HEILAN HOME(SH:600398) Tianfeng Securities·2025-09-30 02:23Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6]. Core Views - The company reported a revenue of 11.6 billion and a net profit of 1.6 billion for the first half of 2025, with the main brand contributing 8.4 billion to the revenue [1]. - The brand has been recognized for its influence, being selected as a leading brand in the "Brand Strong Country Project" for three consecutive years and has engaged in various marketing initiatives [1]. - The company has optimized its product lines focusing on "technology functionality, fashion IP, and quality environmental protection," launching several new product series in the first half of 2025 [2]. - The company is enhancing its channel operations by optimizing existing stores and expanding into new markets, including collaborations with major platforms like JD.com [3]. - The profit forecast for 2025-2027 has been slightly adjusted, with expected revenues of 22.4 billion, 24.6 billion, and 26.8 billion respectively, and net profits of 2.5 billion, 2.7 billion, and 3.0 billion respectively [4]. Financial Data Summary - The company’s total market capitalization is approximately 30.74 billion, with a total share capital of 4,802.77 million shares [6]. - The earnings per share (EPS) for 2025 is projected to be 0.51, with a price-to-earnings (P/E) ratio of 12.47 [10]. - The company’s revenue is expected to grow at a rate of 7.02% in 2025, with a net profit margin of approximately 10.99% [12].