Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Insights - The company reported a revenue increase of 8% and a net profit increase of 10% in the first half of 2025, with revenue reaching 1.835 billion yuan and net profit at 46.74 million yuan [1] - The company is focusing on expanding its direct stores in East China, Central China, and South China, while optimizing its product category structure [2] - The collaboration with Bandai Namco is expected to enhance profit margins, with the company projected to achieve revenues of 3.8 billion yuan in 2025, 4.2 billion yuan in 2026, and 4.7 billion yuan in 2027, reflecting growth rates of 9%, 11%, and 12% respectively [3] Financial Summary - The company is expected to generate revenues of 3.466 billion yuan in 2024, with a growth rate of 4.06%, and net profit of 106.41 million yuan, reflecting a growth rate of 1.61% [4] - The projected earnings per share (EPS) for 2025 is 0.97 yuan, with a price-to-earnings (P/E) ratio of 20.30 [4] - The company’s total market capitalization is approximately 2.69876 billion yuan [6]