【券商聚焦】中信建投维持康希诺生物(06185)买入评级指推出股权激励保障长期发展

金吾财讯

Nov 28, 2025

金吾财讯 | 中信建投研报指，康希诺生物(06185)发布2025年三季报，业绩符合预期。公司作为国内领先的创新型疫苗企业，现有MCV系列和PCV13等上市产品，前三季度MCV系列持续放量，助力公司收入增长，后续PCV13有望贡献业绩新增量；婴幼儿用DTcP、吸附破伤风疫苗处于上市审评阶段，后续研发管线丰富，支撑公司未来长期发展。公司持续推动降本增效措施，优化产能结构，25Q3实现扭亏，未来随着收入增长，公司盈利能力有望进一步提升。本次公司向激励对象授予A股限制性股票，有助于保障公司长期健康发展。激励对象纳入外籍及中国香港籍员工，有助于公司吸引和稳定国际高端人才。本次激励计划业绩考核目标包括收入及在研管线进展，既能体现公司的经营情况，又能体现公司在创新产品研发方面的努力，符合公司创新型疫苗企业的定位。该机构预计公司2025~2027年实现营业收入分别为10.47亿元、14.52亿元和17.54亿元，分别同比增长27.0%、38.7%和 20.8%。归母净利润分别为0.35 亿元、1.22 亿元和2.08 亿元，2025 年预计扭亏为盈，2026~2027 年同比分别增长251.4%和69.5%，折合EPS分别为0.14元/股、0.49元/股和0.84 元/股，对应PE分别为289.8X、82.5X和48.7X，维持买入评级。

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
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2586096952"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2586096952\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2586096952?lang=en_US&edition=fundamental","thumbnail":"https://static.szfiu.com/news/20250109/M2QyMTYxN2UxNmI4NDk2OTg5NThlNDVhNTUzNjZhZTcxMjcxMzE0NDc4MDA=.jpg","is_english":false,"pubTime":"2025-11-28 15:14","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2586096952","market":"us","top_or_hot":-1,"title":"【券商聚焦】中信建投维持康希诺生物(06185)买入评级 指推出股权激励保障长期发展","media":"金吾财讯","content":"<html><body><p>金吾财讯 | <a href=\"https://laohu8.com/S/601066\">中信建投</a>研报指，<a href=\"https://laohu8.com/S/06185\">康希诺生物</a>(06185)发布2025年三季报，业绩符合预期。公司作为国内领先的创新型疫苗企业，现有MCV系列和PCV13等上市产品，前三季度MCV系列持续放量，助力公司收入增长，后续PCV13有望贡献业绩新增量；婴幼儿用DTcP、吸附破伤风疫苗处于上市审评阶段，后续研发管线丰富，支撑公司未来长期发展。公司持续推动降本增效措施，优化产能结构，25Q3实现扭亏，未来随着收入增长，公司盈利能力有望进一步提升。本次公司向激励对象授予A股限制性股票，有助于保障公司长期健康发展。激励对象纳入外籍及中国香港籍员工，有助于公司吸引和稳定国际高端人才。本次激励计划业绩考核目标包括收入及在研管线进展，既能体现公司的经营情况，又能体现公司在创新产品研发方面的努力，符合公司创新型疫苗企业的定位。该机构预计公司2025~2027年实现营业收入分别为10.47亿元、14.52亿元和17.54亿元，分别同比增长27.0%、38.7%和 20.8%。归母净利润分别为0.35 亿元、1.22 亿元和2.08 亿元，2025 年预计扭亏为盈，2026~2027 年同比分别增长251.4%和69.5%，折合EPS分别为0.14元/股、0.49元/股和0.84 元/股，对应PE分别为289.8X、82.5X和48.7X，维持买入评级。 </p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>【券商聚焦】中信建投维持康希诺生物(06185)买入评级 指推出股权激励保障长期发展</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n【券商聚焦】中信建投维持康希诺生物(06185)买入评级 指推出股权激励保障长期发展\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086022552\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/19a93586c3b023ec6ebfed568990555c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">金吾财讯 </p>\n<p class=\"h-time\">2025-11-28 15:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>金吾财讯 | <a href=\"https://laohu8.com/S/601066\">中信建投</a>研报指，<a href=\"https://laohu8.com/S/06185\">康希诺生物</a>(06185)发布2025年三季报，业绩符合预期。公司作为国内领先的创新型疫苗企业，现有MCV系列和PCV13等上市产品，前三季度MCV系列持续放量，助力公司收入增长，后续PCV13有望贡献业绩新增量；婴幼儿用DTcP、吸附破伤风疫苗处于上市审评阶段，后续研发管线丰富，支撑公司未来长期发展。公司持续推动降本增效措施，优化产能结构，25Q3实现扭亏，未来随着收入增长，公司盈利能力有望进一步提升。本次公司向激励对象授予A股限制性股票，有助于保障公司长期健康发展。激励对象纳入外籍及中国香港籍员工，有助于公司吸引和稳定国际高端人才。本次激励计划业绩考核目标包括收入及在研管线进展，既能体现公司的经营情况，又能体现公司在创新产品研发方面的努力，符合公司创新型疫苗企业的定位。该机构预计公司2025~2027年实现营业收入分别为10.47亿元、14.52亿元和17.54亿元，分别同比增长27.0%、38.7%和 20.8%。归母净利润分别为0.35 亿元、1.22 亿元和2.08 亿元，2025 年预计扭亏为盈，2026~2027 年同比分别增长251.4%和69.5%，折合EPS分别为0.14元/股、0.49元/股和0.84 元/股，对应PE分别为289.8X、82.5X和48.7X，维持买入评级。 </p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"06185","symbol_name":"康希诺生物","start_time":0,"source_url":"1970557","article_id":"2586096952","we_media_id":"1086022552","thumbnails":["https://static.szfiu.com/news/20250109/M2QyMTYxN2UxNmI4NDk2OTg5NThlNDVhNTUzNjZhZTcxMjcxMzE0NDc4MDA=.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2586096952","pubTimestamp":1764314072,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"金吾财讯","introduction":"「金吾财讯」以精准用户需求为切入点，打造一站式港美股投资细分领域品牌。依托战略合作伙伴凤凰网财经，将港美股内容传播到全球华人圈。","home_visible":1,"id":"1086022552","head_image":"https://static.tigerbbs.com/19a93586c3b023ec6ebfed568990555c"},"summary":"金吾财讯 | 中信建投研报指，康希诺生物 发布2025年三季报，业绩符合预期。公司持续推动降本增效措施，优化产能结构，25Q3实现扭亏，未来随着收入增长，公司盈利能力有望进一步提升。本次公司向激励对象授予A股限制性股票，有助于保障公司长期健康发展。激励对象纳入外籍及中国香港籍员工，有助于公司吸引和稳定国际高端人才。","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"zh","relate_stocks":{"06185":"康希诺生物"},"translate_title":"[Brokerage Focus] CITIC Construction Investment maintains CanSino Biologics (06185) buy rating, referring to the launch of equity incentives to ensure long-term development","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"06185":1.5},"content_text":"金吾财讯 | 中信建投研报指，康希诺生物(06185)发布2025年三季报，业绩符合预期。公司作为国内领先的创新型疫苗企业，现有MCV系列和PCV13等上市产品，前三季度MCV系列持续放量，助力公司收入增长，后续PCV13有望贡献业绩新增量；婴幼儿用DTcP、吸附破伤风疫苗处于上市审评阶段，后续研发管线丰富，支撑公司未来长期发展。公司持续推动降本增效措施，优化产能结构，25Q3实现扭亏，未来随着收入增长，公司盈利能力有望进一步提升。本次公司向激励对象授予A股限制性股票，有助于保障公司长期健康发展。激励对象纳入外籍及中国香港籍员工，有助于公司吸引和稳定国际高端人才。本次激励计划业绩考核目标包括收入及在研管线进展，既能体现公司的经营情况，又能体现公司在创新产品研发方面的努力，符合公司创新型疫苗企业的定位。该机构预计公司2025~2027年实现营业收入分别为10.47亿元、14.52亿元和17.54亿元，分别同比增长27.0%、38.7%和 20.8%。归母净利润分别为0.35 亿元、1.22 亿元和2.08 亿元，2025 年预计扭亏为盈，2026~2027 年同比分别增长251.4%和69.5%，折合EPS分别为0.14元/股、0.49元/股和0.84 元/股，对应PE分别为289.8X、82.5X和48.7X，维持买入评级。","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}