研报掘金丨东方证券：维持元祖股份“买入”评级，盈利修复具备较强确定性

格隆汇2025-08-01

东方证券研报指出，元祖股份半年报业绩下降，全年开店有望略加速。2022–2024年公司第三季度营收为10.8/10.84/9.42亿元，占全年营收41%左右，归母净利润贡献占比在88.7%–91.7%之间，全年利润高度依赖中秋节。今年以来，公司加大投入，通过短视频、社交媒体等高效传播渠道进行精准广告投放。现有会员规模已突破1,300万，正通过深化会员体系驱动业绩增长。考虑到节庆送礼消费市场承压，...

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