Equity Research Report Focus Technology (002315 CH) 1Q25 NP Jumped YoY, Internal Restructuring Showed Results | Huatai Research | Quarterly Results Review | Rating (Maintain): | BUY | | --- | --- | --- | --- | | 13 May 2025 │ China (Mainland) | Internet Media | Target price (RMB): | 51.77 | Focus Technology posted 1Q25 revenue/attributable net profit (NP)/recurring NP of RMB441/112/109mn (+15.40/+45.94/+49.37% yoy, -2.93/+19.79/+29.0% qoq). Net profit margin improved mainly due to operating leverage. The co ...

Equity Research Report Longda Meat Foodstuff (002726 CH) Turned Around in 2024, Operating Optimization Taking Effect | | | Longda Meat Foodstuff's 2024 revenue/attributable net profit (NP)/recurring NP were RMB10,990/21.62/-58.21mn (-17.49/+101.41/+95.73% yoy), with 4Q24 revenue/attributable NP at RMB2,976/-51.42mn (-7.37/+94.22% yoy, +0.19/-445.39% qoq). For 1Q25, revenue/attributable NP were RMB2.55bn/4mn (+1.0/-86% yoy, -14%/turning positive qoq). Longda implemented cost reduction and operational efficie ...

Equity Research Report Shangfeng Cement (000672 CH) Near-Term Recovery Sustained, Strategic Chains to Retain Growth | Analyst | FANG Yanhe | | --- | --- | | SAC No. S0570517080007 | fangyanhe@htsc.com | | SFC No. BPW811 | +(86) 755 2266 0892 | | Analyst | HUANG Ying | | SAC No. S0570522030002 | huangying018854@htsc.com | SFC No. BSH293 +(86) 21 2897 2228 | Huatai Research | Annual Results Review | Rating (Maintain): | BUY | | --- | --- | --- | --- | | 13 May 2025 │ China (Mainland) | Cement | Target price ( ...