【东吴证券】2024半年度业绩预告点评：上半年主业扣非利润-4.5%yoy，高基数下业绩有所下滑.pdf

China Heavy Duty Truck–Weichai’s multi-cylinder engine sales +71% YoY; Market share gain continues

21H1扣非归母净利+183%yoy，进入业绩加速释放期

–Net profit in 2Q23 +19% YoY; Higher R&D spending but still a set of good quality results

22Q1营收yoy-5.31%，以研发为本多维转型调整，线上进程加速&恋火持续发力

24Q2归母净利yoy+26.7%，稳固转型成效，稳健发展和健康增长

21Q1-3归母净利yoy+144.1%，濡白天使Q3上市入局再生值得期待

23Q3化妆品营收yoy+31.63%，业务转型逐步推进、培育长期增长优势

22H1营收yoy-2.90%阶段承压，创新业务表现亮眼，坚持红人生态链布局关注长期成长

2024年净利YOY+35%，延续快速增长趋势

23Q3归母净利yoy+24.2%表现靓眼，看好品牌力、产品力双升下双11大促再创佳绩