輪證日報|醫藥股走高,藥明認購證漲100%
今日市場短評
港股延續反彈行情,恆指漲1.21%,6個交易日累計漲逾20%,重回22000點上方,恆生科技指數漲2.05%,盤中一度漲近5%。盤面上,大型科技股普遍造好,阿裏巴巴、快手漲超7%,小米集團漲4%,百度、網易、美團皆有漲幅,京東尾盤轉跌;電信設備股午後拉昇領漲,中興通訊午後復牌一度飆漲60%,收漲逾23%表現較爲搶眼;受政策利好影響,氫能源股走強,教育股反彈明顯,餐飲股、汽車股、軍工股、半導體股、中醫藥股、大金融股紛紛上揚,蔚來汽車創上市新高。另一方面,電力板塊逆勢下跌明顯,前期活躍的體育用品股全天萎靡,家電股、石油股、港口航運股普跌。
窩輪證焦點
藥明生物(02269)
藥明認購證(12341)
到期日:2022年7月
槓桿:4.85倍
高盛:藥明生物去年業績略勝預期,維持“買入”評級
高盛發研報指,藥明生物去年銷售額按年增長83.3%,較該行預測高出3.3%,純利增長100%,亦略勝高盛預期。撇除一次性收益,核心盈利按年增長92.6%,毛利率提升至46.9%,主要受惠於疫情相關合約推高產能利用率。該行指,去年的強勁增長主要來自北美及歐洲客戶,中國市場則放緩。
雖然投資者對資金投入及市場需求感到擔憂,但高盛認爲,藥明積壓訂單增長強勁,整體及三年積壓訂單分別按年增長20.1%及98.2%,自2月8日起被美國列入“未經覈實”實體名單後,更新增11個來自全球客戶的項目。
高盛指,藥明管理層一直在積極與美國商務部洽商,料將成爲今年股價的關鍵催化劑,鑑於公司運營的持續強勁及積壓訂單增長進一步鞏固基本面,重申“買入”評級,在微調2022至2023年盈利預測後,將目標價由112.2港元降至110.7港元。
牛熊證焦點
小米集團(01810)
小米牛證(53297)
到期日:2023年4月
回收價:13
槓桿:5.3倍
瑞信:維持小米集團跑贏大市評級 目標價22.5港元
瑞信表示,由於地緣政治緊張、持續的供應中斷和安卓系統,將小米2022和2023年智能手機出貨量預測下調7%至2.07億元和2.28億元人民幣。該行維持小米評級“跑贏大市”,由於供應鏈受限和Android手機疲軟,瑞信將小米2022和2023年每股盈利預測分別下調9%和11%,目標價由24.2港元下調至22.5港元。
瑞信認爲,由於半導體供應恢復,由歐洲、拉丁美洲和東南亞推動的出貨量將積壓在下半年。瑞信預計 ,小米2022年互聯網服務業務將在海外廣告抵銷國內互聯網壓力的推動下,按年增長19%,物聯網可能會繼續保持良好的增長。
衍生品資金流入/流出
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