Investment Rating - The report maintains an "Outperform" rating for the company [1] Core Insights - The recent signing of marathon runner Jiaorenjia as a brand ambassador is expected to enhance brand recognition and consumer trust, potentially driving sales [7] - The marathon industry in China is experiencing significant growth, with an increase in the number of events and participants, supported by favorable policies [7] - The company is actively developing a comprehensive product matrix to cater to runners' needs, including energy supplements and recovery products [7] - The company is building a running ecosystem to foster customer loyalty and encourage repeat purchases through sponsorship of events and partnerships with running groups [7] - The financial forecasts for the company remain stable, with projected net profits of 0.89 billion, 1.15 billion, and 1.56 billion for 2024, 2025, and 2026 respectively, indicating strong growth potential [7] Financial Data and Profit Forecast - Total revenue is projected to grow from 843 million in 2023 to 1,873 million by 2026, with a compound annual growth rate (CAGR) of approximately 33.2% [3] - The net profit attributable to the parent company is expected to increase from 88 million in 2023 to 156 million in 2026, reflecting a CAGR of around 35.1% [3] - Earnings per share (EPS) is forecasted to rise from 0.71 in 2023 to 1.25 in 2026 [3] Market Data - As of March 26, 2025, the closing price of the stock is 19.09, with a price-to-earnings (PE) ratio of 27 [4] - The company has a market capitalization of 2,163 million [4] - The stock has a dividend yield of 1.05% based on the most recent dividend announcement [4]
康比特（833429）：马拉松赛事蓬勃开展，公司新晋跑步代言人，助推品牌向上