颐海国际:笃行不辍 期待修复

东吴证券
22 May

机制升级,渠道细化:(1)机制:公司进一步完善合伙人考核机制,将增量利润作为关键激励指标,鼓励市场开拓;(2)产品:产品项目制下推新明显加速、且不乏亮点,2024 年上新产品超50 个;(3)渠道与新市场:2024Q3 以来公司对于流通渠道的管理进一步细化、积极下沉,同时发展电商、开拓海外。随着泰国工厂投产,泰国、越南等海外市场收入有望实现高增。2025 年第三方收入有望维持低双位数增长,期待...

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