苏美达涨0.88%，报12.58元/股，股价再创新高，总市值突破164.38亿元，成交额达1850.22万元。（AI 生成） ...

格隆汇2月4日丨苏美达(600710.SH)涨1.57%，报12.310元，股价创历史新高，总市值160.86亿元。 ...

证券之星消息，2月3日贸易板块较上一交易日上涨2.76%，苏美达领涨。当日上证指数报收于4067.74， 上涨1.29%。深证成指报收于14127.1，上涨2.19%。贸易板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600608 | *ST PA | 3.67 | -3.67% | 5.39万 | = 1968.80万 | | 600250 | 南京商旅 | 11.30 | 0.36% | 10.45万 | 1.18 Z | | 600287 | 赤蒙时尚 | 5.95 | 0.51% | 6.67万 | 3968.36万 | | 000151 | 中成股份 | 13.26 | 0.61% | 5.11万 | 6781.85万 | | 600278 | 东方创业 | 8.60 | 1.30% | 8.33万 | 7198.31万 | | 002091 | 江苏国泰 | 8.67 | 1.40% | 16.02万 | 1.38亿 | | 600128 | 示索弘业 | 1 ...

浦银安盛红利精选混合A（519115）基金经理为陈晨。 截至发稿，陈晨累计任职时间1年118天，现任基金资产总规模3.27亿元，任职期间最佳基金回报 29.61%， 任职期间最差基金回报11.4%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 2月3日，苏美达涨5.02%，截至发稿，报11.93元/股，成交1.79亿元，换手率1.16%，总市值155.90亿 元。 资料显示，苏美达股份有限公司位于江苏省南京市长江路198号，成立日期1996年6月24日，上市日期 1996年7月1日，公司主营业务涉及包括产业链、供应链两大类。产业链涵盖大消费、大环保等领域,主 要产品或服务包括:纺织服装、家用动力产品(含园林机械、清洗机械及汽油发电机组等)、环保工程(含 污水处理、垃圾处理、土壤修复、餐厨垃圾处理、可降解塑料工业工程等)、清洁能源(含光伏产品、工 程、运维)、船舶制造与航运等。供应链即供应链集成服务,指大宗商品运营与机电设备进口。 ...

（编辑 袁冠琳） 证券日报网讯 2月2日，苏美达在互动平台回答投资者提问时表示，公司积极顺应财务数智化转型趋 势，结合业务发展需要，按照行业类别、业务板块建立了财务共享管理模式，旨在通过流程标准化和自 动化，提升公司会计核算、资金结算、税务申报以及费用支付等核心共享作业的效率，释放共享财务人 效，强化运营风险管控，为公司的高质量发展提供坚实支撑。 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the near term [5]. Core Insights - The company has reported better-than-expected earnings, with significant contributions from its shipbuilding and diesel generator segments, which provide earnings elasticity. The dividend yield is seen as a protective moat for investors [5]. - The shipbuilding segment is expected to benefit from a decline in steel prices, with projected revenue growth of 14% in 2025, followed by a slight decrease in 2026 and a rebound in 2027 [5]. - The diesel generator segment shows strong market competitiveness, with ongoing projects for major clients like China Mobile, indicating robust demand and performance stability [5]. - The company has a diversified business model and a global operational network, which helps mitigate risks associated with market fluctuations and trade policy changes [5]. - The projected dividend yield for 2025 and 2026 is approximately 3.7% and 4.1%, respectively, based on a maintained payout ratio of 42% [5]. Financial Data and Earnings Forecast - Total revenue is forecasted to be 117,803 million yuan in 2025, with a year-on-year growth rate of 0.5%. The net profit attributable to the parent company is expected to reach 1,355 million yuan, reflecting an 18% increase [4]. - The earnings per share (EPS) is projected to be 1.04 yuan for 2025, with a gradual increase to 1.23 yuan by 2027 [4]. - The gross profit margin is expected to improve from 7.4% in 2025 to 7.8% in 2027, indicating better cost management and pricing power [4]. - The return on equity (ROE) is projected to be 15.9% in 2025, slightly decreasing to 15.5% by 2027, which reflects stable profitability [4].

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Insights - The company has exceeded performance expectations, with shipbuilding and diesel generator contributions showing significant elasticity. The dividend yield is seen as a protective moat [6] - The company expects a 2025 net profit of 1.355 billion yuan, representing an 18% year-on-year increase, with a strong Q4 performance [8] - The shipbuilding segment is projected to benefit from declining steel prices, with expected revenue growth of 14% in 2025 [8] - The diesel generator segment shows strong market competitiveness, with several key projects won, indicating robust performance [8] - The company's diversified operations and global layout provide stability against market fluctuations [8] - The dividend payout ratio is projected at 42%, leading to an estimated dividend yield of approximately 3.7% to 4.1% for 2025 and 2026 [8] - The 2025 net profit forecast has been raised to 1.4 billion yuan, with maintained projections for 2026 and 2027 [8] Financial Data and Profit Forecast - Total revenue is projected to be 117.803 billion yuan in 2025, with a year-on-year growth rate of 0.5% [7] - The net profit attributable to the parent company is expected to reach 1.355 billion yuan in 2025, with a growth rate of 18% [7] - Earnings per share are forecasted to be 1.04 yuan in 2025, increasing to 1.13 yuan in 2026 [7] - The company's return on equity (ROE) is projected to be 15.9% in 2025 [7]

证券研究报告 | 行业周报 gszqdatemark 2026 02 01 年 月 日 商贸零售 商社板块 2025 年四季度前瞻 1. 零售板块四季度前瞻： （1）黄金珠宝：①老凤祥：我们预计 25Q4 归母净利增速-15%至 5%。 ②周大生：我们预计 25Q4 归母净利增速 15%至 30%。③潮宏基：公司 预告 2025 年归母净利润 4.36 亿-5.33 亿元同比增 125%-175%，测算 25Q4 归母净利润 1.2-2.2 亿元；2025 年底潮宏基珠宝门店总数 1668 家， 年内净增 163 家。④菜百股份：公司预告 2025 年归母净利润 10.6 亿-12.3 亿，对应 25Q4 归母净利增速 150%-254%。⑤豫园股份：公司预告 25Q4 归母亏损 43.12 亿元，24 年同期亏损 10.3 亿元，主因公司持续瘦身健体， 对部分存在减值迹象的房地产项目及商誉等计提资产减值准备。 （2）潮玩：名创优品：我们预计 25Q4 收入增速 25%-30%，经调整 OP 同比双位数增长，经调整归母净利增速 10%至 20%。 （3）商超百货：①重庆百货：公司预告 2025 年归母净利 1 ...

Investment Rating - The report maintains an "Accumulate" rating for the industry [5] Core Views - The report emphasizes the importance of focusing on sub-sectors with performance elasticity during the upcoming Spring Festival peak season, including duty-free, certain scenic spots, supermarkets, and gold jewelry [9] - It suggests that the recent fundamentals of duty-free and travel chains have improved, warranting ongoing observation and validation [9] - For 2026, the report recommends focusing on service consumption and product consumption, particularly in the duty-free and travel chain sectors, as well as the gold jewelry sector and Miniso, which have high valuation attractiveness [9] Summary by Relevant Sections Retail Sector Outlook for Q4 2025 - Gold Jewelry: - Lao Feng Xiang: Expected net profit growth of -15% to 5% - Zhou Da Sheng: Expected net profit growth of 15% to 30% - Chao Hong Ji: Forecasted net profit of 436 million to 533 million, a year-on-year increase of 125% to 175% - Cai Bai Co.: Expected net profit of 1.06 billion to 1.23 billion, corresponding to a growth of 150% to 254% - Yu Garden Co.: Forecasted loss of 4.312 billion, primarily due to asset impairment provisions [1] - Trendy Toys: - Miniso: Expected revenue growth of 25% to 30%, with adjusted operating profit and net profit growth of 10% to 20% [1] Supermarket and Department Store Outlook for Q4 2025 - Chongqing Department Store: Expected net profit of 1.021 billion, a year-on-year decrease of 22.4% - Wangfujing: Expected net profit of -45 million to -23 million, with a growth rate of -6.6% to 7.3% - Yonghui Supermarket: Expected loss of 2.14 billion, with a growth rate of -3.1% - Jiajiayue: Expected net profit of 198 million to 228 million, growth of 50.1% to 72.8% - Hongqi Chain: Expected net profit growth of -10% to 0% [2] Cross-Border and E-commerce Outlook for Q4 2025 - Small Commodity City: Expected net profit growth of 5% to 15% - Anker Innovation: Expected net profit growth of 10% to 20% - Saiwei Times: Expected net profit of 90 million to 130 million - Huakai Yibai: Expected net profit of 80 million to 110 million, driven by improved operational efficiency [3] Social Services Sector Outlook for Q4 2025 - Duty-Free: China Duty-Free Group: Expected net profit growth of 29% to 173% - Tourism: - Songcheng Performance: Expected net profit growth of -204% to 294% - Tianmu Lake: Expected net profit growth of -10% to 5% [4] Investment Recommendations - The report recommends focusing on companies such as Small Commodity City, China Duty-Free, Huazhu Group, Shoulu Hotel, Jinjiang Hotel, Chao Hong Ji, Jiuhua Tourism, Ruoyu Chen, Qingmu Technology, and Miniso, while also keeping an eye on other companies with potential [10]

Investment Rating - The report assigns an "Accumulate" rating for the industry [4]. Core Insights - The civil aviation sector is expected to see record-high passenger transport volumes during the Spring Festival [2]. - The report highlights optimism for travel-related sectors, including hotels, duty-free shops, and scenic spots, due to the upcoming holiday and improved vacation policies [4]. - The report suggests selecting short-term outperformers in the gold sector as the recent surge in gold prices may be ending [4]. - AI applications and undervalued new consumption sectors are also recommended for investment [4]. Summary by Relevant Sections Industry Overview - The report notes a significant increase in domestic flight ticket bookings, with over 7.16 million tickets reserved as of January 29, 2026, reflecting a year-on-year growth of approximately 16% [4]. - International flight bookings also show slight growth, with over 1.72 million tickets reserved [4]. Retail Sector Insights - The report cites a Bain & Company report indicating a 3% to 5% contraction in China's personal luxury goods market in 2025, although this represents a significant improvement compared to the previous year's decline [4]. Company Announcements - Cai Bai Co. expects a net profit of 1.06 billion to 1.23 billion RMB for 2025, a year-on-year increase of 47.43% to 71.07% [4]. - Lai Shen Tong Ling anticipates a turnaround with a projected net profit of 58 million RMB for 2025, compared to a loss of 184 million RMB in the previous year [4]. - Yu Garden Co. expects a net loss of approximately 4.8 billion RMB for 2025, a significant decline from a profit of 125 million RMB in the previous year [4]. - Cuihua Jewelry forecasts a net profit of 21 million to 31 million RMB for 2025, a decrease of 85.69% to 90.31% compared to the previous year [4]. Key Stock Recommendations - The report recommends several stocks across various sectors, including: - Hotels: Huazhu Group, ShouLai Hotel, JinJiang Hotels [4]. - Duty-free: China Duty Free Group [4]. - Scenic spots: Emei Mountain A, Jiuhua Tourism, Huangshan Tourism [4]. - Gold sector: Cai Bai Co., Luk Fook Holdings, Lao Pu Gold [4]. - AI and new consumption: Kangnait Optical, Huatu Shanding, Tianli International Holdings [4].