药明合联（02268）今日盘中大跌5.12%，引发市场关注。尽管公司刚刚发布的中期业绩表现亮眼，但投资者似乎对其未来增长前景持谨慎态度。
根据公司公告，药明合联2025年上半年实现收入27.01亿元人民币，同比大幅增长62.2%；公司拥有人应占纯利7.46亿元人民币，同比增长52.74%。这一业绩表现超出市场预期。公司CEO李锦才表示，2025年上半年公司在生物偶联药物CRDMO领域取得了非凡成就，新签项目数量创历史新高，客户基础进一步扩大。
然而，尽管业绩亮眼，投资者似乎对公司未来增长持谨慎态度。可能的原因包括：1）尽管收入和利润大幅增长，但公司决定不派发中期股息，这可能引发了一些投资者的担忧；2）全球经济环境的不确定性可能影响到公司未来的订单增长；3）市场可能担心公司高速增长的可持续性。此外，部分投资者可能选择在良好业绩公布后获利了结，导致股价承压。
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