Ge Long Hui A P P·2025-12-22 08:01Group 1 - The core viewpoint of the report indicates that Focus Media's ladder media advertising remains resilient, with attention on the progress of the "Tap and Go" business and acquisition matters [1] - The company benefits from strong demand for advertising from internet clients, maintaining a stable fundamental performance, and the "Tap and Go" business is expected to contribute to revenue growth [1] - Due to cautious principles, the company has not yet considered the impact of the consolidation of New潮传媒, and given the weak recovery of the macro economy, there is still pressure on consumer goods advertisers [1] Group 2 - The profit forecast for the years 2025 and 2026 has been slightly revised down to 5.62 billion and 6.05 billion yuan respectively, reflecting a decrease of 5% from previous predictions [1] - A new profit forecast for 2027 has been introduced at 6.47 billion yuan [1] - The report maintains a "Buy" rating, considering the growing market value of the ladder media industry and the strong barriers related to the company's media and client resources [1]