Core Viewpoint - CITIC Securities has issued a "Buy" rating for October Rice Field (09676), projecting revenue and net profit growth for the years 2025, 2026, and 2027 [1] Financial Projections - Expected revenues for 2025, 2026, and 2027 are 6.994 billion, 8.369 billion, and 9.836 billion respectively, with net profits of 631 million, 796 million, and 974 million [1] - Third-quarter revenue is projected to be between 1.74 billion and 1.82 billion, representing a year-on-year increase of 25.7% to 31.5% [1] - Operating profit is estimated to be between 135 million and 150 million, showing a year-on-year increase of 71.5% to 90.5% [1] Company Overview - October Rice Field is recognized as a leading and rapidly growing household food company in China, with well-known brands such as October Rice Field and Chaihuo Dayuan [1] - The company maintains leading sales in rice and corn, initially focusing on rice and online channels, and is now expanding into other product categories and offline channels [1] Market Strategy - In 2024, the company successfully launched a viral corn product on Douyin, diversifying its product range beyond rice and aligning with changing consumer trends towards snack foods [1] - The company plans to deepen its corn category across all channels in 2025, while continuing to expand in offline channels such as Sam's Club and Pang Donglai, demonstrating strong growth momentum [1] Brand and Value Proposition - The company's brand possesses premium pricing power, and its marketing capabilities are notable, distinguishing it from traditional basic agricultural product companies [1] - The overall value of the company is expected to be gradually recognized by the market as it reduces reliance on rice revenue and enhances its offline channel presence [1]