According to reports, DFZQ has reaffirmed its "Buy" rating for BOSIDENG (03998), setting a target price of HKD 6.31. Recent grassroots tracking indicates that significant cooling in the main market of Eastern China has positively impacted sales in the Shanghai area. Furthermore, the northern markets, particularly in Northeast China, are expected to gradually enter a brand harvesting phase, supported by the favorable foundation established with last year’s launch of the Erbin series. The company typically sees peak sales beginning in October and continuing until before the Spring Festival. This year, the Spring Festival falls on February 17, 2026, which is 19 days later than last year's date of January 29, effectively extending the company’s sales peak period. The firm believes this will have a positive impact on the company’s FY2026 financial year.

Currently, the Double Eleven shopping festival is in full swing, and the recent nationwide drop in temperatures is beneficial for winter apparel sales. Preliminary data from various platforms shows that the company’s leading brand is off to a strong start this Double Eleven. Additionally, the company has recently announced the appointment of internationally renowned designer Kim Jones, formerly of Louis Vuitton and Dior menswear, as the creative director for the newly established AREAL high-end urban line. The AREAL series targets the high-end business fashion sector, aiming to create an "artistic business wardrobe for multidimensional scenarios and multiple identities."

The firm believes that although the sales proportion of the high-end product line is not expected to be significant in the future, it will positively enhance the main brand's momentum and international influence. It notes that "steady and sustainable growth + high dividend expectations" is one of the main attractions for investors. From FY2021 to FY2025, the company's revenue and profit have grown at compound annual growth rates of 17.66% and 19.73%, respectively, clearly demonstrating the company's operational resilience amid the pandemic and economic fluctuations. The firm expects the company's revenue to maintain low double-digit compound growth in the next three years, with profit growth likely to slightly exceed revenue growth. Given the current temperatures and the extended sales peak, there is a possibility that FY2026 financial performance could exceed expectations. Moreover, historically, the company has maintained a high dividend payout ratio (averaging around 78% since its listing), and the firm expects this to continue, further increasing the company's investment appeal.