Investment Rating - The report maintains a "Buy" rating for the company, with a target price indicating a potential upside of 10%-20% over the next six months [8][24]. Core Insights - The company has developed and launched various dental care products, including desensitizing agents and oral hygiene items, while actively expanding into high-end manufacturing and oral medical services [4][22]. - The market share of the company's desensitizing toothpaste has consistently increased, reaching 8.57% in the offline retail market, placing it among the top three in the industry [13][20]. - The company is focused on building a multi-channel operational model and has implemented a sales strategy that emphasizes distribution, key accounts, e-commerce, and new retail channels [7][14]. Financial Projections - Revenue is projected to grow from 1.53 billion in 2024 to 2.05 billion in 2026, with net profits expected to rise from 161 million to 227 million during the same period [15][18]. - The earnings per share (EPS) are forecasted to increase from 0.94 in 2024 to 1.32 in 2026, with corresponding price-to-earnings (P/E) ratios decreasing from 34x to 24x [15][18]. Business Development - The company is actively pursuing partnerships with dental experts to enhance its product offerings and is committed to becoming a leader in the oral health and beauty industry [9][22]. - The company has established a strong presence in the sensitive teeth segment, holding over 60% market share in the Chinese desensitizing toothpaste market [20][22]. - Future plans include expanding into electric toothbrushes and other specialized oral care products, while enhancing digital marketing efforts [22][21].
登康口腔：成长规划清晰