Shanghai Jahwa(SH:600315) Soochow Securities·2025-10-28 06:52Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company reported a revenue increase of 28.3% year-on-year for Q3 2025, with significant improvements in profitability due to strategic adjustments [1] - The beauty and personal care segments showed high growth, with online sales increasing by 173.3% year-on-year in Q3 2025 [1] - The gross profit margin improved significantly, with a year-on-year increase of 7.0 percentage points in Q3 2025 [1] - The company has successfully launched new products that have performed well in the market, contributing to its revenue growth [1] - The earnings forecast has been revised upwards for 2025-2027, reflecting the company's strong performance and effective reforms [1] Financial Summary - Total revenue for 2023 is projected at 6,598 million yuan, with a forecasted increase to 7,688 million yuan by 2027 [1][8] - The net profit attributable to shareholders is expected to recover from a loss of 833.09 million yuan in 2024 to a profit of 603.20 million yuan by 2027 [1][8] - The latest diluted EPS is projected to improve from -1.24 yuan in 2024 to 0.90 yuan in 2027 [1][8] - The company’s P/E ratio is expected to decrease from 44.62 in 2025 to 30.49 in 2027, indicating a potential increase in valuation [1][8]