股 票 研 究 投资要点： | [Table_Finance] 财务摘要(百万元) | 2024A | 2025A | 2026E | 2027E | 2028E | | --- | --- | --- | --- | --- | --- | | 营业总收入 | 10,778 | 10,597 | 11,217 | 12,360 | 13,494 | | (+/-)% | 21.0% | -1.7% | 5.8% | 10.2% | 9.2% | | 净利润(归母) | 1,552 | 1,498 | 1,589 | 1,756 | 1,940 | | (+/-)% | 30.0% | -3.5% | 6.1% | 10.6% | 10.4% | | 每股净收益(元) | 3.92 | 3.78 | 4.01 | 4.44 | 4.90 | | 净资产收益率(%) | 28.7% | 24.4% | 23.3% | 22.9% | 22.6% | | 市盈率(现价&最新股本摊薄) | 15.40 | 15.96 | 15.04 | 13.61 | 12.32 | 业绩具韧性，子品牌表现亮眼 珀莱雅(60360 ...