CMPO(SZ:001914) Shenwan Hongyuan Securities·2025-10-30 05:48Investment Rating - The report maintains a "Buy" rating for the company [2][7]. Core Insights - The company's performance in Q1-Q3 2025 showed a revenue of 13.94 billion yuan, a year-on-year increase of 14.7%, and a net profit attributable to shareholders of 686 million yuan, up 10.7%, aligning with market expectations [7]. - The company has demonstrated confidence in its future growth by repurchasing shares, with a total of 1.426 million shares repurchased, accounting for 0.134% of total shares, at a total cost of 15.86 million yuan [7]. - The management area as of Q3 2025 was 367 million square meters, a decrease of 8.5% year-on-year, while the new annual contract amount for property management increased by 3.9% [7]. - The commercial management area was 3.97 million square meters, down 1.2% year-on-year, but the commercial operation revenue increased by 30.7% [7]. - The company is expected to continue leading the property management industry due to its strong resource endowment and market expansion capabilities [7]. Financial Data and Profit Forecast - Total revenue is projected to reach 19.424 billion yuan in 2025, with a year-on-year growth rate of 13.1% [6]. - The net profit attributable to shareholders is forecasted to be 943 million yuan in 2025, reflecting a growth rate of 12.2% [6]. - The earnings per share (EPS) is expected to be 0.89 yuan in 2025, with a projected price-to-earnings (PE) ratio of 13 [6][7].