Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The main brand of the company has shown stable operational metrics, with a recovery in sales since October, achieving double-digit growth both online and offline [3][4] - The company has slightly adjusted its profit forecast for 2024-2026, expecting net profits of 1.24 billion, 1.40 billion, and 1.57 billion RMB respectively, with the current stock price corresponding to P/E ratios of 11.2, 9.9, and 8.8 times [3][4] Financial Summary and Valuation Metrics - Revenue (in million RMB) is projected to be 13,925 in 2024, with a year-over-year change of -2.9% [4] - Net profit (in million RMB) is expected to be 1,239 in 2024, reflecting a year-over-year growth of 20.3% [4] - Gross margin is forecasted to be 44.0% in 2024, with a net margin of 8.9% [4] - Return on equity (ROE) is anticipated to be 13.2% in 2024, increasing to 15.2% by 2026 [4] - Earnings per share (EPS) is projected at 0.5 RMB for 2024, with P/E ratios decreasing from 11.2 in 2024 to 8.8 in 2026 [4]
特步国际：港股公司信息更新报告：2024Q3索康尼表现亮眼，主品牌经营指标稳健