Ping An Securities issued a research report stating that Bosideng (03998) will appear at the "New Life of Everything - Chinese Intangible Heritage and Contemporary Design Exhibition" in Paris, France from July 6 to July 20. As the world's leading down jacket brand, Bosideng will showcase the unique charm of the perfect combination of Chinese brands and intangible cultural heritage to global consumers, presenting a colorful Eastern pioneer driving school.
During the exhibition, Bosideng will host a stylish show with a unique Chinese style and charm. Through this fashion show, Bosideng will showcase the use of intangible heritage techniques such as woven satin to incorporate ancient totems and auspicious buckles into down jacket designs, demonstrating China's traditional cultural soft power and Bosideng's ingenuity. The bank believes that this exhibition is not only a comprehensive display of the company's own brand strength, but also the dissemination of traditional Chinese culture. Let the world see Chinese brands and designs and demonstrate cultural charm.
The bank continued to point out that the company focuses on its main business of Bosideng down jackets as the first growth curve, Snow Flying down jacket brand as the second growth curve, and functional technology clothing as the new growth curve, achieving high growth in performance once again by continually focusing on the main business of down jackets. The bank is bullish on the sustained growth of the company's main business of down jackets and maintains a "strongly recommended" rating. The bank maintains its original profit forecast and expects the company's net income attributable to the parent company to be 3.47 billion yuan, 3.9 billion yuan and 4.33 billion yuan in the fiscal years 2025-2027. The closing price on July 8, 2024 corresponds to a 2025 fiscal year PE of 11.6 times, and the "strongly recommended" rating is maintained.