Core Viewpoint - Dongwu Securities issued a report on August 18, giving Runben Co., Ltd. (603193.SH) a "buy" rating based on its performance and growth potential [2] Financial Performance - In the first half of 2025, the company achieved revenue of 895 million yuan, representing a year-on-year increase of 20.3% [2] - The net profit attributable to shareholders reached 188 million yuan, reflecting a year-on-year growth of 4.2% [2] Market Dynamics - The company has balanced growth in both online and offline channels [2] - The baby care product category continues to maintain high growth, although the growth rate of mosquito repellent products was slightly lower due to weather conditions [2] Cost and Profitability - There has been some fluctuation in gross margin, with increases in financial expense ratio and selling expense ratio [2]