Ge Long Hui·2025-12-29 05:14Group 1 - The core viewpoint of the report is that China Wangwang has established itself as a leading food and beverage company in China, with a diverse business portfolio including rice snacks, dairy beverages, and leisure foods [1] Group 2 - The projected revenue for China Wangwang for the fiscal years 2025 to 2027 is estimated to be 24.05 billion, 24.65 billion, and 25.27 billion yuan, reflecting annual growth rates of 2.3%, 2.5%, and 2.5% respectively [1] - The expected net profit attributable to shareholders for the same period is forecasted to be 4.17 billion, 4.41 billion, and 4.61 billion yuan, with a decline of 3.8% in 2025, followed by growth rates of 5.7% and 4.6% in 2026 and 2027 respectively [1] - The earnings per share are projected to be 0.35 yuan, 0.37 yuan, and 0.39 yuan for the fiscal years 2025, 2026, and 2027 [1] Group 3 - The report initiates coverage on China Wangwang with an "outperform" rating, suggesting a favorable outlook compared to the market [1] - A target price of 5.76 Hong Kong dollars is set for the company, based on a price-to-earnings ratio of 15 times for the fiscal year 2025, referencing comparable company valuations [1]