Southwest Securities releases Tongrentang research report: short-term performance under pressure, breakthroughs in core raw materials expected to drive recovery

2026-04-04 04:07:12

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Daily Economic News AI Express, on April 2, Southwest Securities released a research report on Tongrentang (600085.SH, latest price: 28.44 yuan). Key content: 1) The revenue side faces short-term pressure, while product mix differentiation maintains operational resilience; 2) The cost side benefits from breakthroughs in key core ingredients, and profit margins are expected to recover soon; 3) Marketing reforms continue to deepen, and the channel system is being built in a multi-dimensional way. Risk warning: Risks such as fluctuations in raw material prices, product sales volume not meeting expectations, and the inventory clearance schedule not meeting expectations.

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(Reporter Zhang Xiwei)

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