Core Viewpoint - The report from Huayuan Securities indicates that Mao Geping (01318) is positioned as a leading high-end cosmetics brand in China, with strong growth in skincare and makeup categories, benefiting from both online and offline channels, and a robust single product matrix driving growth. The company's brand value, channel advantages, and growth potential suggest a high certainty of future performance, maintaining a "Buy" rating [1]. Group 1 - The company announced a voluntary shareholder reduction plan, where major shareholders, including founder Mao Geping and other directors, plan to reduce their holdings by up to 3.51% of the total issued shares within six months, primarily through block trades [2]. - The proceeds from the share reduction will be used for investments in the beauty industry chain and personal improvements, while the major shareholders express confidence in the company's development and commitment to enhancing brand value and performance [2]. Group 2 - The company has signed a strategic cooperation framework agreement with L Catterton Asia Advisors, focusing on global market expansion, acquisitions, strategic investments, capital structure optimization, and talent introduction [3]. - L Catterton, a leading global consumer investment firm managing approximately $39 billion in equity capital, will assist the company in expanding its high-end retail channels overseas and aims to establish a joint equity investment fund focused on the global high-end beauty sector [3]. Group 3 - Based on the company's strong sales performance in both online and offline channels, the forecast for net profit attributable to the parent company is projected to be 1.21 billion, 1.58 billion, and 2.03 billion yuan for 2025, 2026, and 2027, representing year-on-year growth of 38%, 30%, and 28% respectively [4].
华源证券：维持毛戈平(01318)“买入”评级 公司发布自愿公告股东减持计划