预测25 年核心盈利同比增长64%我们预计公司25 年收入+46%，经调核心净利润（剔除公允价值及预扣税影响）+64%至25.2 亿元，对应2H25 收入+50%，经调核心净利润+78%，好于市场预期，主要因为开店及毛利率提升幅度好于预期。关注要点2H25 同店维持亮眼增长，外卖补贴下加盟商实收到手率可控。受益于外卖平台补贴、咖啡贡献提升、新品甜品碗等，我们预计公司2H25 同店表现高增，4Q25...
Source Link预测25 年核心盈利同比增长64%我们预计公司25 年收入+46%，经调核心净利润（剔除公允价值及预扣税影响）+64%至25.2 亿元，对应2H25 收入+50%，经调核心净利润+78%，好于市场预期，主要因为开店及毛利率提升幅度好于预期。关注要点2H25 同店维持亮眼增长，外卖补贴下加盟商实收到手率可控。受益于外卖平台补贴、咖啡贡献提升、新品甜品碗等，我们预计公司2H25 同店表现高增，4Q25...
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