申洲国际订单饱满行稳致远,低估值迎良机

华泰证券
30 Dec 2024

从需求端看,我们预计公司订单饱满,2H24销量有望同比实现双位数增长,ASP同比降幅有望收窄至持平左右。量价表现较1H24趋势有所不同,主要因运动品牌订单的增速的恢复。1H24公司收入同比增长12.0%,其中销量同比增长超过20%,ASP同比高单位数下降。ASP下降主要因成本价格的下降以及产品结构的变化,单价较低的内衣类/休闲类产品营收分别同比增长47.4%/20.0%,而单价较高的运动类产品营收...

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