Financial StatementsResearch on the Investment Value Evaluation of Baiguooyuan Group Based on
ZHOU Yun Ying
(1.Zhuhai University of Science and Technology, Zhuhai, Guangdong 519040)
[Abstract]: With the upgrading of residents' consumption and the intensified competition in the fruitretail industry, the investment value of chain fruit retail enterprises has increasingly attracted theattention of the capital market. Baoyuan Fruit, as the leading enterprise in China's fruit chain retailindustry, listed on the Hong Kong stock market in 2023. This article aims to reasonably assess itsinvestment value by combining the 2025 annual report data, providing reliable references for investors'decisions and the enterprise's own development. Taking Baoyuan Group (stock code: 02411.HK) asthe research object, using the financial statements of this enterprise from 2021 to 2025 as the core datasource, combined with the current development status of the fruit retail industry, this article adopts themethods of literature research, ratio analysis, relative valuation (P/E ratio method, P/B ratio method,P/S ratio method) and absolute valuation (free cash flow discount method) to conduct a comprehensiveanalysis of Baoyuan's profitability, solvency, operational ability, and development ability, and thenassess its investment value. The core analysis focuses on the data of 2025. Baoyuan achieved arevenue recovery in 2025, with a year-on-year growth of 7.23% in revenue, and its net profit turnedlosses into profits, achieving a net profit of 152 million yuan. Its profitability gradually recovered; itssolvency improved compared to 2024, the short-term liquidity pressure was relieved, and theasset-liability ratio fell within a reasonable range; its operational ability steadily improved, after storeoptimization, the asset turnover efficiency improved, and the inventory management level remained atthe industry-leading level; its development ability gradually recovered and the growth momentumcontinued to strengthen; through valuation models, Baoyuan's current valuation is within a reasonablerange, and the long-term investment value is gradually emerging. The long-term investment value ofBaoyuan depends on the deepening of its all-chain layout, the continuous improvement of its profitlevel, and the increase in industry concentration. The conclusions of this article can providedecision-making references for investors and also offer targeted suggestions for Baoyuan Group tooptimize its management and enhance its investment value.
[Key Words]: Financial statements; Baoyuanju Group; Investment value assessment; Ratio analysis;Valuation model; Financial data for 2025
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