仙乐健康(300791)：乘科技之风 迎重要时刻

Group 1 - The company has signed a non-binding letter of intent with a potential buyer for the acquisition of 100% equity in Best Formulations PC LLC (BFPC), which is expected to optimize its U.S. business structure and enhance overall profitability and market competitiveness [1] - The divestiture of BFPC is anticipated to significantly narrow losses, with projections indicating a loss of 130 million yuan for the first three quarters of 2025, thus boosting the company's profit performance post-sale [1] Group 2 - The company plans to issue H shares and list on the Hong Kong Stock Exchange, leveraging international capital market advantages to accelerate its globalization strategy and expand overseas markets [2] - Revenue distribution for the first half of 2025 shows significant contributions from various regions: 820 million yuan from mainland China, 760 million yuan from the Americas, 360 million yuan from Europe, and 100 million yuan from other regions, indicating a strong overseas business presence [2] Group 3 - The introduction of AI nutritionists and the JsRight brand aims to provide personalized nutrition solutions, transitioning from a one-size-fits-all approach to tailored health management, aligning with consumer demands for functionality and convenience [3] - The company is expected to strengthen its technological leadership in the "precision nutrition" sector, capturing potential market growth driven by consumer health trends [3] Group 4 - Due to the short-term impact of BFPC's losses on the company's financial statements, profit forecasts have been revised downwards, with expected net profits for 2025-2027 at 310 million, 410 million, and 500 million yuan respectively, reflecting a year-on-year change of -5.5%, +32.5%, and +22.8% [3]