研报掘金丨国盛证券：比音勒芬Q2收入高增长，维持“买入”评级

格隆汇08-27

国盛证券研报指出，比音勒芬2025H1收入同比+9%/归母净利润同比-14%，Q2收入高增长，电商表现领跑行业，品牌发展韧性凸显。2025年收入预计持续快速增长，新品牌投入彰显发展信心。公司持续推进线下拓店及电商建设，中长期主品牌收入增长持续领跑行业，同时坚持新品牌投入彰显中长期业务发展信心。该行判断2025Q3以来公司流水保持同比增长，综合估计2025全年公司收入有望增长10%+。主品牌卡位运动...

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