Q4 电商及儿童改善趋势明显,2025 年订货趋势良好,维持“买入”评级2024Q4 361°成人线下流水录得约10%增长、361°童装线下流水约10-15%增长、电商流水录得30-35%以上增长。元旦期间线下流水延续低双增长,我们维持盈利预测,预计2024-2026 年净利润为11.4/13.5/15.8 亿元,当前股价对应PE为6.7/5.6/4.8 倍,公司产品端构建跑步、篮球等专业产品矩阵...
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