11月6日，水星家纺盘中下跌2.17%，截至10:08，报22.11元/股，成交3139.01万元，换手率0.54%，总市 值58.07亿元。 截至9月30日，水星家纺股东户数8501.00，较上期增加11.99%；人均流通股30561股，较上期减少 10.10%。2025年1月-9月，水星家纺实现营业收入29.76亿元，同比增长10.91%；归母净利润2.32亿元， 同比增长10.74%。 分红方面，水星家纺A股上市后累计派现14.22亿元。近三年，累计派现6.54亿元。 机构持仓方面，截止2025年9月30日，水星家纺十大流通股东中，中欧养老混合A（001955）位居第四 大流通股东，持股926.32万股，相比上期增加64.99万股。 责任编辑：小浪快报 水星家纺今年以来股价涨44.39%，近5个交易日涨5.64%，近20日涨32.55%，近60日涨24.07%。 资料显示，上海水星家用纺织品股份有限公司位于上海市奉贤区沪杭公路1487号，成立日期2000年12月 7日，上市日期2017年11月20日，公司主营业务涉及中高档家用纺织品的研发、设计、生产和销售。主 营业务收入构成为：销售商品99.89%，其 ...

公司报告 | 季报点评 大单品构筑产品矩阵 四大单品构筑水星睡眠科技产品矩阵，包括轻一半暖更多、升温快 45.3% 的泡芙鹅绒被，蕴含四重养肤科技、保湿透气更亲肤的胶原蛋白蚕丝被， 采用温湿双控技术、入睡快 42.9%的水星闪睡被以及能延长深睡 35 分钟 的人体工学枕，凭借差异化功能精准匹配不同人群的睡眠痛点；此外，水 星 STARZ HOME25 秋冬俪系列已上市。 创新营销方式 25Q3，公司与人气潮玩 IP RumBaby 肉宝合作推出多款联名产品；为法 国雅高集团旗下深圳时尚小镇美憬阁精选酒店打造两款高定联名床品；在 上海长宁来福士广场开展"用水星，稳躺赢"水星睡眠科技互动体验展； 人体工学枕助力车手征战 2025 世界摩托车越野锦标赛。 春夏新品订货会 公司发布三季报 25Q3：营收 10.54 亿，同比+20.19%，归母净利 0.91 亿，同比+43.18%，毛 利率 44.74%，同比+4pp，净利率 8.63%，同比+1.4pp； 25Q1-3：营收 29.76 亿，同比+10.91%，归母净利 2.32 亿，同比+10.74%， 毛利率 44.18%，同比+2.8pp，净利率 7.8%， ...

2)运营效率：2025Q3多数品牌存货周转天数仍同比上升，仅歌力思、雅戈尔、罗莱生活、水星家纺存 货周转天数同比下降。 3)港股运动：天气因素及内需疲软导致Q3流水普遍有所承压，部分环比Q2有所降速。 智通财经APP获悉，国泰海通发布研报称，25Q3A股服饰板块收入增速转正，净利实现显著增长，主要 得益于2024Q3基数走低，分赛道来看，家纺表现相对亮眼。纺织制造方面，25Q3A股纺织制造收入、 利润降幅双双收窄。展望后市，短期关税承担影响年末结束，未来订单景气度是核心变量；多数海外品 牌Q3完成提价，Q4海外消费趋势(美国高基数)为重要观察指标。在出口美国转运税率政策进一步确定 的基础上，具有成熟海外产能的中游OEM订单集中度和产能优势将凸显。 国泰海通主要观点如下： 行业复盘 1)需求层面：①内需：1-9月中国穿类实物商品网上零售额同比+2.8%，环比1-8月提速。②美国服装零 售：8月美国服装及服装配饰店零售额同比+8.3%，环比7月加速；自5月起，美国纺服零售增长已连续4 个月环比加速。 2)出口层面：①中国出口：9月我国纺织品服装出口额同比-1.5%，其中纺织品/成衣出口额分别同比 +6%/-8%。 ...

资料显示，上海水星家用纺织品股份有限公司位于上海市奉贤区沪杭公路1487号，成立日期2000年12月 7日，上市日期2017年11月20日，公司主营业务涉及中高档家用纺织品的研发、设计、生产和销售。主 营业务收入构成为：销售商品99.89%，其他(补充)0.11%。 水星家纺所属申万行业为：纺织服饰-服装家纺-家纺。所属概念板块包括：高派息、小盘等。 11月4日，水星家纺盘中上涨2.09%，截至10:12，报23.43元/股，成交4703.95万元，换手率0.79%，总市 值61.54亿元。 截至9月30日，水星家纺股东户数8501.00，较上期增加11.99%；人均流通股30561股，较上期减少 10.10%。2025年1月-9月，水星家纺实现营业收入29.76亿元，同比增长10.91%；归母净利润2.32亿元， 同比增长10.74%。 资金流向方面，主力资金净流出529.42万元，特大单买入118.77万元，占比2.52%，卖出182.59万元，占 比3.88%；大单买入331.42万元，占比7.05%，卖出797.01万元，占比16.94%。 分红方面，水星家纺A股上市后累计派现14.22亿元。近三年， ...

证券之星消息，11月3日服装家纺板块较上一交易日上涨1.32%，棒杰股份领涨。当日上证指数报收于 3976.52，上涨0.55%。深证成指报收于13404.06，上涨0.19%。服装家纺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) | | | --- | --- | --- | --- | --- | --- | --- | | 002634 | 棒杰股份 | 5.59 | 10.04% | 32.67万 | | 1.77亿 | | 603608 | 天创时尚 | 8.10 | 7.57% | 14.55万 | | = 1.14亿 | | 003041 | 真要美家 | 32.19 | 7.16% | 13.10万 | | 4.07亿 | | 002486 | 嘉麟杰 | 3.23 | 6.95% | 144.11万 | | 4.57亿 | | 603365 | 水星家纺 | 22.95 | 5.86% | 6.88万 | | 1.56亿 | | 600107 | ST尔雅 | 8.30 | 4.67% | 8.98万 | | 7232.14万 | | ...

Core Insights - The article highlights the top-performing stocks in the S&P China A-Share Dividend Opportunity Index, showcasing significant price increases and dividend yields for various companies [1]. Group 1: Stock Performance - The top stock, 健盛集团 (Jiansheng Group), experienced a daily increase of 6.42% and a year-to-date increase of 19.34%, with a dividend yield of 4.65% [1]. - 江苏国泰 (Jiangsu Guotai) follows closely with a daily increase of 6.26% and a year-to-date increase of 32.93%, offering a dividend yield of 4.28% [1]. - Other notable performers include 岱美股份 (Daimai Co.) with a daily increase of 5.10% and a year-to-date increase of 15.36%, and 新澳股份 (Xinao Co.) with a daily increase of 4.17% and a year-to-date increase of 20.00% [1]. Group 2: Dividend Yields - The article lists several companies with attractive dividend yields, such as 森马服饰 (Semir Fashion) at 9.24%, 长沙银行 (Changsha Bank) at 6.48%, and 家非业 (Jiafei Industry) at 7.69% [1]. - The dividend yields for other companies in the top 20 range from 2.08% to 5.12%, indicating a generally favorable income potential for investors [1]. Group 3: Year-to-Date Performance - The year-to-date performance of the listed stocks varies significantly, with some companies like 水星家纺 (Mercury Home Textiles) showing a remarkable increase of 40.30%, while others like 科思股份 (Kesi Co.) have seen a decline of 23.81% [1]. - Overall, the data reflects a mixed performance landscape, with certain stocks demonstrating resilience and growth potential in the current market environment [1].

Investment Rating - The investment rating for the company is "Buy" [5] Core Insights - The company achieved a revenue of 1.054 billion yuan in Q3 2025, representing a year-on-year increase of 20.2%, and a net profit attributable to shareholders of 91 million yuan, up 43.2% year-on-year [1] - The online sales channel is the main growth driver, with online revenue growing approximately 20% year-on-year, accounting for over 55% of total revenue [2] - The gross margin significantly improved to 44.7% in Q3 2025, an increase of 4.2 percentage points year-on-year, driven by product structure upgrades and a decrease in raw material costs [3] Financial Summary - For the first three quarters of 2025, the company reported a total revenue of 2.976 billion yuan, a year-on-year increase of 10.9%, and a net profit of 232 million yuan, up 10.7% year-on-year [1] - The company plans to distribute a mid-term dividend of 0.2 yuan per share, with a dividend payout ratio of 22.3% [1] - The company forecasts revenues of 4.593 billion yuan, 4.926 billion yuan, and 5.274 billion yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of 394 million yuan, 429 million yuan, and 462 million yuan [4]

Group 1 - The article highlights the top 20 stocks in the S&P China A-Share Dividend Opportunities Index, showcasing their daily and year-to-date performance along with dividend yields [1][2] - The top performer is COSCO Shipping Energy Transportation (600026.SH) with a daily increase of 8.76% and a year-to-date increase of 19.08%, offering a dividend yield of 2.77% [1] - China National Foreign Trade Transportation Group (601598.SH) ranks second with a daily increase of 7.40% and a year-to-date increase of 31.14%, providing a dividend yield of 4.28% [1] Group 2 - The index consists of 100 stocks, with a maximum weight of 3% for any single stock and a maximum of 33% for any single GICS industry [2] - The index's historical price-to-earnings ratio is 10.08, with an expected price-to-earnings ratio of 10.64, and a dividend yield of 5.18% [2] - The data for the index is sourced from the Shanghai and Shenzhen Stock Exchanges, with the latest update as of October 30, 2025 [2]

水星家纺（603365.SH） 证券研究报告/公司点评报告 2025 年 10 月 30 日 | 评级： | 买入（维持） | 公司盈利预测及估值 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 指标 | | 2023A | 2024A | 2025E | 2026E | 2027E | | 分析师：张潇 | | 营业收入（百万元） | | 4,211 | 4,193 | 4,634 | 5,107 | 5,598 | | | | 增长率 yoy% | | 15% | 0% | 11% | 10% | 10% | | 执业证书编号：S0740523030001 | | 归母净利润（百万元） | | 379 | 367 | 400 | 442 | 489 | | Email：zhangxiao06@zts.com.cn | | 增长率 yoy% | | 36% | -3% | 9% | 11% | 11% | | | | 每股收益（元） | | 1.44 | 1.40 | 1.52 | 1.68 | 1.86 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 23.70 CNY based on a 15x PE valuation for 2025 [3][5]. Core Insights - The company reported significant growth in Q3, with revenue and net profit attributable to the parent company increasing by 20% and 43% year-on-year, respectively. The growth was driven primarily by the e-commerce business, which is expected to continue to be a key growth driver [10]. - The strategy of focusing on high-tech, high-functionality flagship products has proven effective, contributing to the strong performance in Q3. The company has optimized its product mix and procurement strategies, leading to improved gross margins [10]. - The outlook for the company remains positive, with expectations of steady growth in the upcoming quarters and years, supported by a strategic focus on technology products and enhanced brand investment [10]. Financial Forecasts - Revenue projections for 2025-2027 are adjusted to 4.685 billion CNY, 5.139 billion CNY, and 5.485 billion CNY, respectively, reflecting an increase from previous estimates [3][11]. - Earnings per share (EPS) estimates for 2025-2027 are revised to 1.58 CNY, 1.79 CNY, and 1.94 CNY, respectively, up from earlier forecasts [3][11]. - The gross margin is expected to improve to 43.2% in 2025, with net profit margins projected to be 8.9% [3][10]. Key Financial Metrics - The company is projected to achieve a net profit of 416 million CNY in 2025, with a year-on-year growth of 13.5% [3][10]. - The return on equity (ROE) is expected to stabilize around 12.9% in 2025, indicating a solid profitability outlook [3][10]. - The company's market capitalization is approximately 5.305 billion CNY, with a total share count of 26.263 million shares [5].