毛戈平(1318.HK):线上线下高质量快速增长

华泰证券
Mar 28, 2025

2024 年营收38.85 亿元/yoy34.6%,净利润8.81 亿元/yoy33%,经调整净利9.24 亿元/yoy39.2%。25 年以来公司线上数据维持亮眼表现;线下持续进军SKP 等高端商场进一步提升品牌价值。大单品粉膏/鱼子涂抹面膜/黑霜等还处于势能向上阶段,25 年以来品牌陆续推出面膜级身体霜/星空眼影/全新塑颜紧致系列等,有望奠定中长期成长新动能。维持买入评级。彩妆维持快速增长分...

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