天风证券行业研究周报:英美烟草(BAT)发布了2025财年预披露报告 新型烟草下半年收入增速加速至双位数!

天风证券
Dec 21, 2025

本周关注:英美烟草(BAT)发布了2025 财年预披露报告,新型烟草下半年预计收入增速加速至双位数!英美烟草(BAT)发布了2025 财年预披露报告公司预计2025 年财年预计实现营业收入和调整后利润同比增长2%,下半年新型烟草业务收入预计增长加速至双位数,并驱动全年实现中个位数增长,新型烟草业务的贡献度进一步提升,符合公司的“高质量增长”策略。美国市场凭借可燃烟草的持续贡献及Velo Plus ...

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