Group 1 - The company has adjusted its net profit forecasts for 2025-2027, lowering them to $1.4 billion, $1.6 billion, and $2.2 billion respectively, with year-on-year growth rates of 22.9%, 18.7%, and 35.3% [1] - The company's revenue for H1 2025 was $910 million, representing a year-on-year increase of 11.9%, driven by a 22.8% increase in OPE, while electric tools saw a decline of 2.5% [1][2] - The company expects a conservative revenue guidance for H2 2025 due to high base effects from H2 2024 and cautious customer orders amid macro uncertainties, but net profit may remain resilient due to stable gross margins and strict cost control [2] Group 2 - The adjusted operating net profit for H1 2025 was $750 million, reflecting a year-on-year increase of 21.3%, benefiting from a 0.4 percentage point increase in gross margin to 33.3% [2] - By the end of 2025, the company plans to meet 60% of U.S. market demand through existing leased facilities, with expectations to cover 80-90% by the end of 2026 through new production areas and self-built factories [2] - The company has made significant progress with ACE Hardware, achieving over 90% store penetration for the EGO brand, and online sales growth continues to outpace other channels [2]

机械设备/通用设备 泉峰控股（02285.HK） 2025 年 09 月 01 日 投资评级：买入（维持） 数据来源：聚源 -60% -30% 0% 30% 60% 2024-08 2024-12 2025-04 泉峰控股 恒生指数 相关研究报告 《2025H1 彰显韧性提振预期，产能外 迁利于业绩释放—港股公司信息更新 报告》-2025.7.24 《短期盈利或承压，产能外迁后利润 有望显著释放—港股公司信息更新报 告》-2025.3.28 《品牌及产品竞争力稳固，加速产能 迁移或能缓解担忧—港股公司信息更 新报告》-2024.8.29 短期压力或随顺周期缓释，越南产能或提升确定性 | 日期 | 2025/8/29 | | --- | --- | | 当前股价(港元) | 22.440 | | 一年最高最低(港元) | 24.800/10.700 | | 总市值(亿港元) | 114.68 | | 流通市值(亿港元) | 114.68 | | 总股本(亿股) | 5.11 | | 流通港股(亿股) | 5.11 | | 近 3 个月换手率(%) | 33.8 | 股价走势图 ——港股公司信息更新报告 | 张可 ...