老铺黄金:品牌势能驱动线上线下高速增长 海内外高端渠道持续扩张

申万宏源研究
Jul 28, 2025

投资要点:公司发布25H1 业绩预告,业绩符合预期。25H1 公司实现销售业绩 138-143 亿元,同比增长240%-252%,收入 120-125 亿元,同比增长241%-255%,净利润 22.3-22.8 亿元,同比增长279%-288%,经调整净利润(不考虑以股份为基础的付款报酬影响) 23-23.6亿元,同比增长282%-292%。品牌影响力持续扩大,线上线下高速增长。公司密集加码一线...

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