波司登：创新驱动波司登韧性高基数及外部扰动下表现稳健

开源证券2025-03-11

创新驱动波司登韧性，高基数及外部扰动下表现稳健，维持“买入”评级据《中国气候公报（2024）》，2024 年四季气温均偏高，冬季冷暖起伏大。考虑冬季气候变化及春节旺季销售时间缩短对公司销售影响，我们略下调盈利预测，预计FY2025-2027 归母净利润35.1/40.0/45.4 亿元(此前为36.2/41.7/47.7 亿元)，当前股价对应PE 为12.5/10.9/9.6 倍，公司羽绒服龙头...

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波司登：创新驱动波司登韧性 高基数及外部扰动下表现稳健

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波司登：创新驱动波司登韧性高基数及外部扰动下表现稳健