Tiger Brokers

信达生物（01801）震荡走强涨8.69% 机构指产品收入强劲增长且进入利润释放期

金吾财讯
Aug 26

金吾财讯 | 信达生物（01801）震荡走强，早盘一度涨逾12%，截至发稿，最新报108.80港元，涨幅8.69%，成交额29.34亿港元。消息面上，中金公司表示，公司1H26收入86.2亿元，同比+44.8%。归母净利润12.5亿元，同比+50.2%，non-IFRS净利润17亿元，同比+40.5%。利润略超机构此前预期，主要由于费用控制好于预期。该机构指，公司产品收入强劲增长叠加运营效率不断提高，进入利润释放期，1H26，公司产品收入82.0亿元，同比增长56.7%。该机构提到，公司首次提出2030年收入指引350-400亿元，超市场预期。在此前2027年收入200亿元指引的基础上，新指引意味着2027-2030E约20-26%的收入CAGR。机构认为公司展望的高增长来自于对于IBI363、IBI343和IBI324等国际化大单品的海外商业化潜力的信心，可持续的商业化收入增长和利润释放有望成为公司的估值底的有力支撑。中金维持跑赢行业评级，基本维持2026年归母净利润预测24.3亿元不变，考虑到国际化拓展所需要费用，下调2027年归母净利润预测5.2%至36.4亿元。考虑到公司积极2030年指引和利润释放确定性提升，基于DCF模型，维持目标价118.3港币不变，较当前股价有18.2%的上行空间。

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