EASYHOME(000785) 天风证券·2025-03-19 16:00Investment 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 earnings per share (EPS) forecasts for 2024, 2025, and 2026 are projected at 0.17, 0.18, and 0.19 yuan respectively, with corresponding price-to-earnings (PE) ratios of 28.76, 27.05, and 24.88 [3]. Financial Data and Valuation - The company's revenue is projected to grow from 12,980.58 million yuan in 2022 to 15,907.02 million yuan in 2026, with a compound annual growth rate (CAGR) of approximately 5.30% from 2024 to 2025 and 9.50% from 2025 to 2026 [4]. - The net profit attributable to the parent company is expected to decline from 1,648.34 million yuan in 2022 to 1,191.46 million yuan in 2026, with a notable recovery projected in 2025 [4]. - The company’s total assets are estimated to increase from 53,388.27 million yuan in 2022 to 58,521.30 million yuan in 2026, indicating a steady growth trajectory [10].