“增收不增利”是资本市场复杂性的一个缩影，尤其是在技术变革加速、新兴产业蓬勃发展的时代背景下。它既可能孕育着下一个伟大的公司，也可能隐藏着价值毁灭的陷阱。投资者不能被表面的营收高增长所迷惑，也不能因暂时的亏损而全盘否定。关键在于深入理解其背后的商业逻 ...

Zhejiang Dingi’s (Dingi) net profit in 2024 came in at RMB1.63bn (-13% YoY),substantially falling short of our/Bloomberg consensus by 20%/21%. Thenegative surprise was due to: (1) advanced shipments o ...