Core Viewpoint - Meili Tianyuan Medical Health is expected to achieve significant revenue and profit growth in the first half of 2025, driven by both internal and external strategies [1][2] Group 1: Performance Forecast - The company anticipates revenue of no less than 1.45 billion yuan, representing a growth rate of at least 27% [1] - Adjusted net profit is projected to be no less than 175 million yuan, with a growth rate of at least 33% [1] - Net profit is expected to be no less than 170 million yuan, with a growth rate of at least 35% [1] Group 2: Internal and External Growth Strategies - Internal growth is supported by enhanced business models and operational efficiency, leveraging a unique commercial loop based on beauty services [1] - The company has invested in digital systems to improve standardized operational efficiency, facilitating rapid business model replication [1] - External growth is driven by a commitment to mergers and acquisitions to expand scale and integrate quality resources in the beauty industry [1] Group 3: Shareholder Confidence and Market Position - The company has optimized its shareholding structure, with early shareholder CPE reducing its stake by approximately 51.33 million shares (21.77% of total shares) [2] - A commitment to a dividend payout ratio of no less than 50% of net profit from 2025 to 2027 is expected to enhance shareholder returns [2] - The establishment of an equity incentive plan aims to align management interests with company growth, improving governance and development momentum [2] Group 4: Revenue and Profit Projections - Revenue projections for 2025-2027 are estimated at 3.064 billion, 3.344 billion, and 3.645 billion yuan, respectively [2] - Corresponding net profits for the same period are projected at 320 million, 362 million, and 413 million yuan [2] - The expected price-to-earnings ratios are 20, 18, and 16 times for the years 2025, 2026, and 2027, respectively [2]