研报掘金丨中银证券：维持伊利股份“买入”评级，整体经营稳健向上

格隆汇09-11

中银证券研报指出，伊利股份资产减值影响利润表现，整体经营稳健向上。1H26公司实现归母净利57.6亿元，同比-20.0%；2Q26归母净利3.6亿元，同比-84.4%。上半年公司经营稳健，前期渠道去库效果显现，液奶企稳，婴配粉及冷饮业务维持行业领先地位，内生增长具备韧性。公司紧抓健康轻量化、场景跨界等需求趋势，在去年同期高基数上，延续双位数增长，表现亮眼。下半年，随着中秋、国庆销售旺季的提振，结合...

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