研報掘金丨中銀證券:錦泓集團未來增長可期,維持買入評級
中銀證券16日研報指出,錦泓集團(603518.SH)上半年營收同增14.33%至21.11億元,歸母淨利潤同增302.56%至1.43億元。公司雙品牌全渠道協同發展,負債優化釋放利潤彈性,未來增長可期,維持買入評級。公司多品牌全渠道發展良好,TW品牌立足IP優勢,線上精細化運營,線下加盟拓店望拉動增長;VG品牌重視自主研發,打造產品獨特性,內生增長好,單店質量較高,線上線下渠道拓展空間較大。公司通過債務重組、主業經營及資本市場融資等方式降低資產負債率,提升盈利能力。未來隨公司負債壓力減輕、財務結構優化,利潤彈性得到逐步釋放,公司中長期營業收入有望企穩增長。
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