研报掘金丨浙商证券：维持三夫户外“买入”评级，秋冬旺季展望乐观

格隆汇2025-09-12

浙商证券研报指出，三夫户外25H1实现归母净利润1682万元（同比+106%），Q2归母净利润415万元（同比-46.4%）。25H1收入双位数增长，盈利能力改善。随着秋冬新产品上市、新形象门店持续开拓，以及加盟体量壮大，X-BIONIC及独家代理品牌下半年增速有望提速或保持。公司定增完成后将重点发力市场营销，进一步提升X-BIONIC品牌知名度。公司全面转型品牌运营，X-BIONIC势头强劲，...

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