步步高股价跌2.81%创60日新低，预计2025年净利润下滑超87%

Stock Performance - As of February 26, 2026, the stock price of Bubugao (002251.SZ) decreased by 2.81%, closing at 4.84 yuan, which is below its 60-day moving average of 5.338 yuan, marking a new low for the 60-day period [1] - The company's stock performance was weaker than the market and its sector, with the Shanghai Composite Index slightly down by 0.01% and the Shenzhen Component Index up by 0.19%. The retail trade sector and general retail sector saw declines of 1.22% and 1.51%, respectively [1] - On that day, there was a net outflow of 83.2979 million yuan in main funds, which may exert pressure on the stock price [1] Company Fundamentals - According to the earnings forecast released on January 30, 2026, the company expects a net profit attributable to shareholders for 2025 to be between 100 million yuan and 150 million yuan, representing a year-on-year decline of 87.62% to 91.75% [2] - The profit decline is primarily due to the recognition of a large restructuring gain of 2.879 billion yuan in 2024, with a significant reduction in such non-recurring gains in 2025, leading to a return to normal operating profit levels [2] - Although the net profit excluding non-recurring gains shows a significant reduction in losses, the market may focus more on the overall contraction in net profit [2] Technical Indicators - The company's MACD indicator shows a negative divergence, and the KDJ indicator is at a low level, indicating a weak short-term trend [3] - The 20-day moving average of 5.099 yuan serves as a recent resistance level [3]