达势股份(01405.HK)：高增长的比萨行业领军者品牌势能强劲

招商证券07-02

达势股份作为比萨行业领军品牌达美乐的中国独家经销商，产品种类丰富叠加“外卖30 分钟必达”构筑竞争壁垒。得益于较强的品牌势能，公司于新增长区域加速扩张，同店量价齐升逆势实现强劲增长，规模效益下带动单店层面持续优化，利润拐点已至。长期来看达势股份拓店空间依然广阔，单店Op Margin仍具优化空间，看好公司后续利润持续释放，首次覆盖给予“增持”评级。高速扩张的国内比萨领军品牌，同店逆势增长强劲。...

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达势股份(01405.HK)：高增长的比萨行业领军者 品牌势能强劲

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达势股份(01405.HK)：高增长的比萨行业领军者品牌势能强劲