百亚股份：全渠道捷报频传，期待38表现-20250227

Investment Rating - The report maintains a "Buy" rating for the company [4][6][17] Core Views - The company has achieved top rankings on multiple e-commerce platforms, including Tmall and Pinduoduo, which sets a strong foundation for the upcoming marketing campaign [1][2] - The management team is actively engaging with distributors to ensure effective execution of the marketing strategies for the upcoming Women's Day campaign [2] - The company is enhancing brand strength through online and offline collaboration, including hosting live sessions and artistic events to connect with target demographics [3] Financial Projections - The company forecasts a net profit attributable to the parent company of 290 million, 370 million, and 480 million for the years 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 35, 27, and 21 [4][5] - Revenue is projected to grow from 1.61 billion in 2022 to 5.30 billion in 2026, reflecting a compound annual growth rate (CAGR) of approximately 24.61% [5][12] - The EBITDA is expected to increase from 318.54 million in 2022 to 647.84 million in 2026, indicating a strong operational performance [5][12]