智通财经APP获悉，锅圈(02517)涨超4%，截至发稿，涨4.07%，报10.5港元，成交额7247.94万港元。
中国银河证券发布研报称，锅圈主营“在家餐食”业务，2024年市场空间约1.3万亿元，呈现高速增长态势(2018-2024年复合增速23%)，在人口结构与降本增效等多重因素市场规模有望持续扩容。当前国内“在家餐食”行业已进入第二发展阶段，即下沉市场为主要增量来源，而主打性价比的速冻食品零售业态有望接力外卖成为第二个高速增长的渠道。
华安证券认为，基于2026年短期展望，场景拓展+下沉发力将成锅圈有效投资催化。该行指出，2025年起锅圈步入盈利提升加速阶段，对标相似连锁业态头部标的，公司盈利弹性显著。未来供应链降本、引流模式成熟、规模效应释放三大盈利提升路径清晰，远期净利率天花板有望冲击10%，其中供应链提效对应远期3-5pct优化空间，引流模式成熟，规模效应释放对应4-6pct优化空间。
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