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研報掘金丨德邦證券:迎駕貢酒上半年增長勢頭良好,維持“增持”評級
格隆匯 08-21 14:46
德邦證券20日研報指出,中高檔產品帶動毛利率大幅提升,迎駕貢酒(603198.SH)Q2業績超市場預期。第二季度毛利率同比提升7.41pct 至70.56%,預計與洞藏放量下產品結構提升和22Q2疫情影響基數較低有關。公司分版塊深耕,更加嚴格優選大商優商做大做強,報吿期內省內/省外經銷商數量分別淨增加35/21個。在安徽整體競爭價位上移的背景下,迎駕大眾價位全省化仍有較大空間。下半年大眾消費價位仍然有望保持高景氣。公司上半年增長勢頭良好,略上調盈利預測,維持“增持”評級。
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