Anjoy food(SH:603345) Minsheng Securities·2024-08-20 07:30Investment Rating - The report maintains a "Recommended" rating for the company [2] Core Views - The company reported a revenue of 7.54 billion yuan for the first half of 2024, representing a year-on-year increase of 9.42%, with a net profit attributable to shareholders of 800 million yuan, up 9.2% year-on-year [1] - The company is focusing on shareholder returns, proposing a cash dividend of 1.38 yuan per share for the first half of 2024, with total cash dividends and buybacks amounting to approximately 460 million yuan, accounting for 57.5% of net profit [1] - The company is actively adjusting to external demand challenges and is optimistic about its growth potential through multi-category and multi-channel strategies [1] Financial Performance Summary - For Q2 2024, the company achieved a revenue of 3.79 billion yuan, a year-on-year increase of 2.3%, and a net profit of 360 million yuan, up 2.5% year-on-year [1] - The gross profit margin for the first half of 2024 was 23.9%, with a slight increase in Q2 to 21.3% [1] - The company expects revenues of 15.44 billion yuan, 16.84 billion yuan, and 18.22 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 1.62 billion yuan, 1.77 billion yuan, and 1.90 billion yuan [6][7]