美银证券发表研究报告指，再鼎医药(09688.HK) (ZLAB.US) 今年首季收入按年升22%至近1.07亿美元(下同)，产品毛利为6,700万元，毛利率由去年同期的61.4%改善至63.6；净亏损按年收窄9.4%至4,840万元。
该行根据集团今年首季的表现，上调对其今年毛利率预测，同时上调对其今年及以来的研发开支预测，以反映新预付款项及新产品开发进展，并降市场推广及一般开支预测，反映经营效率改善。该行将其2025全年净亏损预测上调1.6%，2026及27年的净利润预测分别下调40.8%及7.2%。港股目标价由27.98港元降至25.27港元，美股目价标由36.1美元降至32.6美元，予“中性”评级，基于核心产品的增长放缓，但同时产品线开发进展稳固。
报告提到，管理层认为美国关税对集团影响有限，因其有权在当地生产大部分产品，另外有几种产品亦可以向美国以外市场供应。(ss/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-05-09 16:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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