According to the Zhixun Caijing app, Tianfeng Securities released a research report stating that it maintains a "buy" rating on Yue Yuen Ind (00551), based on the Q1 24 performance and significant improvement in Q2 manufacturing business compared to the previous quarter. It raised its profit forecast, with FY24-26 revenue expected to be $8.645 billion, $9.645 billion, and $10.935 billion, respectively; net profit attributable to shareholders is expected to be $0.38 billion, $0.42 billion, and $0.46 billion, respectively (originally $0.3 billion, $0.35 billion, and $0.4 billion). The company has long-term partnerships with international brands such as Nike, Adidas, Asics, New Balance, and Salomon.

The report states that the group's monthly revenue was $0.65 billion, down 4.3% year-on-year; accumulative revenue was $4 billion, down 3.4% year-on-year. Among them, the manufacturing business revenue increased by 2.9% month-on-month and 2.4% year-on-year. Baosheng's monthly revenue decreased by 14% year-on-year, and the accumulative revenue decreased by 8.9% year-on-year. The group remains optimistic about the outlook for the manufacturing business. As the industry gradually recovers and orders become more normal, the bank expects to continue to drive revenue growth, improve production efficiency, and maintain a stable profit-making ability.

In addition, following a series of precise investments in intelligent automation, the company will continue to implement its long-term digital transformation strategy, using digital lean management to achieve excellent operations. It will further integrate the manufacturing management system into OCP to enhance the existing ecological intelligence and intelligent manufacturing strategies. As the core of its OCP, the SAPERP system will focus more on application and automation upgrades, strengthen the group's process reengineering capabilities, improve production efficiency, and create investment returns.