壹评级：鸣鸣很忙业绩高增，规模与效率双轮驱动逻辑兑现

第一财经08-26

鸣鸣很忙发布2026年上半年业绩，实现收入450亿元，同比增长60%；归母净利润达22.4亿元，同比大增155%。第一财经“壹评级”认为，公司短期业绩超预期，充分验证了“规模扩张+效率提升”双轮驱动逻辑的有效性，当前估值具备安全边际。　　收入方面，公司上半年净开店4457家，开店节奏明显加速，同时闭店率同步收敛，印证了其单店盈利模型的稳定性。运营方面，精细化会员运营成效凸显，会员销售占比达80%...

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