CHJ(SZ:002345) EBSCN·2024-08-28 09:14Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Insights - The company achieved a revenue of 3.431 billion yuan in 1H2024, representing a year-on-year growth of 14.15%, and a net profit attributable to the parent company of 229 million yuan, which is a 10.04% increase year-on-year [1]. - The company expanded its jewelry store count by 52 in 1H2024, enhancing its product line [3]. - The comprehensive gross margin for 1H2024 was 24.15%, down 2.75 percentage points year-on-year, while the period expense ratio decreased by 2.65 percentage points to 14.64% [2]. Summary by Sections Financial Performance - In 1H2024, the company reported a revenue of 3.431 billion yuan, with a net profit of 229 million yuan, translating to an EPS of 0.26 yuan [1]. - For 2Q2024, the revenue was 1.635 billion yuan, showing a year-on-year increase of 10.33%, and a net profit of 99 million yuan, with an EPS of 0.11 yuan [1]. Margin Analysis - The comprehensive gross margin for 1H2024 was 24.15%, a decrease of 2.75 percentage points compared to the previous year [2]. - The period expense ratio for 1H2024 was 14.64%, down 2.65 percentage points year-on-year [2]. Store Expansion and Product Development - The company added 52 jewelry stores in 1H2024, with a total of 1,451 stores by the end of June 2024 [3]. - The company launched several new product lines, including collaborations with renowned artists and designers, enhancing its product offerings [3]. Earnings Forecast - The report maintains the earnings per share (EPS) forecast for 2024, 2025, and 2026 at 0.43, 0.49, and 0.55 yuan respectively [4].