EASYHOME(000785) 天风证券·2025-03-19 02:23Investment Rating - The report maintains a "Buy" rating for the company with a target price not specified [5]. Core Insights - The company is accelerating its digital transformation and enhancing its smart home segment through a strategic partnership with UBTECH Robotics, aiming to deploy 500 humanoid robots by the end of 2025 and sell 10,000 units during the cooperation period [1]. - The company plans to leverage AI technology to integrate design and product transactions seamlessly, enhancing user experience in home decoration and smart home solutions [2]. - The financial forecast estimates EPS for 2024, 2025, and 2026 to be 0.17, 0.18, and 0.19 yuan respectively, with corresponding PE ratios of 28.76, 27.05, and 24.88 [3]. Financial Data and Valuation - Revenue projections show a gradual increase from 12,980.58 million yuan in 2022 to 15,907.02 million yuan in 2026, with growth rates of -0.69%, 4.09%, 2.10%, 5.30%, and 9.50% respectively [4]. - The company's net profit attributable to the parent company is expected to decline from 1,648.34 million yuan in 2022 to 1,030.79 million yuan in 2024, before recovering to 1,191.46 million yuan in 2026 [4]. - The company’s total assets are projected to grow from 53,388.27 million yuan in 2022 to 58,521.30 million yuan in 2026, indicating a stable financial position [10].