Core Viewpoint - Rongmei Co., Ltd. is a well-known online apparel brand in China, established in 2012 and listed on the Shenzhen Stock Exchange in 2021, focusing on high-cost performance clothing products through unique planning, design, and supply chain management [1] Financial Performance - In Q3 2025, Rongmei achieved a revenue of 442 million yuan, ranking 28th among 38 companies in the industry, significantly lower than the top competitor Haian's 15.599 billion yuan and second-place Semir's 9.844 billion yuan, as well as below the industry average of 2.251 billion yuan and median of 1.247 billion yuan [2] - The net profit for the same period was 43.2864 million yuan, ranking 16th in the industry, far behind the first-place Yagor's 2.334 billion yuan and second-place Haian's 1.844 billion yuan, but above the industry median of 34.8188 million yuan, though below the average of 176 million yuan [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 2.32%, down from 2.87% year-on-year, significantly lower than the industry average of 38.41%, indicating strong debt repayment capability [3] - The gross profit margin was 43.32%, an increase from 40.99% year-on-year, slightly below the industry average of 44.68% [3] Executive Compensation - The chairman, Guo Jian, received a salary of 913,200 yuan in 2024, an increase of 81,800 yuan from 2023, while the general manager, Wendy, also received the same salary with the same increase [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 11.09% to 16,800, while the average number of circulating A-shares held per shareholder increased by 12.47% to 11,200 [5] Future Outlook - Tianfeng Securities noted that Rongmei's revenue for 2024 is expected to be 700 million yuan, a 10% year-on-year decline, while the net profit is projected to be 100 million yuan, a 26% year-on-year increase [5] - The company is optimizing traffic costs and improving gross margins, with plans for office renovations and the establishment of display stores and live streaming rooms [5] - The profit forecast for 2025-2027 is adjusted to 120 million yuan, 140 million yuan, and 160 million yuan respectively, maintaining a "buy" rating [5][6]
戎美股份的前世今生：2025年三季度营收4.42亿排名28，净利润4328.64万排名16，均低于行业平均