Core Viewpoint - The acquisition of Siyuanli is expected to significantly enhance the company's performance, leading to an upward revision of the net profit forecasts for 2025-2027 [1] Group 1: Financial Performance and Projections - The revised net profit estimates for Meili Tianyuan Medical Health (02373) are 320 million, 440 million, and 490 million RMB for 2025, 2026, and 2027 respectively, reflecting increases of 5%, 26%, and 21% [1] - Corresponding EPS for the same years are projected to be 1.36, 1.86, and 2.09 RMB, with current PE ratios of 20, 14, and 13 times [1] Group 2: Shareholder Return Plan - The company announced a long-term shareholder return plan, aiming to utilize up to 1.2 billion HKD over the next three years [2] - The return plan will be executed through two main methods: annual dividends of no less than 50% of the company's net profit and ongoing share buybacks [3] Group 3: Acquisition of Siyuanli - The company announced a strategic acquisition of 100% of Siyuanli for 1.25 billion RMB, which is the third-largest beauty service brand in China [4] - Following the acquisition, approximately 60,000 active members from Siyuanli will be integrated into the company's membership system, increasing the active membership base by over 44% [4] - The acquisition is expected to significantly enhance the company's market share in high-tier cities, solidifying its position as an industry leader [4] Group 4: Growth Strategy - The company employs a "dual growth" strategy, combining organic growth with acquisitions, which has successfully built a high-quality membership system [5] - The successful integration of the second-largest brand, Nairui, has demonstrated the company's capability in synergistic integration, with Nairui's net profit margin increasing from 6.5% to 10.4% post-acquisition [5] - The company anticipates that the acquisition of Siyuanli will further enhance operational efficiency and strengthen the competitive position of both Siyuanli and Meili Tianyuan brands [5]