8月25日，兔宝宝盘中上涨2.00%，截至09:58，报10.69元/股，成交6367.05万元，换手率0.82%，总市值 88.70亿元。 资金流向方面，主力资金净流入16.81万元，特大单买入502.07万元，占比7.89%，卖出730.86万元，占 比11.48%；大单买入1056.85万元，占比16.60%，卖出811.24万元，占比12.74%。 机构持仓方面，截止2025年6月30日，兔宝宝十大流通股东中，东方阿尔法产业先锋混合A（011704） 位居第六大流通股东，持股711.43万股，相比上期减少30.00万股。香港中央结算有限公司位居第七大流 通股东，持股635.63万股，为新进股东。国富中小盘股票A（450009）位居第八大流通股东，持股 618.66万股，为新进股东。华夏回报混合A（002001）、交银阿尔法核心混合A（519712）退出十大流 通股东之列。 兔宝宝今年以来股价跌7.56%，近5个交易日涨4.60%，近20日涨5.01%，近60日涨5.74%。 责任编辑：小浪快报 资料显示，德华兔宝宝装饰新材股份有限公司位于浙江省德清县阜溪街道临溪街588号，成立日期2001 年12月2 ...

2025 年中报点评：装饰板材收入承压，盈利 能力同比改善 增持（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 9,063 | 9,189 | 9,532 | 10,127 | 10,798 | | 同比（%） | 1.63 | 1.39 | 3.74 | 6.24 | 6.63 | | 归母净利润（百万元） | 689.42 | 585.25 | 754.38 | 877.47 | 957.99 | | 同比（%） | 54.66 | (15.11) | 28.90 | 16.32 | 9.18 | | EPS-最新摊薄（元/股） | 0.83 | 0.70 | 0.91 | 1.05 | 1.15 | | P/E（现价&最新摊薄） | 12.71 | 14.97 | 11.61 | 9.98 | 9.15 | [Table_Tag] [Table_Summary] 投资要点 证券研究报告·公司点评报告·装修建材 ...

Group 1 - The company reported a revenue of 9.189 billion yuan for 2024, a year-on-year increase of 1.39%, while the net profit attributable to shareholders was 585 million yuan, a decrease of 15.11% [1] - In Q1 2025, the company achieved a revenue of 1.271 billion yuan, a year-on-year decrease of 14.3%, with a net profit of 101 million yuan, an increase of 14.22% [1] - The decorative materials business generated a revenue of 7.404 billion yuan in 2024, a year-on-year increase of 7.99%, with board products contributing 4.77 billion yuan, a year-on-year increase of 7.57% [1] Group 2 - The company continued to expand its retail channels, focusing on the rural market, with 1,413 new rural stores established in 2024, bringing the total to 2,152 by year-end [1] - The custom home business achieved a revenue of 707 million yuan in 2024, a year-on-year increase of 18.49%, while Yufeng Hantang reported a revenue of 610 million yuan, a decrease of 46.81% [1] - The company's gross profit margin for 2024 was 18.1%, a year-on-year decrease of 0.32 percentage points, with the custom home business gross margin declining by 2.29 percentage points [2] Group 3 - The company reported a net cash flow from operating activities of 1.152 billion yuan in 2024, down from 1.91 billion yuan in the previous year, primarily due to increased cash payments for goods and services [2] - The proposed cash dividend for 2024 is 3.2 yuan per 10 shares (including tax), resulting in a total dividend payout ratio of 84% for the year [2] - The company is a leader in the decorative board industry, actively expanding its channels to furniture factories and home decoration companies while optimizing its customer structure for steady operations [3]