COSMOS(SZ:300856) Tianfeng Securities·2024-08-21 00:39Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the stock with expected returns exceeding 20% over the next six months [3][10]. Core Insights - The company reported a revenue of 1.405 billion with a year-on-year growth of 18.01% and a net profit of 421 million, reflecting a year-on-year increase of 20.24% for the first half of 2024 [1]. - The company has a strong focus on innovation and R&D, with 196 authorized patents, including 54 invention patents, which supports its future growth [2]. - The product portfolio is diverse, expanding beyond traditional sunscreen agents to include new chemical and physical sunscreen agents, as well as surfactants and other raw materials for personal care [2]. - The company has successfully completed the trial run of a 1,000-ton production line for a new sunscreen agent and is advancing the market promotion of new personal care products [2]. - The company is expected to see an increase in the utilization rate of new sunscreen agents and a rise in the proportion of high-margin personal care products [2]. Financial Summary - For 2024, the company is projected to achieve a net profit of 848 million, with a growth rate of 15.60% [6]. - The revenue forecast for 2024 is 3.036 billion, with a growth rate of 26.50% [6]. - The company's EBITDA is expected to reach 1.121 billion in 2024, reflecting a strong operational performance [6]. - The projected earnings per share (EPS) for 2024 is 2.50 yuan, with a price-to-earnings (P/E) ratio of 10.80 [6].