54% year-on-year, significantly lower than the industry average of 25.15%, indicating strong solvency [3] - The gross profit margin for the period was 48.49%, an increase from 47.39% year-on-year, but still below the industry average of 66.60%, suggesting room for improvement in profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 11.38% to 18,400, with an average holding of 12,300 circulating A-shares, a decrease of 10.22% [5] - The top ten circulating shareholders include Huaxia Domestic Demand Driven Mixed A (011278), which is a new shareholder holding 985,800 shares [5] Group 4: Future Outlook - Analysts predict that Lafang Jiahua will see significant revenue growth, with forecasts of 984 million yuan, 1.094 billion yuan, and 1.240 billion yuan for 2025-2027, respectively, alongside an EPS of 0.29, 0.33, and 0.35 yuan [5] - The company is expected to enhance its marketing efforts, particularly on platforms like Douyin, and is exploring opportunities in the medical beauty sector [6] - Forecasted net profits for 2025-2027 are 72 million yuan, 92 million yuan, and 115 million yuan, reflecting substantial year-on-year growth [6]