民生证券给予桃李面包推荐评级 2023年年报点评：主业平稳恢复业绩短期承压

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民生证券03月21日发布研报称，给予桃李面包（603866.SH，最新价：6.81元）推荐评级。评级理由主要包括：1）需求弱复苏下Q4主业平稳恢复；2）基地市场承压，外埠拓展在途；3）返货率偏高、工厂折旧增加影响毛利表现，盈利能力承压；4）稳步推进全国化布局，后续在需求复苏、规模效应下有望释放业绩弹性。风险提示：原材料价格上涨，需求复苏及产能投产不及预期，行业竞争加剧食品安全风险。AI点评：...

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民生证券给予桃李面包推荐评级 2023年年报点评：主业平稳恢复 业绩短期承压

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民生证券给予桃李面包推荐评级 2023年年报点评：主业平稳恢复业绩短期承压