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研報掘金丨國金證券:今世緣業績符合預期,淡雅、V系表現亮眼
國金證券研報指出,今世緣(603369.SH)上半年業績符合預期,淡雅、V系表現亮眼,蘇中、蘇南高增。其中V3上半年在低基數、高渠道利潤、600元價格帶培育成熟的背景下實現快速放量,中長期空間更看V系事業部運作能力;4K基本盤穩固並持續輻射到更多價格帶、突破蘇南、蘇中等更多區域;6K已開始在全國試點。當前庫存水平3個月左右,主力大單品價格穩定、核心市場週轉速度較快。公司政商務團購資源紮實,內部組織效能邊際改善,勢能持續向上,全年百億壓力不大。維持“買入”評級。
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