研报掘金丨太平洋证券：维持建发股份“增持”评级，供应链盈利稳

Core Viewpoint - Pacific Securities research report indicates that Jianfa Co. is projected to achieve operating revenue between 673.6 billion and 693.6 billion yuan in 2025 [1] Group 1: Financial Projections - The company anticipates optimizing the management of two types of real estate-related subsidiaries in 2026-2027 to reduce costs and improve efficiency [1] - The overseas supply chain business is expected to reach approximately 14 billion USD in 2025, representing a year-on-year growth of about 37% [1] Group 2: Market Outlook - The continuous release of demand for home improvement in China may lead to a gradual recovery of the home retail market by the end of 2026 [1] - The company has announced three strategic goals for its supply chain over the next five years, which are expected to lay a foundation for future performance growth [1]