Focus Media(SZ:002027) Soochow Securities·2025-09-02 12:32Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company demonstrates steady growth in performance, with the "Touch" feature expected to generate additional revenue [8] - The company's revenue and profit forecasts for 2025-2027 are projected to be 0.39, 0.49, and 0.54 CNY per share respectively, with corresponding P/E ratios of 22.25, 17.84, and 16.17 [1][8] Financial Performance Summary - Total revenue for 2023 is projected at 11,904 million CNY, with a year-on-year growth of 26.30% [1] - Net profit attributable to shareholders for 2023 is forecasted at 4,827 million CNY, reflecting a year-on-year increase of 73.02% [1] - The company’s operating income for Q2 2025 is reported at 32.55 billion CNY, with a year-on-year growth of 0.52% [8] - The company maintains a high dividend strategy, distributing 1.0 CNY per 10 shares, totaling 14.44 billion CNY [8] Business Development Summary - The company has expanded its elevator media points to 1.287 million, a 5.5% increase from December 2024 [8] - The internet advertising revenue for H1 2025 reached 9.62 billion CNY, a significant year-on-year increase of 88.82%, now accounting for 15.73% of total revenue [8] - The "Touch" feature, developed in collaboration with Alipay, aims to enhance user interaction and streamline the advertising conversion process [8]