本报告导读:收入与利润率指引低预期导致股价承压,主要系文旅及出国留学业务拖累,核心主业收入及盈利符合预期,关注拓店放缓后盈利改善。投资要点:投资建议:考虑到短期竞争格局加剧及消费降级影响,利润率或受拖累,下调公司FY2025-2027 Non-GAAP 净利润分别为4.7(-9%)/5.38(-19%)/7.36(-9%)亿美金,EPS 为0.27/0.31/0.43 美金。业绩简述:公司...
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