YanKershop(002847) 东吴证券·2025-04-23 07:09Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company demonstrates strong growth potential with highlights in both products and channels. The revenue for 2024 is projected to be 5.304 billion yuan, representing a year-on-year increase of 28.89%. The net profit attributable to the parent company is expected to reach 639.95 million yuan, a growth of 26.53% year-on-year [1][7] - The company has shown robust performance with significant growth in its key product lines, particularly in konjac products and egg snacks, which achieved revenue growth of 76% and 82% respectively. The overseas business is also starting to show promising results with revenue of 60 million yuan in 2024 [7] - The company is expected to prioritize revenue growth in the near term, with a focus on high-margin product categories and channels. The net profit for 2025 is projected to be 827.85 million yuan, reflecting a year-on-year increase of 29.36% [1][7] Financial Projections - Total revenue is forecasted to grow from 5.304 billion yuan in 2024 to 9.204 billion yuan by 2027, with a compound annual growth rate (CAGR) of approximately 16.37% [1][8] - The net profit attributable to the parent company is expected to increase from 639.95 million yuan in 2024 to 1.243 billion yuan in 2027, with a CAGR of about 20.77% [1][8] - The earnings per share (EPS) is projected to rise from 2.35 yuan in 2024 to 4.56 yuan in 2027, indicating a strong upward trend in profitability [1][8]