The Bank of China Securities Research Report pointed out that Xinfengming's product profit recovered in the first three quarters, and the company's performance increased the same and month-on-month. Net profit due to mother was 2,612 billion yuan in the first three quarters, up 200.65% year on year; net profit to mother in the third quarter was 1,173 billion yuan, up 630.62% year on year and 9.52% month on month. The company's revenue increased year-on-year in the first three quarters and improved month-on-month in the third quarter. The industry's “anti-internal revenue” policy promoted product profit recovery. The company's projects under construction have risen sharply, and the differentiated product layout continues to advance. The company's main product processing profit was fixed, the profit forecast for 2026-2027 was adjusted, and the profit forecast for 2028 was given. The company's EPS is expected to be 1.77 yuan, 2.08 yuan, and 2.37 yuan respectively in 2026-2028, with corresponding price-earnings ratios of 9.1 times, 7.8 times, and 6.9 times, respectively. As the “anti-internal volume” policy continues to advance, the company's product processing profits will recover, and performance will continue to improve, maintaining the “buy” rating.

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