Keeson(SH:603610) Xin Lang Cai Jing·2026-02-28 00:30Core Viewpoint - The company, established in 2005, is a leading manufacturer of smart electric beds, with an annual production capacity of one million units, and has built strong partnerships with major clients, positioning itself for continued growth in the smart bed market [1][2]. Group 1: Company Overview - The company has developed a stable customer base both domestically and internationally, forming long-term strategic partnerships with notable clients such as SSB and TSI [1]. - By December 2025, the company will be recognized as a senior member of the World Internet Conference, sharing its advancements in smart sleep technology with global partners [1]. - The company aims to maintain its industry leadership through technological advantages, global market strategies, and a "hardware + service" ecosystem [1]. Group 2: Market Growth and Strategy - The smart electric bed industry is entering a growth phase, driven by technological empowerment, policy support, and rising health demands, with the global market projected to grow from $3.19 billion in 2024 to $4.62 billion by 2029, at a CAGR of 8.9% [2]. - The company is enhancing product intelligence, transitioning from passive monitoring to active health management [2]. - In the domestic market, the company is expanding through brand integration and marketing strategies, while in international markets, it is leveraging supply chain capabilities to diversify its presence [2]. Group 3: Future Industry Focus - The company is aligning with the national "14th Five-Year Plan," focusing on brain-computer interfaces and robotics as key future industries [3]. - It has established a digital sleep fund to incubate innovative sleep solutions, with a focus on non-invasive brain-computer interface technology [4]. - The company has developed a new generation of brain-computer interface products, achieving high accuracy in sleep monitoring and addressing industry pain points [4]. Group 4: Financial Projections - The company is expected to achieve revenues of 3.038 billion yuan, 3.252 billion yuan, and 3.602 billion yuan from 2025 to 2027, with net profits of 196 million yuan, 242 million yuan, and 299 million yuan respectively [6]. - The current stock price corresponds to a P/E ratio of 33.2X, 27.0X, and 21.8X for the respective years [6].