连续增长却估值不高,361度是否被错看

财经思享汇
Sep 12

2025年上半年,361度毛利率为41.5%,低于安踏的62.2%与李宁49.4%。作者 | 苏磊编辑 | 管东生在喧嚣的运动品牌资本市场中,361度(1361.HK)的表现显得有些特别。当社保基金重仓押注安踏、北向资金追逐李宁时,361度却显得异常安静。当你自然想到这种安静是否缘于业绩不佳时,361度的营收却四年保持双位数增长。2024年甚至突破百亿。最新半年报显示,2025年上半年营收持续增长...

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