Eastroc Beverage(SH:605499) Huachuang Securities·2025-07-14 03:44Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price of 304 yuan [2][8]. Core Views - The company is expected to achieve a revenue of 10.63 to 10.84 billion yuan for H1 2025, representing a year-on-year growth of 35.01% to 37.68%. The net profit attributable to the parent company is projected to be between 2.31 to 2.45 billion yuan, reflecting a growth of 33.48% to 41.57% [2][8]. - In Q2 2025, the company anticipates revenue of 5.782 to 5.992 billion yuan, with a year-on-year increase of 31.67% to 36.46%. The net profit is expected to be between 1.33 to 1.47 billion yuan, showing a growth of 24.68% to 37.81% [2][8]. - The company is focusing on increasing marketing expenditures during the peak season, which is expected to drive sales growth and enhance the performance of new products [2][8]. Financial Summary - For the fiscal years 2024A to 2027E, the total revenue is projected to grow from 15.839 billion yuan in 2024 to 28.962 billion yuan in 2027, with year-on-year growth rates of 40.6%, 30.9%, 20.9%, and 15.5% respectively [4]. - The net profit attributable to the parent company is forecasted to increase from 3.326 billion yuan in 2024 to 6.617 billion yuan in 2027, with growth rates of 63.1%, 35.8%, 24.2%, and 17.9% respectively [4]. - The earnings per share (EPS) is expected to rise from 6.40 yuan in 2024 to 12.72 yuan in 2027, with corresponding price-to-earnings (P/E) ratios decreasing from 45 to 23 over the same period [4][8].