3Q25 业绩低于我们预期公司Q3 营收同比-9.4%至32.08 亿元，经调整净利润同比-22.3%至5.03 亿元，经调整净利润率同比-2.6ppt 至15.7%。业绩低于我们预期，主因同店收入承压。公司Q3 门店净增300 家至 7,338 家（大中华区门店净增246 家至7,076 家，海外门店净增 54 家至262 家；直营店净开128 家，加盟店净开172 家）。Q3 公司整体GMV ...
Source Link3Q25 业绩低于我们预期公司Q3 营收同比-9.4%至32.08 亿元，经调整净利润同比-22.3%至5.03 亿元，经调整净利润率同比-2.6ppt 至15.7%。业绩低于我们预期，主因同店收入承压。公司Q3 门店净增300 家至 7,338 家（大中华区门店净增246 家至7,076 家，海外门店净增 54 家至262 家；直营店净开128 家，加盟店净开172 家）。Q3 公司整体GMV ...
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