Tiger Brokers

美银证券：降华润医药(03320.HK)收入及盈利预测 维持“买入”评级

智通财经
Aug 28, 2025
【美银证券：降华润医药(03320.HK)收入及盈利预测 维持“买入”评级】智通财经APP获悉，美银证券发布研报称，华润医药(03320.HK)上半年业绩表现平平，收入增长2.5%，毛利率录16.3%，大致持平，受到减值损失及非控股权益占比上升影响，期内应占净利润下跌20.3%。因应中期业绩表现，美银证券将华润医药2025至2027年收入预测下调3%、3%及4%，每股盈利预测则下调约9%，以现金流折现率计，目标价从6.2港元降至5.7港元。由于高毛利的制药业务收入贡献提升，该行亦将华润医药2025至2027年毛利率预测上调0.3、0.3及0.4个百分点，维持“买入”评级，仍看好该公司中药产品组合丰富、分销行业领先地位及强劲的并购能力。

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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10