中商官网
研究报告
名创优品（HK9896）
主要经济指标
| 类别\年份 | 营业额 （元) |
营业额同比 （%) |
营业利润 （元) |
营业利润同比 （%) |
利润总额 （元) |
利润总额同比 （%) |
净利润 （元) |
净利润同比 （%) |
| 2024-12 | 16994025000.0000 | 122.65 | 7637060000.0000 | 135.64 | 3347532000.0000 | 102.54 | 2617560000.0000 | 109.67 |
| 2025-03 | 4427044000.0000 | 18.89 | 1958037000.0000 | 21.13 | 567681000.0000 | -26.12 | 416342000.0000 | -28.52 |
| 2024-06 | 7758743000.0000 | 25.01 | 3389786000.0000 | 37.94 | 1529121000.0000 | 15.13 | 1170102000.0000 | 16.45 |
| 2024-09 | 12281320000.0000 | 22.84 | 5419762000.0000 | 34.12 | 2391532000.0000 | 9.99 | 1811867000.0000 | 12.02 |
| 2024-03 | 3723531000.0000 | 26.04 | 1616458000.0000 | 39.14 | 768386000.0000 | 27.85 | 582472000.0000 | 25.13 |
| 2023-12 | 7632467000.0000 | 44.91 | 3241039000.0000 | 63.22 | 1652742000.0000 | 64.39 | 1248405000.0000 | 63.38 |
| 2023-09 | 9997484000.0000 | 260.60 | 4041090000.0000 | 308.78 | 2174403000.0000 | 306.75 | 1617427000.0000 | 292.93 |
| 2022-12 | 5266878000.0000 | -2.95 | 1985660000.0000 | 24.78 | 1005409000.0000 | 113.94 | 764090000.0000 | 126.88 |
| 2023-03 | 2954148000.0000 | -61.97 | 1161745000.0000 | -49.44 | 601002000.0000 | -2.36 | 465505000.0000 | 7.42 |
| 2023-06 | 6206330000.0000 | -38.46 | 2457392000.0000 | -19.95 | 1328205000.0000 | 46.47 | 1004836000.0000 | 57.85 |
| 2022-06 | 10085649000.0000 | 11.18 | 3069761000.0000 | 26.29 | 906813000.0000 | -174.56 | 636594000.0000 | -149.04 |
| 2022-09 | 2772444000.0000 | 4.46 | 988579000.0000 | 35.71 | 534579000.0000 | 154.72 | 411634000.0000 | 170.74 |
| 2021-12 | 5426908000.0000 | 24.19 | 1591342000.0000 | 36.58 | 469956000.0000 | -130.05 | 336779000.0000 | -121.96 |
| 2021-09 | 2654115000.0000 | -- | 728443000.0000 | -- | 209872000.0000 | -- | 152039000.0000 | -- |
| 2022-03 | 7767943000.0000 | 17.71 | 2297858000.0000 | 28.26 | 615546000.0000 | -143.92 | 433333000.0000 | -130.68 |
| 2021-06 | 9071659000.0000 | -2.12 | 2430686000.0000 | -19.39 | -1216192000.0000 | 1926.24 | -1298081000.0000 | 466.91 |
| 2021-03 | 6599304000.0000 | -- | 1791613000.0000 | -- | -1401479000.0000 | -- | -1412523000.0000 | -- |
| 2020-06 | 9268312000.0000 | -6.80 | 3015444000.0000 | 0.21 | -60022000.0000 | 643.58 | -228973000.0000 | -16.53 |
| 2020-12 | 4369860000.0000 | -- | 1165144000.0000 | -- | -1563952000.0000 | -- | -1533803000.0000 | -- |
| 2019-06 | 9944039000.0000 | -- | 3009057000.0000 | -- | -8072000.0000 | -- | -274318000.0000 | -- |
| 2025-06 | 9393112000.0000 | 21.06 | 4156918000.0000 | 22.63 | 1194191000.0000 | -21.90 | 906030000.0000 | -22.57 |
| 2025-09 | 15189757000.0000 | 23.68 | 6746990000.0000 | 24.49 | 1864339000.0000 | -22.04 | 1346569000.0000 | -25.68 |
| 2025-12 | 21443827000.0000 | 26.18 | 9648119000.0000 | 26.33 | -- | -100.00 | -- | -100.00 |
盈利能力分析
| 类别\年份 | 销售毛利率 （%) |
主营利润率 （%) |
总资产利润率 （%) |
净资产收益率 （%) |
存货周转率 | 应收账款周转率 （次) |
总资产周转率 （次) |
| 2024-12 | 44.94 | 19.6600 | 18.47 | 25.3800 | 3.40 | -- | 0.94 |
| 2025-03 | 44.23 | 12.8700 | 2.17 | 3.9200 | 0.87 | -- | 0.17 |
| 2024-06 | 43.69 | 19.7000 | 9.73 | 12.0700 | 2.24 | -- | 0.49 |
| 2024-09 | 44.13 | 19.4500 | 14.82 | 19.0200 | 2.99 | -- | 0.76 |
| 2024-03 | 43.41 | 20.6300 | 5.15 | 6.4200 | 1.12 | -- | 0.25 |
| 2023-12 | 42.46 | 21.6500 | 11.41 | 13.6200 | 2.28 | -- | 0.53 |
| 2023-09 | 40.42 | 21.7500 | 15.93 | 18.8100 | 3.20 | -- | 0.73 |
| 2022-12 | 37.70 | 19.0900 | 8.38 | 9.7900 | 2.22 | -- | 0.44 |
| 2023-03 | 39.33 | 20.3400 | 4.78 | 5.6300 | 1.29 | -- | 0.24 |
| 2023-06 | 39.59 | 21.4000 | 9.88 | 11.2900 | 2.58 | -- | 0.46 |
| 2022-06 | 30.44 | 9.0700 | 8.04 | 9.0500 | 5.91 | -- | 0.89 |
| 2022-09 | 35.66 | 19.2800 | 4.59 | 5.4800 | 1.36 | -- | 0.24 |
| 2021-12 | 29.32 | 8.6600 | 4.25 | 5.0000 | 2.82 | -- | 0.49 |
| 2021-09 | 27.45 | 8.2000 | -- | -- | -- | -- | -- |
| 2022-03 | 29.58 | 8.0300 | 5.65 | 6.3800 | 4.70 | -- | 0.71 |
| 2021-06 | 26.79 | 4.5500 | -11.36 | -19.4900 | 4.44 | -- | 0.85 |
| 2021-03 | 27.15 | -21.2200 | -- | -- | -- | -- | -- |
| 2020-06 | 32.53 | 6.6900 | -1.03 | 68.0200 | 4.48 | -- | 1.59 |
| 2020-12 | 26.66 | 1.4000 | -- | -- | -- | -- | -- |
| 2019-06 | 30.26 | 7.0600 | -0.15 | 219.8300 | 4.63 | -- | 1.90 |
| 2025-06 | 44.25 | 14.1900 | 4.48 | 8.3500 | 1.85 | -- | 0.35 |
| 2025-09 | 44.42 | 14.1400 | 6.50 | 12.5300 | 2.57 | -- | 0.53 |
| 2025-12 | 44.99 | -- | -- | -- | -- | -- | -- |
偿债能力分析
| 类别\年份 | 资产负债率 （%) |
股东权益比率 （%) |
流动比率 | 速动比率 |
| 2024-12 | 42.85 | 57.15 | 2.04 | 1.55 |
| 2025-03 | 59.22 | 40.78 | 1.99 | 1.54 |
| 2024-06 | 38.11 | 61.89 | 2.38 | 1.93 |
| 2024-09 | 40.72 | 59.28 | 2.14 | 1.66 |
| 2024-03 | 38.96 | 61.04 | 2.18 | 1.80 |
| 2023-12 | 36.55 | 63.45 | 2.34 | 1.91 |
| 2023-09 | 36.84 | 63.16 | 2.29 | 1.86 |
| 2022-12 | 34.91 | 65.09 | 2.36 | 1.96 |
| 2023-03 | 34.05 | 65.95 | 2.50 | 2.13 |
| 2023-06 | 33.68 | 66.32 | 2.55 | 2.18 |
| 2022-06 | 37.71 | 62.29 | 2.13 | 1.82 |
| 2022-09 | 35.52 | 64.48 | 2.30 | 1.94 |
| 2021-12 | 39.06 | 60.94 | 2.05 | 1.69 |
| 2021-09 | -- | -- | -- | -- |
| 2022-03 | 37.71 | 62.29 | 2.11 | 1.79 |
| 2021-06 | 37.86 | 62.14 | 2.64 | 2.21 |
| 2021-03 | -- | -- | -- | -- |
| 2020-06 | 105.54 | -5.54 | 1.51 | 1.08 |
| 2020-12 | -- | -- | -- | -- |
| 2019-06 | 102.18 | -2.18 | 1.39 | 0.93 |
| 2025-06 | 59.10 | 40.90 | 1.92 | 1.50 |
| 2025-09 | 62.23 | 37.77 | 1.65 | 1.26 |
| 2025-12 | -- | -- | -- | -- |
成本费用分析
| 类别\年份 | 销售成本 （元) |
销售费用 （元) |
管理费用 （元) |
财务费用 （元) |
| 2024/12/31 0:00:00 | 9356965000.0000 | -- | 931651000.0000 | -25757000.0000 |
| 2025/3/31 0:00:00 | 2469007000.0000 | -- | 242144000.0000 | 49030000.0000 |
| 2024/6/30 0:00:00 | 4368957000.0000 | -- | 418573000.0000 | -34011000.0000 |
| 2024/9/30 0:00:00 | 6861558000.0000 | -- | 654781000.0000 | -41851000.0000 |
| 2024/3/31 0:00:00 | 2107073000.0000 | -- | 191341000.0000 | -24981000.0000 |
| 2023/12/31 0:00:00 | 4391428000.0000 | -- | 357689000.0000 | -98767000.0000 |
| 2023/9/30 0:00:00 | 5956394000.0000 | -- | 490257000.0000 | -120149000.0000 |
| 2022/12/31 0:00:00 | 3281218000.0000 | -- | 313908000.0000 | -48339000.0000 |
| 2023/3/31 0:00:00 | 1792403000.0000 | -- | 155206000.0000 | -25081000.0000 |
| 2023/6/30 0:00:00 | 3748938000.0000 | -- | 319705000.0000 | -62264000.0000 |
| 2022/6/30 0:00:00 | 7015888000.0000 | -- | 816225000.0000 | -32948000.0000 |
| 2022/9/30 0:00:00 | 1783865000.0000 | -- | 167626000.0000 | -25071000.0000 |
| 2021/12/31 0:00:00 | 3835566000.0000 | -- | 432696000.0000 | -9171000.0000 |
| 2021/9/30 0:00:00 | 1925672000.0000 | -- | 211275000.0000 | -4248000.0000 |
| 2022/3/31 0:00:00 | 5470085000.0000 | -- | 631418000.0000 | -13774000.0000 |
| 2021/6/30 0:00:00 | 6640973000.0000 | -- | 810829000.0000 | -12071000.0000 |
| 2021/3/31 0:00:00 | 4807691000.0000 | -- | 610694000.0000 | -11423000.0000 |
| 2020/6/30 0:00:00 | 6252868000.0000 | -- | 796435000.0000 | 5730000.0000 |
| 2020/12/31 0:00:00 | 3204716000.0000 | -- | 441163000.0000 | -9184000.0000 |
| 2019/6/30 0:00:00 | 6934982000.0000 | -- | 593205000.0000 | 17898000.0000 |
| 2025/6/30 0:00:00 | 5236194000.0000 | -- | 503656000.0000 | 128400000.0000 |
| 2025/9/30 0:00:00 | 8442767000.0000 | -- | 847458000.0000 | 232929000.0000 |
| 2025/12/31 0:00:00 | 11795708000.0000 | -- | -- | 326509000.0000 |