GLONGHUI, September 28 | Zheshang Securities released a research report stating that it maintains Techai International's “increase in holdings” rating and is expected to achieve net profit of 1900/5200/70 million US dollars in 2023-25, a growth rate of 169%/35% in 2024-2025, and the company's EPS of 0.03/0.08/0.11 US dollars in 2023-2025, respectively. As a leading overseas Chinese food brand, the company has broad prospects with the recovery of overseas consumption and is empowered by brand advantages and newly established supply chains. In terms of turnover rate, along with the recovery of overseas economies, the turnover rate of each region has increased year-on-year, mainly based on the gradual demonstration of the company's proper localization strategy, scale advantage, and refined management ability. The difference in the extent of increase mainly depends on the extent of economic recovery in each region. If the economies of various regions of the world continue to improve dramatically in the future, the company turnover rate is expected to continue to rise sharply. In terms of opening stores, there is plenty of space, and they are optimistic that the recovery in overseas economies will accelerate profit elasticity after opening stores. Since the beginning of the year, the company has opened 4 new stores, located in the United Arab Emirates/Singapore/Thailand/Australia. In a situation where the economic situation in the major overseas regions is weak, the company has completed an orderly expansion of stores and still maintains good positive profits. The bank believes that this is a reflection of the company's excellent operation and management capabilities. After the bank is optimistic about the general recovery of the overseas economy, the company's opening of stores accelerated and further unleashed profit flexibility.