CICC: Maintains SUPOR "Outperform Industry" rating, target price of 60 yuan

CICC's research report points out that SUPOR's net profit attributable to the parent company in 2024 is expected to be 2.24 billion yuan, a year-on-year increase of 2.97%; the performance is in line with the previously disclosed performance forecast, and the company's performance is better than the industry amid weak domestic demand. Looking ahead to 2025, the company expects a 5% increase in order sales scale and anticipates continued stable performance. In the long term, there is still room for SEB order transfer, which is expected to further drive the company's export revenue growth. In 2025, new categories of small household appliances such as rice cookers, microwave ovens, and water purifiers will be added to the national subsidy level, and the company's core advantage categories are involved, so we expect the company's domestic sales business to improve. Maintain "outperform the industry" rating and target price of 60.0 yuan