Guangzhou Restaurant(SH:603043) Shenwan Hongyuan Securities·2025-08-29 09:07Investment Rating - The report maintains a "Buy" rating for the company, indicating a strong performance relative to the market over the next six months [5]. Core Insights - The company has shown robust growth in its out-of-province markets, with a focus on enhancing brand marketing efforts. The revenue from out-of-province markets has increased significantly, contributing to overall growth [5]. - The company reported a total revenue of 1.991 billion yuan for the first half of 2025, reflecting a year-on-year growth of 4.16%. However, the net profit attributable to the parent company decreased by 33.11% to 39.1 million yuan during the same period [5]. - The company is actively expanding its product offerings and optimizing its distribution network, which has led to a steady increase in sales from its food and restaurant segments [5]. Financial Data and Profit Forecast - The total revenue forecast for 2025 is 5.695 billion yuan, with an expected year-on-year growth rate of 11.2%. The net profit attributable to the parent company is projected to be 574 million yuan, representing a growth of 16.3% [4][5]. - The company’s gross margin is expected to improve to 33.3% in 2025, up from 31.7% in 2024, indicating better cost management and pricing strategies [4]. - The return on equity (ROE) is projected to be 13.7% in 2025, reflecting an upward trend in profitability [4].