Goldman Sachs | Robam Appliances (002508.SZ) 2Q26 Review: Soft Results, Awaiting 2H26-27E Sequential Improvement; Dividend Offers Downside Protection; Buy
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Abstract
Goldman Sachs' 2Q26 results review of Robam Appliances (002508.SZ) characterizes the quarter as soft, maintaining the Buy rating while awaiting sequential improvement from 2H26 through 2027E, with the dividend providing downside protection for the shares. Incorporating the latest results, Goldman cut its 2026E-2028E EPS forecasts by 7%-14%; the accompanying exhibits present the new versus old estimates in RMB millions alongside a table of the company's key financial data. The summarized content is limited to these two exhibits—the forecast revision comparison and the key financials table—and provides no further quantitative detail such as revenue, margin or profit levels, no target price, valuation multiple or rating rationale beyond what is stated in the title, and no enumeration of specific risks. The investment thrust is trajectory-focused: weak near-term results, an anticipated quarter-on-quarter recovery from 2H26 into 2027E, and dividend support for the shares while fundamentals mend. The review is dated August 28, 2026.
Key exhibits
Exhibit 1
Exhibit 2
