公司事件点评报告：发布员工持股计划草案，考核目标彰显信心

Investment Rating - The report maintains a "Buy" investment rating for the company [10] Core Views - The company is viewed positively as a leader in the sweet milk sector, with expectations for brand rejuvenation, increased market share through breakfast channel recruitment, and national market expansion contributing to long-term growth [10] - The earnings per share (EPS) forecasts for 2023-2025 have been slightly adjusted to 0.61, 0.72, and 0.85 yuan respectively, with the current stock price corresponding to price-to-earnings (PE) ratios of 16, 14, and 12 times [10] Summary by Sections Market Performance - The company's total market capitalization is 39 billion yuan, with a current stock price of 9.82 yuan and a 52-week price range of 9.82-28.54 yuan [2][5] Employee Stock Ownership Plan - The company has announced an employee stock ownership plan with a total holding scale not exceeding 8.5 million shares, accounting for 2.15% of the total share capital, and a total investment not exceeding 63.75 million yuan at a purchase price of 7.50 yuan per share [28] - The plan includes high growth targets, with the first unlock period requiring a revenue growth rate of no less than 18% for 2024 based on 2023 revenue [27] Financial Forecasts - The company’s projected main revenue for 2023 is 1,420 million yuan, with a growth rate of 1.2%, and is expected to reach 1,677 million yuan in 2024, reflecting an 18.1% growth rate [30] - The net profit attributable to shareholders is forecasted to be 239 million yuan in 2023, with an 8.1% growth rate, and is expected to grow to 284 million yuan in 2024, representing an 18.7% growth rate [30] - The diluted EPS is projected to be 0.61 yuan in 2023 and 0.72 yuan in 2024, with corresponding PE ratios of 16.2 and 13.7 respectively [30]