CHJ(SZ:002345) Xin Lang Cai Jing·2026-02-08 06:34Group 1 - The company is enhancing its brand differentiation in the fashion jewelry sector by collaborating with well-known IPs such as "Doraemon" and "Crayon Shin-chan," and plans to deepen its partnership with Sanrio in 2025 by launching the "Pudding Dog" and "Mermaid Hanton" series targeting Gen Z consumers [1] - The company has successfully transformed jewelry into social and emotional "trendy toys," and has engaged in cross-marketing with McDonald's, further leveraging its IP matrix effect [1] - The "One City, One Intangible Cultural Heritage" strategy has been effectively implemented, with significant sales growth reported during events in Nanjing and Shantou, including a 238% year-on-year increase in sales during the Shantou event and a 751% increase on the unveiling day [1] Group 2 - The company forecasts a strong performance for the full year 2025, expecting a net profit attributable to shareholders of 436 to 533 million yuan, representing a year-on-year increase of 125% to 175% [2] - Excluding a one-time non-operating factor related to goodwill impairment of approximately 171 million yuan for its subsidiary FION, the actual operating net profit is projected to be between 607 to 704 million yuan, indicating a significant release in profitability [2] - The company is positioned for growth through channel expansion and improved single-store efficiency, with projected net profits of 490 million, 650 million, and 750 million yuan for 2025 to 2027, corresponding to PE ratios of 24.4, 18.5, and 16.0 times [2]