Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within six months [9][15]. Core Viewpoints - The company is expected to achieve revenue of 6-6.1 billion with a year-on-year growth of 10-12% in 2023, and a net profit of 400-420 million, reflecting a significant increase of 60-68% [12][13]. - The growth strategy focuses on expanding product categories and channels, particularly in the U.S. market, with stable growth from Amazon and potential from TikTok and offline channels [13]. - The company has launched its first equity incentive plan post-IPO, aiming for a revenue growth target of 20-25% for the next three years, which aligns with the incentive goals [22][23]. Financial Summary - The company's revenue for 2021 was 5,967.38 million, with a projected increase to 6,093.70 million in 2023, representing a growth rate of 11.70% [14]. - The net profit for 2021 was 239.82 million, expected to rise to 409.09 million in 2023, marking a growth rate of 63.56% [14]. - Earnings per share (EPS) are projected to increase from 1.02 in 2023 to 1.51 by 2025, with corresponding price-to-earnings (P/E) ratios decreasing from 24 to 16 [13][14].
发布股权激励计划，收入目标20-25%