研報掘金丨長江證券:予珀萊雅“買入”評級,Q1利潤率改善
長江證券研報指出,珀萊雅(603605.SH)2024年歸母淨利潤15.5億元,同比增長30%;2025Q1實現歸母淨利潤3.9億元,同比增長28.9%。認為2025Q1的利潤率改善,彰顯公司當前品牌議價力提升後,價格帶穩定和品牌議價力提升後的較強規模效應,同時後續收入端,主品牌的核心繫列升級(4月以來雙抗升級美白特證版),以及子品牌彩棠、OR、原色波塔的持續良好增長,亦看點十足,有望貢獻後續增量空間。綜上,預計公司2025-2027年EPS 分別為4.63、5.40、6.02元/股,給予“買入”評級。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.