Investment Rating - The report maintains a "Buy" rating for the company, indicating a strong expectation of performance exceeding the market by over 20% in the next six months [4][5]. Core Insights - The company is projected to achieve significant revenue growth, with a forecasted revenue of 34-36 billion RMB for the first half of 2024, representing a year-on-year increase of 114.3%-126.9% [4]. - The net profit for the same period is expected to be between 3.9-4.1 billion RMB, reflecting a year-on-year growth of 286.1%-305.9% [4]. - The company's main brand, 韩束 (Hansu), has shown strong performance with a GMV of 34.49 billion RMB, leading the market [4]. - The company is focusing on enhancing its product quality and expanding its brand portfolio, particularly in the hair care segment [4][5]. Financial Data and Profit Forecast - The company’s projected revenues for 2024, 2025, and 2026 are 68.61 billion RMB, 88.47 billion RMB, and 105.28 billion RMB, respectively, with year-on-year growth rates of 64%, 29%, and 19% [5][6]. - The expected net profit for the same years is 9.25 billion RMB, 12.40 billion RMB, and 15.07 billion RMB, with growth rates of 101%, 34%, and 22% [5][6]. - The earnings per share (EPS) are forecasted to be 2.32 RMB, 3.12 RMB, and 3.79 RMB for 2024, 2025, and 2026, respectively [5][6].
上美股份：业绩翻倍，韩束抖音霸榜，看好洗护品类及多品牌曲线