Dongguan Securities: YIYI's future development is promising, maintaining a "Buy" rating

Dongguan Securities research report points out that YIYI is the leader in disposable hygiene products for pets in China. Currently, the company's main business is the research, production, and sales of disposable hygiene care products and non-woven fabrics, among which disposable hygiene care products include pet hygiene care products and personal hygiene care products. Products are exported to nearly 40 countries and regions, including the United States, Canada, Japan, South Korea, the United Kingdom, and Italy. It is expected that the company's EPS for 2025 and 2026 will be 1.34 yuan and 1.60 yuan, respectively, corresponding to PE ratios of 19 times and 16 times. The domestic and international pet market is still expected to maintain rapid growth, and high-quality domestic enterprises are expected to benefit. The company is the leader in disposable hygiene products for pets in China and has accumulated certain customer resource advantages in overseas markets. In the future, it will increase its efforts to expand both domestic and international markets and has certain scale advantages, making future development promising. Maintain an "overweight" rating for the company