Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a positive outlook for its stock performance in the near term [6]. Core Insights - The company is expanding its presence in the medical aesthetics sector, with a focus on integrating cosmetic and medical products. Recent approvals for differentiated injection products highlight the company's strategic foresight in selecting investment targets [2][6]. - The main brand, Winona, has shown improvement in its performance, particularly during the 2025 Double Eleven shopping festival, where it ranked 8th in the beauty category on Tmall, reflecting a slight increase from the previous year [2]. - The company has made significant investments in various medical aesthetic ventures, including a recent investment in Yizheng Biotechnology and ongoing collaborations with Weimai Medical to explore innovative perioperative skin care solutions [2]. Financial Summary - The company’s market capitalization is approximately 19.87 billion yuan, with a circulating market value of the same amount. The stock has seen a 52-week high of 50.85 yuan and a low of 39.34 yuan, with a price-to-earnings (P/E) ratio ranging from 32.78 to 42.38 [5]. - Profit forecasts indicate a net profit attributable to the parent company of 5.3 billion yuan in 2025, with expected growth rates of 6.3%, 24.7%, and 15.5% for the years 2025, 2026, and 2027 respectively [6][7].
贝泰妮（300957）动态点评 主品牌表现逐步改善，持续延伸医美领域布局，关注经营向好趋势