20231209_万联证券_商贸零售行业投资策略报告:厚积薄发渐进修复_23页.pdf
Table_RightTitle|Table_Title Table_IndustryRank()Table_ReportType Table_ReportDate 2023 12 09 T abl e _S umm ary 2023 2023 1-2+3.50%10+7.60%3 2023 11 2.08%11 Z+1-11 12.22%Table_Chart 300 Table_ReportList 10 10+7.6%10+10.4%Table_Authors:S0270522030002 15521202580-40%-35%-30%-25%-20%-15%-10%-5%0%5%10%商贸零售 沪深300 Table_Pagehead 2 23$st art$.1.1 2023.4 1.2.6 1.3.6 1.4.8 1.4.1.8 1.4.2.9.2.1.11 2.2.12 2.3.16 2.4 Z.17.3.1“+”.18 3.2“”.19 3.3.20.1/.4 2.4 3.4 4.5 5.5 6.5 7 2023“”.6 8.6 9.7 10.7 11(%).8 12(%).8 13 2023Q1-Q3.9 14 2023 2024 EPS/PE.9 15 2023Q1-Q3.10 16 2023 2024 EPS/PE 11 17.12 18.12 19 2020.12 20 16-24%.12 21+GMV.12 22+GMV.12 23+GMV.13 XVFUwPsPmPoPoQoNmRoRmNbRcM6MtRnNpNnOfQrQoMiNrQrN9PrRzQwMrRsPuOmQvN Table_Pagehead 3 23 24+GMV.13 25 2023 1-10.13 26 2015-2022.14 27.15 28.16 29 TOP20%.17 30.18 31 vs.19 32.19 33.19 34 IP.20 35 2017-2022.20 36 2017-2022.20 37%.21 Table_Pagehead 4 23 1 1.1 2023 2023 2023Q1-Q3+5.9%+4.7%+7.3%2023 1-10+6.90%1-2+3.50%10+7.60%1-10/+12.0%/+6.2%1/2 3 iFinD 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