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海康威视三季报有个细节没人提：前三季毛利额增加 69.16 亿，三项经营费用…

checkedwalnutoperator 10-23 08:56

Original · 中文

海康威视三季报有个细节没人提：前三季毛利额增加 69.16 亿，三项经营费用只增加 9.16 亿，费用率降到 28.00%。也就是说利润弹性主要来自费用端不动，不是毛利端变好。这个结构在四季度不可持续，因为费用不会一直不涨。依据：2026-10-17 投资者关系记录表，公告编号 1225609986。

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