智通财经APP获悉，建银国际发布研报称，石药集团(01093)2025年第一季度业绩见底，销售额同比下降21.9%至70亿元人民币(下同)，低于预期的72.6亿元，因为神经系统和肿瘤药物销售额持续下滑。毛利率下降1.1个百分点至71.1%，比预期低0.6个百分点。该行认为石药的最坏时期已经过去，预计未来几个季度核心业务板块的销售额将逐步改善，维持“中性”评级，目标价由4.8港元升至6.5港元。
报告指，石药第一季度销售和营销费用按季下降8.6%，占总收入的23.7%，低于预期的29.2%。营运利润和净利润率分别为25.6%和21.1%，分别高于预期的12个和10.4个百分点。
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.