研報掘金丨浙商證券:中國中免Q3業績符合預期,維持“增持”評級
浙商證券研報指出,中國中免(601888.SH)三季度毛利率繼續修復,歸母淨利潤13.3億元符合預期。三亞鳳凰機場免税店二期於9月開業,中免海南免税面積擴容5000平;三亞國際免税城二期(重點推進重奢品牌引進)靜待開業,將完善重奢佈局,進一步實現免税擴容。市內店渠道方面,政策有望落地,公司積極推進市內店選址、定位、規劃等工作,增量貢獻可期。市內店渠道方面,政策有望落地,公司積極推進市內店考察、選址、定位、規劃等工作,增量貢獻可期。該行預計中國中免23-25年歸母淨利潤分別為65.4、91.2、111.1億元,維持“增持”評級。
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