YanKershop(002847) 华鑫证券·2024-07-12 03:00Investment Rating - The report maintains a "Buy" investment rating for the company [4]. Core Views - The company is expected to achieve a revenue of 24.00-25.00 billion yuan in H1 2024, representing a year-on-year growth of 27%-32%. The net profit attributable to shareholders is projected to be 3.10-3.30 billion yuan, with a growth of 26%-34% [4]. - The company is focusing on product innovation and optimizing its product matrix, which includes the introduction of new products like "Egg Emperor" quail eggs and "Big Devil" sesame-flavored products. This strategy aims to enhance brand strength and expand market share [5]. - The company plans to distribute a cash dividend of 6 yuan for every 10 shares and intends to repurchase shares at a price not exceeding 68 yuan per share, reflecting confidence in its growth prospects [5]. Financial Summary - The company forecasts its revenue for Q2 2024 to be between 11.77-12.77 billion yuan, with a year-on-year increase of 18%-28%. The net profit for the same period is expected to be 1.50-1.70 billion yuan, showing a growth of 12%-27% [4]. - The earnings per share (EPS) for 2024-2026 are projected to be 2.62, 3.58, and 4.73 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 16, 12, and 9 times [5]. - The company’s total market value is reported at 112 billion yuan, with a circulating share capital of 246 million shares [2].