野村研究报告指，预期石药集团(01093.HK) 今年首季盈利升47%，收入则跌2%至88亿元人民币(下同)。成品药方面，该行料3大药物种类，包括中枢神经系统(CNS)、肿瘤及传染病药物的销售额将分别按年跌8%、63%及26%，基于去年同期的高基数，以及肿瘤药物面临价格压力。但该行认为去年两项授权交易的潜在收入确认将可抵消药品销售额下降。
利润率方面，该行料毛利率为75.7%，由药物业务毛利率68%及授权业务毛利率100%所支持。预期销管费用按年跌16%，因考虑到较少药物销售以致销售开支较低；料经营利润按年跌44%。该行将目标价由6.55港元升至8.02港元，予“买入”评级。(ss/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-05-28 16:25。)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.