WLY(000858) 天风证券·2025-01-14 09:09Investment Rating - The investment rating for the company is "Buy" with a 6-month outlook maintained [4] Core Insights - The company aims to enhance its marketing execution in 2025, focusing on improving both value and market share [1][2] - The marketing strategy for 2024 emphasizes driving sales, stabilizing prices, enhancing efficiency, and changing operational styles amidst a challenging market environment [1] - The company plans to deepen brand value through cultural exploration and high-quality platform engagement, while also optimizing its product system [1][2] - The financial projections for 2024-2026 indicate a revenue growth of 8% in 2024, 7% in 2025, and 9% in 2026, reaching 89.5 billion, 95.8 billion, and 104.3 billion respectively [2][3] Financial Data Summary - Revenue (in million yuan): - 2022: 73,968.64 - 2023: 83,272.07 - 2024E: 89,521.06 - 2025E: 95,818.49 - 2026E: 104,325.94 [3][10] - Net profit attributable to the parent company (in million yuan): - 2022: 26,690.66 - 2023: 30,210.59 - 2024E: 32,606.42 - 2025E: 34,971.10 - 2026E: 38,098.41 [3][10] - Earnings per share (in yuan): - 2022: 6.88 - 2023: 7.78 - 2024E: 8.40 - 2025E: 9.01 - 2026E: 9.82 [3][10] Market Strategy - The company will focus on five key areas in 2025: 1. Quality innovation to enhance product strength 2. Precise brand building to enhance brand strength 3. Detailed market cultivation to enhance channel strength 4. Rapid market response to enhance service strength 5. Quality management to enhance execution strength [2]