智通财经APP获悉，招商证券国际发布研报称，维持康臣药业(01681)“增持”评级，目标价由13.9港元上调至15.9港元，认为该股估值低，且股息收益率吸引。该行继续看好其稳健的经营和高股息，并认为公司在市场波动及地缘政治不确定因素中具备防守性。
康臣药业上半年收入及净利润同比增23.7%和24.6%，均胜预期。肾病、妇儿及造影剂板块均表现良好，销量分别增28%、17.5%及22%，尿毒清颗粒(UCG)和源力康(YLK)持续推动增长。公司整体毛利率符合预期，且呈上升趋势。
该行表示，康臣药业正利用尿毒清颗粒的商业化成功，建构肾科领域全面的研发平台和针对中国肾脏病管理市场的综合解决方案，其肾病领域管线强劲，有助公司确立专科领导地位。
另外，管理层将其今年收入增长指引上调至15%以上。该行指，集中采购或于下半年轻微影响公司的造影剂板块，但整体影响可控，预计公司今年毛利率将稳定在约77%，销售及管理费用比率维持稳定。
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.