思摩尔国际主业稳步增长,HNB有望加速放量

信达证券
Jul 17, 2025

一、公司业绩表现与预期思摩尔国际发布了2025年上半年盈利预告,预计25H1收入为60.13亿元(同比+18.3%),期内全面收益总额为4.51-5.51亿元(同比-37.8%-23.9%)。单Q2期内全面收益总额为2.43-3.44亿元(同比-41.4%-17.2%)。尽管收入保持双位数增长,但利润承压主要源于股份支付费用增加及销售和管理费用率提升。整体盈利能力环比保持平稳。二、雾化业务的...

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