古茗(1364.HK):全品类货架型品牌 “结硬寨”践行长期主义

光大证券
04 Jun

平价现制茶饮龙头,多重优势领跑行业。古茗深耕现制茶饮十余年,从浙江走向全国。截至24 年底,公司在全国17 个省份覆盖超过200 个城市,共有9914家门店,主要分布于二线、三线及更低线城市。古茗是中国最大的大众现制茶饮店品牌,亦是全价格带下中国第二大现制茶饮店品牌。2023 年古茗平均季度复购率高达53%,门店经营利润率约20%,均领先行业。行业下沉市场空间大,供应链打造核心竞争力。根据灼识咨询...

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