NANSHAN FASHION(SZ:300918) Tianfeng Securities·2025-10-08 14:59Investment Rating - The investment rating for the company is "Buy" with a target price not specified [5]. Core Insights - The company has launched an employee stock ownership plan aiming to raise up to 62.55 million yuan, with a share price of 11.65 yuan per share, and a total of 5.3691 million shares allocated, representing 1.06% of the total share capital [1][2]. - The employee stock ownership plan includes performance assessment metrics tied to revenue growth, targeting a minimum of 15% growth in 2025 and either 45% revenue growth or 20% net profit growth in 2026, based on 2024 figures [2]. - The company has officially released a new generation of tactile smart gloves, developed in collaboration with Wuhan University and Hand Intelligence Innovation, integrating multiple innovative technologies for enhanced interaction in various applications [4]. - The smart gloves are designed with advanced materials and human-like features, enabling low-latency data transmission and high precision in hand movements, with applications in remote operation of industrial robots, skill training for robots, and virtual assembly tasks [4][9]. Financial Data Summary - The company has a total share capital of 506.13 million shares, with a market capitalization of approximately 11.10 billion yuan [6]. - The projected revenue for 2025 is 1.66 billion yuan, with a growth rate of 2.87% compared to 2024, and a net profit of 200.64 million yuan, reflecting a growth of 5.13% [12]. - The company maintains a debt-to-asset ratio of 33.55% and a net profit margin of 12.66% for 2023 [6][14].