思摩尔国际自有品牌业务增速亮眼,看好HNB业务发展潜力(简体版)

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一、公司业绩表现与短期压力思摩尔国际(6969)2024年全年实现收入118.0亿元,同比增长5.3%,主要得益于自有品牌及封闭式产品业务的增长。然而,毛利率同比下降1.3个百分点至37.4%,税后利润下降20.8%至13.0亿元,主要受毛利率下滑和销售费用显著上升的影响。2025年第一季度税后利润同比大幅下降43.4%,主要由于行政、销售及研发开支增加以及税率变化。二、一次性业务承压与自有品牌...

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