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Every Investment AI Flash, Open Source Securities released a research report on April 30, giving Chao Hongji (002345.SZ) a buy rating. The reasons for the rating mainly include: 1) The operating performance in 2024 showed strong resilience, with high profit growth in 2025Q1 exceeding expectations; 2) The agency business is steadily developing, with rapid growth in the gold category, and the impairment of goodwill for women's bags dragging down performance; 3) Franchise channels are expanding against the trend, based on product upgrades and brand expansion to increase market influence. (Daily Economic News)