巴比食品：扣非净利润同比增长18.02%，东鹏股票贡献收益-20250215

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6]. Core Views - The company reported a revenue of 1.671 billion yuan for 2024, representing a year-over-year growth of 2.53%. The net profit attributable to shareholders was 277 million yuan, reflecting a year-over-year increase of 29.64%. The non-recurring net profit was 210 million yuan, up 18.02% year-over-year [1][3]. - The company is expected to recover through store repairs, accelerated store openings, and mergers and acquisitions, with adjusted revenue growth rates for 2024-2026 set at 3%, 8%, and 7% respectively [3]. Financial Data Summary - Earnings per share (EPS) for 2024 is projected at 1.11 yuan, a year-over-year increase of 29.07% [2]. - The weighted average return on equity (ROE) is 12.26%, an increase of 2.24 percentage points [2]. - Total assets are reported at 2.86 billion yuan, with a year-over-year growth of 2.72% [2]. - The company’s total revenue is forecasted to reach 1.932 billion yuan by 2026, with a growth rate of 6.97% [4]. - The net profit attributable to the parent company is expected to be 301.5 million yuan in 2026, with a growth rate of 8.40% [4].