Company Overview - The company announced a share buyback plan of up to 104 million shares, representing 10% of the total issued shares, which reflects management's confidence in long-term growth [1] - The buyback is expected to enhance earnings per share and improve shareholder returns [1] Strategic Planning - The company has a clear product matrix and channel expansion plan for 2026, with a rich pipeline of new products, including four key new products in the collagen repair and focus series [2] - The company plans to strengthen its online influencer matrix and self-operated team while expanding offline channels, including clinics and OTC markets, as well as its own store layout [2] - The company is successfully advancing its second curve in the medical beauty sector, with a growing team and strong commercialization preparations [2] Financial Forecast and Valuation - Due to short-term pressure on cosmetics sales, the company has lowered its net profit forecasts for 2025 and 2026 by 25% and 33% to 1.91 billion and 2.14 billion yuan, respectively [2] - The current stock price corresponds to a P/E ratio of 20x for 2025 and 18x for 2026, with a target price adjustment down by 20% to 56 HKD, indicating a potential upside of 41% [2]
巨子生物(02367.HK)：拟回购股份彰显信心 26年产品矩阵拓展可期